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Housing inventory falls under 1M again as sales collapse

Total housing inventory levels broke under 1 million in December, dropping to 970,00 units for a population of 330 million people.

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On Friday NAR reported that total housing inventory levels broke under 1 million in December, dropping to 970,00 units for a population of 330 million people. And existing home sales crashed in 2022 from a peak of around 6.5 million in January down to about 4 million in December,

We now have total inventory levels near all-time lows again. In one of the most historical years in the U.S. housing market, we just experienced an event that most people never thought could happen. I know it sounds so simple, but even today, some people don’t understand that a home isn’t like a stock. When you sell a home, you need to find shelter because you need a place for your kids to sleep.

Total housing costs for American homeowners versus their wages are meager, and most will buy a home right away when they sell. Looking at housing this way, the last four decades make sense. The one period where this didn’t happen was from 2006-2011, when credit forced Americans to sell, to rent or to be homeless. Outside of that time period, everything else from 1982 to 2023 was normal.



If you believe people sell to become homeless, then you’re in the group of people that have simply not read housing data for decades. The lack of sellers is also a demand problem and what we saw after June of 2022 is that sellers called it quits earlier and faster in the year than usual, resulting in total existing home sales totaling 5,030,000 to end 2022.

From NAR: “December was another difficult month for buyers, who continue to face limited inventory and high mortgage rates,” said NAR Chief Economist Lawrence Yun. “However, expect sales to pick up again soon since mortgage rates have markedly declined after peaking late last year.”
 

The Federal Reserve wanted a housing reset, and it got a housing recession, with activity falling the fastest since the brief pause during COVID-19. During that period, we saw new listing data decline. However, in 2020 new listing data came back, and we don’t want to see the new listings continue to decline this year — that would be a double negative for the housing market.

Days on market growing

One of the reasons I called the housing market savagely unhealthy in 2022 was that houses flew off the shelves once they were listed. The days on market were too low. I have often said that anytime days on the market are at a teenager level, nothing good will happen. This means we don’t have enough housing inventory available because with lending standards back to normal we can’t replicate the credit demand we saw in housing from 2002-2005.

So the fact that we are back to an average of 26 days on market makes me happier. Also, this is what the Federal Reserve wants. The Federal Reserve did not like the homebuying atmosphere during COVID-9, especially the non-contingent buying contracts.

NAR Research: First-time buyers were responsible for 31% of sales in December; Individual investors purchased 16% of homes; All-cash sales accounted for 28% of transactions; Distressed sales represented 1% of sales; Properties typically remained on the market for 26 days.



Home price growth cooled off

Even though total housing inventory didn’t grow too much in 2022, rising mortgage rates cooled off the price growth very quickly and we are near all-time lows again. The Fed wanted a housing reset and rising mortgage riates did the trick, cooling off home prices toward the end of the year.

My 2022 price forecast was too low as mortgage rates didn’t cool down prices fast enough, something I outline in my 2023 forecast. However, now we can see more of a cooldown and days on market growing; both are key to my economic work around housing getting back to normal.

NAR Research: The median existing-home price for all housing types in December was $366,900, an increase of 2.3% from December 2021 ($358,800), as prices rose in all regions. This marks 130 consecutive months of year-over-year increases, the longest-running streak on record.

Housing inventory

With the days on the market growing, the monthly housing supply will grow back to a more traditional level. Even though the monthly supply fell to 2.9 months in Friday’s report, it’s up year over year from 1.7 months. Total housing inventory did break under 1 million to 970,000 units, but that’s up from last year’s 880,000 units.

The year-over-year housing inventory growth is a positive story for housing as the crazy marketplace before rates rose has faded away, and we are getting a more normalized marketplace.

NAR Research Total housing inventory at the end of December was 970,000 units, down 13.4% from November but up 10.2% from one year ago (880,000). Unsold inventory sits at a 2.9-month supply at the current sales pace, down from 3.3 months in Nov. but up from 1.7 months in Dec. 2021.

The report is in line with what I was expecting; even though existing home sales didn’t break under 4 million like I thought they might, it still shows that the backward-looking report is getting closer to a bottom than the start. We’ve talked about total housing inventory getting below 1 million for some time now and that we could see that in December and January.

We have had some significant shifts in the housing market since October, as mortgage rates, which peaked at 7.37%, fell to as low as 6.04% recently. Purchase application data also found a bottom to bounce off from as this data line has stabilized recently.



Housing data moves so fast that you need a weekly tracker to keep the focus on current and forward-looking data. My Housing Market Tracker, published every Monday, provides the best up-to-date data on the housing market so you can look forward, not backward! Like the COVID-19 economy, you don’t want to be old and slow in a market that moves fast. December 2022 is done, and let’s take this weekly ride together in 2023.

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The best real estate coaching programs for 2024

Hone your skills and level up your business this year by investing in an expert real estate coaching program

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Real estate is a vibrant, dynamic and competitive industry. From the thrill of a sale to the pursuit of new leads, it keeps you on your toes. That said, it can also be incredibly isolating, and it can be hard to stay motivated. As a way to deal with this, many agents and brokers seek out professional mentorship as a means to gain insight and level up their performance. Across the country, the best real estate coaches serve as valuable mentors who can help agents and brokers achieve the success they deserve. 

“It’s really hard for independent business owners to get unbiased advice from themselves,” says Kyle Scott, President of SERHANT. Ventures. “So they need unbiased experts to work with that will help them grow their business — someone who has been there, who has done it, and who is able to see their business from both the 35,000-foot view and down in the weeds.” 

A quick internet search will prove that real estate coaching programs are plentiful. Whether you’re looking to expand your team or client network or figure out how to delegate work so you can focus on the tasks you do best, a real estate coaching program could be a valuable launchpad. But when it comes to choosing the right one for your unique needs, there’s a lot to consider. Here, we highlight some of the best real estate coaches in the industry and their programs.

Summary

Who can benefit most from real estate coaching?

An unbiased view is worth millions. Often, we turn to our closest friends and family for guidance. Unfortunately, they’re usually not familiar with the ins and outs of the real estate industry and can’t provide you with the relevant feedback you need. As a result, many independent contractors rely on themselves, which generally doesn’t work either.

You can’t advise yourself, you’re too close to it. A coach works best for someone who is actually looking to grow their business, someone who is looking to put in the time and the energy to make a difference in achieving more income this year. Hire a coach if you want to start taking your business to the next level for any reason — you want to make more money, have more freedom with your time, or stop riding the ins and outs of the commission cycle.President of SERHANT. Ventures

1. Sell It Like Serhant

Key Facts

Grown throughout the pandemic, the Sell It Like Serhant program has been carefully adapted to the current market. It follows a weekly and bi-weekly platform featuring one-on-one virtual coaching from Serhant’s proprietary video platform. After a half-hour or hour-long group meeting every week or every other week, participants follow actionable steps to help them grow their business. Thus far, more than 22,000 enrollees in 128 countries have been through the Sell It Like Serhant program.

What We Love

Serhant offers daily office hours so participants can pop into virtual sessions to ask questions or get expert advice between their regularly scheduled sessions. A community platform also allows participants to pass referrals to each other. Thus far, it seems to have worked: To date, participating agents have closed over $250 million of referral deals.

Pricing

There are different membership tiers, depending on the level of guidance you need. The introductory Real Estate Core Course starts at $497. Prices are higher for a more specific course or one with 1:1 coaching.

Who’s it Best For?

If you’re looking to build a memorable personal brand, SERHANT. is the way to go. “The number one differentiator about our program is we understand that as a real estate agent, you have one job: to generate leads,” says SERHANT. Ventures President Kyle Scott. “Our number one focus is helping you build a clear, compelling, memorable personal brand and put your lead generation on autopilot. So that way, you can do what you do best, which is build relationships and close deals.”

Visit Sell It Like Serhant

2. Tom Ferry International

Headshot-Serhant

Key Facts

For good reason, Ferry International refers to itself as the real estate industry’s leading coaching and training company. Focused on Ferry’s “8 Levels of Performance,” the programs are a staple of real estate coaching. Their new group coaching sessions cover various aspects of real estate sales.

Prospecting Bootcamp is a 14-hour program comprised of seven two-hour group coaching sessions, and includes a peer-to-peer collaboration space. It involves independent work pulled from training videos and downloadable resources.

Recruitment Roadmap consists of hour-long sessions each week for ten weeks. Completed over Zoom and through the Tom Ferry video platform, each group coaching program offers a high level of specialization.

Finally, their Fast Track program offers 12 interactive group coaching sessions designed to help new agents build the necessary skills to succeed — like mastering listing presentations and handling objections. 

What we love 

If you’re looking for the gold standard of real estate coaching, Tom Ferry has the goods to back up the bravado. Because of their many years in the biz, Tom Ferry has a huge base of coaches, which means there are plenty of options to find the program best suited for your specific needs.

Pricing

Tom Ferry’s Prospecting Bootcamp and Fast Track coaching programs cost $999 but can be broken down into three monthly payments. The Recruitment Roadmap group coaching costs $1,499 but can be split into three monthly payments of $500. Consider their free coaching consultation if you want to dip your toes in the water. Check out their customer reviews, where several coaching program alums rave about the program.

Who’s it Best For?

If you thrive in a group setting that allows you to feed off the energy of others, Tom Ferry might be right for you. Their group coaching programs are new and more affordable alternatives to often costly 1:1 coaching fees.

Visit Tom Ferry

3. Tim and Julie Harris

Headshot-Serhant

Key Facts

The dynamic duo of real estate coaching, Tim and Julie Harris are a major name in the industry. Under their business, Harris Real Estate Coaching, their programs are divided into three tiers: Premier, Premier Plus, and VIP, all of which rely on a user-friendly online platform.

Pricing 

Premier platform costs $197 per month, but a 30-day free trial is available. Premier Plus costs $599 per month, while VIP costs $999 per month. Of course, their wildly successful podcast is a great free resource to tap into, as well as Tim and Julie’s many written contributions to HousingWire.

Who’s it Best For? 

If you’re constantly on the go, the ability to access the course from any device is a major asset.


4. Candy Miles-Crocker

Headshot-Serhant

Key Facts

Newbies are welcome at Candy Miles Crocker’s program. Known as the “Real Life Realtor,” she’s the brain behind Real Life Real Estate Training. With a variety of courses in her offerings, including a plethora of self-paced online courses, Miles-Crocker gives new agents a leg-up on the rest.

What we love

Miles-Crocker is still an active agent, working with clients to close deals. Her 20+ years of experience practicing in Washington, D.C., Virginia and Maryland have helped her build “systems, strategies and scripts” that she shares with her coaching clients.

Pricing

The CORE Essentials Blueprint program retails for $1,597. Smaller, more specific courses, such as The Buyer Presentation, are priced at $347.  While all pricing isn’t listed on her website, Miles-Crocker also offers a free course that includes her 6-point system for growth.

Who’s it Best For?

Miles-Crocker’s courses could be beneficial if you are new to agent life or looking to get your business reorganized. She even has one specifically for your first 30 days as a real estate agent.


5. Ashley Harwood

Ashley Harwood_headshot

Key Facts

Boston-based Ashley Harwood inspires introverts with her convincing, heartfelt and high-touch approach to practicing real estate. Her very human, very relatable Move Over Extroverts coaching approach is the perfect antidote for cheerleader-style coaches that urge you to door-knock, chase down divorce leads or become a social media superstar.

What we love

Harwood is a licensed agent coaching agents week-in and week-out at no less than three Keller-Williams offices in the great Boston metro. We love her humanity, inspiring videos, and her latest enterpise — The Quiet Success Club. Inspired by Susan Cain’s New York Times bestseller Quiet, about the power of introverts, Harwood brings together a community of like-minded real estate agents wanting a more client-centric approach to succeeding as an agent.

Pricing

Join The Quiet Success Club for $45 per month (paid monthly) or get two months free when you pay for an annual subscription (for $450). The club is currently offering founding member pricing for $25 per month or $250, but it’s a limited-time offer available only under April 30, 2024. Or get a lifetime membership to Harwood’s suite of courses, called IntrovertU, for a one-time cost of $997.

Who’s it Best For?

Introverts, of course! While you may not count yourself as one, if you read Susan Cain’s book, you may unearth your more introverted traits — like recharging your battery by being alone. Ok, even if you don’t bask in solitude, Harwood promises a calming community where agents can be themselves, be seen, and where they don’t have to be the loudest voice in her mastermind group, purposefully (and quietly) designed to teach successful lead generation and other strategies.


6. Levi Lascsak

If you’re looking to improve your social media game, Levi Lascsak is the YouTube master. The author of Passive Prospecting specializes in helping real estate professionals embrace the video platform, and he does so in jam-packed, 2-day virtual events. Discover how he earned over $4 million in gross commission income as a new agent.

What we love  

Lascsak’s social media marketing skills are top-of-the-line. While he may not be part of the traditional world of real estate coaching, Lascak’s ability to relate to younger audiences is an asset that Millennial and Gen Z agents might appreciate.

Pricing

The live, 2-day events are available at a discount for $47. But as you can expect, he’s got endless information available for free on YouTube.

Who’s it best for?

If you’re a digital native looking to pack a bunch of education into a short period, a Lascsak course is particularly beneficial.


7. Jess Lenouvel

Headshot-Serhant

Key Facts

Promising to help agents scale from six to seven figures, The Listings Lab founder Jess Lenouvel is the author of More Money, Less Hustle. A strong example of a coach with a significant understanding of social media, Lenouvel hosts vibrant live events that hype up the audience and prepare them to take their career to the next level.

What we Love

Lenouvel emphasizes the significant power of mindset to achieve one’s goals. She understands how quickly the market shifts and emphasizes staying on top of trends to succeed.

Pricing

Tickets to The Listings Lab retail for $997, but Lenouvel offers a variety of free resources as well, like her Listing Lab guide.

Who’s it best for?

Lenouvel’s live events focus on messaging. For those looking to solidify their brand and develop a clear, concise message, her events might be what you need.


8. Buffini & Company

Headshot-Serhant

Key Facts

Another giant of the real estate coaching industry, Buffini & Company is one of the largest coaching and training companies in the United States. They have two major coaching programs:  The Leadership Coaching program includes three monthly coaching calls, free admission to a 2-day conference, and curriculums and training led by Brian Buffini. There are also bi-monthly coaching sessions and a monthly web series with a live Q&A.

Buffini & Company also performs a REALstrengths profile — an in-depth personality assessment. In the One2One Coaching program, there are two coaching calls per month, a monthly marketing kit, the REALStrengths profile, and as with the SERHANT. program, Buffini features the Buffini Referral Network, allowing participants to send and receive referrals with other agents.

What We Love

Buffini coaches aren’t independent contractors. Instead, they’re full-time employees who go through intense training. Thus far, they’ve conducted 1.7 million coaching calls and more than one million hours of coaching.

Pricing

The Leadership Coaching program costs $1,499 a month. Private coaching, referred to as One2One Coaching, costs $549 per month. Two tiers of Referral Maker courses are available from $45 to $149 each per month.

Who’s it Best For?

Team spirit is the name of the game for Buffini’s Leadership Coaching program. If you’re a team leader looking to improve your coaching skills and assist your team in leveling up, the Leadership Coaching program might be right for you. If you want a more personalized path as a solo agent, the One2One Coaching program may be a better fit.


9. Vanda Martin

Key Facts

A popular name in the real estate coaching industry, Vanda Martin’s VIP Coaching Program follows three components: coaching, content, and community. Martin doesn’t shy away from mistakes – instead, she emphasizes avoiding indecision that puts you behind the pack. 

What we love

Positive vibes are plentiful in Martin’s world, and her energy is tangible. Just check out her Instagram videos.

Pricing

Martin’s pricing isn’t listed.

Who’s it best for?

If you’re looking for a female leader who emphasizes loving your job and building habits that will take you to a greater level of success, Martin’s ability to convey those feelings is clear. Just check out the endless testimonials on her website.


9. Tat Londono

Key Facts

Tatiana Londono is the founder and CEO of Londono Realty Group Inc. The author of Real Estate Unfiltered, she offers a variety of programming that ranges from free templates to intensive coaching sessions. The Millionaire Realtor Membership provides weekly input from Londono, while the intensive Millionaire Real Estate Agent Coaching Program focuses on building 12-month objectives using a custom success action plan. It uses live programming and workshops with Londono herself, as well as an exclusive online community and referral network for members.

What we love

Londono’s keen sense of social media and her posts are a masterclass in how to boost your engagement on platforms like TikTok and Instagram. Don’t miss her takes on Taylor Swift’s real estate portfolio.

Pricing

There are several tiers of Londono’s programs. The Millionaire Realtor Membership costs $97 per month, while the intensive Millionaire Real Estate Agent Coaching Program doesn’t publicly list its price tag. However, you can access her “six-figure real estate scripts” for free on her website.

Who’s it Best For?

Londono’s programs specifically target agents who are looking to scale their business. If you’re struggling with lead generation or want to increase the number of views you’re racking up on social media, Londono is a valuable source within the industry.


10. Steve Shull

Headshot-Serhant

Key Facts

Steve Shull’s Performance Coaching focuses on using consistent execution to achieve your goals. With options ranging from 1:1 private coaching to small group coaching for 10 to 20 agents, the groups have 30-minute Zoom calls three times a day, but the number of sessions you choose to attend is up to you.  Several self-directed courses are also available on the website, focusing on topics ranging from mindset to time blocking.

What we love

If you’re not positive you want to make the investment, Performance Coaching allows a 14-day free trial of daily accountability calls. 

Pricing

Small group coaching costs $6,000 a year, and while 1:1 coaching prices aren’t listed online, you should prepare for a hefty price tag. 

Who’s it Best For?

If you have a specific area you’re looking to improve upon, Performance Coaching offers coaches with unique areas of expertise, ranging from CRMs to business strategy. Tailoring your program to your greatest areas of weakness can help you become a more well-rounded agent.


11. Aaron Novello

Headshot-Serhant

Key Facts

Aaron Novello of Elite Real Estate Coaching has several programs tailor-made for agents looking to hone their craft. A Masterclass in Systems works to teach agents how to scale their real estate business, organize their team, and use programming like Follow Up Boss to manage their business.

The Role Play Mastermind is for agents looking to prepare themselves for tough discussions by working with a role-play partner for 15 to 30 minutes, five days a week. The group coaching option includes a variety of scripts Novello used to close on homes, as well as mindset guides, skill sheets, and expert guidance from experts in the field.

What we love

Novello’s exclusive accountability group allows active members and former coaching clients to share everything from guidance to motivation. If you’re looking to save money, Novello also has a free podcast available on YouTube.

Pricing

Group coaching costs $250 per month and comes with a money-back guarantee. Novello’s masterclass also retails for $250. The Role Play Mastermind costs $500 per year.

Who’s it best for?

If you struggle with having difficult conversations and are looking for solid templates to guide you, Novello’s Role Play Mastermind is a solid investment. The group coaching option emphasizes taking the educational portion and putting it into practice in the real world rather than just watching videos.


12. Krista Mashore Coaching

Key Facts

Filled with energy and known for popping up in the press, Krista Mashore is the mind behind Unstoppable Agent, her 3-day mastery class. It includes over 15 hours of coaching, group workshops, breakout sessions, and skill-building workshops to provide you with the skills to implement digital marketing successfully into your real estate business. 

What we love 

A positive attitude counts for a lot, and Mashore’s personality is a key component of the success of her course.

Pricing

Mashore’s accessibility is another one of her program’s best assets. Her 3-day class is currently priced at $47, but pricing occasionally varies.

Who’s it best for?

If you crave energy and enthusiasm, Krista Mashore has the goods. She’s also an expert on working in today’s low-inventory market, which is ideal for someone struggling with the current housing shortage. But she’s also got a good sense of humor, which shines through in her social media presence.


The full picture: The best real estate coaches for 2024

Hiring a top real estate coach goes far beyond just expanding your skills. While growing and educating yourself as you navigate your career is essential, hiring a coach is all about seeking to achieve more. Whether you’re looking to boost lead generation, build a solid personal brand, or make more commission income, having the input of a seasoned expert is a priceless step in the right direction. As you can see through the endless reviews and testimonials on coaches’ websites, agents who want to scale their business and take their profits to a higher level often seek the outside guidance of a coach. While the cost of hiring someone may be significant, the return on investment is equally as monumental.

Frequently Asked Questions

  • How much does real estate coaching cost?

    Real estate coaching programs vary in price significantly. Most cost over $500 per month, with others charging several thousand dollars per month. “Oftentimes, it is the case that you get what you pay for,” said Kyle Scott, President of SERHANT. Ventures.

    However, prices can also vary depending on the specific niche of real estate coaching you’re focusing on. The more specificity you’re seeking, the higher the financial investment. Of course, self-led courses are likely to cost much less.

  • When is the best time to take advantage of real estate coaching?

    Does your career feel stalled right now? Are you ready to take your career to the next level, but you’re not sure where to start? In a down market, you can channel your time and energy into actively improving your business skills so that you’ll be sufficiently prepared for when the market changes.

    “When things pick up again, you’re ready to capture the climbing market,” says Scott. “If that’s the case, then the best time to embrace coaching is now. At the same time, a thriving market presents agents with new challenges, ranging from having to turn away business or being unable to service your existing business in a way you’re proud of,” Scott noted. “In that type of market, a real estate coach can help you determine what kind of junior agent or assistant would serve you best. How do I figure out how to manage my business in a way that I can keep up with the volume?”

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Part 1: Current State of the Housing Market; Overview for mid-March 2024

Today, in the Calculated Risk Real Estate Newsletter: Part 1: Current State of the Housing Market; Overview for mid-March 2024
A brief excerpt: This 2-part overview for mid-March provides a snapshot of the current housing market.

I always like to star…

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Today, in the Calculated Risk Real Estate Newsletter: Part 1: Current State of the Housing Market; Overview for mid-March 2024

A brief excerpt:
This 2-part overview for mid-March provides a snapshot of the current housing market.

I always like to start with inventory, since inventory usually tells the tale!
...
Here is a graph of new listing from Realtor.com’s February 2024 Monthly Housing Market Trends Report showing new listings were up 11.3% year-over-year in February. This is still well below pre-pandemic levels. From Realtor.com:

However, providing a boost to overall inventory, sellers turned out in higher numbers this February as newly listed homes were 11.3% above last year’s levels. This marked the fourth month of increasing listing activity after a 17-month streak of decline.
Note the seasonality for new listings. December and January are seasonally the weakest months of the year for new listings, followed by February and November. New listings will be up year-over-year in 2024, but we will have to wait for the March and April data to see how close new listings are to normal levels.

There are always people that need to sell due to the so-called 3 D’s: Death, Divorce, and Disease. Also, in certain times, some homeowners will need to sell due to unemployment or excessive debt (neither is much of an issue right now).

And there are homeowners who want to sell for a number of reasons: upsizing (more babies), downsizing, moving for a new job, or moving to a nicer home or location (move-up buyers). It is some of the “want to sell” group that has been locked in with the golden handcuffs over the last couple of years, since it is financially difficult to move when your current mortgage rate is around 3%, and your new mortgage rate will be in the 6 1/2% to 7% range.

But time is a factor for this “want to sell” group, and eventually some of them will take the plunge. That is probably why we are seeing more new listings now.
There is much more in the article.

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Pharma industry reputation remains steady at a ‘new normal’ after Covid, Harris Poll finds

The pharma industry is hanging on to reputation gains notched during the Covid-19 pandemic. Positive perception of the pharma industry is steady at 45%…

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The pharma industry is hanging on to reputation gains notched during the Covid-19 pandemic. Positive perception of the pharma industry is steady at 45% of US respondents in 2023, according to the latest Harris Poll data. That’s exactly the same as the previous year.

Pharma’s highest point was in February 2021 — as Covid vaccines began to roll out — with a 62% positive US perception, and helping the industry land at an average 55% positive sentiment at the end of the year in Harris’ 2021 annual assessment of industries. The pharma industry’s reputation hit its most recent low at 32% in 2019, but it had hovered around 30% for more than a decade prior.

Rob Jekielek

“Pharma has sustained a lot of the gains, now basically one and half times higher than pre-Covid,” said Harris Poll managing director Rob Jekielek. “There is a question mark around how sustained it will be, but right now it feels like a new normal.”

The Harris survey spans 11 global markets and covers 13 industries. Pharma perception is even better abroad, with an average 58% of respondents notching favorable sentiments in 2023, just a slight slip from 60% in each of the two previous years.

Pharma’s solid global reputation puts it in the middle of the pack among international industries, ranking higher than government at 37% positive, insurance at 48%, financial services at 51% and health insurance at 52%. Pharma ranks just behind automotive (62%), manufacturing (63%) and consumer products (63%), although it lags behind leading industries like tech at 75% positive in the first spot, followed by grocery at 67%.

The bright spotlight on the pharma industry during Covid vaccine and drug development boosted its reputation, but Jekielek said there’s maybe an argument to be made that pharma is continuing to develop innovative drugs outside that spotlight.

“When you look at pharma reputation during Covid, you have clear sense of a very dynamic industry working very quickly and getting therapies and products to market. If you’re looking at things happening now, you could argue that pharma still probably doesn’t get enough credit for its advances, for example, in oncology treatments,” he said.

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