US Growth Cities & 2024 Marketing Predictions

Alex Z.
January 16, 2024

Do any of these surprise you?

Home prices in the U.S. jumped 5.2% in November 2023 compared to the previous year, marking a significant increase from the 4.7% annual gain in October. This surge is driven by a decline in mortgage rates, with Northeastern states like Rhode Island, Connecticut, and New Jersey experiencing the highest growth.
Detroit experienced the largest annual price gain among cities at 8.7%, surpassing Miami's 8.3%. This shift is attributed to Detroit's catch-up in appreciation post-pandemic and its relative affordability compared to other Mid-west areas. However, despite being one of the most affordable markets, Detroit's home prices are considered overvalued relative to local income levels.
Approximately 82% of the 397 metropolitan housing markets surveyed are deemed overvalued, indicating a disparity between home prices and local household incomes. Major cities like Boston, Chicago, Los Angeles, and Washington, D.C., are exceptions, being considered "normal" in valuation. The future of home prices hinges on supply levels and mortgage rates, with expectations of a slight softening in prices later in the year.

2024 is expected to see a 15% increase in home sales over 2023, with home prices also rising. The year started stronger than 2023, showing clear signs of a recovering market despite the previous year's slowdown in Q3 due to high mortgage rates.
Inventory is gradually increasing, with 499,000 single-family homes currently unsold, a slight decrease from last week but 6% more than last year. This trend indicates a growing number of sellers, contrasting with the previous year's limited supply.
The regional disparity in inventory growth is notable, with increases in the South and Central US, but decreases in the Western and Northeast states. This uneven distribution could significantly impact the real estate market dynamics throughout 2024.

Despite economic challenges, global advertising spend is expected to grow, with a significant focus on AI marketing tools like Synthesia and Midjourney for creating lifelike videos and brand images. Staying updated with these trends is crucial for marketers and founders.
The use of AI, particularly GPT, in marketing is anticipated to rise, replacing some traditional copywriting roles. This will lead to the development of specialized marketing tools for various aspects, such as ad copy and lifecycle marketing.
Video content will become increasingly important in social media strategies, driven by user preferences and platform algorithms favoring video. This trend is evidenced by the average time children spend on TikTok and the rise of startups focusing on AI-generated video content.
Brands are expected to create more of their own content, like podcasts and newsletters, to build stronger associations with their audience. This shift is a response to consumer fatigue with traditional digital ads and a preference for valuable, educational, and entertaining content.

Here are my favorites

Local Events and News: Sharing and commenting on local events or news is effective, especially for businesses looking to establish a community presence. This approach helps connect with the local audience and fosters community engagement.
Real-Time Industry Updates: Providing updates or insights into your industry, such as breaking news or emerging trends, can engage your audience and position your brand as up-to-date and informed.
Interactive Posts: Creating interactive posts, like 'This or That' choices, polls, surveys, and fill-in-the-blank posts, can be a playful way to engage your audience and gain valuable feedback.
Personal Achievements and Milestones: Sharing personal or company milestones helps create a sense of shared journey and success. This approach encourages audience involvement and builds a deeper connection.
Collaborative Posts with Influencers: Collaborating with influencers or industry leaders for guest posts or shared content can bring fresh perspectives to your page and expose your brand to a broader audience.

Rapid Advancements in AI Video Technology: The article highlights the significant impact of generative AI on video creation, with new apps and features being announced regularly, making video marketing easier and more effective.
Invideo AI: This tool generates and edits videos from text prompts, including narration. It offers various workflow styles and customization options, and the author's test resulted in a high-quality script and voiceover, demonstrating the tool's effectiveness.
HeyGen: HeyGen creates personalized videos for email campaigns by mimicking a user's facial expressions and speaking style. The author's experience with HeyGen showed impressive video quality, suggesting its potential for creating highly personalized content.
Dubecos: A mobile app that translates users' videos into any language while maintaining the original voice, pace, and intonation. The author's test with Dubecos yielded excellent results, indicating its utility for multilingual video content.

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