Sellers SLASH Home PRICES | Housing Market Update
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- Опубликовано: 4 май 2024
- Sellers are cutting home prices in areas like Florida and Texas, hinting at a possible shift in the housing market.
8% & Recession AHEAD:
• 8 % & Recession AHEAD ...
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Развлечения
Nobody wants to lose their equity.
I’ve been covering San Antonio on my channel and my observations are 1. Builders built based on 20-21 migration patterns that didn’t continue in 22-24, 2. Military cities show rate less lock-in effect because people don’t have the luxury to stay point if stationed elsewhere 3. Seeing both individuals and companies selling following huge property tax hikes. American homes for rent has sold a bunch and all had property tax increases if 30% in 1 year.
I’ve been a real estate agent/broker for the last 25 years and have sold and bought hundreds of homes! I’ve been saying for the last 2 years to expect a 50% drop in prices before this is over! But what do I know?
Depends were you live
The median sale price for an existing home rose more than 40% between early 2020 and mid-2022, topping out at a seasonal peak just over $400,000, according to the National Association of Realtors. The bubble has reached its peak, so not the deflation begins. The question is at what rate. Due to no real catalyst, like the subprime rate reset in 2008 resulting in increased foreclosure rates, my prediction this will be a slow and steady correction so I pity the fool who buys this year even if mortgage rates decrease as you are paying waaaaaaay to much. Just look at the historical home price trend line from 2015 forward. Its so easy to see the artificial increase and steep increase in the 2020 to 2022 time people. If you are a realtor, you might consider getting a side hustle to augment some income for the next couple of years.
That would be amazing. I could finally afford to own.
BTW, you’re pronouncing Cape Coral wrong. It’s not for holding pen for horses. It’s the coral found on reefs in Florida!
Location, location, location.
I live up the 95 from you in Baltimore and I've noticed that inventory is rising here. By the summer, we will see, what I believe, double the inventory compared to the summer of 23 and within 18 months, back to pre pandemic levels.
Nationwide inventories are still 1/2 the pre-covid (back when the market was normal) so all these increases are just catch-up for the lack of inventories during COVID. The same data shows sales not at pre-covid levels. The only numbers higher then pre-covid are home prices. New home builds are also slowing dramatically. Both permits and new build starts are down 4% and 14% respectively.
"Cool slightly" is realtor speak for a bloodbath😂
stopped watching this video when you sited someone talking about the "increase in climate change". Please! I gladly listen to real facts that influence the markets, not pseudo science about climate change.
"psuedo"