The Great Home Selling Panic of 2024

The Great Home Selling Panic of 2024
The idea of home selling is making seller scared of this market meltdown. Prices continue dropping. It's taking longer to sell. Buyers are just the opposite with so much inventory to choose from. Are you freaking out about this market? Share your thoughts below...
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[@clipartinc]

Thanks for your honesty and knowledge!

[@johnmwieland]

That's the only way to do business @clipartinc! ✌👍

[@emilo81]

I'm not freaking out because Demand is high, inventory is low, and prices are still at record levels.

[@johnmwieland]

@emilo81 - So are you a homeowner/seller? Demand in SoFlo is down from a year ago... inventory is up 83% in Delray Beach YOY (graphs are in the video for other cities) and yes prices are still high, but price drops on active listings are now down 8%. Staying current is key. 👊✌

[@nwj03a]

All it takes is looking at home prices in the USA vs median income. There are charts of it going back to the 1970s. The gap is growing, it has shrunk a few times in a substantial way, but those times are during recession.
Unless you are saving to buy during a recession, housing will only ever get more expensive. It’s a fact.

[@johnmwieland]

Great point @nwj03a - I believe the median income to home price ratio is now 40+%? Growing one's income is becoming a big issue to solve..

[@jeffmaggard3694]

Nothing is going to happen. They have to keep the price high and make it look like everything is good.

[@johnmwieland]

We know like most markets, real estate is cyclical so prices won't stay high forever. And there are cracks popping up, but the greater trend still looks ok for now.

[@pddoublu]

Thanks for info packed 12 minutes!
It sounds like holding off buying a condo is the smart choice at the moment with all that’s going on in regards to them.
Thoughts please.

[@johnmwieland]

Buying is a personal decision. Yes, there are a lot of yellow warning signs out there, but "this too shall pass" is what some in the market say. HOA's, home insurance prices... they are being stretched like a rubber band - it's it'll find its way back to the mean, soon.

[@williewill1237]

You’re both delusional, more like $250,00

[@johnmwieland]

@williewill1237 - huh? What is $250,00? Both of who? 🙂