Housing demand stalls as homebuyers wait for lower rates
HTML-код
- Опубликовано: 8 сен 2024
- Guide to Market Data: bit.ly/altos-e...
Demo Altos: altosresearch....
Altos Research is the premier resource for real-time real estate data. We provide weekly market statistics, analysis and reporting for 99% of the zip codes in the U.S., helping real estate professionals, investors, financial institutions, and their clients make better-informed decisions.
Featuring Mike Simonsen, President of Altos Research
A true data geek, Mike founded Altos Research in 2006 to bring data and insight on the U.S. housing market to those who need it most. Altos provides national and local real estate data to financial institutions, real estate professionals, and investors across the country, and the company is now part of HW Media, publisher of HousingWire and RealTrends. Mike uses Altos data to identify trends in the real estate market well before the headlines, and his work has been featured in the New York Times, The Atlantic, Fortune, Forbes and other publications.
Please like this video and subscribe to our channel if you want to see more videos like this.
You can also follow us on Twitter for more data analysis and insights:
/ altosresearch
/ mikesimonsen
See you next week!
#realestate #realestatemarket #housingmarket
Altos Research is now part of HW Media! Check out their channel at @HousingWire for more housing market insights.
Because so many people overpaid for homes even while loan rates were low, I believe there will be a housing catastrophe because these people are in debt. If housing costs continue to drop and, for whatever reason, they can no longer afford the property and it goes into foreclosure, they have no equity since, even if they try to sell, they will not make any money. I believe that many individuals will experience this, especially given the impending mass layoffs and rapidly rising living expenses.
I advise you to invest in stocks to balance out your real estate, Even the worst recessions offer wonderful buying opportunities in the markets if you're cautious. Volatility can also result in excellent short-term buy and sell opportunities. This is not financial advice, but buy now because cash is definitely not king right now!
You're correct! With the help of an investment coach, I was able to diversify my 450K portfolio across markets and produce slightly more than $830K in net profit from high dividend yield equities, ETFs, and bonds.
Would you mind providing details on the advisor who helped you? saving for a pension through a corporate program since the age of 18. I hit greater tax along the road, so I increased my company pension with a SIPP (tax benefits). I'm now 50 and would love to expand my finances more aggressively; there are a few automobiles I still want to drive and a few mega-vacations that I still want to take.
My CFA ’Melissa Terri Swayne’ , a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.
I located her, sent her an email, and scheduled a call; hopefully, she will reply because I want to start the new year off financially strong.
We buyers are waiting for lower housing prices, not lower rates!
exactly!
You might get both!
No you're not. I have a house for sale RIGHT NOW that is $50k under the closest comp and I've had ONE showing and NO interest!
@@raymond_sycamore lower it more and find put which one wins.
I want both, lower rates AND housing prices.
Prices are so high that I really don't think anything in the 6% range is going to move the needle. Rates were at or around 6 - 6.5% last summer/spring and sales were still depressed.
Run the math, homes are priced at 3.5% mortgage rates.
If you can only afford the home you want as currently priced at 3%, dropping mortgage rates from 7% to 6% doesn't mean anything.
Used house salesmen been simply getting people to settle for the house they didn’t want
With fears of buy now or rent forever
Well said.
According to one study 55.1 million American households can afford the median home at 7% mortgage rates, 60.5 million at 6% and 74.3 million at 3%. We don’t need the rates to go that low for getting enough people to get in the market to absorb what we have in _most of the country_.
@@poonekar are you sure? because rates dropped from 8.0 to 6.8 and demand is still just as low as ever.
@@seanoconnor8138 That is a fair point. The difference in the number of households that qualify at 7 vs 8% is ~60% of the difference in the number of households that qualify at 6 vs 7% though. So, the increase in demand is non-linear as rates go down. Also, besides rates, buyer sentiment plays a role in demand as well. With election uncertainty getting resolved later in the year, it could help unlock more demand too. It'll be interesting to see how things play out.
Dropping the FED funds rate 1/4 or 1/2 percent will do almost nothing for affordability. Plus there are a lot of cash buyers who can easily afford these new prices but don't want to feel like they are getting ripped off. Buying a $300K home for $500K for example. Renting is now smarter in most cases / areas. The sellers have to sell. The buyers don't need to buy. Prices will fall.
Really think fed wants housing to crack 15%. Couple that with rates in 5,s you might get more 'affordable'.
Not interest rates, prices!!! Don't know why so much push to feed the narrative of lowering rates... by so many analyst.
SERIOUSLY
realtors need those commissions. they were playing on easy mode in 2020-2021. now they can't afford their audi payment
"Stalls" is putting it lightly. It's completely halted.
True! My son averages 8-10 transactions per month. First time in last 5 years that he has had ZERO escrows back to back months. It feels very recessiony.
@@ryandorough6954 ouch. yikes. Yes, I have had a newly renovated 3 bed/2 bath (the supposed gold mine) for sale for a month with ONE showing and no interest. I'm $50k under comps
waiting for MUCH lower PRICES
Good luck, hope you are right but I doubt it
@@billricheter5678 math an history says I'm right
@@NoOne-h7o supply is very low. Also history hasn’t shown people to desire to buy like today. Also people have been talking crash for years using history and prices keep climbing
@@billricheter5678 By very low you mean highest since the pandemic and that's ignore newly built homes. Prices have stalled since 2022. Look at HUD reporting of sales. People don't understand what's needed for a crash, like you.
@@NoOne-h7o I wish you were correct, I have been looking to buy for two years since we sold. Anything west of I-25 in colorado has gone up at least 20 percent in last 2 years. Look at Zillow. Can’t get anything in boulder for under 1.5 million
Things will look better for buyers when we have 12months of inventory
No demand coming back with these prices and a tiny bump down in interest rates
Realtors & Loan Brokers want lower rates. Buyers want lower prices.
Bro Travis had been looking for you😂.
@@House_hacker_619 bro are you a realtor, investor, or greedy seller?
Take 2: "Housing demand stalls as homebuyers wait for an affordable monthly mortgage payment"
I think take 2 makes more sense. Use take 2.
thanks mike for the weekly updates. no bs and concise
Lol... The comments are pointing out what is obvious to the typical consumer or the opposite... what the realtors want us to believe.
Need lower prices, not rates
Amazing how many people who focus on rate instead of the far more important PRICE
Stop promoting the nonsense that rates must fall to support your absurd price.
So true. And he markets to realtors to train them to better fool their clients into buying (against their best interest). Almost like a quack doctor selling worthless potions. Borderline evil IMHO.
Best housing market analysis on RUclips period
Jason Walter is good for bringing lots of data
I could do better. I'm just not as thoughtful or photogenic or familiar with the data.
@@SigFigNewton I definitely tune into Jason as well. He's great.
Y’all giving up on Travis, reventure and Walters 📈??
@@House_hacker_619 some seem more set on highlighting information that fits a narrative they put in place
Same way older people become incapable of changing political views
Nice video. I'm favoured, $27K every week! I can now give back to the locals in my community and also support God's work church. God bless America. Thanks to Sonia Duke
Wow I am surprised you mentioned her name here. She helped me recover all I lost trying to trade myself.
Her crypto trading strategy is quite different 😊
I'm glad to write her tay I do hope she will help handle my paycheck properly☺️☺️☺️
Can I start with as low as $1,000?
Mrs Sonia Duke is gradually getting the recognition she rightly deserves. She's worked for it and this is only a testament of her good works for families
hold the line people!
cant wait til sellers realize that all the buyers waiting for lower rates already got them from buydowns on new builds, the demand is lower than most realize
Price and cost of ownership. You have to factor in items that are now much more significant like home insurance, taxes at a higher price, and hoa. Plus interest cost for the mortgage. So if it costs 2 to 3 times as much to i own the same investment, that investment has much less value
Lower prices is the issue, NOT rates. Overvalued priced homes...period.
Mike, I love your videos and the information you share. It is so helpful! However, your audio is too low, I have to blast my volume to hear you better 😖 Just some random feedback to make your reports even better! Thanks 🙏
This is another concise, meaningful explanation for one element of the current market. Good job, Mike!
ITS THE PRICE FOOLS
It's not the rates that need to drop; its the prices. They're just too damn high.
Might as well rename this channel Altos Realtor Sales Strategies.
I mean that’s what their entire product is? It’s no secret they sell data to realtors
@@Rustyshackleford20 It’s not the selling of data that I’m talking about. It’s the slanted interpretation of the data in these videos. Pretty much everyone on RUclips who has something to lose if prices come down are trying to direct everyday viewers to interest rates, avoiding entirely the elephant in the room.
@@tradewisetv2801 oh yeah totally agree. I find it hilarious when bigger pockets is saying prices will never come down. It’s like well yeah of course you don’t want that, your life would be over lol
I'm favoured, $22K every week! I can now give back to the locals in my community and also support God's work and the church. God bless America.
As a beginner what do I need to do? How can I invest, on which platform? If you know any please share.
Investing in crypto/forex is a good idea,
a good trading system would put you
through many days of success.
Investing $15,000 and received $174,000
Same, I met Mrs Anna Davis last
year for the first time at a conference in
Manchester, after then my family
changed for good. God bless Mrs Anna
YES!!! That's exactly her name (Mrs Anna ) so many people have
recommended highly about her and am
just starting with her 😊 from United States
realtors are somehow never concerned 😂
Prices dropping equal to the percentage of US money (that ever existed) that was printed in the last 8-10 years should get sales up. So that is what...40%.
The issue is that either the renter or the owner must in some way pay insurance and property taxes if they want a "permanent roof" with utilities like electricity, gas and water. Because of this, many people-at least in California, where I currently reside-are living in tents. No taxes, rent, mortgages, or insurance. The number of people who tell me they live in their car that I meet amazes me. Its crazy out here!
It’s getting wild by the day. The prices of homes are quite ridiculous and Mortgage prices has been skyrocketing on a roll(currently over 7%). Sometimes i wonder if to just invest my spare cash into the stock market and wait for a housing crash or just go ahead to buy a home anyways.
I get such worries too. I'm 50 and retiring early. Already worried of the future and where its headed, especially in terms of finances and how to get by. I'm also considering making my first investment in the stock market, but how can I do so given that the market has been in a mess for the majority of the year?
For you to grow your portfolio in today's market, you really need to be coachable and willing to get off your high horses. I for example, have managed to grow mine from $150k to 300% of my initial deposit within the past 13 months just by copying trades from a broker that has better skillset and technical know-how than me.
Who is this person you are talking about that you work with?
Her name is “Jessica Lee Horst” can't divulge much. Most likely, the internet should have her basic info, you can research if you like.
Does your company do data down to local areas?
No crash.
Never time the market. Buy the right home for you that you can afford.
This is really good advice for first time homebuyers. For those of us that already own and are willing to gamble, we might take a different approach.
Let me guess...NAR member.
New listings stalled as sellers wait for lower rates
I think when rates drop inventory will flood the market
Not waiting for lower rates. 1% lower is NOT going to g to make a difference.
In case you have not noticed. The American ppl are tapped. Inflation and Biden omics are killing us. The housing mkt will tank even with rate lowers. Thanks democrats.
No it's not rates alone. We're waiting for lower prices. Prices should not have grown this much in 4 years and we all know it was caused by greedy investors wanting to maximize returns and monopolize the housing market. Lower rates will actually allow more people to sell and drive up inventory. Demand won't budge til houses return to a reasonable price.
Markets are different across the country. Parts of TX and FL seeing corrections, while most markets are flat or up a little. No ctash, just a normal US market
Happens every year …. Up in Spring; down in mid summer fall and winter ….
Doing your best for spinning lipstick on a pig. Demographics: thre 5th most powerful force in the universe, is now working against real estate. The last 2 years, the trend was working in favor and we couldn't sell. Good luck