When are the Real Estate Prices Going to Stop Soaring

This real estate market is very robust, do you see any signs of this real estate market slowing down?

Looking at Latest #s:

  • The Market is Still Very Strong
  • Inventory down by 61.3% 
  • Only 583 Homes on Market
  • Should be Over 2500 Homes on the Market

Number of Home Sales UP by 36.2%

Average Sales Price UP by $55,627 Since January

 

Could the Housing Market Correction be Here?

 

  • Drop During COVID
  • Surge After COVID
  • Mortgage Applications DOWN

Builders are Building at 15 Year High

  • HOUSING STARTS UP 17% IN ONLY 2 YEARS
  • MOST WE HAVE SEEN IN OVER 15 YEARS
  • Housing Starts – Measure when Shovel Put In Ground
  • Takes 6-18 Months to Complete a Housing Unit
  • We have Not Seen Impact on Inventory
  • Expect an Inventory Surge

  • Just as Home Demand is Softening
  • Increase of Inventory will Go Up
  • So What?
  • If you are thinking of selling…
  • DO NOT WAIT Until Next Year!

  • Peaked early May – 300% in Average
  • Since then. Lumber Prices down 30%

Real estate is all about supply and demand:

Lumber Argument was always a Red Herring

  • Justification that Real Estate Pricing Surges will Continue?
  • Housing Costs more Expensive

Define Bubble:  

  • Seeing Indications in a Decline in Demand for Homes
  • New Home Building is Surging Record Levels
  • Eviction and Foreclosure Moratiums Rolling Off at End of June
  • All Happening at ONCE

We Are STILL IN a STRONG SELLERS MARKET

Find out How We Help Our Home Sellers Get The MOST Money When You Sell.

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Barb Schlinker, Listing Agent

5 STAR REVIEWS
719-301-1802