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?
- Now 681K homes for sale in the US
- Down heavily from 1.3 Million in June 2019
- Interest Rates at All-Time Low
- Stock Market at All-Time High
- Not Many Places you Can Park Your Money Safely and
- Avoid Incoming Inflation Tax
Per Redfin CEO:
- Because People can work from Home
- Long Term Trend of Migration
- From the High Tax States to the Lower Cost States
Blaming Wall Street for Competing with Owner Occupants for Homes
The Wall Street Buying Game
- Open Door (cash offers OVER market value)
- Zillow (cash offers WAY OVER market value)
- Renters Warehouse (cash over asking)
- Home Partners (cash over asking)
Second Home Demand DOUBLED!
- Inventory is coming up slightly to 823 Homes
- 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!
We’ve seen indications that the market could be softening, what are some other things potential home sellers should know?
Real estate is all about supply and demand:
- Supply still low
- Sales up by 25%
- Average DOM 350-650 – 6 Days
If it takes longer than 6 days:
- Price too high
- Marketing wrong
- Not enough Updating
> Indications in a Decline in Demand
> New Home Building is Surging
> Eviction and Foreclosure Moratoriums Ending at End of June
> All Happening at ONCE
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