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Just double sided my listing
Nice!!!
The housing market is unaffordable for most Americans and pricing will come down in many markets. It’s basic math.
Na, they said that for three years now. Inventory is still low. Sales are picking up, not slowing down. We will see the same price increase this year…around 5%. Simple math.
If inventory is so low why are listings sitting 6 months now? Lot of listings not selling. The average household can no longer qualify for the inflated prices.
Yep, affordability is just gonna get worse. The little is nothing!
I don’t get how people are affording these homes, the majority are just moving old home money to new homes.
It’s getting better…what do see as the path of it getting worse? Inflation is getting better, mortgage rates are slowly coming down, and wages are growing while home prices are getting back to their normal annual rate and inventory is still a huge problem.
Prices go down in many areas. When they measure the average/ median price, they need to calculate new construction separately from the resale because often new construction builds more expensive than the averages for the area. That pulls the numbers up and makes it look like prices are going up while resale actually is trending down. Many areas have huge number of price reductions, huge number of expireds. I really wish we stopped these talks about prices going up. It misleads the public, especially the sellers. Even the same metro will have different areas where the trends are opposite.
I talk very strongly in this video about understanding your local market data and how each market is very different. Be the local expert. Yes!
In Orlando and did good last year 28 deals got 1 buyer pending and one listings with no showing for first 10 days starting of a little slow new listing rolling out next week. There is a lot of inventory but it’s gonna pick up in march
Nice work!!
When the average mortgage payment gets higher than 40% of average household monthly income the prices must drop. Simply because the average household can’t qualify for the payment anymore. It happens when the average home price hits about $400,000.
It won’t get better until prices go down instead of up. Rates tripled and have barely declined and prices are still high…
Rates will go down again this year… BUT prices will continue to go up causing a massive barrier to entry with down payments on homes. Which is the hardest part for anyone to buy a house today and last I checked, 100mil Americas are too broke to buy a house. It’s only going to get harder for buyers, and for sellers who get the right buyers, still going to be a good time.
that’s crazy. In 2012 you needed 25% or less of your income to buy a home and they were teaching to allocate 30% of your expenses for housing.
Nowadays you need 40% of your income for housing and good luck.
Boston, MA are higher this year 😢. We are priced out by a huge amount. 😢we won’t be able to buy until prices drop.