It’s a bit sluggish around town and it will probably stay that way for the foreseeable future – and likely for years to come. Prices and rates are high, and the inventory keeps growing, which gives buyers hope that either the perfect house will come along and/or prices might go down.
It’s real estate stagflation, also known as Flat City!
Hoppy Easter!
Prices & interest rates are both high. 16 years of unprecedented money printing got us here.
And now, inventory is rising. Wouldn’t it make sense for buyers to wait?
Delusional sellers and realtors opining that now is always the best time, lol.
Wouldn’t it make sense for buyers to wait?
Yes, absolutely.
But wait for what, exactly?
Lower rates? Unlikely in our lifetime. Lower prices? Maybe, but only on the bad locations, dumps, and fixers. Want one of those?
Waiting for something to get better is an illusion, at least for now.
It would take another 5-10 years of boomers dying off to stack the inventory so high that there was a major price adjustment.
Keep in mind how many flippers are out there. I’ll say there are hundreds in north county. They will get those deals, and flip them for retail-plus. Not you and me.
Plus, the dollar is shrinking in front of our very eyes. Wait until true currency devaluation comes, then these prices will look cheap. No one under 50 understands what a falling dollar can do to real assets.