These people have been insisting for years that prices will be going down because of higher rates, foreclosures, forbearances, recession - you name it! Will fewer sales will cause higher or lower prices? The authors below say that lower sales volume will result in the...
Mike is one of the more level-headed analysts, probably due to the wealth of national data he processes. There will probably be a solid undercurrent of activity as evidenced in the graph above: Mike's tweet: Prices, meanwhile are still strong. 5 bidders instead of 50...
Good summary of today's market conditions by Nick: Link to Free...
Our new listing in NE Carlsbad with some commentary on market conditions:
Imagine the pricing quagmire we are in. The homes on the market today were priced according to comps from 1-4 months ago, which were the craziest-priced sales in the history of real estate. To make matters worse, sellers are naturally drawn to the highest-priced sales...
Even though real estate is local, the homebuyer psychology tends to be similar across the country - mostly because people are people, and have similar reactions to every variable. When they see mortgage rates go from 3% to 5.5% in less than six months, it's only...
The talking heads are saying that higher rates are slowing sales, and I say it's the lack of inventory. If higher rates were the cause, we would see more active listings piling up. This chart shows how the pendings have dropped off from last year - especially those in...
When people are looking for the perfect 'forever' home that will last them for a lifetime, any additional cost isn't going to phase them - or at least it won't affect the affluent folks. Most are making it up elsewhere when they sell their previous home or rental...
https://homelightblog.wpengine.com/wp-content/uploads/2022/03/HomeLight-Buyer-Seller-Insights-2022.pdf This looks pretty normal: In an era where 50% or more of the homes for sale receive multiple offers, yet half or more of the sellers don't ask the buyers to improve...
My thoughts on commentary seen in the news today: With rates rising, and prices significantly higher, the average borrower is paying about 38% more on the monthly payment now than they would have for the same home one year ago, according to Realtor.com. JtR: This is...
