Discounted real estate deals could be coming THIS winter as the housing market begins to “thaw.” Today, Dave is flying solo, bringing you a housing market update on all the crucial factors real estate investors are looking at—home prices, mortgage rates, housing supply, and rent prices. Even with home sales falling by a massive margin, home prices are still at all-time highs, and the housing market is “stuck,” but we could see some sellers taking price cuts this winter if you’re willing to take advantage.
Okay, but how can home prices still be THIS high when the total home sales are twenty percent lower than average and around fifty percent under the recent highs? It’s simple—affordability struggles. High rates, high prices, and “locked-in” homeowners staying in place keep the market frozen. So, why does Dave believe sellers will be more inclined to drop their prices this winter? Where does he believe interest rates will be by the end of the year? And what’s the one thing that could get the housing market “unstuck”?
In This Episode We Cover:
Why Dave believes real estate deals are coming THIS winter
Mortgage rate predictions and how low rates could go by the end of this year
Whether to buy now or wait for affordability to improve, prices to drop, and rates to fall
Why home prices are still rising EVEN with homebuyer demand plummeting
The MASSIVE drop in home sales since the pandemic boom and why prices have remained high
And So Much More!
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Nearly A Quarter of Prospective First-Time Homebuyers are Holding Off Until After the Election: Redfin Survey
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The Fed Finally Cuts Rates, but Will It Even Matter?
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(00:00) Intro
(00:50) Home Prices Are Changing
(04:57) The Deals Are Coming
(06:05) MASSIVE Decline in Home Sales
(11:12) So…Why Are Prices High?
(16:19) Mortgage Rate Forecast
(18:14) Buy Now or Wait?
(19:17) Rents Still Struggling
(21:56) Winter Opportunity
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/real-estate-1037
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The Housing Market is Changing (Deals Are Coming in Winter) | BiggerPockets Real Estate Podcast - Listen or read transcript on Metacast
