Has housing market hysteria returned? For a few months, homebuyers took a sigh of relief as competition stayed low, prices began to drop, and the real estate market returned to reality. But it seems like the days of sweet deals and plenty of showings are now behind us as homebuyers are jumping back into the market. So what’s causing this housing market madness to refuel, and are we returning to 2020-2022’s crazy competition?
In this BiggerNews update, David Greene and Dave Meyer discuss some top headlines affecting the housing market in 2023. First, they’ll get into the nitty gritty of new inflation data and why prices are still high even after some good news. Next, they’ll talk about the newest real estate recovery and give their spring 2023 housing market predictions on whether or not home prices could rise and competition could return. Then, a debate over how the US dollar could be replaced as the world’s reserve currency and which countries are out to take its place.
Plus, if you’ve been waiting to get your hands on a new short-term rental property, you could be in luck. Recent data points to a stark shift in vacation home demand as the vacation rental market gets saturated and work from home starts to level off.
If you want up-to-date data on everything happening in the housing market and beyond, tune in and grab Dave’s FREE Q2 real estate report!
David:
This is the BiggerPockets Podcast Show 760.
Dave:
People are eager to buy into the housing market right now. Affordability is low, but as soon as affordability improves even a little bit, people are sort of jumping back in and are buying. Denver where I mostly invest, which was up until a couple weeks ago, one of the markets facing the biggest corrections. Activity there has just exploded over the last couple weeks. So I think it’s way too early to say the correction is over, but I am surprised by how brief that correction so far was.
David:
What’s going on everyone. This is David Greene, your…