Home prices are falling fast in some prime real estate markets across the country while others remain stubbornly stuck. What’s the defining factor between a stable housing market and one where sellers are actively cutting prices? Housing inventory! This metric defined the 2020 – 2022 run-up in home prices, but the rubber band of demand is snapping back as buyer power grows, housing inventory rises, and investors get even better buying opportunities.
Remember when people said, “I’ll buy when prices drop”? Well, now might be the time.
ResiClub’s Lance Lambert joins us to provide a holistic view of housing inventory, prices, demand, and emerging opportunities. Lance walks through the most up-to-date data on where housing inventory is rising fast, where prices are quickly declining, and which markets are holding on as sellers remain in control.
We’ll also talk about why homebuilding costs are about to JUMP and the reason Warren Buffett sold his homebuilding stocks shortly after buying them. Will construction slow down, limiting new inventory and leading us back into ultra-low supply? If so, this could push home prices higher, creating a prime opportunity for real estate investors.
Dave:
Hey everyone. Welcome to On the Market podcast. This is Dave Meyer here. There’s an episode of the BiggerPockets podcast that we just recently ran that I think is a great episode for our audience here on the market. It’s an interview I did with Rezi Clubs, Lance Lambert. He’s actually been on the market several times before, and if you know anything about him, Lance is a data journalist. He runs his company, Rezi Club, where he tracks all sorts of real estate data in a really cool way. It’s very visual and super helpful in understanding some of the biggest trends. And in this conversation I had with Lance, we’d go in depth about inventory and why comparing inventory levels to last year is kind of useless. And comparing inventory levels back to 2019, which was the…