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”?
Dave:
We are rounding out what has been another very interesting year in the real estate market and I find myself looking at the data trying to understand what the housing market is trying to tell us and where the best opportunities may lie this winter. Hello my friends, it’s Dave. Welcome to On the Market. In the last couple of weeks I’ve been doing some analysis just trying to figure out what’s going on right now, and it pointed me towards answers to the questions I just posed above and I recorded some replies and thoughts about what’s happening this winter and initially put it on an episode of the BiggerPockets Real Estate podcast, but I wanted all of our on the market listeners to enjoy this information as well. So that’s what we’re going to do today. I’m going to share with you my thoughts on what the housing market is telling us and what we’re going to see through the end of the year.
And if you are…