Another article showing concern in the housing market- yet the author may have lacked critical thinking

housing_sales_01.webp
 
That chart doesn't mean what you think it means. Existing single family homes aren't selling because few are being listed, not because there aren't buyers. Nobody wants to give up a 2% loan to get a new house with a 7% loan.
 
That chart doesn't mean what you think it means. Existing single family homes aren't selling because few are being listed, not because there aren't buyers. Nobody wants to give up a 2% loan to get a new house with a 7% loan.
In places where new home construction is plentiful, existing home sales aren't selling because sellers have unrealistic price expectations.
 
That chart doesn't mean what you think it means. Existing single family homes aren't selling because few are being listed, not because there aren't buyers. Nobody wants to give up a 2% loan to get a new house with a 7% loan.
Existing home Inventory levels are up a fair bit in the last few months. The bottom of inventory was 2022. Its been rising since - on its normal seasonal cycle.

However as @GON mentioned, they may be lousy houses no one wants?
 
In places where new home construction is plentiful, existing home sales aren't selling because sellers have unrealistic price expectations.
I can believe that in many areas. Locally (Las Vegas), there is a lot of new construction plus existing homes are still rising in price and selling as they hit the market. I believe it's because of the large number of expats escaping The People's Democratic Republic of California for somewhere that's slightly less insane.
 
Silly TV shows make flipping properties look EASY and make big money.

Lots of people lose their **** trying to flip a property.
 
Just reviewed a report that homebuyers in three major Florida markets are backing out of deals at about a 20 percent rate, which is significantly higher than prior rates. The three markets are Tampa, Orlando, and Miami,

Funny thing- even with the rise in buyers backing out of contracts- home prices continue to rise in these three major Florida markets.
 
I 'spect the loss of ~10M invaders will have an effect on housing prices, especially iin the big cities.
 
I 'spect the loss of ~10M invaders will have an effect on housing prices, especially iin the big cities.
They are renting houses-multiple generations. They are not (generally) buying them. Except in isolated markets-this will have zero impact on local rental markets.
Source-been a landlord for 35plus years.....multiple properties.
 
Just reviewed a report that homebuyers in three major Florida markets are backing out of deals at about a 20 percent rate, which is significantly higher than prior rates. The three markets are Tampa, Orlando, and Miami,

Funny thing- even with the rise in buyers backing out of contracts- home prices continue to rise in these three major Florida markets.

Most of Florida is no longer affordable for middle class folks.
 
Most of Florida is no longer affordable for middle class folks.
I was a first-time homebuyer in 1984. I purchased a new construction home in Royal Palm Beach Florida. 3 bedrooms, 2 bathrooms, 1040 square feet on a 1.25 acre lot with a pond. $54,000 USD. I suppose I could have got a better price, but I was young.
 
Purchased our first home in So. Cal (near the beach) in the early 80's. The home was built right after World War ll. 800 square feet-paid $92,500. Doubled the size of it over 10 years- then moved out to the Inland Empire of So. Cal. Sold that moved to Utah. The first house (in today's market) at 1,800 sq feet is worth a million. The second house at 2,500 feet is worth 1.2 million. Both small lots-but it's So Cal.
If only I had kept them.....
 
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Things not moving in the Orlando area. Acquaintance had very nice home in desirable area. On market 180 days. Just took it off the market.
 
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