What to expect in the real estate market for the rest of the year
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- เผยแพร่เมื่อ 30 มิ.ย. 2024
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Altos Research is the premier resource for real-time real estate data. We provide weekly market statistics, analysis and reporting for 99% of the zip codes in the U.S., helping real estate professionals, investors, financial institutions, and their clients make better-informed decisions.
Featuring Mike Simonsen, President of Altos Research
A true data geek, Mike founded Altos Research in 2006 to bring data and insight on the U.S. housing market to those who need it most. Altos provides national and local real estate data to financial institutions, real estate professionals, and investors across the country, and the company is now part of HW Media, publisher of HousingWire and RealTrends. Mike uses Altos data to identify trends in the real estate market well before the headlines, and his work has been featured in the New York Times, The Atlantic, Fortune, Forbes and other publications.
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July 4 is a Thursday
Listed last week, 19% lower than the lowest priced house in the immediate neighborhood. I had one showing, they weren't interested. Will lower the asking.
Anecdotal examples are meaningless.
@@stevealtermatt8518 statistically more people are lowering their asking prices and inventory is rising faster than any summer since the great financial crisis.
What city?
@@stevealtermatt8518sure
@@stevealtermatt8518
Any data on the increase of luxury home sales compared to starter homes possibly skewing the median price higher?
Your data will be more helpful if viewed by the size of home. Buyers and sellers have different economic experiences and needs in today's market. I expect the median home price is changing appreciably differently for homes when viewed by number of BR's.
I just got an offer accepted in northern Texas. They listed at 830K initially, couldn't sell, I negotiated it down to 720K and they accepted..... The buyer bought the house for more than I am paying for it now, it is slow market now totally changed from my 2022 experience where I lost 10 bids even when bidding 10% over asking. Definitely can negotiate. But I believe entry starter homes have a lot of interest still, those that are more affordable to starters.
Audra Lambert sent me...subscribed!!
Really great analysis. 2026 seems like a very reasonable prediction. Localized markets may start a little sooner/later.
Thanks for the data Mike...you always provide GREAT DATA. However, you shouldn't have to change your point of view because "Data isn't trying to sell me anything." Me 1996
If you believe higher rates create more inventory, I suppose you do not have the belief in the 'golden handcuff' theory?
The golden handcuff can be true too, but a lot of people over-leveraged themselves not realizing that property taxes and insurance could increase so much when their budget was already stretched razor thin. Some people bought thinking that rates would drop already...surprise surprise. In other words the only thing keeping inventory from absolutely skyrocketing right now is the golden handcuffs.
I think it's time to make it more appealing for potential buyers. Real estate can be quite the rollercoaster! the stress and uncertainty are getting to me. I think I'll cut rents to attract potential buyers and exit the market, but i'm at crossroads if to allocate the entire $680k liquidity value to my stock portfolio?
"Overall, buyers hold a lot of the cards right now, and sellers are having to give out more concessions to close a deal." All the best, buying on sale is actually one of the best ways to invest in stocks, and advisors are ideally suited for such task
Until the Fed clamps down even further I think we're going to see hysteria due to rampant inflation. If you are in cross roads or need sincere advise on the best moves to take now with financial markets will be best you seek a fin-professional with fiduciary responsibilities who knows about mortgage-backed securities for proper guidance.
this sounds considerable! think you know any advisors i can get on the phone with? i'm in dire need of proper portfolio allocation
There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’ Melissa Terri Swayne” for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.
She appears to be well-educated and well-read. I ran a Google search on her name and came across her website; thank you for sharing.
2:11 would love to see this chart pre Biden. US has had 11 million (that we know of) illegal immigrants come across the border. So ~3mil/year with only avg 500k single family homes at any given time. Explains why housing is so unaffordable.
6:35 if that happens, mortgage rates will drop like a rock back to sub-5% by 2026. I got a 5.625%, so I cant wait to re-finance and get that lower rate when that happens!
sales will be Slow.. and buyers expect a reset from 2015 prices to 25% off that. 2025 will be EVEN WORSE for SELLERS.. BLOOD BATH PRICES.. not seen since 1990's
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Hearing it last week got me scared so I agree with you! Investing puts money to work. The only reason to save money is to invest it
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I have been seeing lots of testimonies about her. She must be very good for people to talk so well about her
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