Housing Market SHIFTS in Favor of Buyers

It looks like the housing market could be making a pivot towards buyers. Let's dive into the latest news about the shift happening in the US housing market.

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Jacqueline "Jackie" Baker
NJ License 1541448
Coldwell Banker Realty
Allendale/Saddle River

#realestate #jackiebakerrealtor #jackiebakersellsnj #homebuyingtips #homesellingtips #realestateinvesting

[emilo]

In my book, if the price is reduced by $5, 000 but the house doubled in price over the last 4 years. It's still over valued.

[Imbatmn]

My mom doesn't even want to get a new car if the wrong person gets elected into office.

[ahealthyyouwithdoctornew]

I’m following a builder that has decreased completed construction homes between $50k - $79k (between June and July)! I can see a reduction by $100K by August. The completed homes aren’t selling and they just started building out the last phase.

[Neiri-qgwk]

I live in upstate New York and I’m still glad I bought my house in March. People with deeper pockets than me will be competing for homes now that prices have dropped. I’ll still end up paying less for my house than a lot of people because I make extra payments; my 30 yr mortgage will be about 11 years with $200K of interest saved.

[wxieqdsiwevbks]

It WILL crash cuz no one could afford it except the 1%!

[LindseyHarvell-vcez]

We got $35k off our new build with included appliances (fridge washer dryer) and free bees like blinds throughout. They’re really trying to get these things sold.

[backabeyond]

I feel like “buyer friendly” still means for people better off than you and the general population. I’m in GA, screwed up most of my adult life, but have stabilized. I’m 46 and have finally got to a point where buying a home seemed possible, but all I see are $350k used manufactured homes, or run down old homes. Anything I buy is going to be about 3 times my yearly salary and no matter what, it just doesn’t seem like a good time is anywhere near the horizon. I mean $350-400k, plus 8% interest, and then god only knows what In the hidden costs that come with owning a home. Between me and my wife, we make about $120k. Hope isn’t something I see, though you’re telling me it’s there. Only hope I have is that you’re right.

[alyross]

I don’t know if come Jan, buying will be gangbusters. Maybe for higher end homes. I just think the last two years or so and the coming months will take a lot of regular American buyers off the table. Savings will be gone, credit dinged, jobs lost. How can that person buy a lawnmower, let alone a home?

[Latterisgreater]

Still not cost worthy for first time buyers on a regular income . A home is a basic need for everyone its the greed of the few that makes it hard for most. I will wait until the greedy folks are out of office.

[rudyubaldo]

WHY WOULD ANYBODY BUY WHEN MOST AREAS ARE DROPPING PRICES LIKE CRAZY!! THE BIGGER THE HOME, THE BIGGER THE DISCOUNT!! THE NEXT 84 MONTHS ARE GONNA BE SUPER UGLY. BUCKLE UP, EVERYONE! THE CRASH HAS BEGUN! READ THE WRITING ON THE WALL. INFLATION AND DOLLAR DEVALUATION MEANS BAD THINGS AHEAD!!

[cheverev]

"Why would I pay for a resell?" No

[stevenap]

Denver’s housing inventory is the highest it’s been since 2013.

[phxclosureman]

*there's the Monday night music - and the **0:23** OH MY GOSH!!!* ❤❤❤❤❤❤

[qhgzzph]

Sometimes you just have to sell. I love my house, divorce. *sigh* I've been trying to sell for 9 months and i've been steadily dropping the price the entire time. This is just not fun.

[daninthedirt]

We made an offer on another House 🏡 on 2 acres unfortunately no shop/garage rural 2 acres 2 bedrooms 125k + 5k for closing costs 130k total needs a few things like gutters but in excellent condition has a stone fireplace & a wet bar with mini fridge in living room

[MallorieOfTheDead]

6.875% in Wisconsin. We’re looking to buy our first home. We got an accepted offer. Sold for 75k in 2017. Now selling for 250k.

[ahamlet]

It is crashing. Real Estate moves slowly. Crashes happen slowly. Crashes are not declared until after the fact. Home prices are declining and will continue to decline because home prices are unaffordable. It doesn't matter if the Fed cuts rates. The Fed rate cuts do not have a direct impact on mortgage rates. Mortgage rates track the ten-year treasury. It would take a substantial decrease in mortgage rates to make homes affordable at the current prices. That kind of decrease is not likely to happen unless there is economic turmoil. If that happens people will still not rush out to buy homes at these prices because they will be worried about their finances.

Housing inventory is increasing headed into the fall/winter buying market. It is substantially cheaper to rent than to purchase. Homeowners insurance and property taxes are increasing. There is a ton of multifamily housing coming onto the market. New home builder's inventory is increasing. Even DR Horto'ns rate buy down is not working to move inventory.

[ernestrosenkranz]

I would like to see the one you did on home owners insurance being canceled ? If you don't put on a new roof, I tried to watch if once but it wasn't ready now I can't find it.

[julieritchie]

Oh it matters who is in the White House or people wouldn’t be holding off it affects a lot of things, Forth Worth was so cool to visit watching Cowboys on their horses going to the StockYards

[karenvanorden]

Cape May county has a rising inventory