Hopeful signs for the 2023 housing market?

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. The company now serves the largest Wall Street investment firms, banks, and tens of thousands of real estate professionals around the country. Mike's insights on the market have been featured in Forbes, New York Times, Bloomberg, Dallas Morning News, Seattle PI, and many other national media outlets.

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[MK-lrow]

I'll tell you why there Was an uptick in listing prices because you have sellers who are desperate to get the same prices that their neighbors got last year and have been waiting through the holidays and now just want to jump on the chance To sell their home for the obnoxious price their neighbor's got and to your point they probably do feel their property is better quality than what was remaining on the market from the fall It's their complete arrogance and inability to stop drinking from the cool laid and thinking this is still 2021 well they have a rude awakening. Buyers don't buy. Buyers: keep holding back from buying because that will force sellers to decrease their prices. if there is not anyone to buy their property they will capitulate and lower their prices. Hold the line keep demand down.

[travelandlaugh]

So what happens if rates go back down in the 4's?

[sethgowen]

Keep these vides up, this is very helpful along with my altos membership

[RyanLundquist]

Thanks Mike. I'm starting to see demand pick up for the spring, but we still need some time to understand it. I do expect some seasonality ahead in terms of listings and volume, but I also suspect diminished volume as we've been missing about 40% of buyers in Sacramento.

[travelandlaugh]

Low supply is here to stay for a very long time. Too many reasons keeping it low.

[aaravsamardh]

My portfolio increased from quarter a million to four million dollars in first two months of the year, thanks to a reputable broker who was recommended to me by large sharks in the stock market. if you want to diversify, do it now, you are never too old

[davidgoldsmith]

Or only the stuff which brokers oversold the listing had sellers pull the trigger.

[BB-qpxo]

Vendors meeting a crashing market. So more sales, lower prices. Brace for impact.

[PuNchEDBluEBaLLZ]

Thank you for the data and interpretations. Too many buyers looking at it from the buyer side hoping for a crash. And so many crash videos yet prices only came down in places like phoenix. Sellers don't have to lower price. They can just cancel the listing and keep the affordable payment at 4% rate. Or not list at all until rates are better. only desperate sellers lower price, maybe because of divorce or job relocation etc. Sellers that don't need to sell and just want to buy a bigger house won't buy, unless they get a decent price so they can use that equity to buy the bigger house (or until rates come down dramatically). Many builders got wiped out in 08/09. the ones that survived built far too little, over the last 14 years. As they never want to go through that again. The FED has already slowed the rate hikes. Feb probably be 0.25 and pause in March

[mandlesevday]

I’m with it, everybody just needs to hodl the real estate. They can’t mint new houses that easily…

[ericscott]

I’m gonna laugh when you loose everything due to the coming crash. It will wipe the greedy smirk off your face.

[BillGreenAZ]

Not as many sellers as before because of home owners having such cheap loans, as you say.
Some YouTube real estate channels talk about the "real estate market crash" of 2022, but we can see here with real data that home prices were still appreciably higher than previous years. I'm looking forward to home prices climbing significantly from here.
Thanks for the great info, Mike.