75,000 “Relistings” Could Hit the Market, But Inventory WON’T Explode?
On The Market
Outlook: modest sales growth and affordability
Mike forecasts ~5% sales growth as affordability improves from lower rates and rising incomes.
Remember all those homes that were “delisted” in the fall and winter? The homes that sellers took off the market when they couldn’t get the price they wanted? Well, now, the frozen housing market is thawing, and 75,000 “relistings” could boomerang back into the market. With a new wave of inventory, would this be the catalyst for home prices to drop even more?
Compass’s Mike Simonsen, friend of the show and all-time inventory expert, is back to give a quite contrarian take on the relisting inventory about to hit the real estate market. With the spring homebuying season about to peak in just a couple of months, former sellers now get a new chance to put their properties up again, in hopes that lower mortgage rates entice buyers.
The crash predictors say that this new glut of inventory could cause prices to drop as the buyer’s market becomes even more one-sided. But Mike has a key piece of data that changes the story entirely, one that could be good for the future housing market and actually give transactions a modest boost.
Mike says a “new era” of real estate is upon us—and it could last a while.
In This Episode We Cover
The “relisting” wave of inventory that could hit the housing market this spring
Why home prices may not drop even with more properties on the market
A “new era” of real estate that makes it even better to buy a home
Why housing inventory is falling in states with the biggest home price corrections
No forced selling? The reality that kills the housing crash narrative
And So Much More!
Links from the Show
Join the Future of Real Estate Investing with Fundrise
Join us at the BiggerPockets Conference October 2-4 in Orlando. Buy tickets
Sign Up for the On the Market Newsletter
Find an Investor-Friendly Agent in Your Area
On The Market 378 - The “Delisting” Wave Putting Years of Housing Market Gains at Risk
Grab Dave’s Book, "Real Estate by the Numbers"
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/on-the-market-404 .
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