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re: Homebuyer demand has plummeted to the lowest level in 30 years.
Posted on 1/14/25 at 5:04 pm to stout
Posted on 1/14/25 at 5:04 pm to stout
How much supply is out there? My understanding was that the supply is low. and the demand is obviously low according to your graph. If that is the case, then sellers will be the ones that have to blink right?
2
Posted on 1/14/25 at 5:04 pm to madmaxvol
quote:Spot on. I had a fair number of sales from people moving into the state.
That's 80% in the SEC footprint. So, as bad as things may get where we are...other parts of the country are probably taking a much bigger hit as demand drops in their region.
Posted on 1/14/25 at 5:06 pm to stout
quote:
or buyers have to accept the higher interest rates and start buying again.
For me personally, not a chance. We want and could use a bigger house, but as someone locked into 4% in a GREAT neighborhood I refuse to set a pile of money on fire and damn near double my rate. In the past year I've seen about 6 houses go up for sale and ZERO sold.
Posted on 1/14/25 at 5:10 pm to Bass Tiger
quote:I'd take the under on that. Regardless, for such a person, there is nothing preventing them from becoming a landlord to renters on the property if the market suits that option.
I wonder how many homes are currently owned by immigrants who could be subject to deportation?
Posted on 1/14/25 at 5:10 pm to PaperTiger
His premise is flawed because he’s looking at a small time frame in the slowest time frame of the year for real estate sales.
Days on the market for homes in the average sale price range will give you a better idea how the market is moving.
Days on the market for homes in the average sale price range will give you a better idea how the market is moving.
Posted on 1/14/25 at 9:07 pm to stout
Demand dropped cause people can't afford it, duh.
Posted on 1/14/25 at 9:10 pm to Craig86
quote:
Demand dropped cause people can't afford it, duh.
Could be.
Or they just don't want to...see the guy above who could be isn't willing to.
Either way, it will be a good thing if it persists because prices will fall (and probably new homes will start to be smaller on average as well).
Posted on 1/14/25 at 9:52 pm to wackatimesthree
We are sitting in a 2.75% interest rate and the house will be paid off in 10 years (no way I'm hustling to pay that note off early), there is no way we are moving even though we could afford it and I wouldn't mind a bigger, nicer house.
I look at my parents house and their prior house that I grew up in. Judging by homes, comparing that house to my current house, if you asked "are you better off than your parents?" the answer would be a definite NO. In every other aspect though, we're probably even.
I look at my parents house and their prior house that I grew up in. Judging by homes, comparing that house to my current house, if you asked "are you better off than your parents?" the answer would be a definite NO. In every other aspect though, we're probably even.
Posted on 1/14/25 at 9:53 pm to PaperTiger
quote:
How much supply is out there? My understanding was that the supply is low.
My wife and I are looking at moving and receive updates about listings in the geographic regions we set up within his app. It’s been slow moving on new homes being added. Not calling it quits yet but it’s frustrating. For reference essentially looking between alabaster and south of 459, sans city of Pelham and if Hoover then zoned for Spain park.
Posted on 1/14/25 at 10:05 pm to stout
quote:
I only care about the data and he is just one source of data I monitor.
What do your other data sources say?
Posted on 1/14/25 at 10:10 pm to SDVTiger
quote:
Predictions are 2.5tril in 25 especially when rates drop
You're trying to bait me into slapping you around for another few weeks, aren't you?
Posted on 1/14/25 at 10:11 pm to LSUminati
quote:
Have to incentivize home builders somehow. I live in the Houston loop, and anecdotally, it seems the only new construction are 4000 Sq ft. monstrosities that are priced from $1.6 million to $2 million depending on location. It seems blatantly obvious that the economics for builders don't kick in until you get those square footage numbers, so that's all that's being built despite robust demand for ~2500-3000 sq. ft. homes. We also need to pass tax reform asap in order to shift demand away from treasuries which in turn should make mortgage bonds more attractive and give people relief
How expensive and hard to get are residential building permits there these days?
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