Mortgage rates are set to fall this year and well into 2025, all while housing inventory steadily increases. We’re in the best housing inventory position since before the pandemic, so the question is: what happens next? Rising inventory could result in more homes on the market and, in theory, less competition, so lower prices. But, with rates coming down, home prices might go back up with more borrowers entering the market. We’ve got a lot of questions, but thankfully, Senior Economist at Realtor.com Ralph McLaughlin has the answers.
Ralph doesn’t just study the housing market; he actively participates in it as an investor. He’s on this BiggerNews episode to discuss the state of mortgage rates, when we should expect them to start falling, home price updates, housing inventory, and opportunities for investors that most homebuyers will miss.
We’ll discuss the real estate markets with the most and least housing inventory, why price cuts are rising, but home prices aren’t falling, the best markets for investors to take advantage of during the rate-to-price “delay,” and which homes are selling the fastest. If you want to get ahead of the curve and take advantage of hot markets with opportunities that (probably) won’t last, now is the time!
In This Episode We Cover
Mortgage rate predictions and when we could see 2024’s first rate cut
Housing inventory’s huge comeback and why prices aren’t falling
Real estate markets seeing the most/least amount of homes for sale
The rise in seller price cuts, but why this ISN’T leading to lower home prices
Hot markets with HUGE opportunities that investors must take advantage of before rates fall
And So Much More!
(00:00) Intro
(01:19) Lower Mortgage Rates On the Way
(06:21) Inventory Hits Recent High
(13:28) Markets with Most/Least Inventory
(15:53) Price Cuts Rise, But…
(17:33) Best Markets for Investors
(20:52) Which Homes Are Selling?
(23:04) Little Houses, Big Demand?
(26:25) What Investors MUST Know
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/real-estate-999
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