One Rental At A Time Home Prices to SPIME 10% Barbara Corcoran
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Dec 1, 2024 Interest rates dropping to 6% could spark increased housing demand and a rise in home prices, though supply issues persist. Following recent elections, home tours and pending sales are up by 12% year-on-year, raising questions about sustainability. The podcast also dives into upcoming economic reports on job openings and consumer spending while discussing the evolving landscape of conforming loan limits and geopolitical tensions with BRIC nations.
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Home Price Predictions
- Barbara Corcoran believes a 1% drop in interest rates could boost median home prices by 8-10%.
- The host disagrees, citing the need for market healing and addressing supply constraints.
Buyer Demand and Supply
- Many buyers are waiting for interest rates to fall before entering the market.
- Lower rates would increase demand, but supply remains a key constraint.
Post-Election Market Trends
- Post-election surveys suggest increased optimism among small business owners, particularly Republicans.
- Home tours and pending sales have seen a recent surge, potentially due to delayed demand or a shift in consumer sentiment.