On The Market 51: Huge Concessions, Cheap Labor, and Where Sellers are Hurting Most w/Niyi Adewole and Ryan Blackstone
The housing market has shown homebuyers both fierce love and abuse throughout 2022. At the start of the year, offering anything other than twenty thousand above asking was seen as an insult to a seller. Now, the seller is offering you a foot massage on your way into their open house. But we’ve known about this for months. Rising rates paired with home prices that are still (arguably) too high have made homebuyers think twice about buying in the first place. But is this true in every real estate market?
We brought on two agents, both in very different markets, to get their take on whether or not the housing market has finally flipped. Niyi Adewole, Atlanta-based investor and real estate agent, spent the last couple of years helping himself and his clients build bigger portfolios. Ryan Blackstone, northwest Arkansas-based investor and realtor of our very own Henry Washington, has seen buyers start to bounce from his market, but not close to as fast as most would expect.
Both these expert agents share exactly what’s happening in their real estate market and how buyers, sellers, and investors should prepare if they want to make moves in the next year or two. While Niyi and Ryan have different clientele, they’re coming to the same conclusions about where the housing market is headed, with extremely useful advice no matter where you stand right now.
In This Episode We Cover
In-the-field advice from top agents in two hot housing markets
How buyers have taken control, and the concessions sellers are willing to make
Price drops, cheap labor, seller credits, and more good news for buyers
Whether or not buyers are dropping off as unaffordability spikes
Days on market, active inventory, and other important metrics to pay attention to
Buying in down markets and why now may be the best opportunity to strike
And So Much More!
Links from the Show
Find an Investor-Friendly Real Estate Agent
Join the Future of Real Estate Investing with Fundrise
Connect with Other Investors in the “On The Market” Forums
Subscribe to The “On The Market” YouTube Channel
Connect with Niyi and Ryan:
Check the full show notes here: https://www.biggerpockets.com/blog/on-the-market-51
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