Another housing market “frenzy” is much more likely than many of us thought. With the traditionally slow fall/winter season upon us and housing inventory gradually inching up, home buyers could get a much-deserved break. But this won’t last for long. The long-term outlook on the housing market isn’t looking good for buyers, and many Americans will be forced to rent as a result.
So, what could cause the next home buying “frenzy”? We’ve got Clayton Collins, HousingWire CEO, on the show to give his take. HousingWire has been acquiring data and research companies as fast as possible, trying to build the most perfect picture of the housing market available. And right now, it looks great for sellers but not buyers.
With inventory still in the gutter and mortgage rates at a twenty-year high, homeowners will only consider selling once rates have dropped. But won’t lower rates flood the market with eager home buyers all over again? We’ll get Clayton’s opinion on what could fix the inventory shortage, when mortgage rates could drop, real estate markets with the best chances of price cuts, and what to watch out for in 2024.
In This Episode We Cover:
America’s underbuilding problem and how this could create an inventory shortage that lasts decades
Whether or not rising housing inventory is a sign of a coming crash
The real estate markets most likely to see price cuts in the coming months/years
What has caused mortgage rates to stay so high for so long (and what will happen when they fall)
The housing market “frenzy” that could restart once THIS happens
Multifamily mayhem and big problems in today’s rental market
And So Much More!
Links from the Show
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Dave's BiggerPockets Profile
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Hear Our Interview with Altos Research’s Mike Simonsen
HousingWire’s Logan Mohtashami on What Will Cause Mortgage Rates to Finally Fall
HousingWire: Home prices are likely to fall in these markets
Tune into “Housing News” with Clayton
Get Up-to-Date Real Estate Insights from HousingWire
Connect with Clayton:
Clayton's Twitter
Clayton's Email
Clayton's LinkedIn
Click here to listen to the full episode: https://www.biggerpockets.com/blog/on-the-market-153
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