BiggerPockets Real Estate Podcast

The Housing Market is Changing (Deals Are Coming in Winter)

9 snips
Oct 30, 2024
The housing market is showing signs of change, with potentially discounted real estate deals expected this winter. Despite a steep decline in home sales, prices remain high due to affordability issues and reluctant homeowners. The podcast explores predictions for mortgage rates and the potential for price drops. It emphasizes the need for patience among investors as they navigate a market impacted by high prices and low demand. Additionally, key insights into rent trends reveal contrasting opportunities worth considering.
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INSIGHT

Home Price Growth

  • The national median home price is at an all-time high of $429,000, up 4% year over year.
  • This 4% growth is above average and exceeds the rate of inflation, which is good for investors.
INSIGHT

Cooling Market, Regional Variances

  • Home price growth is slowing down; this spring, it was around 6%, now it’s 4%.
  • Some markets like Florida and Texas are seeing slight declines, while others like Connecticut are experiencing significant growth.
ADVICE

Patience for Deals

  • Be patient, as the market is cooling and opportunities for negotiation may arise.
  • Look for deals below listing price as the market slows down.
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