Shifting Buyer's Market
There are nearly 500,000 more homesellers than buyers right now (nationally).
6 of the top 10 buyer’s markets are in Florida 🌴
Redfin expects national home prices to drop 1% by the end of the year… but I think they are underestimating.
For Sellers, it will get worse before it gets better.
Watch the video below for tips on how to navigate the current market as a Buyer or Seller.
Housing v. Consumer
Often, we isolate the real estate market as its own entity, but it is closely tied to that of the general consumer.
With a record $1.21 trillion in credit card debt, 24% of Americans are shelving homebuying plans, and 32% are delaying other major purchases.
The Miami and West Palm Beach markets are experiencing the longest average days-on-market since 2020, yet we are still contending with bidding wars along coastal New Jersey.
Make it make sense.
In short, high cost-of-living areas are being hit the hardest as Americans shift focus toward value.
For strategic buyers, this could present a unique window of opportunity.
I am not saying that every seller will accept a low offer - but I am saying that the deals are out there, if you know where to look.
