STILL No Housing Crash In Site, Why Are So Many People Predicting One?

Mortgage rates reversed AGAIN, wiping out the gains of the last 3 weeks, and approached the highs from early April, only to fall short and close just below 5.5%.

Meanwhile, the real estate industry is yelling louder and louder that a housing bubble is imminent.

It may be true, we are headed for a recession, and we may have technically already experienced it. It may be true the stock market has much more corrections to go. But every time things seem to fall apart, the housing rates offer investors a safe haven to invest, preventing a collapse.

As I have said for weeks, you cannot have a housing crash without a lot of sellers FORCED to sell at declining prices. And today, we have the opposite, some homeowners deciding not to sell because they already have 3% or below rates and choosing to stay put, further limiting housing inventory. This may reduce sales, but it will not reduce sales prices.

Look at the inventory nationally, still at a record low and declining again last week. Inventory is down 16.7% from last year and down 44.8% from 2020.

Locally, inventory has cycled up but remains below levels of last year, and well below levels of the pre-pandemic market.

A great indicator of buyer demand is the price per square foot for homes sold, rising to $614 on average in our MLS, continuing the 5-year increase from $350 in 2017.

Well, I would not cry over it. I say this in response to a recent Zillow survey that over half of Americans cry once while buying a home. I know it can be emotional, but, really?

There may be plenty of bad news in the economy, and it seems many industries and companies are being put under incredible pressure. That does not, however, appear to be causing a major disruption in the housing market, but rather perhaps a slowing of the pace of increase.--

#probateattorney #probatesales #probaterealestate

I host two FREE Real Estate Zoom calls every week:

Real Estate Flipping / Investing Focused:
Tuesday 3PM Pacific Time
Link: https://www.eventbrite.com/e/so-cal-real-estate-investment-meetup-tickets-80900334077
Topic: So Cal Real Estate Investing Meetup
This group is for Landlords, Fix and Flip, Traditional and Non-traditional Real Estate Investing, as well as all Real Estate Service Providers (Agents, Title, Contractors, and more.),

Probate Focused:
Thursday 4PM Pacific Time
Link: https://www.eventbrite.com/e/how-to-get-your-first-sale-in-probate-real-estate-tickets-67396261031
Topic: How to Get a Sale NOW in Probate Real Estate

There are lots of programs that promise to help you sell a LOT of homes, but how do you get your 1st sale? As the baby boomer ages, the number of homes being passed on to heirs continues to increase. I'll share with you 11 different ways that I have generated a listing or buyer sale that do not cost you any money.