I Witnessed the Housing Market FLIP Overnight

Ricky Carruth!

This is great national info. Everyone make sure you know your local market. Phoenix/Scottsdale had one of the worst Augusts ever but began to turn it around in September... from Sept thru Nov we have had the best months' performance for those months since 2021... still a long way to go to catch up to the 10-year average but we are at least progressing! Thanks, Ricky!

Always great info Ricky

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I appreciate that you are trying to report and interpret the data as objectively as possible. I too believe that on a national scale the market is just correcting itself back to pre-pandemic levels. You don't have to be Nostradamus to see that the housing market was heavily influenced by a world event (Covid). I work out of Florida as a loan officer, but it's great to see your graphs for the national market. Just a note, when builders offer incentives, the market becomes more competitive for resale homes, so I predict that prices will continue to drop in the resale sector where new construction is competitively priced. This is a good thing since rates probably won't drop below 6% in 2025. Unless there is another world event to shake things up, higher inventory and lower prices will help shake up the market in the more sluggish areas.

i see houses sitting on the market now

You can’t put condos and houses in the same chart

I’m in Ohio and the housing market here over the last 7-8 years is unlike anything I’ve ever seen. Homes that were bought for $130K in 2015 are now being sold for $590k. I’m talking about tiny, disgusting, poorly built 950 square foot shit boxes in quiet mediocre neighborhoods. Then you’ve got Better, average sized homes in nicer neighborhoods that were $300K+ 10 years ago selling for $750k+ now. Wild times.

I wish I had found this channel sooner—so many great tips for first-time buyers