The housing market isn’t as cohesive as you’d think. In some areas of the US, home prices are still rising, with buyers ready to bid well over asking price. In other markets, many so-called “boomtowns” of just a year or so ago are seeing bleak buyer performance as home prices fall off a cliff and buyers refuse to bid on such radioactive real estate. We’re in a real estate market of winners and losers, but which areas are which?
Dave Meyer, VP of Data and Analytics at BiggerPockets, took a comprehensive look at nearly three hundred housing markets to see which were rising, which were falling, and why the difference between the two is so intense. As mortgage rates rise, a lack of inventory holds buyers hostage. Without homes on the market, strong demand is still fighting over low supply. But some areas of the US have better buying opportunities than others.
If you want to invest in real estate or purchase your first primary residence, heed Dave’s warning. DON’T catch a falling knife in this economy. Know your market well, project where it’s headed, and buy DEEP whenever possible. More on that in this video!
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Watch Dave on the “On The Market” YouTube Channel: An Analysis Of 295 Housing Markets Told Me About The National
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Check Out Last Week’s Episode on Real Estate vs. Stocks:
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Q2 Housing Market Update: Homebuying is About to HEAT
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00:00 The Q2 Housing Market Update
01:44 Where Are All the Houses?
05:12 Sellers Stay Put
06:55 Cities Seeing Massive Days on Market
09:23 Home Prices Grow Slowly
11:50 Bidding Wars Are Back
13:19 Should You Offer Under Asking?
Recommended Reading >> bit.ly/32kRpzw
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