Things Are Weird in The Housing Market

So what is going on? 

Well, a lot of investors expected housing prices to fall in 2023 due to recession, high interest rates, and other factors. 

- BUT - 

It hasn't happened.

In fact, among the 29 major housing forecast models, 24 forecasted a national home price decline for 2023. In other words, 82% of real estate housing forecasting models missed their guidance. 

How can this be? 

The reality is even with more education, more knowledge, more data, and more AI, no one can with certainty time the housing market, and I got news for you, you CAN'T EITHER. 

We've experienced housing prices start to rise since January in the 3 states we have primary investment. I'm sure there are some markets that have seen depressed prices, but from our vantage point, housing prices are up just about everywhere, and so are payment standards. 

In fact, we just lost a bid for an all cash offer in Maine. The asking price was $175,000 and we bid $205,000 and we lost to a bid of $225,000. $50k OVER ask. So if you thought January was a bad time, guess what, it's more challenging today, and it's likely to be more challenging tomorrow. 

This is why waiting to time the market doesn't make sense. Go buy that house now, and get ready to reap the rewards because we're very confident, that payment standards are going up next year, AGAIN!

Read the news, do a Google search, and you will see that funding for section 8 vouchers is going to increase. Housing affordability is and will continue to be a crisis. It doesn't have an end date in sight. So while 1st time homebuyers might be wanting a nicer place thanks to a tight labor market and many jobs available, there are still many homes for sale that will meet the 1% rule based on Public Housing Payment Standards. 

Those are the properties to jump at. Use the S8S Analyzer. Go find those properties. They are everywhere, and as always, Movers Move. 

If you think you've got the market timed and dialed in, awesome. I'll let you bask in that glory. Meanwhile, I'm going to try to get that cashflow today.

https://finance.yahoo.com/news/things-getting-really-weird-housing-072414287.html