The housing market is about to shift in a bad way for buyers
www.cnbc.com/amp/2019/07/09/the-housing-market-is-about-to-shift-in-a-bad-way-for-buyers.html The housing shortage that fueled competition and resulted in sky-high price gains throughout 2017 and the first half of 2018 is on the horizon yet again. Supply is soon expected to drop and potentially hit a new low, according to realtor.com, after increasing in the second half of last year. The number of for-sale listings was up 2.8% annually in June, but that was down from May's 2.9% gain. Inventory gains began to slow this year from 6.4% growth in January to 5.8% in February. Gains continued to slow throughout the spring and supply is now expected to flatten over the next three months and could hit its first decline in October of this year, according to realtor.com
Realtor
So, OP, how long has your listing been in the market? I’m looking at it and nobody is buying houses that would be fairly priced 1 year ago. Now prices don’t match, and I just see price cuts everywhere (I’m talking about Cupertino/Campbell btw). I don’t see how inventory is going down if people are not buying... that’s real state 101
This^^
Sellers and real estate agent s are super scared now. Some such people are the same ones who promote such articles
"What ifs"are still not good enough to make an investment.
real estate bubble 2.0 will blow as it always does. all of tgis crap is enabled by fed funny money. we have seen this before in 2008
2008 had nothing to do with the fed’s funny money. It was fueled by greed and subprime corruption.
which were enabled by greenspan put after dotcom crash. its always the fed and its probably intentional. the fed has been blowing bubbles since 1987 but if you dig further since 1913
OP, always take statements by companies like realtor.com with a grain of salt. Inventory for sure is not down. Have you seen the amount of new construction in the east bay, especially near the Bart stations? Driver around Fremont/Union city/Hayward and you will know what I’m talking about. A house is on the market for much longer now, and the bidding wars have ended. These are just some micro factors leading to a macro factor, the bubble is gonna burst soon. It won’t be like the 2008 housing crisis, but prices will be back to sane levels.
Hope it comes down :) yup east bay more construction . Even Milpitas
Article discusses national trends. Folks immediately localize it to Bay Area. Don’t be so provincial. There’s 327m compatriots living outside SF.
Imo, buying RE in the Bay Area as an investment in 2019 is stupid.
Lol. What year did your magic 8 ball suggest instead?
I just feel that it currently is an overpriced market. 2010-2014 is what my magic 8 ball tells me to buy.;) What do you think?