I can’t think of a catalyst for sales volume to improve next year. People aren’t buying houses because they are too expensive, not because they don’t want to. The cost of buying a house in 2025 is almost like carrying two 2019 mortgages. Who wants two mortgages and only one house?
Interest rates in the 5-6% will do nothing to get us to buy a home. Home prices have to come down 20-30% from where they are right now. Tired of seeing people wanting double what they paid 3-4 years ago. I see people trying to get more than what they paid 2 years ago. They’re just trying to get out before they’re under water buying an overpriced home. We’re cool waiting until realistic prices come back.
@@timolson-qi5hj I hear what you are saying but the asking price means nothing if people are not paying the prices. So far sellers are experiencing a decent success rate. There are sellers wanting too much but when they do it sits there.
Happy 70th! Only agents would say falling rent prices combined with increased inventory could lead to higher housing prices because of a strong labor market. 🤣
It's All About Rates. 50% don't care as they have 50% to 100% to put down. That is who has kept the market muddling along. The other 50% RATES and Prices Matter - Because they need to qualify. Either below 6% rates or houses coming down 10%-20% will be needed to see sales volume go back to long term averages. Should rates spend alot of time above 7% home prices will fall.
@@RickhelpsMy daughter just leased an apartment for $200 less a month than everyone else. Landlord had a no disclose clause. Rents are coming down finally which keeps people renters longer
As a potential 2025 buyer, my only issue is housing prices. If interest rates go down, it still will not help me get approved for a mortgage loan. Renting is the only option most of us have.
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I’m in Casa Grande, 55+ community. The listings have doubled in the last 30 days. Much longer DOM. Prices have dropped but buyers are holding.
I am showing in total that listings have dropped in Casa Grande. Are you seeing an increase just in the over 55 area?
I can’t think of a catalyst for sales volume to improve next year. People aren’t buying houses because they are too expensive, not because they don’t want to. The cost of buying a house in 2025 is almost like carrying two 2019 mortgages. Who wants two mortgages and only one house?
Interest rates in the 5-6% will do nothing to get us to buy a home. Home prices have to come down 20-30% from where they are right now. Tired of seeing people wanting double what they paid 3-4 years ago. I see people trying to get more than what they paid 2 years ago. They’re just trying to get out before they’re under water buying an overpriced home. We’re cool waiting until realistic prices come back.
@@timolson-qi5hj I hear what you are saying but the asking price means nothing if people are not paying the prices. So far sellers are experiencing a decent success rate. There are sellers wanting too much but when they do it sits there.
5.75-6.25 fluctuating mortgage rates for 2025 and it will be pretty good chance for buyers coming back slowly
Happy 70th! Only agents would say falling rent prices combined with increased inventory could lead to higher housing prices because of a strong labor market. 🤣
Do you agree with my prediction of a year-over-year decline in Q1?
@ nailed it!
It's All About Rates.
50% don't care as they have 50% to 100% to put down. That is who has kept the market muddling along.
The other 50% RATES and Prices Matter - Because they need to qualify.
Either below 6% rates or houses coming down 10%-20% will be needed to see sales volume go back to long term averages. Should rates spend alot of time above 7% home prices will fall.
@@RealLifeFinance Do you agree with my call for Q1 to not meet expectations?
@@RickhelpsDepends on whose expectations. Lol - Inventory will climb as we trended all year 30% YoY and we appear to be climbing to 40% by Jan/Feb
@@RickhelpsMy daughter just leased an apartment for $200 less a month than everyone else. Landlord had a no disclose clause. Rents are coming down finally which keeps people renters longer
Happy Birthday Rick! I love your shows….Jimmy G 😊
As a potential 2025 buyer, my only issue is housing prices. If interest rates go down, it still will not help me get approved for a mortgage loan. Renting is the only option most of us have.
Happy birthday!
@@ElhamD1968 Thank you!
Very good!
@@cooperscott3493 Thanks for watching!
Just remember that Trump is Time’s Man of the Year! Bet that makes Left Coasters pleased as punch! Burppp!
Haha