Realtor.com: Very Interesting Dynamics Happening Right NOW

[@jasontye3307]

Sellers are still listed at comical prices.

[@UrquidezFamily]

But everyone is a millionaire now. 3 bd 1400sqft? $1.5M.....lol

[@danidaydreaming919]

Amen

[@8675-__]

They call that "blue sky"

[@joemomma707]

I listed high and got above asking. Why wouldn’t I? Lol

[@jasontye3307]

@@joemomma707 you're part of the systemic issue.

[@KD-yk9wv]

Question: when you say how many days a home has been on the market before it sells, does that take in to account the people (for example) who list, remove the listing after 60 days, wait, relist, remove the listing after another 60 days, wait, then relist it sells in 30? Will it show that the house had been listed for 30 days or the true 150 days?

[@JasonWalter1]

Not sure if they are using cumulative DOM or just DOM. Good question though.

[@tlindsay1007]

That's a great question!

[@AJourneyOfYourSoul]

It depends on how long they remove the listing for. After a certain number of days it starts over, but it is a significant number of days. You can’t just remove your listing for a week. But this doesn’t really matter much because if someone is willing to wait, pull a listing etc….then the market isn’t going to go down. Plus, Zillow, Redfin etc…show the history, so buyers know exactly what is going on. The buyers know the listing was pulled and put back on after some time.

[@KD-yk9wv]

@@AJourneyOfYourSoul yes the buyers will know IF they care to look or ask but the statistics being used to tell the health of the housing market will show a much healthier outlook than reality. If stats for avg DOM is showing 30 but it's really 150, thats a big deal and something that sellers just coming on to the market should know when pricing their home

[@AJourneyOfYourSoul]

@@KD-yk9wv i can see that, but with respect to sellers, unless it is a distress sale, most sellers care more about what houses sell for than how long it takes. I think this is proven by how sellers have no problem pulling a listing and trying at a later time instead of just dropping the price.

[@agentcrypto7741]

San Diego inventory up 44% yoy. Say goodbye to any yoy “median price sales growth” 😂

[@stevenap4594]

Inventory is in breakout mode. It’s not going back down now, it’ll continue to increase even into the winter months.

[@MaddieBr]

I've seen a few properties that sold at high prices in 2021/22, now reselling at a loss. Not enough for a trend, and likely reflects bad judgement 2 years ago.

[@HappyandBlessed-wj7gc]

Really ? What's the address of one of them ?

[@natalya7356]

Yep I'm seeing the same thing

[@HappyandBlessed-wj7gc]

@natalya7356 Yeah sure you are. 🙄 Why don't you try giving an example since the other guy couldn't.

[@MaddieBr]

Example: house on acre in Sonoma County. Sold in 2019 for $735k. Listed 3/2021 for $899k, sold quickly for $1.05M. Listed 8/2024 for $1.05M, closed for $915k.

[@HappyandBlessed-wj7gc]

@MaddieBr You can provide the address. I'll wait.

[@misterringer]

I'm in TN, and despite the huge pop in inventory, prices are sticky. I think we have too much net inbound migration propping up the market. Slow sales at high prices will still hold comps as long as folks aren't distressed selling. I think without real distress we aren't going to see any significant price movement outside of seasonal norms but would love to be mistaken.

[@AJourneyOfYourSoul]

I agree. Distress sales are what moves the market down. TN is a very popular place to move to now, especially from more expensive locations.

[@ericmiller4593]

Even if TN has more inventory, prices are barely coming down after they more than doubled the last 3 years. Too many people are still flooding here, keeping locals completely priced out. We need a 40% correction

[@WW-io2fh]

today a car costs 100,000, a lot of money has been printed, people think houses will cost 250,000

[@ghostchanter333]

The key takeaways are great, appreciate you providing those.

[@natalya7356]

I see houses 30-40 year old that's never been listed before listed for sale now. I also see houses bought in 2022 listed at the same price but sitting. Let's see what 2025 bring us

[@weekendhero7411]

What's the "interesting" (new) part ?

[@jamesgaffney7591]

Well done Interesting point also, so many are thinking the election is going to make a difference and historically out of the last 10 elections the rate moved seven times in one direction three times another direction with no real impact to speak of. So, based on historical data of presidential elections, don’t expect any large swing up or down in the immediate.

[@8675-__]

I agree!

[@mattanderson6672]

Fantastic analysis Thank you Sir Brilliant discussion You do a wonderful of of shining a light on truth. Main stream media is officially over! Always appreciate you Jason, amazing work

[@JasonWalter1]

Thank you for all your support, Matt!

[@jamesgaffney7591]

Jason, is there a source of data that would support the percent of homes that sold with a seller concession? That would be an interesting data point to piggyback on the 40% of home sales selling less than list price

[@poonekar]

A sure shot way to tell a nerd is presenting is when their “summary” begins halfway through the presentation.

[@JasonWalter1]

😂

[@thekittyspy]

In parts of Bay Area the bidding is back on and prices are 10-15% over asking, when will it finally slow down who knows.

[@WW-io2fh]

those who don’t have money are waiting, but for me it will still be 50 or 100 thousand more or less, I’m 55 years old and I have one life that I need to live today and if I listen to all the advice until this bubble bursts, I’ll already die

[@joemomma707]

😂😂😂😂

[@anandjayaram2616]

We are back to similar inventory levels , one trend we are seeing is better school district homes ( where investors bought are seeing the increases)- would love to get your view on this

[@MVPTC]

Rates still need to fall to balance out affordability on a monthly basis

[@billricheter5678]

Rates going down is not good to bank on. Problem is houses are overpriced and too high relative to rentals and inherent vale in many area. That attitude is why homes are too expensive. You pay more you have more debt

[@MVPTC]

@billricheter5678 i agree my rent is 2k but buying the same house would be 3.5k per month... absolutely crazy to think about.

[@billricheter5678]

@@MVPTC it is crazy, renting is much smarter right now. People have this weird desire to own . In the past it has been generally wiser to own . Now I don’t think so until things revert to the norm.

[@MVPTC]

@billricheter5678 the 2k im saving I'm able to invest in stocks which has treated me well so far. I had paid off all my debt to buy a house when the market becomes more affordable so I have no monthly obligations. I just got a promotion to Manager as well so it's hard not to buy especially because I can afford it but I'd rather be able to stack cash than be locked into a mortgage that makes me poor on a monthly basis and alot of which is going to interest or insurance. It's still my dream to buy though...

[@profbell7931]

Thanks for the info Jay! I am waiting until the first of 2025 to purchase a home. The market in CA is still overpriced. I might consider another state.

[@8675-__]

Great information! Love the stats!

[@harrymiller1622]

Hold the line buyers…it will correct!

[@wadej769]

Spring 2025 will be the inflection point.

[@HappyandBlessed-wj7gc]

Is that where the goal posts are moved to now ?

[@8675-__]

Probably more likely to be July and August, because you'll get a better deal buying in those months than purchasing in June. My opinion due to past experiences

[@wadej769]

@@HappyandBlessed-wj7gc Spring of 2025 looks like the first time on a national level inventory will get back to pre-covid levels. This should continue to bring more balance back to the market with rates as well looking to stay in the 6% range. We are already seeing this in many markets today with prices at or below the 2022 peak.

[@HappyandBlessed-wj7gc]

@wadej769 So you think inventory will rise by 35% in the next 5-6 months? Good luck with that lol. Also - inventory was also historically below average "pre-pandemic" - and prices were rising then as well.

[@wadej769]

@@HappyandBlessed-wj7gc Inventory always rises much more in Spring due to seasonality

[@Steverz32]

Good morning Jason! #REALESTATEISLOCAL #LETSGETNERDY #SPREADSHEETKING

[@JasonWalter1]

Thank you for all your support!

[@lockup6104]

Mahalo Rise before the fall Great Vid🤙🏽🌴🍍🇺🇸🌺✌🏽💙

[@JasonWalter1]

Mahalo!

[@LockedUpLarry]

It’s not just TX and FL anymore! These talking points are akin to the rampant war and election explanations. The human factor is strongly at play here. Deals are happening with new inventory…. don’t miss out. The LLC homes have competition.

[@samazonprime3057]

Agree. If you’re in the market to buy you’re much better off buying new. Builders in most states are having to compete for your business again.

[@preetigupta3626]

What is your prediction for 2025

[@8675-__]

Rates will drop in August 2025

[@nonexistent5030]

Tide rolls out late next year. God has this been such an exhausting ride.

[@rafaelmariscal9170]

Hi Jason, curious to know why the seller to your buyer ended up having to pay off the solar on the house for the buyer? Was the payment on the solar system an issue with financing? Solar companies sell the system as if it's a good thing for energy savings and make the home more appealing.

[@SigFigNewton]

I assume it’s because the buyer had options and wouldn’t accept anything near asking price. And since priority número uno for the agents is always to keep sales prices propped up, the deal they came up with was 50k worth if “incentives” rather than taking 50k off of the sale price. Helps make it more likely that the next buyer accepts a bad deal.

[@JasonWalter1]

We asked for it to be paid off in the offer unrelated to financing.

[@rafaelmariscal9170]

@JasonWalter1 that's interesting, as a buyer I would have opted for a discount on the house and kept making payments on the solar, especially if it was a ppa or lease that way the solar company is forced to maintain the system operational for the full 25 years. They also overcharge for the solar systems.

[@tlindsay1007]

@@rafaelmariscal9170 That's helpful to know.

[@sunoveristambul]

txs

[@ympfilms8872]

Dont buy a house, its a waste of time at this moment. It will never reach to the current price down the line in next 10 years. It will keep reducing the prices from here after.

[@eviscerus1322]

Yes, but what if you’re planning on staying in the same area indefinitely? Definitely agree that nobody should buy a home unless they reasonably believe they’re staying put for a while.

[@ympfilms8872]

@@eviscerus1322 How does it matters even if you stay in the same area? its always product vs money..! Its like people feel like living in desert area and buying a water for hyper inflated price..! crazy :-)

[@eviscerus1322]

@@ympfilms8872 It matters because even if the market dips like crazy like it did in 2008, history says it’s going to go back up. So if I buy a house now and the market dips over the next five years, I might be in trouble if I decide to try to sell 3 years from now. But if I buy a house that I live in for 20 years, and later it’s worth double what I bought it for, because prices always trend upward overall, then I’m doing pretty well for myself.

[@JasonWalter1]

That’s never happened so don’t hold your breath everyone.

[@HappyandBlessed-wj7gc]

Terrible advice. Keep renting.

[@Steverz32]

1😊

[@JasonWalter1]

Good afternoon! I’m late. Hope you’re having a great day.

[@Steverz32]

@@JasonWalter1 put your outside stuff up, it’s going to be real windy for the next 2 days!💨🍃🌬️

[@waltersobchak7759]

First

[@JasonWalter1]

Good afternoon! I’m late

[@PelicanIslandLabs]

Thanks for the new vid! Good luck beating that 'cold'. The feeding frenzy is long gone along the Central Cali coast near San Luis Obispo. Prices very sloooooowly dropping............ especially for the houses above $2M. Anything close to $1M still goes VERY fast.

[@JasonWalter1]

Thank you! It’s a lingering one :/