The Expert Podcast

Just when you thought the real estate boom was over it's not so redfin is one of the largest real estate technology companies in the country and they reported just the other day that the lowest number of listings in home supply in history so 16th consecutive month of double-digit price gains no signs of typical seasonal slowdown in price growth you know in september october there was a there was some news out there that maybe the jump was easing it wasn't it was only because there was fewer houses median price is up 15.
The bigger takeaway is i wish i had better news for home buyers but in many ways the housing market is more challenging than ever so even after the last year and a half or two years it's still more challenging well it is good news for home buyers as long as you can buy a home and there's ways you can do that you can look at some of our other videos on our website it may not be the home you want but you can get into a home and ride that wave up to the next biggest home that you want it says.
Next year inflation may spread and um there may be more listings in slower price growth i don't think so i don't think so i think the price gross is going to continue because of reasons we've talked about before all the markets have you know bridgeport connecticut baltimore maryland newark new jersey tacoma washington all the different markets all have price growth but the big takeaway is the seasonally adjusted number of homes for sale is an all-time low it actually is 18 less than it was last year and last year was already a tough market so the real estate market is proving that all of the predictions that it's going to slow down and there'll be more houses for sale may not be accurate.
Even a year ago people said you know by the end of 2021 there'll be a lot more price flexibility in the market uh there'll be a lot more homes for sale that the real estate market is still short homes in our next video we'll talk about construction trends where the general contractors don't have enough capacity to build houses even if they but full bore for the next five years they're still going to be short houses for the current inventory much less what is needed to be added for the next five years.
So this is a important piece of data from redfin a legitimate tech company for real estate um number of homes available all-time low and it supports the fact that this market is just beginning it may seem like it's jumped up in the last year year and a half this is just beginning this could go on for another decade at its current pace.