The Expert Podcast

• Neither buyers nor sellers will be happy with current market conditions
• Buyers waiting for price drops won't see relief - experts predict prices won't fall
• Sellers face reduced ability to sell homes in this challenging market
• Real estate professionals experiencing dramatic business decline over next 24-36 months

• Buyers are officially spooked by rising interest rates, not home prices
• Home prices increased dramatically over past two years without deterring buyers
• Properties selling 40-60% higher than previous year still received multiple offers
• Interest rates psychologically impact buyers more than selling prices
• Mortgage payments, not home values, are the real concern

• Current inventory shortage will continue to worsen
• Some sellers entering market due to fear of declining home values
• Normal move-up sellers are locked in with low mortgage rates (2-3%)
• Moving to new home means accepting rates near 6% - many choose to stay put
• Can't transfer existing low mortgage rates to new properties

• Buyers pushing off purchase plans by 6-12 months
• Homes sitting on market longer than before
• Price reductions happening from inflated values, not 2019-2020 baseline
• Current asking prices still much higher than a year ago
• Perfect storm of decreasing supply and decreasing demand

• Volume of sales will drop dramatically, but prices remain elevated
• 14 out of 15 buyers from previous bidding wars still seeking homes
• Available inventory will be absorbed, just at slower pace
• Decent homes will eventually sell - no need to discount to pre-pandemic prices
• Market will shift from 2-week inventory to traditional 40-60 day inventory

• Mortgage brokers seeing business drop to near zero
• Realtors experiencing reduced sales volume and commissions
• Transaction volume down 30-40%, expected to reach 50% by year end
• Won't crash like 2008 - will stabilize at reduced but sustainable level

• Price levels are "ratcheted in" and won't retreat significantly
• Supply and demand will eventually balance out
• Buyers and sellers will meet in the middle over time
• Market correction through volume reduction, not price crashes