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What's going on with this market?

Posted by Connie Gohata on Thursday, July 26, 2018 Under: Real Estate Market
All indications point to a turning point - we may be turning faster than it was thought, toward a more buyer-friendly market. That means homes won't be selling as fast, and they will either stay at the prices they are now or even go down!  

If you want to sell - now is the time!!

Here's an article from Tim and Julie Harris, written by Tim Ventura to Agents who listen to their podcast:


Is the market going to crash? On yesterday’s show we cited data from CNBC, and in today’s show we’re discussing “The U.S. Housing Market Looks Headed for Its Worst Slowdown in Years” – published today on Bloomberg.

“A slew of figures released over the past three days gives ample evidence of at least a cooling. Existing-home sales dropped in June for a third straight month. Purchases of new homes are at their slowest pace in eight months.

Inventory, which plunged for years, has begun to grow again as buyers move to the sidelines, sapping the fuel for surging home values. Prices for existing homes climbed 6.4 percent in May, the smallest year-over-year gain since early 2017, and have gained the least over three months since 2012, according to the Federal Housing Finance Agency.”

Suddenly, Redfin’s Shoshana Godwin told the couple, sellers were getting jumpy, even here in the hottest of markets. Homes that should have vanished in days were sitting on the market for weeks. There was a three-bedroom fixer-upper just north of the city going for $550,000, down from more than $600,000. They made the leap in early June and had closed by the end of the month, for list price.

The U.S. housing market — particularly in cutthroat areas like Seattle, Silicon Valley and Austin, Texas — appears to be headed for the broadest slowdown in years. Buyers are getting squeezed by rising mortgage rates and by prices climbing about twice as fast as incomes, and there’s only so far they can stretch.

“This could be the very beginning of a turning point,” said Robert Shiller, a Nobel Prize-winning economist who is famed for warning of the dot-com and housing bubbles, in an interview. He stressed that he isn’t ready to make that call yet.

There you have it: more confirmation the market is changing – will YOU be ready?

In : Real Estate Market 


Tags: crash "home prices" "time to sell" 
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What's going on with this market?

Posted by Connie Gohata on Thursday, July 26, 2018 Under: Real Estate Market
All indications point to a turning point - we may be turning faster than it was thought, toward a more buyer-friendly market. That means homes won't be selling as fast, and they will either stay at the prices they are now or even go down!  

If you want to sell - now is the time!!

Here's an article from Tim and Julie Harris, written by Tim Ventura to Agents who listen to their podcast:


Is the market going to crash? On yesterday’s show we cited data from CNBC, and in today’s show we’re discussing “The U.S. Housing Market Looks Headed for Its Worst Slowdown in Years” – published today on Bloomberg.

“A slew of figures released over the past three days gives ample evidence of at least a cooling. Existing-home sales dropped in June for a third straight month. Purchases of new homes are at their slowest pace in eight months.

Inventory, which plunged for years, has begun to grow again as buyers move to the sidelines, sapping the fuel for surging home values. Prices for existing homes climbed 6.4 percent in May, the smallest year-over-year gain since early 2017, and have gained the least over three months since 2012, according to the Federal Housing Finance Agency.”

Suddenly, Redfin’s Shoshana Godwin told the couple, sellers were getting jumpy, even here in the hottest of markets. Homes that should have vanished in days were sitting on the market for weeks. There was a three-bedroom fixer-upper just north of the city going for $550,000, down from more than $600,000. They made the leap in early June and had closed by the end of the month, for list price.

The U.S. housing market — particularly in cutthroat areas like Seattle, Silicon Valley and Austin, Texas — appears to be headed for the broadest slowdown in years. Buyers are getting squeezed by rising mortgage rates and by prices climbing about twice as fast as incomes, and there’s only so far they can stretch.

“This could be the very beginning of a turning point,” said Robert Shiller, a Nobel Prize-winning economist who is famed for warning of the dot-com and housing bubbles, in an interview. He stressed that he isn’t ready to make that call yet.

There you have it: more confirmation the market is changing – will YOU be ready?

In : Real Estate Market 


Tags: crash "home prices" "time to sell" 
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About Me


Connie Gohata Realtor® and RE Investor Short Sale and REO Specialist Regular Sales, Distressed Sales CA/BRE #01822665 Phone: 714-553-9146

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