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Started By
Message
Who blinks first...home buyers or home sellers?
Posted on 2/13/25 at 10:23 am
Posted on 2/13/25 at 10:23 am
Latest WSJ article headline...."As Buyers Fail to Show Up, More Homes Are Being Pulled From Sale"
LINK
"An uptick in December delistings is the latest sign of dysfunction in America’s housing market.
Delistings tend to spike in winter when fewer people are actively looking for a home. But the trend last December was unusually strong, representing almost one in 10 properties on the market, and a 64% increase from the same month of 2023.
Still, despite more properties being available, buyers were thin on the ground. Home sales in 2024 were at their lowest level in nearly 30 years.
Home values have held up despite this weak demand, at least so far. Homeowners don’t like to sell for less than their neighbors received and aren’t ready to adjust their expectations yet. Delistings are probably acting as a safety valve, allowing sellers to delay rather than accept a lower offer. "
LINK
"An uptick in December delistings is the latest sign of dysfunction in America’s housing market.
Delistings tend to spike in winter when fewer people are actively looking for a home. But the trend last December was unusually strong, representing almost one in 10 properties on the market, and a 64% increase from the same month of 2023.
Still, despite more properties being available, buyers were thin on the ground. Home sales in 2024 were at their lowest level in nearly 30 years.
Home values have held up despite this weak demand, at least so far. Homeowners don’t like to sell for less than their neighbors received and aren’t ready to adjust their expectations yet. Delistings are probably acting as a safety valve, allowing sellers to delay rather than accept a lower offer. "
17
Posted on 2/13/25 at 10:31 am to sidewalkside
still just to many people In “trap houses” as my friends call them
trapped/golden handcuffed to low interest rates that even if you want to move it just financially doesn’t make sense to. the gap between the locked in low interest rate and the amount other homes would have to decrease just to make an even swap is too wide
less buyers and less houses on the market…stalemate and the people fricked are the ones who have to sell or move
ETA: the trap house is just a stupid inside joke and what we’re all referring to our homes as
trapped/golden handcuffed to low interest rates that even if you want to move it just financially doesn’t make sense to. the gap between the locked in low interest rate and the amount other homes would have to decrease just to make an even swap is too wide
less buyers and less houses on the market…stalemate and the people fricked are the ones who have to sell or move
ETA: the trap house is just a stupid inside joke and what we’re all referring to our homes as
This post was edited on 2/13/25 at 12:32 pm
Posted on 2/13/25 at 10:35 am to Eighteen
quote:Yep.
trapped/golden handcuffed to low interest rates
For me to upgrade homes my monthly note would skyrocket
Posted on 2/13/25 at 10:35 am to Eighteen
quote:
trapped/golden handcuffed to low interest rates that even if you want to move it just financially doesn’t make sense to
This is me. I’d love to move & have some wants in a house that mine doesn’t/can’t provide. There’s no “needs” though. I’m sitting on a 1.89% interest rate and only have 10 years until it’s paid for. I have a lot of equity that would cushion the monthly mortgage payment….but it’s still a stupid idea. 80% of my current payment goes to principal. It would be 40% on a new 30 @6%
ETA: Refi’d at the beginning of ‘21 for 15 years @1.89. So 11 years left
This post was edited on 2/13/25 at 10:53 am
Posted on 2/13/25 at 10:36 am to Eighteen
quote:
the people fricked are the ones who have to sell or move
or refinance due to divorce property settlement.
Posted on 2/13/25 at 10:36 am to Eighteen
quote:
still just to many people In “trap houses” as my friends call them
He's wildly misusing the term "trap house" and will sound like a fool using this in public.
Posted on 2/13/25 at 10:36 am to sidewalkside
You got to know when to hold, and know when to fold, know when to walk away and know when to run.
Posted on 2/13/25 at 10:38 am to Eighteen
This is me! I've ran the numbers before but I would have to purchase a house that cost around 60% or so of the house I bought in 2021 to keep a similar payment.
I would have to give up my pool, 1200 ft shop, and a little over 1000 square ft to get a house in that price range......and have the same payment - no way I'm doing that.
I would have to give up my pool, 1200 ft shop, and a little over 1000 square ft to get a house in that price range......and have the same payment - no way I'm doing that.
Posted on 2/13/25 at 10:41 am to sidewalkside
So people are getting frustrated that their 1300 sq ft house won’t sell for 350k?
Well i wonder why?
Well i wonder why?
Posted on 2/13/25 at 10:41 am to sidewalkside
The market is the market and people should get what they can, but Sellers have been generally greedy taking windfalls from covidflation and ballooning of asset values.
This post was edited on 2/13/25 at 10:41 am
Posted on 2/13/25 at 10:41 am to sidewalkside
We live in a beautiful neighborhood and houses sell in a week, usually.
Still, there's a new construction that's been on the market for almost a year.
It's a poorly designed house, on a terrible lot.
I would imagine a lot of these delistings are similar.
Still, there's a new construction that's been on the market for almost a year.
It's a poorly designed house, on a terrible lot.
I would imagine a lot of these delistings are similar.
Posted on 2/13/25 at 10:41 am to sidewalkside
I bought my first home in 2022 at damn near the top of this mess with a shitty interest rate. You baws let me know if you want some real estate investment secrets and tips.
I’ll echo what everyone else has said in here. I don’t love this house but selling and buying anything that’s even remotely an upgrade would add another 200k to my mortgage balance. No fricking thanks.
I’ll echo what everyone else has said in here. I don’t love this house but selling and buying anything that’s even remotely an upgrade would add another 200k to my mortgage balance. No fricking thanks.
Posted on 2/13/25 at 10:43 am to sidewalkside
Neither.
Both are dug in like WWI trench warfare.
Both are dug in like WWI trench warfare.
Posted on 2/13/25 at 10:48 am to Eighteen
quote:
people In “trap houses”
Clearly you and your friends don't know what a "trap house" is.
Posted on 2/13/25 at 10:52 am to sidewalkside
quote:
He's wildly misusing the term "trap house" and will sound like a fool using this in public.
I’m pretty sure he’s aware of that and is using it as a double entendre on purpose.
Posted on 2/13/25 at 10:53 am to sidewalkside
Thanks for linking a paywall article
Posted on 2/13/25 at 10:53 am to lsupride87
quote:
Yep.
For me to upgrade homes my monthly note would skyrocket
And it's already going up because of homeowners and tax increases without even moving. No reason to make it worse at this point.
We'd like to have a ranch-style on a little more land. But not for what folks are still asking or that interest rate.
This post was edited on 2/13/25 at 11:00 am
Posted on 2/13/25 at 10:54 am to sidewalkside
Winter is normally a slow time for home sales.
Posted on 2/13/25 at 10:56 am to sidewalkside
Me and the Mrs. Both have a house we’re trying to sell. The next house has a lower overall mortgage , but we will be paying the same combined monthly note. We will refinance when rates get back to less than 5% in 2-3 years.
Tons of people looking and getting mortgage approval right now in Louisiana.
Tons of people looking and getting mortgage approval right now in Louisiana.
Posted on 2/13/25 at 10:56 am to Schmelly
quote:
new 30 @6%
more like 6.9% with excellent credit right now. It's aggravating that wife "needs" a different house right now.
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