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Posted on 5/31/25 at 1:59 pm to hikingfan
This still regionally dependent. House prices are not dropping in NWA and higher end availability (2700+ sq ft, non-cookie cutter, on a half acre +) is still slim and expensive.
Posted on 5/31/25 at 2:38 pm to Hateradedrink
quote:
All the houses locked in at sub 3% rates are what is keeping the prices afloat. People aren’t going to lose that rate unless they absolutely have to.
You’d be surprised. I’m in my mid thirties and I know couples ditching their home with 3% rate because they feel like they need a bigger place. I can think of at least 3 couples in my social circle.
I wouldn’t do it but some people are just willing to do what they want even if it doesn’t make good financial sense.
Posted on 5/31/25 at 2:47 pm to Sofaking2
Illegals were buying houses?
Renting, maybe...
Renting, maybe...
Posted on 5/31/25 at 2:49 pm to GeauxTigers123
quote:
You’d be surprised. I’m in my mid thirties and I know couples ditching their home with 3% rate because they feel like they need a bigger place.
That would be me
Posted on 5/31/25 at 3:00 pm to stout
quote:
FNMA and Freddie now actively combating mortgage fraud to keep people from lying to buy 2nd, 3rd, and 4th homes to use as rentals will also have a huge impact. Now those people will have to actually put 20% down and pay higher rates normally associated with investment properties so there will be fewer people who can or are willing to do that.
How in the hell did they let people lie about this so much. Basically just artificially inflated prices with loose government money which is meant to help people afford their own home. Instead it priced them out of the market. I swear the government always achieves the opposite of what they say they’re going to do.
This post was edited on 5/31/25 at 3:01 pm
Posted on 5/31/25 at 3:08 pm to GeauxTigers123
Yeah, I’m sure there’s some like that, but I guess what I’m saying is that sellers are less likely to cut prices when their interest rate is basically inflation.
They aren’t in a hurry, unless they are.
They aren’t in a hurry, unless they are.
This post was edited on 5/31/25 at 3:09 pm
Posted on 5/31/25 at 3:49 pm to HailHailtoMichigan!
quote:
This is great news
Hear you. Really do!
But have never bought a home without also simultaneously selling one.
Both pockets in pants count.
Posted on 5/31/25 at 4:31 pm to CuseTiger
quote:
Wondering if I should casually look and continue to let prices drop or i bite the bullet rather than dealing with signing another lease and breaking it in a few months if prices drop even further? $4k to break a lease in December
It never hurts to start looking. You might find the perfect place at a decent price this summer.
Posted on 5/31/25 at 4:36 pm to Stateguy
If it’s like my city the housing is being solved by way too many apartments and townhomes.
Posted on 5/31/25 at 4:54 pm to hikingfan
And yet prices will only go up. Just like housing mortgage bond values went Higher as more mortgages went underwater in 2007.
Posted on 5/31/25 at 5:37 pm to Auburn80
Every big metro I visit looks that way.
Posted on 5/31/25 at 6:36 pm to Stateguy
quote:
Listening to a lot of economics podcasts over the last few years
Said there was a housing shortage and that we needed millions more homes and this was a driver to home prices.
Housing crisis is a regional problem for areas with a decent economy. Is there a housing crisis in the Bay Area? You betcha. Is there a housing crisis in Monroe, Alec, or Jackson? No, there's a surplus because there's no opportunity there.
Posted on 5/31/25 at 7:28 pm to hikingfan
Wake me up when the cost to build isn’t insanely high. Till then, this is a nothingburger. Prices will remain high if we aren’t building, people have to live somewhere. Also, I’d venture to guess that the vast majority of these “sellers” are just testing the market and will pull the listing if they don’t get what they need to move.
Posted on 5/31/25 at 7:52 pm to questionable
The neighbor behind me just sold hers at asking + $35k, but she had to put in a new roof, gutters and resod the yard per the wife. $910k.
Another neighbor two houses away has his up at $875k and that went up for sale two weeks ago. Lots of activity by the agent. There's two more, same neighborhood, $913k and $975k up for sale, both three weeks ago.
Rate for there to be one. But, the neighborhood was built in 1995-1997. Only 77 homes. Everyone had kids and all those have all grown up, many went to college and moved away and so the neighborhood is now filled with empty nesters looking to downsize or move to where the district school taxes are much lower while newer families looking for space, trees, landscaped yards, pools already installed and with an elementary and middle school just blocks away with the added bones that DFW Airport is a 9 minute drive away. So when these homes come up for sale they move pretty quickly, regardless of current market conditions.
Another neighbor two houses away has his up at $875k and that went up for sale two weeks ago. Lots of activity by the agent. There's two more, same neighborhood, $913k and $975k up for sale, both three weeks ago.
Rate for there to be one. But, the neighborhood was built in 1995-1997. Only 77 homes. Everyone had kids and all those have all grown up, many went to college and moved away and so the neighborhood is now filled with empty nesters looking to downsize or move to where the district school taxes are much lower while newer families looking for space, trees, landscaped yards, pools already installed and with an elementary and middle school just blocks away with the added bones that DFW Airport is a 9 minute drive away. So when these homes come up for sale they move pretty quickly, regardless of current market conditions.
Posted on 5/31/25 at 10:22 pm to Upperdecker
The dick that hates Trump should lower interest rates but won't because he's got his panties in a wad. Inflation was 2.1 % last quarter. If a Dem was president he would have lowered rates twice since last November.
Posted on 5/31/25 at 10:31 pm to hikingfan
quote:
ever recorded
By Redfin, since 2013
Posted on 6/1/25 at 5:58 am to GRTiger
Sister in law just sold her house for asking price in three days. Had two offers as well. The housing market is different all over the country. Some are still very hot, while others you can't give a house away.
Posted on 6/1/25 at 6:19 am to hikingfan
I wish they would show a breakdown of home values they are in the market to purchase.
Stat is misleading at best.
Stat is misleading at best.
This post was edited on 6/1/25 at 6:20 am
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