103: Q2 2023 Housing Market Update: Homebuying Could Get MUCH Harder
Homebuyers are gearing up for a hot summer housing market as demand starts to surge. At the beginning of 2023, nobody thought it possible that we’d be in the position we’re in today. Days on market have shrunk in some areas as listing attendance explodes and buyers' home-owning dreams resurface. But it’s not all sunshine and rainbows in the world of real estate; something bleak is on the horizon for large-scale investors. We’re halfway through Q2 of 2023, and the real estate market is changing fast month by month. Multifamily buyers are sitting on the sidelines, foaming at the mouth to dig in on deals that will soon be dead, but primary residence shoppers are facing another challenge. With a lack of inventory and mortgage rates on the verge of falling again, the buyers who were kicked out of the market last year are hungry to get back in the game. Don’t know whether now is the right time to buy your next rental property? Kathy and James give up-to-date advice on what they’re pursuing in today’s market and whether or not now is the time to get aggressive. If you want to get the data these (and many other) experts use to make their investment decisions, check out Dave’s newest Q2 housing market report!
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Show Notes
Homebuyers are gearing up for a hot summer housing market as demand starts to surge. At the beginning of 2023, nobody thought it possible that we’d be in the position we’re in today. Days on market have shrunk in some areas as listing attendance explodes and buyers' home-owning dreams resurface. But it’s not all sunshine and rainbows in the world of real estate; something bleak is on the horizon for large-scale investors.
We’re halfway through Q2 of 2023, and the real estate market is changing fast month by month. Multifamily buyers are sitting on the sidelines, foaming at the mouth to dig in on deals that will soon be dead, but primary residence shoppers are facing another challenge. With a lack of inventory and mortgage rates on the verge of falling again, the buyers who were kicked out of the market last year are hungry to get back in the game.
Don’t know whether now is the right time to buy your next rental property? Kathy and James give up-to-date advice on what they’re pursuing in today’s market and whether or not now is the time to get aggressive. If you want to get the data these (and many other) experts use to make their investment decisions, check out Dave’s newest Q2 housing market report!
In This Episode We Cover
A Q1 housing market roundup and why the market flipped even with high mortgage rates
New inflation data and why consumer prices aren’t dropping yet
Whether or not another interest rate hike could hit homebuyers this year
Housing demand and why sellers are seeing a BIG boost in buyer activity
Our Q2 housing market predictions and what to do if you’re on the fence about investing
The BEST online sources to pull housing data from, plus Dave’s newest Q2 housing market report
And So Much More!
Links from the Show
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Past Episodes Mentioned in Today’s Show:
Connect with Other Investors on the “On the Market” Forums
Data Sources Mentioned:
Check the full show notes here: https://www.biggerpockets.com/blog/on-the-market-103
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