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Ep. 78 - The State of the Resale Market Address

Could your home be a goldmine waiting to be unearthed? The data doesn’t lie! In this episode, we unravel the conflicting dynamics of the current home resale market at play. We delve into the equation of how plummeting sales and dwindling demand might unexpectedly translate into a seller's market. Armed with fresh-off-the-press data, we examine the limited turnover of homes in the US and the "lock-in effect" due to low interest rates on mortgages. With the data we have, we can also look ahead to 2024 & 2025, which economists are forecasting as some of the biggest real estate years in American history.

 

Dive right in for the latest info and tips on how buyers can take advantage of the market!

 

[00:01 - 03:29] Home resales at a record low—it’s time to take advantage of appreciation before interest rates drop!

[03:30 - 07:04] Home prices are set to rise in 2024 as a lock-in effect causes a limited inventory wave

[07:05 - 10:02] Builders reap the benefits of a low inventory market with competitive advantages and incentives

[10:03 - 16:10] Seize the moment: pent-up demand is driving forecasts of record real estate years ahead

[16:11 - 18:17] What to do with this information: wealth building through real estate investing



Quotes:

 

"Home appreciation is a real thing. And we've given multiple reasons as to why we think that could be the case." - Quinton Harris

 

"It's almost like musical chairs at that point; you're going to be switching properties back and forth because there’s not really new inventory coming on the market." - Quinton Harris

 

“The pent-up demand that is being driven in the background between buyers that want to buy a home, and homeowners that own a home who want to move, is probably the highest we’ve ever seen in the history of the United States.” - Quinton Harris

 

"This is the moment when [you] need to engage and start getting pre-approved, start searching for a home, and realize the home that [you’re] buying today, this isn't [you’re] forever home, especially if [you’re] a first-time home buyer." - Quinton Harris

 

Resources Mentioned: 

 

 

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Bank of England is a nationwide lender that takes the time to understand your needs and structure the right mortgage for you and your family. Find your local branch at https://www.boemortgage.com/.

 

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