John Burns’ Post

BOLD Prediction I think the next 90 days will be the best time for buyers to buy homes, the window of opportunity for buyers to get a deal on a property before home prices rise again. What happened to all the people who bought homes in April, May, June of 2020? When no one else was in the market… Their home values spiked by the end of 2021. History might not repeat itself here exactly, but I think we’ll see a similar story play out. As rates continue to drop this year, more buyers will now qualify or the monthly payments on homes will make more sense and more people will re-enter the housing market. If home prices didn’t crash when rates were 8%, how can they drop now that rates are getting better? They won’t. 2024 will be a rebounding year in the real estate market compared to 2023, that will be good for a lot of people but there will also be a lot of people left behind because of more competition on just not enough homes. If buying a house is on your list of things to do or you’re curious to see if it’s possible for you, reach out sooner than later. 

📉 Confused by Headlines About Home Prices? Here's What You Need to Know! 📈 Recent news about home sellers slashing prices can be misleading. Here's the real story: home prices are higher than they were a year ago and are expected to keep rising, just more slowly. 🔍 Understanding Asking Price vs. Sold Price: ✨ The asking price is what sellers hope to get. ✨ The sold price is what buyers actually pay. Even with more price reductions, home values are still growing annually. According to the FHFA, home prices rose 6.6% over the last year! 🌟 Key Takeaways: 📊 Price reductions don't mean overall prices are falling. 🏡 Home values continue to rise, just at a slower pace. 🤝 More realistic asking prices benefit both buyers and sellers. For buyers, this means fairer prices and a stable market. For sellers, setting realistic prices can lead to quicker sales and smoother transactions. Bottom Line: The market is adjusting, not declining. Connect with a local real estate professional to navigate these changes with confidence. 📲 904-907-4559 📧 [email protected] 🔗🌳 https://lnkd.in/gx45-kxS Berkshire Hathaway HomeServices 🔗 to blog: https://bit.ly/3Vq8G4m #BHHS #ForeverAgent #DanielleFraserRealEstate #Realtor #StAugustineRealEstate #LoveWhereYouLive #SellWithDanielle #RealEstate #HomePrices #HousingMarket #PriceReduction #HomeBuying #HomeSelling #MarketUpdate #RealEstateTips #PropertyValues

Insightful read on the current housing market dynamics. It’s interesting to see how the balance between buyers and sellers is shifting, with lower home prices and inventory challenges shaping the landscape. 🏠 #HousingMarket #RealEstate #HomePrices #MarketTrends #PropertyInvestment #BuyersMarket #SellersMarket #EconomicOutlook

Eastside home prices jumped 19% last month compared to a year ago, reaching a median of $1,682,500. More than half of all homes sold above asking price, as buyers had to compete hard for limited inventory – just 0.6 months of supply by the end of March, a 46% year-over-year decline. Let’s connect to see how these trends might impact your real estate goals.

🏡The market is starting to move a bit, but we won't see its full effects until the December numbers come out. While home sales were up slightly year over year in November, pending sales were up by 9% and new listings were up 11% according to the Austin Board of Realtors November Central Texas Housing Report. 🤔The median home price across the Austin-Round Rock MSA dropped 8% to $424,450, indicating a more negotiable market. Remember many sellers are buyers too, while they may be tied to their historic interest rates from years past, they've got the buying bug as well. 🐞For sellers who need to sell to purchase another home - that bug is getting hungry if it's been around for a while. The interest rate, while a data point, isn't the only factor in deciding to sell a home. The slow speed of the market is leading to decreased home prices and increased concessions. A buyer's bug has gotta eat. . . . . . #austinrealestate #Roundrockrealestate #austintx #austinrealtor 

Good info on how home prices did overall last year. The national news focuses on the negative because it sells, but they may not be giving you the whole picture. Take a look at the stats below and let me know if you have any questions. (Equity Colorado Real Estate) #homeprices #homepricetrends #realestatenews #homesales #realestateadvice

The US housing market is experiencing one of its least affordable periods in decades, with residential sales plummeting and excluding a generation of aspiring homeowners. However, the wealthy remain largely unaffected. Despite a troubling key selling season with new home sales down and transactions for previously owned properties dropping for the fourth consecutive month, the luxury housing market thrives. Sales for homes over $1 million rose in June, driven by buyers unaffected by the 30-year fixed mortgage rate increase to 6.8%. Lisa Rooks Morris from Douglas Elliman in Sarasota, Florida, notes, “I can’t remember the last time I heard a buyer talk about financing. They all come in with cash.” This influx of cash buyers is fueling a high-end real estate boom. Toll Brothers Inc. reported stronger-than-expected orders and increased its full-year deliveries guidance. The company’s shares have soared nearly 160% since early 2023. Data shows 45% of US high-end homebuyers used all cash as of Q1 2023. Wealthy buyers leverage stock portfolios, sales of long-term holdings, and inherited wealth. In contrast, entry-level buyers face rising inflation and loan approval challenges. The housing market's bifurcation mirrors broader economic disparities. The homebuilding industry acknowledges the need for affordable housing but faces high costs of land, labor, and materials. As of 2022, 39% of US homes were mortgage-free, highlighting a pool of potential cash buyers. This growing divide in the housing market illustrates the economic disparities and market dynamics. #RealEstate #HousingMarket #LuxuryHomes #EconomicInequality #MortgageRates #Homebuyers #AffordableHousing #MarketTrends #RealEstateInvesting #Homebuilding Real Estate Market Is Broken for Everyone Except the Ultra Rich https://lnkd.in/gEwTqE2c

Eastside home prices jumped 19% last month compared to a year ago, reaching a median of $1,682,500. More than half of all homes sold above asking price, as buyers had to compete hard for limited inventory – just 0.6 months of supply by the end of March, a 46% year-over-year decline. Let’s connect to see how these trends might impact your real estate goals

The housing market's been on a rollercoaster lately! How does this impact the value of your home? 🏠💰 Here's the scoop: When interest rates rise, borrowing becomes more expensive. This makes purchasing high-end homes more difficult. That's why some listings today are decreasing prices - homes are taking longer to sell with fewer buyers able to afford premium properties. 📉 On the other hand, there are still many buyers searching for a good deal, especially when it comes to fixer-uppers. 🔨👷♂️ While some buyers are waiting for rates to drop before they can afford their future home, many are still ready to buy regardless of interest rates. So, if you're thinking of selling, don't wait too long! 🏃♀️⏰ Over time, fewer buyers may be willing to offer top dollar for your home. 📲 515-778-2747 📧 [email protected] 🔑 Licensed in Iowa. #IowaRealEstate #KristalSoldIt

🏡 Year-over-year home sales, homes available for sale and median prices rose in Illinois during July. “The increased inventory offered more choices for buyers as sellers started returning to the marketplace,” says Illinois REALTORS® President Matt Silver. “The upswing in both sales and median prices indicates that sellers have seen positive outcomes as well.” 📈 Get the full Illinois housing market report > https://lnkd.in/eEFJb73