I read today that Redfin expected the real estate market to be in decline for at least the remainder of 2023. Redfin cited high home prices and high mortgage rates for the concern.
The CEO of Redfin, Glenn Kelman further opined that the solution is: "So what we need to do is just build more houses." Not certain about the logic there since the cost to build now is extremely high and he admitted that mortgage costs are historically high.
I feel that quality always sells. Location always sells. If you have one or both of these, the home will sell at a reasonable price. There will always be people that want to move or have to move...to be with family, career, lifestyle, etc. As Americans we tend to adjust to market conditions for the things we WANT or NEED. This may or may not be a good thing but it is reality.
I read a lot of blogs on the 'Rain and they are filled with positive news and vibes. Not many complaining here. The attitude is refreshing in today's downer mentality!!!
Yay its Raining!!