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Jashleyren

Beach Comber
Sep 15, 2021
7
6
Destin
We are overdue. If any of you are basing your opinions on the real estate market on how the STOCK markets are performing, I can assure you that the stock market is front-running expected economic trouble. Right now, stock levels are about summer 2020. If the markets think this is the stopping point, then I expect home prices to sink to about summer 2020 numbers as well. Reason? Though the stock market and real estate markets are not directly correlated, they are indirectly related.

No one knows at all, and should not claim that they do, where we are headed. I'm just telling you where we ARE, which you all could have done for yourselves.
 

Jimmy T

Beach Fanatic
Apr 6, 2015
833
1,198
The real estate market is still insanely overpriced. This place just went up for sale near us. 1.2 for a fixer-upper. Will be interesting to see what they get for it.
 

redfisher

Beach Fanatic
Sep 11, 2005
374
37
Yep. Sales are definitely down. Prices are still pretty steep though. Wonder when they will start coming down.

Cash sales down 40% yoy, back to 2019 levels, so investors and 1031's are drying up. Next, I think "time to close" will expand because banks won't lend on tighter credit or appraisals. Rates + layoffs will do the rest
 

Matt J

SWGB
May 9, 2007
24,241
9,215
To be clear this thread was only about the real estate market. The actual housing market will continue like it is for 5-6 years. We're still building from a backlog after the 2008 crash.
 
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