March Housing Numbers Are In; It Ain't Pretty

[Michael Carbonare]

March housing numbers are in.
https://lnkd.in/du6Y84c6

Single-family home sales just dropped again, now at 3.63M annualized
Condo sales? Down to the lowest levels on record
Inventory? Sitting at a 10-year high

We now have the worst combination possible, (or best, depending on which side of the table you're seated):
Demand collapsing
Supply rising
Sellers anchored to yesterday’s prices
We have a standoff.

This isn’t a crash. . .yet.
Buyers can’t buy, (rates + affordability)
Sellers won’t sell, (denial, and to a lesser extent, the lock-in effect)
Transactions? Buyers have hit the brakes.

Underneath this “deepfreeze” is a growing pool of:
Motivated sellers who haven't sold: Reluctant Landlords
Deals that don’t work conventionally
This is where creative strategies take over.

Lease options.
Cooperative assignments.
Seller financing.
Not because they’re trendy
But because they’re the only things that actually solve the problem.

If you’re waiting for the market to “normalize", you’re going to miss the opportunity.
This IS the opportunity.

[Ken M.]

Quote from @Michael Carbonare:

March housing numbers are in.
https://lnkd.in/du6Y84c6

Single-family home sales just dropped again, now at 3.63M annualized
Condo sales? Down to the lowest levels on record
Inventory? Sitting at a 10-year high

We now have the worst combination possible, (or best, depending on which side of the table you're seated):
Demand collapsing
Supply rising
Sellers anchored to yesterday’s prices
We have a standoff.

This isn’t a crash. . .yet.
Buyers can’t buy, (rates + affordability)
Sellers won’t sell, (denial, and to a lesser extent, the lock-in effect)
Transactions? Buyers have hit the brakes.

Underneath this “deepfreeze” is a growing pool of:
Motivated sellers who haven't sold: Reluctant Landlords
Deals that don’t work conventionally
This is where creative strategies take over.

Lease options.
Cooperative assignments.
Seller financing.
Not because they’re trendy
But because they’re the only things that actually solve the problem.

If you’re waiting for the market to “normalize", you’re going to miss the opportunity.
This IS the opportunity.

I agree with you. The only way people have going forward, for the foreseeable future, is to utilize creative finance.

Not the "over pay, zero down, borrow the closing cost" type of nonsense being taught by the "SubTo Group", but level headed, legal, creative finance that gets the job done.

That includes, Wraps, Seller Finance, Contract for Deed, Lease Options and a host of other options, That satisfy the need of both the seller and buyer and withstand the scrutiny of regulators. They've been around for ever and as long as you follow the guidelines, there is a lot of money to be made, relatively safely.