"Real estate" "Can’t sell house" Why?

Question

Searches for “Can’t sell house” just hit record highs, even higher than during the 2008 housing crisis. Why? We all know why, however we just do not want to admit we were ALL wrong. We do know it is not "High Mortgage Rates" Rates dipped into the high 5s a few weeks ago, we are at a historic low rates period. So why cant you sell that house?

Because Covid and draconian lockdowns were an Artificial scam. With 56% of Americans now say pandemic shutdowns caused unnecessary economic damage, compounding with artificially low interest rates In many markets. Home prices surged 30–50% between 2020 and 2022. Housing inventory has started to increase in many areas. More homes on the market means buyers have more options. When supply increases, competition among sellers increases as well. We need to have the tough conversation that ends with this "Whatever your house or property was worth in May of 2021 that is what it is worth today."

Blake Anthony Carter · Answer

Tons of economic factors impacting this. I don't think we'll see values start to increase for another 2 years. Really great opportunity to find motivated sellers though.

Chase Busick · Answer

@Jay King, I like your post!

I totally agree! In Oklahoma City, there are more homes coming to market and boosting up the inventory compared to how many traditional home buyers there are. We still have not officially transitioned to a full buyers market, but are definitely close to an even market.

This is leaving many homes sitting on market for longer. If people aren't willing to decrease their price, because they want to get the max for the home, it will most likely sit longer if there is better options to choose from.

As more and more inventory is coming to market, it really is essential to be priced at a realistic price point in order to sell the home. This is more common for homes on market which is more retail and traditional homebuyer's, but there are a lot of newer investors that can get a little more options. As with finding and getting good deals, it really does depend on one's own internal deal criteria and what their intent is with their strategy.

I feel like Texas and other states see this a little more often if home values and prices rise super quick. They will most likely deflate or come down in price to what the actual market (what people/buyers are willing to pay) will bear