Buyers or Sellers Market

[Chris Seveney]

Curious for those who are active in the space.

Do you currently see it as a buyers or sellers market right now?

Do you think in 90 days this will have changed?

Love to get your feedback and opinions.

[JD Martin]

I think it's about as close to neutral as it might get. There's still no inventory, but there's also less buyers able to afford with high prices and rising interest rates. On the other hand, serious high prices have just killed builders who are only making it on higher-priced builds. If you just looked at historicals you'd say still seller's market for sure, as most places have maybe a month of inventory at historical rates, but I watch a few markets and I'm seeing houses sit for longer and/or have some price reductions. 

My personal view is that housing prices don't really come down, they just kind of quit growing and the entire housing market shrinks as a percentage of GDP as both buyers and sellers exit the scene. That will keep housing prices high, but everyone involved in the housing market will get walloped - builders, realtors, movers, financiers, home furnishers, etc.