Real Estate Crash put on Hold
Just today CNBC ran an article on data from Redfin about sellers pulling their homes from the market.
"Close to 85,000 U.S. sellers took their homes off the market in September, up 28% from September 2024 and the highest level for that month in eight years," and the Senior Economist was quoted in saying, “When tens of thousands of homeowners pull their homes off the market rather than accept a low offer, it effectively reduces the supply of homes that are actually available for buyers. That keeps sale prices elevated.”
If this holds true, this proves we are not heading for a crash of any kind in real estate. For there to be a crash there has to be panic selling and as the economist is quoted, homeowners are just choosing to stay put because they are in great financial shape and can afford to stay. This market does not show signs of crashing.
Instead, we are headed for a slow slog through the mud of limited transactions and little, to no appreciation over the near term.