The Market is Changing

Video transcript for "The Market is Changing":

Anthony Lamacchia:

Market’s changing, folks. Listings are sitting, more price adjustments are happening, some sellers are being stubborn about price adjustments. And here’s the biggest reason I say the market’s changing: inventory has flatlined for about 5 weeks straight. Normally, by 3 weeks ago, it starts going down, that’s normally what happens at this time of year. But instead, it’s staying the same. Why? More listings aren’t selling, demand is not keeping up with things because more properties are sitting. So even though more homes aren’t getting listed, there’s more properties that are not selling, so the inventory is maintaining the same.

In the next couple of weeks, now that we’re into the holidays, this past week, next week, we will see it go down a little bit, but it’s not where it was, folks. I believe that the lowest point of inventory, the lowest year of inventory, is this year, 2023. From here, it’s going to be up. Now, careful what you wish for. Some of you hear that and you get very excited and you say, “Oh, that’s great, I’m tired of low inventory.” Well, as inventory goes up, there will be more listings not selling, and then there will be more listings. For those of you that know how to get the right prices and get price adjustments, i.e., get sellers to be realistic, you will thrive. For those of you that don’t, you will suffer. This is very important. This is going to happen over the next couple of years as we transition back to some sense of normalcy.

Now, don’t get me wrong, January, February, March, you’re going to see multiple offers again. However, they’re not going to get eaten up as much. Once we get to Summer, inventory is going to keep going up, and then as it goes up and goes up, there’ll reach a point where it goes up a lot faster, like it’ll jump. Be prepared, stay tuned in Crush It in Real Estate. I’ll be giving all kinds of tips on how to deal with this in the week, months, and years to come.

That’s all, folks. Just finished a great day of skiing, my son Charlie’s filming, Grant’s in the back on his iPad. Have a great day.

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