When Are Prices Going To Fall?

Anthony Lamacchia: When is the market going to crash? When are prices going to fall? That’s the number one question I’m getting. That’s the number one concern that I’m hearing about from several people here at the NAR conference. I was on stage yesterday at the risk media broker event and they were asking that, and I was explaining, we need to show our buyers, we need to explain to our buyers why it’s impossible for that to be at any time soon, literally not possible.

Anthony Lamacchia with Crush It in Real Estate on Fifth Ave in San Diego. What a beautiful place, such a cool place to hang out and have fun. So many cool bars, restaurants, et cetera. Just want to touch on this for a couple minutes and then I’m going to this event, but what I want to be clear on is it is our job as realtors to educate your buyers so that they understand that they need to stop fearing that, it’s not possible.

Inventory is too low. I said this on stage yesterday, we are literally going into the new year with a lower inventory than a year ago. Think about that one. Remember last winter, this past winter, when everyone’s like, oh my God, oh my God, inventory’s so low. There’s nothing to sell. I have news for you. It’s going to be worse. The only saving grace, the only thing that I think that’s going to make it better is I think people are going to list their homes faster.

I think realtors are better at talking to people about how they can buy and sell at the same time, a little bit better. I also think that now that people are vaccinated and kids are back in school, you’re going to see more people list earlier. We’re going to go and do like real low inventory, and what’s going to happen in is we’re going to see frenzies, people fighting over homes like we saw all winter and spring we’re definitely going to see that again in January and February. I actually think it’s going to be as bad or worse.

I know I said I didn’t think it would be as bad, but now I do. Then I think we’ll snap out of it a little bit quicker. I don’t think it’ll have to go deeper into spring. Think about that, it’s your job to explain this to buyers, show them the inventory, pull on market snapshots, educate your clients. All right, check it out. I’m going to go turn around this way so y’all can see it, straight from San Diego. Look, such a cool place. Cool city. All right. Third cocktail party to go to and then off to dinner. See you guys. Have a good night.