5,157,392
I wouldn't say there is one biggest factor, and they impact in different ways. I'm in the North San Diego area. Certainly all these are affecting buyers, and sellers, depending on their personal situation.
-
Wanda Kubat-Nerdin - W...
St. George, UT
-
Debe Maxwell, CRS
Charlotte, NC
-
Steve Higgins
Kelowna, BC
-
Thomas J. Nelson, REAL...
La Jolla, CA
-
Kathleen Daniels, Prob...
San Jose, CA
-
Ray Henson
Goodyear, AZ
-
Bob "RealMan" Timm
Minot, ND
-
John Juarez
Fremont, CA
-
Carla Freund
Raleigh, NC
-
Nina Hollander, Broker
Charlotte, NC
-
Candice A. Donofrio
Fort Mohave, AZ
-
Brian England
Gilbert, AZ
8,126,507
All of the above plus high real estate taxes. Thousands of apartments are being built to accommodate the housing demands.
-
Debe Maxwell, CRS
Charlotte, NC
-
Wanda Kubat-Nerdin - W...
St. George, UT
-
Diana Dahlberg
Pleasant Prairie, WI
-
Kathleen Daniels, Prob...
San Jose, CA
-
Ray Henson
Goodyear, AZ
-
Bob "RealMan" Timm
Minot, ND
-
John Juarez
Fremont, CA
-
Katina Hargrove 352-55...
Eustis, FL
-
Carla Freund
Raleigh, NC
-
Nina Hollander, Broker
Charlotte, NC
-
Brian England
Gilbert, AZ
941,392
I'm in the Raleigh / Cary, Durham & Chapel Hill areas aka The NC Triangle. I would say all of the above except insurance rates. We're one of the fastest growing areas in the US. The Triangle has a population of about 2m and is expected to grow by another million by 2050.
1. The high interest rates are impacting first time homebuyers and making people in existing homes not want to move from their current home.
2. The lack of inventory is ongoing. It is partially due to high interest rates and partially due to growth.
3. Rising home prices coupled with rising interest rates is making it difficult for first time homebuyers and move up buyers. We're going to see property taxes adjust in the next year or two depending on county and that's just going to add to the problem.
4. The growth and higher home prices is making it difficult to get service workers. While restaurants seem to have rebounded, they're still struggling with staff. The service industry traditionally has a high turnover and now it seems to be worse.
-
Debe Maxwell, CRS
Charlotte, NC
-
Wanda Kubat-Nerdin - W...
St. George, UT
-
Steve Higgins
Kelowna, BC
-
Diana Dahlberg
Pleasant Prairie, WI
-
Kathleen Daniels, Prob...
San Jose, CA
-
Ray Henson
Goodyear, AZ
-
Bob "RealMan" Timm
Minot, ND
-
John Juarez
Fremont, CA
-
Brenda Mayette
Glenville, NY
-
Nina Hollander, Broker
Charlotte, NC
5,461,257
Chicago - lack of a responsible local government causing many to vote with their feet.
-
Debe Maxwell, CRS
Charlotte, NC
-
Wanda Kubat-Nerdin - W...
St. George, UT
-
Diana Dahlberg
Pleasant Prairie, WI
-
Kathleen Daniels, Prob...
San Jose, CA
-
Ray Henson
Goodyear, AZ
-
Bob "RealMan" Timm
Minot, ND
-
Katina Hargrove 352-55...
Eustis, FL
-
Carla Freund
Raleigh, NC
-
Nina Hollander, Broker
Charlotte, NC
-
Candice A. Donofrio
Fort Mohave, AZ
4,955,346
I would say lack of inventory
-
Debe Maxwell, CRS
Charlotte, NC
-
Wanda Kubat-Nerdin - W...
St. George, UT
-
Steve Higgins
Kelowna, BC
-
Kathleen Daniels, Prob...
San Jose, CA
-
Ray Henson
Goodyear, AZ
-
Bob "RealMan" Timm
Minot, ND
-
John Juarez
Fremont, CA
-
Carla Freund
Raleigh, NC
-
Nina Hollander, Broker
Charlotte, NC
-
Candice A. Donofrio
Fort Mohave, AZ
825,835
High interest rates and high home prices. I am retired but still working with my clients referring them to my partner to do the deal. Kelowna BC Canada.
-
Debe Maxwell, CRS
Charlotte, NC
-
Wanda Kubat-Nerdin - W...
St. George, UT
-
Kathleen Daniels, Prob...
San Jose, CA
-
Ray Henson
Goodyear, AZ
-
Joan Cox
Denver, CO
-
Bob "RealMan" Timm
Minot, ND
-
John Juarez
Fremont, CA
-
Carla Freund
Raleigh, NC
-
Nina Hollander, Broker
Charlotte, NC
-
Brian England
Gilbert, AZ
1,764,493
Definitely lack of inventory, since there's a high percentage of cash buyers.
-
Wanda Kubat-Nerdin - W...
St. George, UT
-
Debe Maxwell, CRS
Charlotte, NC
-
Kathleen Daniels, Prob...
San Jose, CA
-
Ray Henson
Goodyear, AZ
-
Bob "RealMan" Timm
Minot, ND
-
John Juarez
Fremont, CA
-
Brenda Mayette
Glenville, NY
-
Carla Freund
Raleigh, NC
-
Nina Hollander, Broker
Charlotte, NC
-
Brian England
Gilbert, AZ
5,289,757
Lack of inventory... people are figuring out ways to overcome higher rates and home prices... they just can't find inventory. Rising insurance rates don't seem to enter the conversation.
-
Wanda Kubat-Nerdin - W...
St. George, UT
-
Steve Higgins
Kelowna, BC
-
Kathleen Daniels, Prob...
San Jose, CA
-
Ray Henson
Goodyear, AZ
-
Joan Cox
Denver, CO
-
Bob "RealMan" Timm
Minot, ND
-
John Juarez
Fremont, CA
-
Brenda Mayette
Glenville, NY
-
Carla Freund
Raleigh, NC
271,981
5. Cost of building a new home.
-
Debe Maxwell, CRS
Charlotte, NC
-
Wanda Kubat-Nerdin - W...
St. George, UT
-
Diana Dahlberg
Pleasant Prairie, WI
-
Kathleen Daniels, Prob...
San Jose, CA
-
Ray Henson
Goodyear, AZ
-
Bob "RealMan" Timm
Minot, ND
-
John Juarez
Fremont, CA
-
Nina Hollander, Broker
Charlotte, NC
-
Katina Hargrove 352-55...
Eustis, FL
787,394
I'm in Santa Clarita, California located 32 miles north of Los Angeles best known for Six Flags Magic Mountain. Lack of inventory is a major factor but interest rates have stagnated our market.
-
Debe Maxwell, CRS
Charlotte, NC
-
Wanda Kubat-Nerdin - W...
St. George, UT
-
Diana Dahlberg
Pleasant Prairie, WI
-
Ray Henson
Goodyear, AZ
-
Bob "RealMan" Timm
Minot, ND
-
John Juarez
Fremont, CA
-
Carla Freund
Raleigh, NC
-
Nina Hollander, Broker
Charlotte, NC
-
Steve Higgins
Kelowna, BC
2,512,298
I am here in Minot ND because I am familiar with it Peter Mohylsky, Beach Expert . The truth is that while I hate our winters I LOVE everything else about North Dakota... especially the people.
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Debe Maxwell, CRS
Charlotte, NC
-
Wanda Kubat-Nerdin - W...
St. George, UT
-
Steve Higgins
Kelowna, BC
-
Kathleen Daniels, Prob...
San Jose, CA
-
Bob "RealMan" Timm
Minot, ND
-
John Juarez
Fremont, CA
-
Ray Henson
Goodyear, AZ
-
Joan Cox
Denver, CO
519,304
Peter Mohylsky, Beach Expert,
I am located in Lake County Florida, very familiar with the surrounding counties. #1 would be the high price of homes, if the prices were not so high, then the interest rates would not be much of an issue. Consumers got used to the 2%, 3% and now at 7% with a high price of home, it most definitely keeps them out of buying. The inventory is there, but I have seen properties expired that were not worth the price they were selling for. I am hoping the market will balance. Insurance and properties taxes are on the rise, it is a big factor here in Lake County.
New Listing (47) |
|
Price Increase (14) |
|
Price Decrease (52) |
|
Back On Market (12) |
|
Sold (32) |
|
Expired (3) |
|
Leased (0) |
|
Pending (41) |
|
Temporarily Off-Market (5) |
|
Withdrawn (0) |
|
Canceled (10) |
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Debe Maxwell, CRS
Charlotte, NC
-
Wanda Kubat-Nerdin - W...
St. George, UT
-
Kathleen Daniels, Prob...
San Jose, CA
-
Ray Henson
Goodyear, AZ
-
Joan Cox
Denver, CO
-
Bob "RealMan" Timm
Minot, ND
-
John Juarez
Fremont, CA
-
Nina Hollander, Broker
Charlotte, NC
1,097,695
5. Economic uncertainty.
Look on the map where CA, NV and AZ come together at a point and there I am.
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Debe Maxwell, CRS
Charlotte, NC
-
Wanda Kubat-Nerdin - W...
St. George, UT
-
Diana Dahlberg
Pleasant Prairie, WI
-
Ray Henson
Goodyear, AZ
-
Bob "RealMan" Timm
Minot, ND
-
John Juarez
Fremont, CA
-
Carla Freund
Raleigh, NC
-
Nina Hollander, Broker
Charlotte, NC
696,179
I think high interest rates are the biggest factor. They affect everything else.
I was in the Elk Grove, CA area and now reside in Goodyear, AZ. Really, though, I am not working. This period of time is more like an unpaid sabbatical. 😃
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Debe Maxwell, CRS
Charlotte, NC
-
Wanda Kubat-Nerdin - W...
St. George, UT
-
Steve Higgins
Kelowna, BC
-
Kathleen Daniels, Prob...
San Jose, CA
-
Bob "RealMan" Timm
Minot, ND
-
Joan Cox
Denver, CO
-
John Juarez
Fremont, CA
1,432,862
Our market is brisk but definitely a sellers' market and way to few homes for sale. I am in Fremont, Ca.,in the S. F. East Bay between Oakland and San Jose.
Intertest rates contribute to the refusal of sellers to sell and re-buy leading to fewer homes on the market. Interest rates are keeping some buyers on the sidelines.
-
Debe Maxwell, CRS
Charlotte, NC
-
Wanda Kubat-Nerdin - W...
St. George, UT
-
Steve Higgins
Kelowna, BC
-
Kathleen Daniels, Prob...
San Jose, CA
-
Ray Henson
Goodyear, AZ
-
Joan Cox
Denver, CO
-
Bob "RealMan" Timm
Minot, ND
920,403
Lack of inventory in Connecticut.
-
Wanda Kubat-Nerdin - W...
St. George, UT
-
Debe Maxwell, CRS
Charlotte, NC
-
Kathleen Daniels, Prob...
San Jose, CA
-
Bob "RealMan" Timm
Minot, ND
-
John Juarez
Fremont, CA
-
Ray Henson
Goodyear, AZ
872,364
2.
I'm in NY's Capital Region
-
Debe Maxwell, CRS
Charlotte, NC
-
Wanda Kubat-Nerdin - W...
St. George, UT
-
Kathleen Daniels, Prob...
San Jose, CA
-
Ray Henson
Goodyear, AZ
-
Bob "RealMan" Timm
Minot, ND
-
John Juarez
Fremont, CA
6,663,864
Why focus on problems, use your energy to focus on Opportunities, they are all over this great country, not just in Wisconsin.
-
Debe Maxwell, CRS
Charlotte, NC
-
Ray Henson
Goodyear, AZ
-
Bob "RealMan" Timm
Minot, ND
-
John Juarez
Fremont, CA
-
Steve Higgins
Kelowna, BC
-
Bob Crane
Stevens Point, WI
3,421,980
San Jose, CA.
YES to all.
And I will add people are leaving the state for a laundry list of reasons, largely political.
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Debe Maxwell, CRS
Charlotte, NC
-
Wanda Kubat-Nerdin - W...
St. George, UT
-
Steve Higgins
Kelowna, BC
-
Bob "RealMan" Timm
Minot, ND
-
Kathleen Daniels, Prob...
San Jose, CA
5,986,882
Inventory and rates are affecting the market, insurance hasn't come up, and our prices are increasing only slightly now.
-
Debe Maxwell, CRS
Charlotte, NC
-
Steve Higgins
Kelowna, BC
-
Bob "RealMan" Timm
Minot, ND
-
John Juarez
Fremont, CA
-
Ray Henson
Goodyear, AZ
2,841,137
High interest and insurance rates is a serious negative.
-
Wanda Kubat-Nerdin - W...
St. George, UT
-
Debe Maxwell, CRS
Charlotte, NC
-
Ray Henson
Goodyear, AZ
-
Bob "RealMan" Timm
Minot, ND
-
John Juarez
Fremont, CA
5,475,599
Here in Charlotte, we are not faced with the rising insurance rates as you are on the coast, Peter. Otherwise, the other 3 all play a part in the market - they always do, one way or another (in any market).
I'd love to see more inventory but, what we are finding here in Charlotte is that sellers who would consider selling and have a 3% interest rate, are not willing to trade that for a rate that is more than double what they are paying now.
In the meantime, prices continue to rise due to the low inventory.
-
Joan Cox
Denver, CO
-
Steve Higgins
Kelowna, BC
-
Wanda Kubat-Nerdin - W...
St. George, UT
1,614,419
Biggest factor to what? There's a big leap implied there so I'll interpret how I see your question...
The 2 best times to plant a tree - 20 years ago or today.
A friend at 40 said she wanted to become a lawyer but was bummed out that she'd be 50 before she could be a lawyer at the pace night school and online would take. I told her "Well you can turn 50 regardless. Or you can turn 50 as a lawyer...which sounds better?"
I agree with Jeff Dowler, CRS - each individual will see one, all or essentially none of those are a big factors.
The bottom line is deals are closing daily here from North to South and East to West San Diego; I'll be closing 3 escrows this month too.
The market is just The Market. Only people living in the past are fearful and hung up on some fantasy of the future are frozen. The folks living in the present are doing what they need to do today for a better tomrrow.
-
Andrew Mooers | 207.53...
Houlton, ME
-
Wanda Kubat-Nerdin - W...
St. George, UT
-
Thomas J. Nelson, REAL...
La Jolla, CA
5,177,402
All of the above I would say.
-
Wanda Kubat-Nerdin - W...
St. George, UT
-
Debe Maxwell, CRS
Charlotte, NC
-
Bob "RealMan" Timm
Minot, ND
2,117,254
Others may be moaning and bitching about Chicagoland real estate, and yet people are clamoring for more and more inventory, they can't get enough of it. I could sell three of every listing I bring on the market, so I don't know where all the local naysayers are coming from.
You go ahead and vote with your feet, but let me know when you're vacating so I can bring a buyer to fill your vacancy.
Sure, interest rates are high, prices are soaring, inventory is low... but people are lined up to purchase. Biggest factor? I dunno, I'm too busy writing up contracts, conducting inspections, attending closings to worry about it. Y'all let me know when you figure it out.
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Debe Maxwell, CRS
Charlotte, NC
-
Andrew Mooers | 207.53...
Houlton, ME
2,246,128
1. Lack of Affordable Housing 2. Interest Rates
-
Wanda Kubat-Nerdin - W...
St. George, UT
-
Debe Maxwell, CRS
Charlotte, NC
2,311,294
Inflation in every aspect of life and ridiculously high taxes.
Central Washington State.
-
Wanda Kubat-Nerdin - W...
St. George, UT
-
Debe Maxwell, CRS
Charlotte, NC
683,806
I cover SE Wisconsin (Kenosha, Racine, Walworth and some of Milwaukee counties) since 1994 and I would have to say all of the above. But it seems the most prevalent is lack of inventory, then high interest rates. High prices and increased insurance costs are a definite 3rd and 4th.
-
Debe Maxwell, CRS
Charlotte, NC
-
Wanda Kubat-Nerdin - W...
St. George, UT
1,092,025
4, 1, 3, 2 in my area, I'm east of Sacramento in Fair Oaks, CA
Interest rates are keeping many people in their homes, so I think if #1 was resolved, #2 would also be resolved as more people would sell and move.
The insurance fiasco is out of control in California, but #4 is a real problem - not today's rising prices, but catching up from 2020-2021. Wages haven't kept up, and the % of income people have to put toward their mortgage today is scary and limits savings, making financial security hard to come by.
-
Wanda Kubat-Nerdin - W...
St. George, UT
-
Bob "RealMan" Timm
Minot, ND
411,739
lack of inventory on Lake Sinclair where there are a lot of STR investments and second homes.
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Debe Maxwell, CRS
Charlotte, NC
2,284,441
Pretty lucky in rural Maine. People are paying cash, not financing homes. Building like crazy and cheap lumber (91% of Maine is forest) plus Canadian import easy on border location with 1.35 dollar stronger than loonie dollar. Cheaper real estate, lower cost home insurance in 4th lowest crime state.
The least expensive state for full coverage auto insurance is Maine, at roughly $589, 53.4% below the national average
-
Debe Maxwell, CRS
Charlotte, NC