Deals Coming THIS Winter? (Oct. 2024 Housing Market Update)

"I believe that there are some signs that buying conditions are going to improve at least a little bit this winter"

"I actually think that it is going to cool a little bit further as we head into the seasonal decline it always starts to cool in the winter"

"I do think the cooling of the national housing market and mortgage rates come down which we'll talk about in a little bit that could create opportunity to negotiate and get some pretty good deals on properties that have good intrinsic value... for an astute investor who is willing to be patient there are probably going to be opportunities to negotiate and buy properties under asking price and personally at least for me I am looking forward to this winter"

"home sales are generally pretty slow before presidential election I am recording this 2 weeks before the presidential election and I think a lot of people are just slowing down so that is just one thing that's going on here that I think we should call out that it's probably artificially a little bit lower than it would normally be"

"in total we have way less demand but we still have more demand than Supply and again back to econ 101 that tells us that prices are going to continue rising"

"I think it's going to be a slow volatile bumpy road to mortgage rates I think we're going to see a lot more swings of 20 basis points a quarter of a percentage point one way or another for the next couple of months but the overall trend is going to be downward"

"I actually don't think we're going to see anything below 6% in 2024"

"if I had to voice an opinion right now I currently think sort of the lower range for rates will be around 5.5% so you know if we fast forward a year from now I'd say that mortgage rates will probably stay between 5 and a half and 6 and a half% for the next year"

"I actually think we might see a modest increase but I don't feel strongly enough about that"

"the main takeaway is not to forecast rent growth that's at least what I've been doing or maybe forecasting it at 1 or 2% for the next couple of years"

"multif family is dragging down rent prices and that's likely to continue for at least another six maybe nine months"

"I highly recommend you do it conservatively with little to no rent growth at least for the next 6 months"

"I'm not personally expecting big changes for the rest of the year"