Will the Market Crash?

📌Headlines, headlines❗

  • "The real estate market is crashing..."
  • "This looks like 2008..."
  • "Interest rates have paralyzed the market."

🤯 What do all these headlines mean❓

👉These headlines are fake news.

Below are some statistics 📊 that will tell a completely different story. We see absolutely NO indicator that the market is going to crash. It doesn't look anything like 2008. 🙅‍♂️

📌Active inventory today versus 2019:

  • St. Louis City, inventory levels are down 41%. 📉
  • St. Charles County, inventory levels are down 50%. 📉
  • St. Louis County, inventory levels are down 60%. 📉

👉We have an inventory issue right now. It is a severe Seller's Market. If we were to back up to 2008 inventory levels, they were probably about 8 - 10 times more than what they are today. 📈

📌 Unit Sales June '23 vs June '22

  • St. Louis City, sales units are down 24% year over year.
  • St. Charles County, sales units are down 23% year over year.
  • St. Louis County, sales units are down 21% year over year.

👉Does that mean the market is crashing❓ Absolutely not❗ It means there's just not enough inventory to support the demand. 📉

📌The demand is leading to multiple offers, over asking on the majority of properties. Properties that are sitting have either a condition or a pricing issue. Once those homes get repriced, they're selling. 💲

📌Units are down, it's a severe Seller's Market, but prices have stabilized. We are seeing significant demand, but we haven't seen a significant increase in prices. 🤔

📌When we look at price increases in July '23, I expect those to look a lot different this year vs last year.

📌This is a market that I don't see changing, unless we were to have an increase in inventory, which I'm just not seeing. 🙅‍♂️

🏡If you're a seller or a prospective seller, get your home on the market because we know what is happening in today's market.

🏡 If you're a buyer, you certainly have to have the appetite to participate in today's market. 💪

If you want any information about buying, selling, investing, or the value of your home, don't hesitate to reach out to us! 🙂

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