Understanding where sellers are moving in 2022 can help buyers and investors make better real estate decisions!
Some odd cities
Maybe what I hear from sellers in my area is just completely different from folks in San Francisco, but there are some cities where sellers are talk to are moving in 2022 that did not even make this list. We will touch on that, but it seems this list is better described as markets where San Francisco sellers have searched for a home, not necessarily where they bought a home. Either way, it can be useful information to help guide our interests as buyers and investors since at the very least, we can bet that searching in those areas is up.
Housing starts, construction and home builder confidence
While many of the headlines seem positive, the second half of 2022 is quickly turning into a sad story relating to new home construction where we are down compared to the same time last year.
Record low mortgage demand
Just one more item that will continue to push up inventory. As time goes on, serious sellers will stay on the market and be forced to lower their prices. Sellers who can afford to wait, will. However, it depends on how long they can wait. Waiting longer could be a bad play if prices continue to drop.
San Diego
Lots of headlines expecting San Diego to get hit hard. I don’t disagree and think that the sweet spot for buyers and investors is yet to come in that market.
Articles:
- https://www.redfin.com/blog/where-people-leaving-san-francisco-are-considering-moving-to/
- https://calculatedrisk.substack.com/p/september-housing-starts-record-number
- https://www.cnbc.com/2022/10/18/homebuilder-sentiment-drops-to-half-of-what-it-was-six-months-ago.html
- https://www.cnbc.com/2022/10/19/mortgage-demand-drops-to-a-25-year-low-as-interest-rates-climb.html
- https://realtybiznews.com/a-look-at-san-diegos-fizzling-real-estate-market/98774913/
Prefer The Video Version?
Check Out The Last Show!
