Today we look at the most important factors that go into deciding whether or not to buy a house, especially in the age of Covid 19. I share some current housing statistics, discuss the probability of a housing crash, and share general HOUSING PRICE PREDICTIONS for 2020 and beyond.
I also talk about the three TYPES OF RESIDENTIAL REAL ESTATE BUYERS, the fears you might face, and why you need to get clear on your number one motivation before entering the housing market.
I cover important issues to consider before taking the plunge, including job stability, length of time you plan to own the house, and MICRO-MARKET DYNAMICS to be aware of in your local area. I also go over basic search techniques and the need to question everything throughout the process.
Then we get into the HOUSING MARKET INDICATORS you need to watch if you’re trying to time the real estate market—including existing home sales, pending sales, months supply of inventory, new home building permits, mortgage defaults, foreclosure sales, interest rates, purchase mortgage applications, unemployment, Google Trends, portal traffic, new listings, showing appointments and demographics, including the changing economic influence that MILLENNIALS are bringing to the housing market.
For each of these HOUSING MARKET INDICATORS, we discuss what they are, trends to watch for and how they impact your local housing market.
I use the Reno, Nevada, real estate market as an example of how to use these housing indicators to understand the current dynamics of your own local real estate market. In the process, I provide a market report for the RENO REAL ESTATE MARKET in the context of the broader economy.
This is a comprehensive review of both the common and uncommon housing indicators to look at that will help you better time your entry into the real estate market, useful whether or not we experience a HOUSING CRASH in the United States.
*****MARKET RESEARCH CALL*****
If you’re thinking about buying real estate, but don’t know when to buy, what to buy, whether or not you should buy, or have anxiety around the decision, I would love to talk to you and learn more about the challenges you face so that I can deliver better content.
This is a free, no-strings-attached call. Pick any available time between 1/2 and 1/16, and I’ll email you a Zoom link:
*****GET THE HOUSING MARKET INDICATOR CHECKLIST*****
*****REAL ESTATE PLAYLIST*****
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