Our head cheerleader is back at it.
He is predicting that sales and pricing will increase this year, which is optimistic:
Here are the local YoY comparisons:
It’s been a miracle that sales and pricing this year have kept up with the 2024 numbers. Any Fed rate cuts are going to come too late (September/October) to save the real estate market this year, but hopefully they will provide some juice for the early-2026 market.
I think a pattern is developing.
The first quarter of 2024 and 2025 were hot, then we muddle through the rest of the year. The same will probably happen next year too, where the surge of inventory bogs down the market by the second quarter. There aren’t enough buyers for every listing!
There isn’t anything that price won’t fix, and something has to give.
Either sales or pricing will need to be sacrificed. Or both
Yunnie is like Cramer where if you just do the opposite, the results are better.
I’ll guess that our local sales will finish this year at -6%, and pricing at -3% YoY.
This guy is obtuse. Demand for things is always unlimited, the ability to pay for it is not.
Recent college graduate unemployment is approaching 8% and underemployment of those under 30 is probably closer to 40%. Who exactly is going to buy these homes?
AI is starting to kill the high paying white-collar jobs. 6k layoffs this week alone in Invesment banking and wealth management. Intel laid of 22k a few months ago.
I expect the “official” unemployment rate to be above 8% by January 2026.