999: BiggerNews: The Market Bets on Mortgage Rates Falling, More Homes for Sale w/Realtor.com's Ralph McLaughlin

BiggerPockets Real Estate Podcast

BiggerPockets

Education, Investing, Business

4.8 • 16.6K Ratings

🗓️ 2 August 2024

⏱️ 41 minutes

🔗️ Recording | iTunes | RSS

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Summary

Mortgage rates are set to fall this year and well into 2025, all while housing inventory steadily increases. We’re in the best housing inventory position since before the pandemic, so the question is: what happens next? Rising inventory could result in more homes on the market and, in theory, less competition, so lower prices. But, with rates coming down, home prices might go back up with more borrowers entering the market. We’ve got a lot of questions, but thankfully, Senior Economist at Realtor.com Ralph McLaughlin has the answers. Ralph doesn’t just study the housing market; he actively participates in it as an investor. He’s on this BiggerNews episode to discuss the state of mortgage rates, when we should expect them to start falling, home price updates, housing inventory, and opportunities for investors that most homebuyers will miss. We’ll discuss the real estate markets with the most and least housing inventory, why price cuts are rising, but home prices aren’t falling, the best markets for investors to take advantage of during the rate-to-price “delay,” and which homes are selling the fastest. If you want to get ahead of the curve and take advantage of hot markets with opportunities that (probably) won’t last, now is the time! In This Episode We Cover Mortgage rate predictions and when we could see 2024’s first rate cut Housing inventory’s huge comeback and why prices aren’t falling Real estate markets seeing the most/least amount of homes for sale The rise in seller price cuts, but why this ISN’T leading to lower home prices Hot markets with HUGE opportunities that investors must take advantage of before rates fall And So Much More! (00:00) Intro (01:19) Lower Mortgage Rates On the Way (06:21) Inventory Hits Recent High (13:28) Markets with Most/Least Inventory (15:53) Price Cuts Rise, But… (17:33) Best Markets for Investors (20:52) Which Homes Are Selling? (23:04) Little Houses, Big Demand? (26:25) What Investors MUST Know Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/real-estate-999 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Is there more good news on mortgage rates coming?
0:03.0	What does the housing market data mean for buyers these days?
0:07.0	Today we get to ask a seasoned economist about the housing market's biggest questions. What's going on everybody?
0:17.0	I'm Henry Washington and welcome to bigger news.
0:21.0	Dave Meyer is out on vacation still so I'm bringing in my great
0:25.2	friend Kathy Fetky from the BiggerPockets on the market podcast to hang out with me.
0:29.6	Kathy what's out? I'm so happy to be here and I'm excited for today's show. I'm sad
0:34.6	that Dave can't be here to help us break down this real estate news but we have got
0:38.2	such a great guest now probably my favorite economist who's going to just help us understand what's going
0:44.8	on out there. Yeah we get to get a little nerdy without Dave it seems a little
0:48.3	wrong but we're gonna we're gonna give it our best shot. We are talking with Ralph McLaughlin. He is a senior economist at realtor.com.
0:55.6	Ralph is going to walk us through the latest data on the housing market, including the state of
1:00.2	mortgage rates and what we should expect of them in the future. We'll talk inventory
1:05.0	trends and how they relate to prices. And we'll talk about what markets were seeing
1:10.3	more inventory in or what markets were seeing a little less inventory in and what he
1:14.8	expects for the housing market for the rest of 2024.
1:18.1	Well my goodness let's dive in.
1:19.7	Mr Ralph McLaughlin, welcome to the show.
1:22.3	Thanks for having me on. I'm an, welcome to the show. Thanks for having me on.
1:23.4	I'm an avid listener of the podcast, so it's a real pleasure to be here.
1:26.2	Oh, man, thank you very much, and thank you for supporting the show.
1:29.8	So before we jump in, can you tell us a little bit about what type of economics reporting you
	...

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