Housing market slow down

Please keep in mind when watching this video that forecasting the real estate market is far different than forecasting the stock market. When you go to buy and sell stocks you can do it almost instantaneously what when you purchase real estate you usually have to go through an escrow you have to apply for a loan you have to check the title insurance have physical inspections etc. and were talking about a quick closing being 30 days average closing probably more like 45 and along closing 60 days!

Also, when forecasting a change in the real estate market, even if you’re forecast is for the entire US residential housing market, again, unlike the stock market all real estate markets are basically local. So, although calling major turning points in the real estate market will eventually affect all local neighborhoods, at the outset of these major moves, it would be very rare for all the red flags to indicate a major turning point in every local market.

Housing market slow down

But, if the forecast of a major turning point is correct eventually all the local markets will be dragged into the same trend. What we are seeing today and I have said basically the same thing in my to prior articles about calling a top for this real estate market, are leading indicators showing up in certain strong markets, that indicate a reversal is taking place!

My first post where I called the real estate market top was June 15, 2021 (https://brokerforyou.com/brokerforyou/real-estate-market-downturn/ ) just a couple of weeks ago. Then, two days later on June 17 I had a follow-up post ( https://brokerforyou.com/brokerforyou/real-estate-market-bust/ )where I added additional indicators, that to me showed that the market was in a topping phase right now! I put the links to each one of those prior post above, and would suggest if you’re interested, to reread those posts!