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Prices Fall The Furthest They Have In Decades!

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  1. From the first 1:16 video:

    Collin County Housing Market Stats – December 2022
    Kelli Clark
    Jan 8, 2023
    This month’s market stats are from Dec 2021-Dec 2022 so we can see the big picture of what the year looked like. I know I have had a lot of sellers concerned about depreciation over the last several months after seeing the shift in the market. The good news is that year over year we still saw a median percentage increase of 6.5%. One thing to note here is if you notice from Jan-May we saw a big jump in sales price. It hit it’s peak in May when the rise in interest rates and sales price greatly affected home affordability. We then started to see a deceleration in the market. But, if you notice in Dec, we start to see it leveling off. This is suggesting that we indeed are just seeing a price correction and that may be a sign that prices will not dip too much more. We will be watching this over the next couple months to see what happens!

    Yes the days on market have increased but 7 days was not normal. We are now closer back to what a balanced market looks like for the days on market. Though I have still been seeing homes sell in less than that if they are priced right!

    The amount of inventory is the big story here as we are finally catching up. We are still under what we were prior to COVID but it’s nice to see more homes for sale. But what that also means is as a seller, there is more competition. You definitely need to be more strategic to avoid having your home sit on the market for a long time.

    For those trying to time the market, keep in mind that when interest rates go down, prices will go back up. There are a lot of buyers on the sidelines right now just waiting for that “perfect” window to jump back in. If you find a home you love, don’t wait. There are many opportunities out there that have not been available the past couple of years, such as seller concessions and builder incentives to help buy down the interest rate!

    The second 8:28 video:

    Could Sweden’s Housing Crisis Spread Across Europe?
    TLDR News EU
    Jan 9, 2023
    Sweden’s housing bubble is bursting. That’s bad news for Swedes but it could lead to a cascade of housing collapses across Europe. So in this video we’ll unpack what all of this means for Europe and how the continent will react to a change in housing.

    The third 7 minute video:

    Real Estate Market Crash ? Prices are Down 24%! Brantford Ontario
    Jan 8, 2023
    Prices fall the furthest they have in decades! Is this the bottom or is it just the start ? In this video we’ll go over the latest Real Estate Market Numbers for Brantford Ontario January 2023 and what they mean for both Buyers and Sellers.
    0:00 – Prices are down 24%!
    1:22 – Average days on the Market
    2:13 – Inflation in Canada December 2022
    3:57 – What does this mean for Sellers
    5:09 – What does this mean for Buyers

    The fourth 8:17 video:

    Kitchener / Waterloo Real Estate Update: Slowest December In 10 Years
    Honest real estate talk
    Jan 9, 2023
    Kitchener, Waterloo and Cambridge real estate update from 2 different Boards. See prices of homes in Waterloo, Kitchener and surrounding areas. Condos, semi detached homes and detached home prices over 3 years. Compare apples to apples – December to December.

    Th fifth 8 minute video:

    Prices and Sales Volumes Are Down | Ottawa Real Estate Market Update
    Roch St-Georges
    Premiered Jan 8, 2023
    Looking at numbers month over month (November to December). The average price of freehold residential units are down 4.8% while the average price of a condo unit is up 6% month over month.

    Ottawa property prices have dropped an average of 3% per month since they saw a peak in March of 2022.

    December 2022 numbers show us that mobiles homes and duplex properties increase significantly when compared to a year ago.

    In this 2022 Ottawa Real Estate Market recap video I cover real estate market stats for both condos and freehold residential properties in our City as well as figures for the rental Ottawa real estate market.

    The sixth 5:38 video:

    London Ontario Real Estate Market Update – December 2022: Prices DOWN Across the Board
    Mark Mitchell – Mortgage Broker London Ontario
    Jan 9, 2023 LONDON
    London’s real estate market fell again in December, with the Benchmark, Average and Median prices all down from November, and the average price dropping over $232,000 since the peak last February.

    Benchmark Price of a Home in London:

    November Benchmark – 575,500
    December Benchmark – 566,600

    Average Price of a Home in London:

    November Average Price – $611,643
    December Average Price – $591,526

    Median Price of a Home in London:

    November Median Price – $577,500
    December Median Price – $561,500
    Sales to List Price Ratio – Over Asking Pricing:

    London November Sales to List Price– 96.5
    London December Sales to List Price– 96.4

    Months of Inventory:

    London November 2022 MOI – 2.8
    London December 2022 MOI – 3.3

  2. Goldman Sachs Group will start cutting thousands of jobs across the firm from Wednesday, two sources familiar with the move said, as it prepares for a tough economic environment.

    Just over 3,000 employees will be let go, one of the sources said, but the final number is yet to be determined. That scale of layoffs would be the largest since the 2008 financial crisis, one of the sources said.

  3. Brisbane builder LDC goes into voluntary administration
    The Australian|14 minutes ago
    The first Queensland builder in 2023 has collapsed, owing creditors more than $7m and leaving almost 50 uncompleted projects across the state’s south east.

    New Apartment Demand ‘All But Evaporated’|21 hours ago
    We’ve never before seen a period like this – weak demand for all types of housing despite robust job growth and sizable wage gains,” RealPage Chief Economist Jay Parsons said. “It wasn’t just apartment demand that shot up in 2021 and plunged in 2022.

  4. Rocket restructures marketing team, imposes layoffs
    HousingWire|18 hours ago
    Rocket Central, the professional services company under the Rocket Companies umbrella, has restructured its marketing team, resulting in about 20 layoffs.

    North American Savings Bank to shut down consumer direct division
    HousingWire|13 hours ago
    North American Savings Bank (NASB) announced the shut down decision, which includes layoffs, to employees on Friday, citing market conditions.

  5. 𝗔𝗻𝗻𝗮𝗻𝗱𝗮𝗹𝗲, 𝗩𝗔 𝗛𝗼𝘂𝘀𝗶𝗻𝗴 𝗣𝗿𝗶𝗰𝗲𝘀 𝗖𝗿𝗮𝘁𝗲𝗿 𝟮𝟳% 𝗬𝗢𝗬 𝗔𝘀 𝗡𝗼𝗿𝘁𝗵𝗲𝗿𝗻 𝗩𝗶𝗿𝗴𝗶𝗻𝗶𝗮 𝗛𝗼𝘂𝘀𝗶𝗻𝗴 𝗠𝗮𝗿𝗸𝗲𝘁 𝗥𝗼𝘁𝘀 𝗢𝗻 𝗧𝗵𝗲 𝗩𝗶𝗻𝗲.

    𝘈𝘴 𝘰𝘯𝘦 𝘋𝘊 𝘣𝘳𝘰𝘬𝘦𝘳 𝘭𝘢𝘶𝘨𝘩𝘦𝘥, “𝘚𝘦𝘭𝘭𝘦𝘳𝘴 𝘢𝘯𝘥 𝘩𝘰𝘮𝘦𝘰𝘸𝘯𝘦𝘳𝘴 𝘢𝘳𝘦 𝘴𝘵𝘢𝘮𝘱𝘪𝘯𝘨 𝘵𝘩𝘦𝘪𝘳 𝘧𝘦𝘦𝘵 𝘸𝘪𝘵𝘩 𝘳𝘢𝘨𝘦 𝘰𝘷𝘦𝘳 𝘧𝘢𝘭𝘭𝘪𝘯𝘨 𝘩𝘰𝘶𝘴𝘪𝘯𝘨 𝘱𝘳𝘪𝘤𝘦𝘴.”

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