11,000 US Homes Sold Each Day
11,000 US Homes Sold Each Day
Full Video Transcript Below
11,000 Homes Sell Each Day
Alice Lema: [00:00:00] Well, Hey, real estate fans, welcome back to another edition of the weekly podcast. It's going to be a great topic. We're going to talk about the 4. 16 million homes that are due to be sold in 2023 nationally. That works out to be 11, 000 a day national home sales and what that means to Southern Oregon.
And we're going to dive down deep into our counties, because we have some amazing surprises. So it's going to be great before we get started. I do want to say thank you so much to all of our supporters. Thank you to you. Thank you to the YouTube subscribers, because guess what? Last week we got picked up the podcast got picked up by the Amazon podcast platform, so I can't believe it. Our little podcast is going on the Amazon platform starting this week. So yay for us. Thank you. Thank you all. And thank you to my team for doing all this stuff every week on top of their regular jobs. Okay, well, let's get to the 11, 000 home sales a day [00:01:00] and what that means to us in Southern Oregon.
So if, if you've got 4 million homes a year due to be sold predicted in the nation, that is a little over 11, 000 homes a day, but it's also 475 homes an hour. Sounds like a speed limit, huh? 475 homes an hour nationally and eight houses a minute.
But Southern Oregon has its own set of numbers, and I want to start with Klamath County. Klamath County in 2022 sold 640 residential homes. That's 1. 75 a day. But here we are in 2023, they've already sold in Klamath County 429 houses. That's 1. 83 average. So we're already beating last year. So yay for Klamath County. It's, it's great to see a little bit of an uptick, but we've been watching these spikes every week in the market statistics video.
But I do want to not to rain on anybody's parade, but I want to put it in perspective because 2019 was kind of our last, like, pseudo normal [00:02:00] year. And in 2019, Klamath County sold almost 1000 houses. They sold 999 in 2019. That's 2. 73 houses a day. Thanks. So we're still down from that. We still need more listings. We still need more buyers to pull the trigger in Klamath County, but congratulations for the uptick and we'll watch it and report back how we're doing on that.
Now, Josephine County in 2022 sold about two houses a day. So 2022, Josephine County sold 756 homes. That's about two a day. But 2023, we're on track already for 2. 25 a day in Josephine County. So 2023, we've already sold 526 houses in Josephine County. So again, another little uptick. So exciting, so exciting. Congratulations. Josephine County. Let's see if we can keep it up. But again, not to throw cold water on it. But in 2019, Josephine County sold 1204 and that's 3. 3 houses a day. [00:03:00] So we're at 2. 25. We used to be at 3. 3 in Josephine County. Let's see how it plays out, but I'm super happy to see an uptick.
Now Jackson County has some really interesting numbers. Jackson County is averaging about six sales a day. 2022 that was 2, 208 sales. So that's 6. 04 a day. 2023 we're already on track for 6. 12 houses a day. 2023, we've already sold 1, 434 homes. So a little bit of an uptick in Jackson County as well. It's been a long time since we've had the same direction of all three counties on the same item that we're watching at the same time. It's just, we've been waiting for this. This is one of those moments. Again, it gives some validity, validity to my prediction that we've bottomed out this summer. And we do have some national experts that are [00:04:00] saying that they think we've bottomed also. But it's such a weird world out there.
And the federal reserve bank is raising rates again. Couldn't you just like, ah, but in the meantime, we're absorbing as a market here locally, we're absorbing all those changes. We still are very much short of listings. We still have more buyers than sellers. The buyers are a little hesitant to pull the trigger.
And I got to warn people, the prices are not going to go up a lot, but they're going to start going up a little bit. So if you're selling, you're waiting for a complete market turnaround. Want to remind you average markets are nine to 11 years. If you can wait that long, go for it. We don't know what it'll be like, but it's your prerogative.
But in the meantime, if you want to move and you're selling and you're, and you're not getting offers, lower your price. Fix the house, fix what you can if you're getting that kind of feedback. If you're buying, I say, don't wait and certainly don't drag your feet too much because this little [00:05:00] price bottoming that we're experiencing, I don't think it's going to last long.
And I don't know what the prices again, I don't know what the prices are going to go up a lot. But if they hold on to these high interest rates, especially in the 8% you're definitely not going to want to experience price increases on top of that. Okay, so, to finish up and just kind of do some area, some area totals of all 3 counties.
So the 2022 area average last year we sold about 9. 9 homes a day. 2022 we sold 3, 604 homes. So that averages to 9. 9 a day. 2023 we're already on track selling 10. 21 homes a day. So 2023 All counties combined all three counties, we've already sold 2, 389 homes. So that's 10. 21. So we're already beating last year.
But again 2019, which is kind of our benchmark these days. We were selling 15. 42 homes a day in Southern [00:06:00] Oregon. So 2019, we sold 5, 627 homes. That's a far cry from where we are. But again, sellers, get your house on the market. Price it in the middle of your neighborhood. Maybe upper middle, don't go way to the top.
I know everybody's house is great. I get it. But the idea is to get it sold and move on to the next step of your life. And buyers don't wait around. We certainly don't want to add even 1 or 2% price increase to your already burdensome monthly payment with the new interest rates. So just go out there and get it done.
And remember Southern Oregon on average, even in a bad year, not the worst year in history, but in in kind of a low appreciation here, Southern Oregon still does 3 to 6% on average appreciation. We are a destination location. The lifestyle we have is amazing and we still have enough urban [00:07:00] support and urban services like the international airport, the 2 amazing hospitals, great schools, you know, et cetera, et cetera. And then we've got all this open space in rural property. So we're still a destination location. We still have an amazing life. So that's why people want to live here. It's why people don't usually move away unless they have to.
But yeah, so I look for some appreciation, even in this weird year. It might be slow appreciation, but we're looking for a bump up. And then, you know, just every year after that, a little bit, unless we have a great economy and then it'll be a lot. So I say don't wait, don't wait to sell, don't wait to buy. And I'm not saying that as an agent, I'm saying this as an older person who has benefited in the past from appreciation and also looking for the future appreciation for everybody.
Wealth building is an amazing thing. Okay. So there's my soapbox for the day. I want to be your agent. I want you to call me. I want you to text me [00:08:00] 541 301 7980. I want to help you move whether you're upsizing, downsizing, getting rentals, getting more rentals. If you want to get some riverfront or rural property you're looking at apartment buildings, you're Very first time, maybe you're a tenant and you want to dip your toe in the homeownership waters, call me, text me. I can help. I'm a great listing agent, a great buyer's agent and watch our podcasts on Amazon. We'd love for them to know that they made a good choice. So thank you all have a beautiful week. We'll see you next time. Hug those you love. Bye now.