Three Reasons Why Now is a Good Time to Buy or Sell
Three Reasons Why Now is a Good Time to Buy or Sell
Full Video Transcript Below
3 Reasons Why Right Now Is A Good Time To Buy, Sell or Both!
Alice Lema: [00:00:00] Hey, real estate fans, Alice Lema here, broker John L Scott, beautiful Southern Oregon with another edition of The Weekly podcast. Today, I'm gonna give you three reasons why I think this is absolutely great time to either buy a house or sell a house or do both, and it's not a real popular opinion right now.
So give me a couple minutes. I wanna show you these three ideas and then see what you think. Okay? Okay. Before we do that, let's give you a quick second to subscribe to the channel. Give us a, like, we also have a great newsletter now that goes out every week. It's short to the point, very informative, entertaining. You can sign up for that down in the link below or you could reach out to me. You can text or call. You can also text or call if you need to talk about real estate in your life. Numbers 541-301-7980 and the yeah, or you can just subscribe to the newsletter below. Okay. So let's get on with our podcast.
Three reasons why this is actually a great time to buy a house, [00:01:00] to sell a house, or to do both. And here's number one reason. The jobs report this week was way better than anybody was expecting. And I wanna show you a chart from the National Association of Realtors that they put up, which you can see going into November, 2022.
Our jobs are as strong as they were back in right before the shutdown. So you can see there's a little dip before that and then it's getting to be just about normal. So that's number one. And the reason I'm showing that first is because wages and income are what fuel home buying. The motivation is life changes usually or life desires. But the money comes from your job, your investments, your retirement fund, but it comes from somewhere. It comes from income somewhere. So that's number one is the jobs look good and we can't [00:02:00] argue with that. So there's number one.
Number two is the interest rates. I know they keep going up and down. I know it can make you nauseous, there's so much volatility. But check this out. This is from Freddie Mac, and you can see that they're going down. They're not going down a lot, but they're lower than they were and I. I believe that's $140 or so a month. Of course, it depends on how big of a loan and you blah, blah, blah. But there's a chunk of money that's freed up now just because interest rates dropped a little bit. So that's number two. The the interest rate is on it's way down. And that's helping people with their payments.
Number three, the days on market. This is something we talk about every week, and I wanna show you this is another chart from [00:03:00] this is from the St. Louis federal Reserve. And this chart shows you our days on market are going up and they're up by quite a bit. But you can see that we're still under the 60, 60 day mark and we've been talking about how our local market is cycling in like the six to eight week section trying to move on a little bit. But it's, it's been kind of cycling in that two month spot for a while now.
And now you look and see that nationally we're right on track and the days on market have a lot of room to go up. A normal market is four to six months, 120 days, 160 days. And you can see that we're still, we're still cycling in the two to three month working our way up to three months.
So, When you look at all that, it makes me think we're gonna have a stronger 2023 [00:04:00] than we realize. It also makes me think that we're still gonna have inventory problems. So why, why buy and sell right now? A, we know the market. B, there's still plenty of buyers out there, and they really want a house now the rates have dipped down. They're ready to go. They'll write good offers. There's enough houses on the market now. You have choices. That's the other thing that the lack of supply was holding people back. There's been a lot of people out there that would've put their house on the market if they could have had a house to go to.
And I still have a list actually of buyers. The real specific house comes on the market. They'll buy it, they'll sell theirs. So yeah, when you put all those together, strong job market, still low days on market and the interest rates are dipping, I think that's a lot of positive. And we get a whole bunch of positive right now because well, there's just a lot going on in the world and it's not all good, [00:05:00] but housing wise, I think I think we're gonna be okay and buying and selling right now might be the thing to do.
Okay, so that's our podcast for today. If you'd like to talk about your real estate needs you can reach me 541-301-7980. You can also subscribe to our newsletter and we have a new Google Business page so you can jump on that. You can see some pictures. You can leave a, a. Yeah, so just lots, lots of changes coming for 2023 in our own real estate world here.
And glad to have you with us. So let me know if there's anything I can do to help. Otherwise, have a beautiful weekend. Hug those you love, and we'll see you next week bye now.