Ben Eisen
speaker
1,467 appearances
35 recordings
1 series
first heard Jul 2017
last heard Nov 2024
Ben Eisen’s voice in public audio — every appearance, attributed to the second.
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Appearances
People can take their time.
They can offer a reasonable price, generally not much above list price.
And it's just a generally calmer buying experience.
The people who are still buying in this housing market tend to have some common characteristics I've found.
One thing that we saw is that it's middle-of-the-road buyers who are actually in a better position to buy right now.
They're not as impacted by inflation as the lowest-end buyers, and they're not as impacted by falling stock and bond prices as the higher-end buyers.
So you actually see that segment of the housing market dropping less than the segment that's both bigger and smaller.
A lot of people obviously have been pushed out of the housing market and it is a very hard time to buy.
But for those folks who have decided, you know what, I'm going to go ahead and buy anyway, they're finding a slightly different housing market.
Well, very different from last year.
The housing market is cooler, so you don't have the bidding wars, the sight unseen purchases, people waiving some of these common safeguards that come with buying a home such as
the ability to get out of it if the mortgage falls through or the inspection doesn't come in as expected.
Instead, people can take their time.
They can offer a reasonable price, generally not much above list price.
And it's just a generally calmer buying experience, which some people have found attractive.
And a lot of people are seeing prices getting cut.
So they're actually getting the house for less than what the initial asking price was.
So one couple I spoke with, they were purchasing in the Boston suburbs.
And they basically decided that the lower price that they could get in the cooler housing market was actually more important to them than the higher interest rate that they would pay.
So that was kind of a calculation on their end.
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