My New Blog

February 10th, 2022 12:50 PM
It is not contrary to popular opinion, conditions for buying a home are terrible on the North Fork, South Fork, Riverhead and Shelter Island. We are dealing with the most significant house demographic patch ever recorded on the east end with Move-Up Buyers/ Move-Down Buyers with lots of cash/ Investors/ and All-cash Buyers. 
You can understand why home buyers are stressed with prices increasing so quickly.
How can this change? Unlike stocks, houses will unlikely drop 15-20% after a bad earnings report. Housing isn't just an investment, it is the purchase of shelter.  Mortgage rates will have to climb perhaps 2+/-%. This will generate more days on the market(DOM) and more of a competitive market or housing prices will become to expensive and natural inflation will affect residential prices and demand. 

Posted by Richard Wayne Abatelli on February 10th, 2022 12:50 PMLeave a Comment

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