We Asked Brokers: Where Is the Biggest Buyer's Market Today?

I'm going to kind of kick this off with the West Coast and the Northwest, because I can tell you right now, if you're a seller, it's not that enjoyable.

We're seeing a lot more inventory.

I personally have now 14 homes that just hit market.

And typically I sell out about 60% at a time.

I'll keep pending.

And right now I have about 15% pending.

We're not seeing a lot of bodies come through.

Where the bodies were coming through the last six months, but it has slowly, slowly been dropping exponentially.

And the numbers are kind of speaking for themselves right now.

Seattle's inventory is up 27.3% and price cuts are averaging around 4.6%.

So we're seeing a big shift in what's going on, especially if you're a flipper, because what that's saying is we're coming about 5% off what we thought our performing numbers were working.

And it's taking a lot longer to sell with all this active inventory coming in.

And so like part of this whole game is, you know, there's seasons and different timing going on, but we're definitely seeing inventory increase as houses are coming on and buying demand has dropped.

And so I want to dig in really quickly to what's going on in your market and then what you guys are doing to kind of pivot around this.

Because I know in Seattle, we have to kind of stay in front of it because if you sit there and you wait for the price, You're going to wait for way too long.

The debt's going to eat up your deal.

And you have to kind of shift down and just cut price and move it on.

On the upside, though, we're buying deals at least 15% cheaper than we were buying them nine months ago.

And so if I was paying $500,000 for a house, we're finding these in the low 400s now.

And there's been a big shift in what we can buy.

Even though we have the most homes for sale, the most money out right now, we're buying more homes than we were even four to five months ago.

I think the name of the game is you got to get rid of your bad inventory and load up with good inventory and get things moving, but it's not that easy because price cuts aren't solving the problem here.

We'll do a price cut and we don't see any more bodies come through.

And so it's really about getting to the right price point and getting things moving to get the activity and then really working the sales on the phone.

I have gone from really focusing on investing to I'm a broker on the phone, working phones, dragging in offers, working deals, and that seems to get it pending.