There are way bigger things happening in the world than real estate. So this post won’t have much text. For now let’s listen to what’s happening around us and find ways to heal as a country.
Zooming into weekly videos: I was doing five to seven Zoom sessions per week for months and I’m feeling burned out, so I’ll be scaling back after an incredible ride. I’m actually still available for digital speaking gigs, but they’re mostly for associations or for hire. However, I’ve shifted things to YouTube where I’ll be doing a weekly update. Would you join me there?
More buyers than sellers? For two weeks we’ve seen more pending contracts than new listings. I think this market has surprised lots of people who expect big price declines and dullness. Subscribe to my channel.
Highlight reel:
- Sales volume is starting to increase again
- Pendings have crested pre-pandemic levels
- Listings were lackluster last week
- Canceled listings are fairly normal again
- Hold listings are getting closer to normal
- Prices have been somewhat flat lately
I hope this was interesting or helpful. Thanks for being here.
Questions: What are you learning about life right now with all the protests going on? As far as real estate, I’d love to hear your take also.
If you liked this post, subscribe by email (or RSS). Thanks for being here.
As to Zoom burn out, I am there with you. Of course as soon as I say that I signed up for Zoom to conduct some meetings, a conference call with a local broker office and I even tried a Zoom call while doing a tour of wildland fire cases. with a caravan of cars on tour (social distancing). Hmmm good idea hard to execute when you are going through canyons and mountains. Zoom not so good when bandwidth drops or cell service goes bye bye, Catch phrase of the day was “Can you hear me now” or “why can’t I see anyone”. I too am zoomed out.
As to the other world issues. Will only say if it is a peaceful protest, all for it, The other stuff, got a big problem with that. Sorry to see the message getting lost in all the stupidity. Seems like we have seen this “play” before. Be safe out there to all and hopefully Covid-19 will have a treatment or vaccine soon and the riots will go back to just protests.
As to changes in market, same thing in my neck of the woods. Listings and pending still down. Sales holding steady based on limited inventory. Called on about 20 to 25 sales for varying orders and found that over 75% have had multiple offers. Guess the Covid-19 discount went the way of the kangaroo rat, endangered species. Most bizarre market I have ever seen and that includes late 1970’s with oil embargo and interest rates at 18%. Wish I had a 30 treasury note at that rate now. Take good care Ryan and be safe.
Thank you Brad. I like how you said that about the Covid-19 discount. That is a huge expectation, but it’s unfounded. I’ve had to talk with some home owners lately about that and some have seemed a bit bent out of shape as to why the appraisal didn’t come in lower. I may write about that at some point.
Good stuff once again Ryan! I’m am (re) learning about the ingrained injustice and separation that has prevailed in our country for 400 years. In LA it seems to play out about every 25-30 years. I appraised through the Rodney King riots, my dad worked LA through the Watts riots and the MLK assassination. This time around I see a more diverse uprising-which is encouraging. The opportunists seem to emerge during these times to divert attention from the real message. As for Zoom, call me crazy but I love it. I’m in five meetings a week and have taught class via Zoom. As you know I am not a big fan o f automobile travel so I don’t mind Zooming between Huntington Beach and San Clemente with the click of a mouse. I typically prefer to travel on water. No Covid discounts in the OC. The real estate professionals that I interact with are busier than ever. Praying for peace!
Thank you Mark. I love it. Thank you for your commentary. My wife and I were just talking last night about how the narrative seems to be shifting in conversations on race. Lots of white people are standing up. I haven’t seen that in the past.
I love Zoom too. I really do. I just cannot give myself 5-7 times a week these days unless I’m being hired to do so. The danger of me saying this is I think many people will read and think I’m stepping back and non-communicative. Nope. I’m just trying to be efficient, not wear myself out emotionally, and speak to trends more than ever on YouTube. We’ll see if my plan works.
Looking forward to you weekly updates on YouTube. Who would have thought the real estate market wouldn’t need to heal two months ago?
Thanks Gary. It’s been a wild ride and fascinating to watch the market moving. What a year it’s been. So much is happening in the country right now.