How to Get Rich in the Slowest Housing Market in 11 YEARS

The US housing market is off to its slowest start in ELEVEN YEARS. This is not just a post-covid new normal. This is different.?

First, let’s remind ourselves of what we’ve gone through since 2020:?

Once the majority realized Covid-19 was NOT on the bottom of everyone’s shoes and the handles of shopping carts, the market soared. Over 500,000 homes were sold in June of 2020 alone, followed by another 600,000 in July, shattering every previous record. 2021 was even crazier – the US sold more homes in June of that year than any previous month in history! And even though sales cooled off in winter, December was still cruising, with 100,000 more homes sold than any year from 2012-2020.

But then, 2022 snuck up on us. In a way, we saw this coming. What did we expect to happen? Anyone who was going to buy, did buy. Like a Black Friday sale. So when we hit the brakes in April with the rapid rise of interest rates and the public realization that inflation was, in fact, here and very real, sales never picked up again. The end of 2022 was the lowest December for home sales in over a decade.

Now, it's 2023, and we're off to our weakest start in ELEVEN YEARS. With just 225,000 home sales in January and 275,000 in February, it feels like everything's moving in slow motion, like a car driving in a downpour on a dark, slick road. Interest rates are rising, regional banks are failing, and the stock market has been swinging like a see-saw. Homeowners and agents are petrified. If we make one wrong turn, we could skid out, crash, and burn. But if we stay cautious and optimistic, who knows? Maybe – just maybe – it stops raining and we come out unscathed.

Whichever happens, there’s a silver lining: NO ONE knows the future, and EVERYONE will feel the same pain and fear. That uncertainty is your advantage.

The Silver Lining

While the market teeters between raging downpour and bright blue skies, everyone is playing the WAITING game. Even Jeff Bezos told people to not buy TVs! The consumer confidence contagion of hesitation is your opportunity. Here are three ways to take advantage of their inaction:

1. Keep calm and stay flexible: In a slow market, you have to adapt. These are the markets we pray for! Sellers, stay on top of your prices. Agents, get creative with your marketing and lead gen to attract new buyers. Just because less people are buying doesn’t mean no one is, right? The market might be moving at a snail’s pace today, but it won’t forever. This is a perfect opportunity to prepare for the inevitable rush, when it comes.
2. Make your home shine: Use the slow market to your advantage. Make the most of your time by painting your house, sprucing up your yard, and retiling your bathrooms. Create a home so welcoming that people would be crazy to pass it up. Can’t afford to move? Get that renovation going.
3. Prepare for the summer rush: Like the weather, the market usually heats up in summer. So, sellers and agents, get your homes ready for the summer wave! Chat pricing, interest rates, and design trends so you’re ready when everyone else is.

This slowdown could be the best thing to ever happen to you, but you have to approach it correctly. Turn off CNBC and stay calm, flexible, and creative. Keep an eye on the ever-evolving market. And, most importantly, don’t lose hope. This could be the opportunity you’ve been waiting for.