Price Drops & List Reductions: What Investors Need to Know

Market Memo

Key market updates to stay ahead of the game, from data expert Rick Sharga of CJ Patrick Company, LLC .

• Demand for both new and existing homes appear to be weakening
• Foreign buyers are at lowest level in the past decade
• Mortgage rates have declined slightly, then plateaued
• Fed expected to cut rates as early as September, but rising deficits may prevent significant cuts in financing costs
• Price appreciation slowing down, turning negative in some markets
• More inventory coming to market, more list prices reductions
• Less competition opens up opportunities for real estate investors
• Slowing price increases improve potential margins for fix-and-flip investors
• Limited affordability results in more renters for buy-and-hold investors

What's New?

The newest version of the RCN Capital Investor Sentiment Survey is live! We're excited to be launching the new RCN Capital/CJ Patrick Company, LLC Investor Sentiment Index?. This is a big deal, and will provide the industry with a tool to track the pulse of real estate investors across the country and gauge market outlook. Use the Investor Sentiment Survey each season to make the right investing decisions and stay current on what's happening in the market.

Our Event Marketing Specialist, Mary Margaret Hogan shared "The Power of 'I Don't Know'" in Mortgage Women Magazine , emphasizing that acknowledging gaps in knowledge can lead to self-discovery and empowerment in the mortgage industry. She encourages embracing educational resources like publications, podcasts, and in-person conferences to advance expertise. The article highlights the importance of bravery in asking questions and continually seeking new knowledge, fostering a mindset of lifelong learning. Whether you're new to the industry or a seasoned vet, this is a great read and an important reminder!

Where To Find Us in August!

Catch us in San Diego on August 8th for the California Mortgage Expo. Our Partnerships Coordinator, Mitchell Zagrodnik , is hosting a session titled “Grow Your Business in a Changing Market with Fix & Flip and DSCR Loans” at 9:45 AM.

We'll be in Las Vegas on August 15th - 18th for OriginatorConnect. Use code RCNFREE. Don't miss Sr. Partnerships Manager, Stephen Ballard 's session on Saturday, August 17th at 9:45 AM. Maximize your success in 2024 and don’t miss this informative session!

We'll be sticking around in Las Vegas for Geraci Conferences Captivate on August 19th -20th at the beautiful Encore at Wynn. CEO Jeffrey Tesch will be moderating the "Insights from National Lenders: Navigating the State of the Market" Panel at 1:30 PM. Don't miss the Welcome Reception on the 19th, we're sponsoring!