Housing Slowdown | Real Estate Market Update w/ Martin Perdomo

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The shifting sands of the real estate market are creating new dynamics for buyers, sellers, and investors alike. Home price growth across the U.S. has notably decelerated, with the median price increasing just 4.5% year-over-year for the four weeks ending April 7th—the smallest gain observed since June 2023. This cooling trend emerges from a perfect storm of market conditions: pending sales declining by 7% while new listings surge by 15%, the most substantial inventory increase in nearly three years.

What makes this moment particularly fascinating is the regional variation in market performance. My personal experience illustrates this perfectly—a beautifully renovated property in St. Petersburg has seen minimal buyer interest after four weeks on the market, while properties in northern regions continue selling rapidly. This disparity highlights how Florida's market, which experienced dramatic price escalation and development in recent years, is now undergoing a more pronounced adjustment phase compared to other regions.

Mortgage rates hovering around 6.8% continue to dampen buyer enthusiasm, resulting in fewer bidding wars and multiple-offer situations. Yet this cooling isn't a crash—it's a recalibration that creates strategic opportunities for those willing to analyze local conditions carefully. The growing inventory, while still historically tight, signals that sellers are warming up to the market again, possibly responding to rate stability. For buyers and investors who've been waiting on the sidelines, this evolving landscape offers a chance to enter with less competition and potentially more negotiating leverage than we've seen in years.

Want to see how I'm navigating these market conditions in real time? Join me in Tampa on April 23rd for an exclusive property walkthrough and investment discussion. Reserve your spot at wealthyafai/events and discover how to capitalize on today's evolving market conditions.

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Episode Transcript

Speaker 1 (00:02):
Welcome back to this week's real estate market update
.
Today we're diving into recenttrends shaping the real estate
landscape.
Heads up listeners.
An announcement is on the waythat could shift your financial
game entirely.
Stay tuned.
According to the latest Redfinhousing market update, the rapid

(00:22):
climb in US home prices arefinally starting to slow down.
Price growth is losing itssteam, and fast.
For four weeks ending April 7th, the median US home price
increased just 4.5%year-over-year, the smallest

(00:43):
gain since June of 2023.
Now, that's still growth.
But there's a twist Pendinghome sales are declining and new
listings are rising.
Together, that combination iseasing the pressure on buyers
and, in turn, slowing down priceacceleration.
New listings are up 15% yearover year.

(01:04):
That's the biggest increase innearly three years.
While that might sound like aflood of inventory, the market
is still historically tight, butit does signal that sellers are
finally warming up again,possibly responding to recent
rate stability.
On the flip side, pending salesdropped 7% from this time last

(01:26):
year, likely due to highmortgage rates, which are
hovering around 6.8% on a30-year fix.
So, even though more homes arehitting the market, many buyers
are still being cautious.
All of this is cooling offbidding wars and tempering

(01:46):
competitions.
According to Redfin agents,we're seeing fewer situations
where homes get multiple offersabove asking a stark contrast to
the frenzy of recent years.
Before we continue, have youever wondered what it actually
looks like to build wealththrough smart real estate

(02:08):
investing?
Well, on Tuesday, april 23rd,you'll get the chance to find
out in person In Tampa, florida.
Join us from 1 to 4 pm,starting at El Diamante
Restaurant in Tampa, whereyou'll enjoy a great meal and
powerful conversation withfellow investors, professionals
and industry leaders.
Then we're heading over to myNorth Hubert Street project for

(02:32):
an exclusive on-site propertywalkthrough.
This is where strategy meetsreality.
You'll get a firsthand look athow I evaluate deals, run the
numbers and scale a real estateportfolio in real time.
If you're ready to learn bydoing and seeing it live, grab
your seat now at wealthyafaiforward slash events.

(02:54):
That's wealthyafai forwardslash events.
Now back to your real estatemarket update.
Looking ahead, all eyes are onthe feds, interest rate
decisions and inflation reports.
While rate cuts were widelyexpected earlier this year, some

(03:14):
recent inflation data hascomplicated that outlook.
If mortgage rates stay high, itcould continue to limit buyer
activity, but the growinginventory might offer a bit of
balance.
Inventory might offer a bit ofbalance.
Bottom line the housing marketisn't crashing.
It's cooling, recalibrating,and if you're a buyer or

(03:39):
investor, this might be thewindow to get strategic instead
of scrambling.
I can speak about this in realtime as I currently have a
property, a flip, in St Pete andand in four weeks it's
beautifully done.
In four weeks you won't believethis stage beautifully.
Everything's done under 300,000.

(04:01):
Four weeks, one showing and themarket is cold, especially in
the Tampa and the Florida market.
Now, that has been myexperience right now, as we are
not seeing a lot of buyeractivity.
So this does make sense.
We are seeing a cooling in themarket in some areas.

(04:23):
Again, this is market to marketdependent.
At least I can speak for what Ihave in Florida.
The properties I have up northare performing a little bit
different.
I have some properties that Iput on the market and those
properties are selling quiterapidly.
But down south, with all of theover development that occurred

(04:45):
here and how prices were pushedso hard and so fast here in the
market, it's a little bitdifferent.
That's a wrap in this week'sreal estate market update.
If you found this helpful, besure you share it with your
network and tune in next timefor more insights on our latest

(05:06):
market trends.
And remember, if you want toget ahead of the market, grab
your ticket for our upcomingevent before they're all gone at
wellbafai forward slash events.
Thanks for listening.
I'll see you next time.
Peace out.