When will it be a buyer's market again in the northeast? (investment, sale)

[Abby Schmitters]

Can't find many optimistic projections. I'd think eventually as word spreads what a seller's market it is, that so many people will put their house up for sale to get a piece of the action, and soon it will tip the market back into a buyer's market. But economics was never my strong subject

[MikeJaquish]

When foreign investment money dries up.

And, no one can tell you, other than speculate.

[jaynarie]

Originally Posted by MikeJaquish

And, no one can tell you, other than speculate.

I can. I have a crystal ball. April 14, 2019.

[2bindenver]

When the for sale inventory reaches 6+ months for Days on Market.

[FalconheadWest]

My crystal ball is foggy with no clear outcome. Each for their own...

[ocngypz]

It depends.

I'm looking in one community where at the lower price points and in great condition it's a seller's market.

Go above $700K.... it's a buyer's market.

[BoBromhal]

Originally Posted by Abby Schmitters

Can't find many optimistic projections. I'd think eventually as word spreads what a seller's market it is, that so many people will put their house up for sale to get a piece of the action, and soon it will tip the market back into a buyer's market. But economics was never my strong subject

"the northeast" is also a very large, non-homogenous area. The NYC market will never be the same as upstate NY.

The best you can do is go either to Case-Shiller for your particular locale, or even easier, go to Zillow for the city or zip code where you want to buy. look at values from 2006 to 2010 and then to now. How much did they dip in 2010? There some places that have been fairly recession-proof over the last 30 years (Washington DC for example)

the statistical answer - which has been given - is that 6 months of inventory, or average days on market of 180, has long-been posited as the line between seller's and buyers market.

[davebarnes]

28 minutes after North Korea nukes Guam.

[Abby Schmitters]

Originally Posted by ocngypz

Go above $700K.... it's a buyer's market.

Darn. I'm almost 100K short

[WoodyWW]

Originally Posted by davebarnes

28 minutes after North Korea nukes Guam.

Or: 28 minutes after The Donald bombs North Korea, setting off another horrible Korean War. There's reporting that his "base" would love it......