Buyer boldness upswing- Boom!

[Chad McMahan]

Last week and this week, I've been seeing a significant upswing in buyer activity, which is reducing inventory. My listings have all gone into contract and my buyers have almost all pounced on high cash flow STR (short term rental) opportunities. Are other realtors and investors feeling this as well?

I expect this to be temporary, but it's nice to see it. I forecast another downturn of 10-15%, stabilization, and then a dramatic appreciation and boom of activity.

[Jeremy H.]

There's a few locations I've been looking at - seems to me inventory is still increasing and price drops are still happening - but the prices are still not at the level they need to be for me to invest. I think we have some sellers still thinking it's 2021 and want to price their STRs at 2021 prices/travel rates. This is not realistic - and I only buy great deals. I think we're getting closer but we're not quite there yet - I've noticed roughly a 10% drop from peak 2021/early 2022 levels