Housing Slowdown | Real Estate Market Update w/ Martin Perdomo

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.

Chapters

• 0:00 Market Update Introduction
• 0:19 Home Price Growth Slowdown
• 1:00 New Listings & Pending Sales
• 2:00 Tampa Event Announcement
• 3:00 Future Outlook & Personal Experience
• 4:54 Episode Wrap-up

Transcript

Speaker 1: 0:02

Welcome back to this week's real estate market update. Today we're diving into recent trends shaping the real estate landscape. Heads up listeners. An announcement is on the way that could shift your financial game entirely. Stay tuned.

Speaker 1: 0:19

According to the latest Redfin housing market update, the rapid climb in US home prices are finally starting to slow down. Price growth is losing its steam, and fast. For four weeks ending April 7th, the median US home price increased just 4.5% year-over-year, the smallest gain since June of 2023. Now, that's still growth. But there's a twist Pending home sales are declining and new listings are rising. Together, that combination is easing the pressure on buyers and, in turn, slowing down price acceleration. New listings are up 15% year over year. That's the biggest increase in nearly three years. While that might sound like a flood of inventory, the market is still historically tight, but it does signal that sellers are finally warming up again, possibly responding to recent rate stability. On the flip side, pending sales dropped 7% from this time last year, likely due to high mortgage rates, which are hovering around 6.8% on a 30-year fix. So, even though more homes are hitting the market, many buyers are still being cautious. All of this is cooling off bidding wars and tempering competitions. According to Redfin agents, we're seeing fewer situations where homes get multiple offers above asking a stark contrast to the frenzy of recent years.

Speaker 1: 2:00

Before we continue, have you ever wondered what it actually looks like to build wealth through smart real estate 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, where you'll enjoy a great meal and powerful conversation with fellow investors, professionals and industry leaders. Then we're heading over to my North Hubert Street project for an exclusive on-site property walkthrough. This is where strategy meets reality. You'll get a firsthand look at how I evaluate deals, run the numbers and scale a real estate portfolio in real time. If you're ready to learn by doing and seeing it live, grab your seat now at wealthyafai forward slash events. That's wealthyafai forward slash events.

Speaker 1: 3:00

Now back to your real estate market update. Looking ahead, all eyes are on the feds, interest rate decisions and inflation reports. While rate cuts were widely expected earlier this year, some recent inflation data has complicated that outlook. If mortgage rates stay high, it could continue to limit buyer activity, but the growing inventory might offer a bit of balance. Inventory might offer a bit of balance. Bottom line the housing market isn't crashing. It's cooling, recalibrating, and if you're a buyer or investor, this might be the window to get strategic instead of scrambling.

Speaker 1: 3:42

I can speak about this in real time as I currently have a property, a flip, in St Pete and and in four weeks it's beautifully done. In four weeks you won't believe this stage beautifully. Everything's done under 300,000. Four weeks, one showing and the market is cold, especially in the Tampa and the Florida market. Now, that has been my experience right now, as we are not seeing a lot of buyer activity. So this does make sense.

Speaker 1: 4:19

We are seeing a cooling in the market in some areas. Again, this is market to market dependent. At least I can speak for what I have in Florida. The properties I have up north are performing a little bit different. I have some properties that I put on the market and those properties are selling quite rapidly. But down south, with all of the over development that occurred here and how prices were pushed so hard and so fast here in the market, it's a little bit different. That's a wrap in this week's real estate market update. If you found this helpful, be sure you share it with your network and tune in next time for more insights on our latest market trends. And remember, if you want to get ahead of the market, grab your ticket for our upcoming event before they're all gone at wellbafai forward slash events. Thanks for listening. I'll see you next time. Peace out.