[MX rider]

Originally Posted by Normal

If you are looking for an exact time, you would need data in retrospect. Since we don’t have that, you need to examine the market and its tendencies. The market IS by ALL indicators still trending downward. Why buy when in essence you are losing money?

Just look at the local market here! More than 70% of homes last month were purchased BELOW ASKING. Look at The Villages new home prices, or perhaps their lot prices. View lots in Moultrie are down 40%. It’s a buyers market officially this month.

Yes, if you just want to burn money, buy. If not, it may be best to wait till the bottom hits.

Examining forces on price are the key to determining local market values: Mortgage rates, building costs, inventory, regulation, future costs including annual taxes, location and comparable comps are the tip of the iceberg. They are influenced by the more macroeconomic engines such as treasury note pricing , hourly wages, shadowed property values, local annexations and even square footage pricing on pre owned homes.

Then there is the entire demand side which is changing constantly. Inflation has made higher prices unaffordable PARTICULARLY in the Villages. The purchasing demographic are or will be forecasted to retire on a median fixed income. The number has decreased for this group significantly as indicated by employment of those once retired but now forced to work.

RETIREMENT IS THE SINGLE LARGEST FINANCIAL MOVE IN LIFE, followed by…you guessed it, BUYING a HOME.

Originally Posted by Randall55

If you already have a home, I agree. If you have not retired and are still looking, it is a different story. The developer cannot keep building if his inventory is not moving. Does this mean he will sell some of his land to other builders? If so, what will be built? Or, will he just slow the pace? If he chooses this route, commercial will suffer. You can't open a store, restaurant, or medical facility if there are not enough customers. Will construction workers be forced to leave the area? This will harm the community, as well.

Or, will home prices go down to a level that brings buyers' interest? This means one can save a wad of money and enjoy a better retirement. More money in the bank makes living the dream much easier.

I get it. What I have stated are EXTREME cases. But, with hundreds of homes and lots sitting, what can the developer do? Keep building and go deeper into the red?

For those who have not bought a home, looking at other options or waiting is probably a good idea.

I get what you're saying, and it does depend on what stage in life you're at for sure.

But you use the words "if" and "probably" a lot.
At the end of the day, the best we can do is make a decision using the best information we have at the time. The "right time" will be different for everyone.