Existing Home Supply Oct 2019

Sac, East Bay and Denver tied for tightest markets. SF, SJ and Seattle are not far behind. Why is Phoenix so tight? Too many people moving there?

For Austin, normally is 4-6 months, surprise that is only 2.5 months.

Looks like everywhere except Miami is a seller’s market. Miami, the capital of Latin America, is full of second homes and is dependent on foreign buyers.

Phoenix might have a quick pop. It might be a good idea to buy a new home and wait for it to build in 12 months, then flip it immediately without moving in. It’s like an option to flip stocks.

Holding and selling costs are too high. You’d risk a lot of capital for what would be a small net gain.