Economist Matthew Gardner Suggests Real Estate is Returning to Normal at HomeVestors® Summit
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DALLAS--(BUSINESS WIRE)--Matthew Gardner, chief economist for Windermere Real Estate, spoke at the HomeVestors Mid-Year Summit about his outlook on the real estate market. His remarks suggested the market is returning to normal and not the dreaded downturn many have predicted. Dispelling any suggestions of a bubble, he sees real estate returning to pre-pandemic levels, which were still strong. Given the shortage of inventory, Gardner says a drop is unlikely and that instead real estate will go back to more normal growth.

Rising rates have likely pulled sales forward, and new construction increases slowed price pressures and demand for existing homes. He shared with the gathered "We Buy Ugly Houses®" franchisees that price growth is set to moderate, and the move to the suburbs driven by "work from home" culture will continue, which will help maintain first-time buyer demand. The question remains as to what first-time buyers can afford.

CEO of HomeVestors, David Hicks, added: "The part of the market that we work in, under the median, has an even greater lack of inventory. More than 80 percent of houses franchises purchase are smaller and were built before 1980, which means that by reintroducing the houses our franchises buy and rehab nationwide we are helping create a valuable supply for first-time buyers."

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The session was offered to HomeVestors' independently owned and operated franchisees who represent the largest professional house buying franchise in the U.S. With more than 125,000 houses bought since 1996, We Buy Ugly Houses not only experiences market shifts firsthand, but also often helps steer those shifts through the buying and selling franchises do in over 176 markets.

America's #1 Home Buyer, HomeVestors prides itself on buying homes that traditional buyers generally do not consider, which are improved and reintroduced as valuable real estate assets, helping maintain an affordable housing supply.

About HomeVestors® of America, Inc.

Dallas-based HomeVestors of America, Inc. is the largest professional house buying franchise in the U.S. with more than 125,000 houses bought since 1996. HomeVestors recruits, trains and supports its more than 1,150 independently owned and operated HomeVestors franchisees that specialize in building businesses based on buying, rehabbing, selling, and holding residential properties. Most commonly known as the "We Buy Ugly Houses®" company, HomeVestors strives to make a positive impact in each of its 176 markets. The company ranked on the 2021 Inc. 5000, has appeared for 12 consecutive years on the prestigious Franchise Business Review's "Top Franchises", for nine years on the annual Dallas 100, and ranked 39th on the 2022 Franchise Times Fast & Serious. HomeVestors has also been regularly recognized by Entrepreneur Magazine, which most recently ranked it 16th "Top Growth Franchise", named it as one of the top 200 franchises of 2020, and placed it at number 36 on its annual Franchise 500. For more information, visit www.HomeVestors.com.

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Contacts

Ariel Herr
469-235-2708
aherr@imaginuity.com
Filed Under: Business

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