Buyers Are Like School of Fish
Why do buyers remind me of The School of Fish in Finding Nemo? I explain the buyer trends I'm currently seeing in the market compared to the past several years.
Greetings. Buyers in the real estate market remind me of the school of fish in Finding Nemo. If you’ve seen the movie, you know that the school of fish move in a coordinated manner. The buyers of the past few years moved together all wanting to buy houses at the same time, thrusting the market higher very quickly. Well, the school of fish has turned around and they aren’t buying homes right now. They’re moving together and pushing prices down. They’re ready and able to buy, but they’re waiting for the bottom of the market. I don’t know when we will hit the bottom either in terms of time or percent decline. But at some point the fish, I mean buyers, will decide they think we’ve hit bottom and they’ll all swim the other way to buy homes. Maybe it’s in two months or maybe it’s next year, but it will happen. I’m curious to see if all the buyers will move quickly, thus causing another frenzied ride up or if it will be slower this time. As for me, I’ll just keep swimming so when you’re ready to buy, let me know.