Cort Dietz
Dietz predicts high demand, low supply will keep market strong
Cort Dietz, a broker and owner of ReMax Realty Cafe in Hillsboro, says people keep asking him, “How’s the market?”
He hears predictions of a crash on the horizon or a big correction. But that’s not what he sees.
“This is all about supply and demand,” Dietz said. “If you don’t oversupply the market and don’t kill the demand, there can be no crash.”
“We are not building enough houses to satisfy the demand,” he said. “We would have to build close to 2 million houses a year to catch up. There’s no fixing the supply issue in the short term.”
High demand results in pricing turbulence with multiple offers above asking prices and no contingencies.
Dietz does forecast a change coming there.
“Pricing can only go so high until people are out of the game,” Dietz said. “My prediction is we’re going to see a leveling off with buyers stepping away to wait.”
The result, he said, will be “a more normalized market.”
Dietz said buyers and sellers need expert help to navigate today’s market.
“We have great strategies to buy a house in this buying environment,” he said. “We are experienced at getting those deals done. We also have strategies for those who are afraid to put their homes on the market.”
Dietz said his personal business is about 1/3 commercial and 2/3 residential.
His transaction numbers are about the same this year as last. “But the dollar volume is way, way up,” Dietz said.
He said the average cost of a house is 15 percent higher than last year.
Reach Dietz at his office, 10632 Business 21, or call the office at 636-797-8600 or his cell phone at 314-623-6200.
“24/7, baby. Real estate is not for wimps,” Dietz said.