Ryan Lundquist works as a residential appraiser and housing market analyst. He has been full-time appraising since 2003, and his clients include homeowners, real estate agents, attorneys, governmental agencies, tax professionals, and others. He is in charge of appraisals for estate settlement, divorce, pre-listing, and other private matters. He is qualified to testify in court and is available for a variety of market data visualization projects.
He frequently speaks about housing market trends and teaches appraisal-related classes. He has been a member of the Sacramento Association of Realtors for over a decade and was named Affiliate of the Year in 2014. He also speaks at the majority of the region’s local real estate associations. He has been a member or board member of the Sacramento Real Estate Appraisers Association for many years. He was named a notable business leader to watch in 2021 by Sacramento Magazine.
His interests outside of work include woodworking, walking, and spending time with his family. He intends to start a woodworking business when he retires.
Episode Highlights Here:
Ryan Lundquist:
You know, 4% and lower mortgage rates who have less incentive to sell. I mean, there are a lot of reasons that have created this environment.
Pierce York:
Let me ask you this, with all the changes that have happened in the last couple of years and whatnot, unlike where real estate is and where it’s going, and what we’ve learned from, like, 2000? Like, four, five, or six, all the way up through like that great recession, right? Have the cycles changed? Are we in a new pattern of the cycle now?
Ryan Lundquist:
Well, I would say that often, especially in California, and in Sacramento, you see prices go up for seven, eight years or so. I would say, we’re in a definite new pattern in terms of the markets going on longer. Markets go up and down. That’s the most natural thing in the world. In that regard, and, one of the things about this market is that people are being scrutinized, and it’s not easy to get along. There’s that very healthy aspect. But I think one of the really big problems right now is we have such an anemic housing supply. So like in my market in Sacramento, for 20 months in a row, we’ve had less than one month’s supply. That means if nothing else came to the market, all the listings would be gone in one month. Technically, that’s about three weeks, and so it’s even less and so it’s so freakishly abnormal to have numbers like this. I think there’s, we sort of hitting this place in real estate, where we’re really flirting with low supply. Some of that is due to COVID. Sellers not selling as much, but you have all this distressed inventory that’s gone, and investors bought it, investment funds, purchasing properties, and you have over 10 years of people with 4% and lower mortgage rates who have less incentive to sell. I mean, there’s really, there’s a lot of reasons that have created this environment. But I think it’s a unique position in a time where there’s a lot of upward pressure, despite where prices are at. We look and go, can this continue? Is it sustainable? I certainly hope it slows down at some point. I think it needs to to be healthy, but we also have this challenge of this position, if not enough new construction and all those other reasons I listed that put us in this low inventory environment, and it’s just precarious, and it just creates so much pressure up and so that’s the unfortunate reality, I think where we’re at today.
Pierce York:
So, your position is that the events that have kind of unfolded do in this like complete lack of new inventory that we have not put into the market that we should have been putting in is created this super low supply and because of that, it’s just a simple supply and demand curve that’s really causing the upward pressure on the market.
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About Ryan Lundquist
Ryan Lundquist works as a residential appraiser and housing market analyst. He has been full-time appraising since 2003, and his clients include homeowners, real estate agents, attorneys, governmental agencies, tax professionals, and others. He is in charge of appraisals for estate settlement, divorce, pre-listing, and other private matters. He is qualified to testify in court and is available for a variety of market data visualization projects.
He frequently speaks about housing market trends and teaches appraisal-related classes. He has been a member of the Sacramento Association of Realtors for over a decade and was named Affiliate of the Year in 2014. He also speaks at the majority of the region’s local real estate associations. He has been a member or board member of the Sacramento Real Estate Appraisers Association for many years. He was named a notable business leader to watch in 2021 by Sacramento Magazine.
His interests outside of work include woodworking, walking, and spending time with his family. He intends to start a woodworking business when he retires.
