Episode #38
Matthew Gardner
Chief Economist
Windermere Real Estate

Overview

On the latest installment of RISMedia’s RealEdge Podcast, Matthew Gardner weaves past, present and future into a narrative. As chief economist of Windermere Real Estate, Gardner shares predictions and reassurance about what the 2023 market will hold. However, he grounds these predictions in analysis of past and current market conditions so listeners can be assured he isn’t just going on instinct.

On this week's episode, you'll learn:

1:15 - Why the economic downturn of 2023 won’t be a repeat of 2008.
1:57 - What 2023’s transaction volume will look like.
4:30 - How will intervention by the Federal Reserve continue to affect the market?
7:12 - Where mortgage rates will ultimately settle.
9:25 - The ongoing conditions of supply and demand.
13:59 - Which types of sellers will be on the market in 2023.
16:22 - What sources you should track to make market predictions.
20:57 - Why the housing market of 2020 and 2021 were “unsustainable.”


About 

An economist specializing in real estate market analysis, Matthew Gardner has 28 years of experience in the US and UK. First retained as an economist at Windermere in 2000, he was promoted to chief economist in 2015. On top of his professional duties, he sits on the Washington State Governor's Council of Economic Advisors. He is also active in academia at the University of Washington, where he serves as a lecturer, chairs the Board of Trustees at the Washington Center for Real Estate Research, and is an Advisory Board Member at the Runstad Center for Real Estate Studies.

It's not just students who enjoy Gardner's analysis. He is one of the economists who provide data for Zillow and Reuters' respective home price surveys. He also writes quarterly market reports and produces monthly videos on his social media for professionals and consumers to enjoy. 

He holds an undergraduate degree in Economics from Oxford University and a graduate degree in Econometrics from the London School of Economics. He lives in Windermere's hometown of Seattle, Washington.


Links and Resources
Matthew Gardner’s LinkedIn
Matthew Gardner’s Twitter
Windermere Market Updates by Matthew Gardner
Matthew’s Top Predictions for 2023
Experts Say Elevated Gas Prices Pose Additional Burden on Buyer Preference 
ACESocial
Ultimate Guide to Find, Hire, Train a Real Estate ISA
Explained: What Is a Virtual Assistant?
RISMedia's ACESocial

Quotes:

“It’s not a housing recession, it’s a housing reversion… 2020 and 2021 were fake because we had artificial demand because of work from home because of Covid.”
“I think for next year and I would argue a few years beyond that we’re actually going to see transactional velocities a lot lower”
“I think we’re not going to see the inventory that brokers need and they can’t sell something that is not on the market”
“Given the number of people who are set at remarkably low mortgage rates, if they do not have to sell, will they?”
“The market will be tight because one, you’ve got people not moving, and two, you’ve got builders not building.”

Episode #38: 'Predicting the ‘Housing Reversion’

RISMedia