Welcome back to The Shivers Report.

If you’re confused about today’s housing market, you’re not alone. One side thinks we’re still in 2021 with multiple offers and sky-high pricing. The other thinks we’re back in 2009 with a 40% crash.

In this episode, Nick and Keegan Shivers break down what’s actually happening in 2025—and why the truth sits somewhere in the middle.

We talk about:
• Why 62% of homes had price reductions in 2025 (and why that’s actually close to 2019 “normal”)
• The danger of sellers using 2021–2022 as their pricing benchmark
• Why buyers expecting a 2009-style crash are likely waiting for something that isn’t happening
• What a balanced market really looks like—and where it’s still a buyer’s vs. seller’s market
• Why markets like West Palm Beach, Fort Lauderdale, Miami, San Antonio, and Dallas are seeing heavy price reductions due to massive pandemic-era construction
• How red tape and permitting in the Pacific Northwest are limiting new supply
• The difference between nominal pricing and real pricing (after inflation)
• Why real appreciation may be flat—or negative—this year

Nick and Keegan also challenge agents to step up. With 71% of agents not selling a single home, education and expectation-setting matter more than ever.

Bottom line: this isn’t a crash. It’s a reset back to normal market dynamics.

The agents who understand supply, demand, pricing psychology, and real data will win. The ones clinging to 2021—or hoping for 2009—will struggle.