The Housing Market Just Hit a Wall

Despite mortgage rates DECREASING to nearly a 6-month LOW, pending home sales posted the biggest decline in 8 months. On top of that, price reductions have been surging, hitting an all-time record high (for data that goes back to 2015) for the four weeks ended July 14, 2024. What’s remarkable about this is the fact that price reductions tend to peak in the Winter, not July. In addition, housing inventory has been on the rise which is good news for homebuyers: it’s very close to a 4-yearr high, despite a decline over the past 2 weeks.

In today’s video, I share the latest housing market trends for the United States based on Redfin’s latest housing market update (link below).

Thank you for watching the video! I appreciate you. Please like, share this video and subscribe!

➜➜➜ Get Connected To a GREAT Real Estate Agent here anywhere in the USA:
http://www.realestateteamfinder.com

➜➜➜ Looking to buy or sell a home in the greater Sacramento area? We would love to help! Email me at: [email protected]

➜➜➜ PLAYLIST: Videos about Living in Sacramento
https://bit.ly/2TkXZSh

➜➜➜ SUBSCRIBE FOR MORE VIDEOS ➜➜➜
To never miss a video about real estate related topics, please subscribe & then hit the bell notification here ➜ https://bit.ly/31kAR73

➜➜➜ I now offer 1-on-1 consultations for housing market or YouTube related questions. Book here https://jason-walter-real-estate-inc.square.site/

➜➜➜ Want videos edited for YouTube? Hire us! For details, please email me at [email protected]

Compilation of Housing Market Forecast videos:
https://youtube.com/playlist?list=PLiQQpOejscIcBF1Jw2zG6Uvg7qDav_oGi

Sources of the Reports I Shared in Today’s Video:
https://www.redfin.com/news/housing-market-update-housing-payments-mortgage-rates-decline/

https://www.redfin.com/news/data-center/

To give you a quick mortgage interest rates update, according to the Mortgage News Daily the average 30 yr fixed rate mortgage is around 6.8% for the current mortgage rates (at the time of filming this video for those with excellent credit).

Comment below: what’s your housing market forecast? Do you think a housing crash will happen or are your housing market predictions that the real estate market and home prices will continue to surge?

----------------------------------------------------------------------------------
Products I use and like: ad
My Gear I Use for YouTube: https://www.amazon.com/shop/jasonwalter
Tubebuddy https://www.tubebuddy.com/jason808

***
Jason Walter, CPA (inactive CPA lic 103885)
Sacramento real estate agent and native (DRE 01923240)
Mortgage Loan Officer, NMLS 2566691
Revest Homes (DRE 02174879, NMLS 2362319)
[email protected]

Moving to Sacramento? Top 10 Reasons to Move Here:
https://youtu.be/LHfCyvnSR1w

5 Pros & Cons of Living in Sacramento:
https://youtu.be/4xVgRZ4alDY

Royalty Free Music from Bensound

Disclaimer:
Jason Walter is not a practicing tax accountant or a licensed attorney or financial adviser. Therefore, the information in these videos shall not be relied upon as tax, legal, or financial advice from a qualified perspective. If you need such advice, please contact a qualified tax accountant, attorney, or financial adviser. We have taken reasonable steps to check that the information in this video is accurate but we cannot represent that it is free from errors. You expressly agree not to rely upon any information contained in this video - it is for entertainment purposes only.

This video description may contain affiliate links that allow you to easily find the items mentioned in my videos as well as support the channel at no cost to you. Thank you for your support! Jason Walter is a licensed real estate agent and mortgage loan originator with Revest Homes in California (DRE 02174879, NMLS 2362319).

For informational purposes only. This is not a commitment to lend or extend credit. Information and/or dates are subject to change without notice. All loans are subject to credit approval. Other restrictions may apply. Equal housing lender.

#Redfin #realestate #housingmarket