Big Changes Coming to the Housing Market?

The US housing market has experienced a wild ride so far in 2024. Redfin recently reported that the median sale price reached a new record high but in today’s video, I discuss early indicators of our housing market so we can gauge which direction we are headed. I discuss NAR’s pending home sale index, Google searches for “homes for sale”, real estate agent showings, mortgage applications and more. I also have an update on mortgage rates as well because on April 25, 2024 average 30 year fixed mortgage rates spiked to a 5-month high per the Mortgage News Daily. Links to my sources are below.

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Video I mentioned about Redfin's report about record high home prices:
https://youtu.be/UTBbCJLHHRI

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Compilation of Housing Market Forecast videos:
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Reports I covered in today’s video:
https://www.redfin.com/news/housing-market-update-home-prices-costs-record-high/

https://www.investing.com/economic-calendar/

https://www.nar.realtor/newsroom/pending-home-sales-ascended-3-4-in-march

https://www.mortgagenewsdaily.com/markets/mbs-morning-04252024

https://www.mortgagenewsdaily.com/mortgage-rates

https://www.nar.realtor/foot-traffic/march-2024-foot-traffic

https://www.mba.org/news-and-research/newsroom/news/2024/04/24/mortgage-applications-decrease-in-latest-mba-weekly-survey

To give you a quick mortgage interest rates update, according to the Mortgage News Daily the average 30yr fixed rate mortgage is around 7.5% for the current mortgage rates (at the time of filming this video for borrowers with exceptional 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?

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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]

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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).

#mortgagerates #Realtor #housingmarket


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