Realtor.com May ’23 Housing Report: Home Price Growth Lowest on Record

The US housing market keeps getting stranger and stranger… On average, homes are taking longer to sell compared to the past couple of years but they are still selling faster than pre-pandemic levels. Additionally, housing inventory (i.e. the number of existing homes for sale) barely grew in May from the previous month which is a BIG problem for home buyers as homeowners continue to decide not to sell their homes because they feel “locked-in” due to their low rates compared to current rates today of nearly 7% (as of 6/1/23). Housing inventory only increased by 3% from April to May 2023.

In today’s video, I share a brand new report from Realtor.com for May 2023. Enjoy! Subscribe and Like!

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Compilation of Housing Market Forecast videos:

The report I covered in today’s video:
https://www.realtor.com/research/may-2023-data/

To give you a quick mortgage interest rates update, according to the Mortgage News Daily the average 30yr fixed rate mortgage is around 6.9% 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?

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Jason Walter, CPA (lic 103885)
Sacramento real estate agent and native
Realty ONE Group Complete (DRE 01923240)
jason@meetjasonwalter.com

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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 with Realty One Group Complete in California under DRE 01923240.

#realestate #housingmarket #Realtor