Because prices and rates are still very much elevated, housing affordability is very close to an all-time record low as homebuyer’s average monthly mortgage payment is close to record highs, according to Redfin’s latest housing market update posted on 9/7/23 (link below).
To make matters worse, housing inventory of existing houses remains at severely low levels. There’s approximately 15k fewer homes for sale nationwide as of the four weeks ended September 3, 2023 compared to the start of the year (-2% YTD). In contrast, the inventory of homes for sale grew by 322k during the same time period last year (+49% YTD at this time last year = January 2022 – 9/4/22).
I share this along with pending home sales, new listings, days on the market and more 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!
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Compilation of Housing Market Forecast videos:
Report I discussed:
https://www.freddiemac.com/media-room
https://www.mortgagenewsdaily.com/mortgage-rates
To give you a quick mortgage interest rates update, according to the Mortgage News Daily the average 30yr fixed rate mortgage is around 7.3% 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 (CPA lic 103885 – inactive)
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.
#Redfin #Zillow #homeprices