The Housing Market is About to Flip from Bad to Worse

The U.S. housing market is about to flip! Housing affordability hit a new all-time record low as the average monthly housing payment of would-be homebuyers reached a new record high according to Redfin and the Mortgage Bankers’ Association (MBA) this week. To make matters worse, average daily rates for 30yr fixed mortgages surged to a nearly 7-month high (7.12% on 5/25/23 per the Mortgage News Daily).

In today’s video, I provide an update on home prices, pending home sales, new listings and more! This is based on a brand new report from Redfin (link below).

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Compilation of Housing Market Forecast videos:

Report I discussed:

Housing Market Update: Mortgage Rates Surge Past 7.1% For First Time Since November; Some Buyers Back Off While Others Lower Budget

To give you a quick mortgage interest rates update, according to the Mortgage News Daily the average 30yr fixed rate mortgage is around 7% 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 in California under DRE 01923240.

#Redfin #Zillow #housingmarket