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According to data from the National Association of Realtors (NAR), after 4 consecutive months of home price records being broken, the median sold price decreased in July, August and September 2021.
In addition, NAR reported that the “median existing-home price for all housing types in September was $352,800, up 13.3% from September 2020, as prices rose in each region. This marks 115 straight months of year-over-year increases.” But this marks the 3rd consecutive month to month decrease in home prices.
The bad news for homebuyers is the fact that housing inventory decreased for 2 consecutive months. This is after FIVE consecutive increases from March through July. Housing inventory is still up about 30% this year though.
To give you a quick mortgage interest rates update, according to the Mortgage News Daily the average 30yr fixed rate mortgage is 3.27% for the current mortgage rates (at the time of filming this video). This is mixed news if you’re a homebuyer right now or if you’re a homeowner looking to refinance.
Comment below: what’s your housing market 2021 forecast and housing market forecast 2021? Do you think a housing crash 2021 will happen and there will be a housing crash due to a housing bubble, a 2021 housing market crash 2021 or are your housing market predictions that the real estate market 2021 and home prices 2021 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)
[email protected]
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Why Aren’t Home Prices Dropping? Housing Market 2020
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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.
#homeprices #housingmarket #realestate