In this clip from the PBD Podcast, Patrick Bet-David and the Home Team discuss the current state of the U.S. housing market. They delve into the plummeting number of home sales, which have hit the lowest level since 2012. With a 0.1 percent decline in available homes for sale compared to the previous year, the market is experiencing its first annual decline since April 2020. The shortage of inventory has led to increased housing affordability concerns, as the median price of existing single-family homes has risen from $300,000 in 2020 to $393,000 in April 2023. High mortgage rates further contribute to the supply problem, discouraging homeowners from selling and buyers from entering the market. Discover the factors influencing these dynamics and gain valuable insights for navigating the current housing landscape.
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