Redfin Housing Market Update + My Predictions for Home Prices

Redfin: “Inventory posted its biggest decline in 18 months as homeowners cling to relatively low mortgage rates.“ Housing affordability remains at near record lows and average 30 year mortgage rates just surged to over 7% again. Meanwhile home prices haven’t fallen yet because there’s still an anemic supply of existing houses for sale. For example, there’s 34k fewer homes for sale nationwide right now compared to the start of the year. In contrast, the inventory of homes for sale grew by 289k during the same time period last year (January through late-July). I share this along with pending home sales, new listings, days on the market and more. I also discuss my housing market predictions for home prices by year end.

Additionally, the national median sold price has increased by 10% year to date (through the four-week period ending 7/23/23) per my analysis of Redfin’s data.

This is based on a brand new report from Redfin (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:

Housing Market Update: Homes Prices Are Up 3% Year Over Year, Biggest Increase Since November

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)
[email protected]

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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.

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#Redfin #Zillow #housingmarket