The Housing Market is Unrelenting
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- Опубликовано: 25 май 2024
- Based on a new report from Redfin, the U.S. median sale price reached another record high for the four weeks ended May 19th, 2004. The high costs of buying a home caused pending home sales to fall to at least a 3-year low during the same time period despite an increase in the number of new listings (i.e. pending sales falling and new listings rising from a year earlier).
In addition, the share of price reductions also reached at least a 3 year high for the same time period which can be a sign of softness in future home price growth.
In today’s video, I share the latest housing market trends for the United States 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!
Video I mentioned about reasons why the US median sale price has been increasing:
• THIS is Why Home Price...
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Sources of the Reports I Shared in Today’s Video:
www.redfin.com/news/housing-m...
www.redfin.com/news/data-center/
www.mortgagenewsdaily.com/mor...
www.investing.com/economic-ca...
To give you a quick mortgage interest rates update, according to the Mortgage News Daily the average 30 yr fixed rate mortgage is around 7.2% 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 (inactive CPA lic 103885)
Sacramento real estate agent and native (DRE 01923240)
Mortgage Loan Officer, NMLS 2566691
Revest Homes (DRE 02174879, NMLS 2362319)
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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 and mortgage loan originator with Revest Homes in California (DRE 02174879, NMLS 2362319).
#Redfin #realestate #housingmarket 
Развлечения
Houses are for rich people, officially
yes, that should be the only distinction between rich and poor. You home tells you the status.
Thanks Jason, appreciate you !
People in this chat are brutal. First time home buyers between the age of 25-30 are the ones suffering right now. If people just took time to look at the FRED charts and get out of their stubborn minded logic, they could sympathize a little more with those struggling to justify buying a home.
It’s way more than that very small range of people
@@ericmiller4593 for sure 👍🏼
Cash buyers and investors don't care about interest rates
They should. Their money could be working harder for them if they earn interest on their money instead of paying top dollar for garbage homes.
@matthewphillips5483 Yeah sure Trvavis. Because 90% of the world's millionaires got rich in taxable 30 day T bills. 🙄
@@jacinedelarosa6302 Who even told you that 90% of world millionaires got rich in Real Estate? Dave Ramsey? lmao. Let's be real. Most people get wealthy from equities or owning a business.
@@matthewphillips5483Seriously Travis, if you don't even know that nearly every millionaire on the planet made their wealth in real estate , you have no business talking about real estate anywhere AT ALL.
Great analysis, thanks Jason! Do you think much will change this summer after this whole NAR settlement issue?
I’m curious how many real estate agents will face lawsuits for providing financial advice with their “marry the house, date the rate” narrative. These rates seem to be the clingy, stalkerish date that won’t let go.
Thank you. We've been told that advice at open houses. Bad advice.
They do serve as a fiduciary. If I was dumb enough to buy the narrative and purchase Jun 22+ I’d definitely counsel legal advice.
Those homeowners with current 8% rates can easily refi today at low to high 6’s. Those who have conventional loan can easily refi We’re up 6% yoy. VA has VA IRRRL and FHA has FHA streamline no need of appraisal. They should be thankful they bought and can easily save hundreds and thousands of dollars lol😂
You all need to start doing your research. Those crashbros are making so much money. I bet some of you had purchased that reventure worthless app and you wonder who’s buying these properties. I bet one of them your mentor reventure 😂. He’s making money and you all get screwed.
@@House_hacker_619 I made over half a million last year on stocks. No tenants to worry about and my profits are 100% liquid. I’ll ride the stock market train until it slows down then buy more properties. To each their own. Sometimes I think you comment just to show off that you bought at the right time or because you’re insecure about what might be coming. Time will tell. I’m on a mountain of cash that just gets bigger until I’m ready to buy and won’t have to worry about a mortgage.
There's SO many rich people out there. SO MANY. More than enough to gobble up low inventory in my market.
Agreed, seems there will always be incentive to invest. And a lot of people, have a lot of money
Why put money into the housing market? There are other, better, investments to make.
@@matthewphillips5483Because that's where 90% of the world's millionaires have made their money. Not taxable.5% 30 day T-bills , Travis. 🙄
@@matthewphillips5483 where else can you get a bank leveraged asset?
All the episodes are blending together but I keep tuning in to listen to same message 😵💫
Index during current spring buying season being less than during literal COVID lockdowns is a great insight.
Just sold in San Antonio, TX - March 1st - $850K. Very fortunate to get a cash buyer with offer 12 days after listing. The houses in same neighborhood which were listed around same time or since are not selling and I see price drops - unless the houses were outstanding and priced right (low.) In the older neighborhood where I moved to, it’s worse. Huge number of homes for sale and no takers. One seller finally bit the bullet and dropped home $99K (25%) to get a sale.
Wow it’s getting bad
Mahalo Jason 🤙🏽🌴🇺🇸🇺🇸
Happy Sunday Jason👍
Good morning
Good morning
Good morning
Between this and the revsion on new home sales now reflecting a puny 5.8% drop in values from "peak", it is yet another very bad day for crash bros and the renters who pay attention to them.
A lot worse of a day for real estate agents and anyone who bought in 2022.
@nitroneonicman Sorry , Renter, reality isn't interested in your crash bro delusions.
Keep renting.
How many alts you got, "bro"? I know you also go by "user...." along with "Jim..." and "House_Hacker" and others. Imagine still trying to encourage people to buy at record high prices and with 7%+ interest rates for the junk homes that are on the market. Imagine also encouraging people to spend 50% more per month to buy than to rent. You lost the plot and are pissed that people aren't buying what you're selling. No one is against buying. We are only against paying top dollar for garbage.
@matthewphillips5483 Imagine still being a renter having missed our on 4+ years on historic asset growth because of something they heard on RUclips.
@@jacinedelarosa6302 I wasn't able to afford to buy 4 years ago, genius. I can afford to buy now but why would I want to give people who bought 4 years ago 25%-50% premium?
There is no question that the market will turn as soon as unemployment rate goes up (which will go up to the 5
5% which is the historic norm) and people that will be forced to sell to get out of the current property. Will a crash like 2008 happened? Yes and no. The crash won't happen all at once, but over a slow period of time year after year. Why? Because there is too much equity floating around.
Is it just me or does anyone else remember the all time high average price being closer to $400K 3 years ago??? Now Redfin says the all time high avg is $387K? Am I missing something or are downward revisions becoming the norm that don’t get talked about?
I think current median listings is 437k
That’s true. Summer ‘22 was record of $400k but was revised much lower. Odd
Hi again Travis. 🙄
The reason house sold quickly in May/June of 2022?…. 3% interest rates.
There's a few homes for sale where I live. 1 is $250,000
3
bed
1
bath
2,500sqft
2,500 square feet
3,751sqft lot.
$60,000
4
bed
2
bath
1,318sqft
1,318 square feet
3,751sqft lot
$50,000
3
bed
2
bath
1,204sqft
1,204 square feet
3719sqft lot
And on and on and on
I think we’re going to have stagnant or 5% increase year over year for the next 4-7 years. Once median wages slightly catch up or inflation drop which equals to rate reduction. I’m seeing another run up in prices like 2021. It boils down to supply and demand and the area.
How will wages catch up if prices increase 5% each year? I don’t know many people getting 5-10% wage increases annually to play catch up.
Supply and Demand is the easy narrative to follow. Higher Unemployment throws your entire thesis in the garbage 🗑️
@@MelStar31 research the 80’s market. We complain about 4% unemployment rate, 3% inflation and 7% interest rate. They had 10.5% unemployment, 18-21% interest rate and 8% inflation rate. It didn’t crash market. Some areas had seen double in equity. Let’s say houses back then were cheaper median houses 50k and median wages are 20k annually. Imagine paying 18-21% interest rate and another 8% of everything. Back in the 80’s not a lot of dual income. Also 89% of current homeowners have less than 6% mortgage and there’s 40% of current homeowners have “ZERO” mortgage. Plus immigration and demand from investors keeps going up.
@@MelStar31 we don’t have enough supply. Those small supplies we have in the market are enough for investors to snag it out of the market.
@@MelStar31 you believe me or you don’t. All I can say is good luck to you. I’d been arguing with crash bros for the last 3 years and have been right. Instead of being negative look for people who’ve been successful and ask how they did it and learn something from them 😂
Since 2020, where’s that crash everyone was predicting? Been 4 years and counting. No crash to be found?
Number of homes being sold has in fact crashed dramatically. Price crash will happen as soon as people stop lying to themselves about the value of their home
@@nitroneonicmanlow supply and high demand. That’s why prices keep going up. Remember Covid when hand sanitizer prices had gone up because of the demand.
@@nitroneonicmanunfortunately not a lot of force seller.
Just you wait, it's coming later this year. I mean it might get pushed out to next year so 2025 looks like a lock. Unless mitigating factors push it out to 2026. But its definitely happening by 2027, or at the latest 2028. I really can't see it not happening by 2029 so it should definitely happen in 2030... and if not then certainly by 2040 or maybe 2050 at the absolute latest
@@DCfurnfe-vp1mz lol as time goes on, people with low interest rates will be closer to paying off their house. Each monthly payment impacts the principal loan since interest rates is so low
Redfin is pumping the market, main reason for the crash going to be very worse end of the year
Might want to educate yourself with actual data and facts. Your feelings don't mean anything.
@@onlyfoolriding8223 Nor do yours.
Forever, he keeps talking about "the madness" of the market. Maybe the market is acting properly, based upon the huge bubble of cash infused in the covid era. This isn't madness - its expected.
If the market is acting expectedly then we both know what happens next
He is making up for losses in His real estate career through RUclips hits and comments, And I'm sure doing quite well at it.
ITS MADNESS I TELL YOU! MADNESS!!
I was not expecting record high prices with 7% rates.
@@JasonWalter1Nobody was. I’m curious how many recent buyers were banking on refinancing in a few months to afford the payment. How many will last when their high rate payments go for longer than expected with ever increasing property taxes, insurance, utilities, etc?
The problem is all crash bros suffering from 2008 ptsd. Simple google search tells that just in 2009-10 there were 2.9 million foreclosures alone , in comparison we have 1.9 million in total homes for sale now . Demand is so high that supply cannot keep up . Our research finds we have atleast 25% price increase to go once rates come down . Buy now or forever be left out . Simple .
These crashbros are making so much money on RUclips and worthless reventure app 😂. I bet some of them already bought and no one is going to know anyway.
I heard reventure is charging $30 monthly on app. If there’s 10k idiots bought that app. In a year he just made 3.6M not counting RUclips videos
Buy now or be forever left out. That makes zero sense. You're basically saying to the moon like all those stock bros who lost their pants 2 years ago.
@@yakemon exhibit A - people who talk about stocks and real estate in the same sentence for comparison .
Tell that to SW Florida. We have a property bro in the house.
Makes perfect sense. Most sales are affluent people who don't care if they overpay. Average price is going to go up every month but the middle and lower end of the market will continue to stagnate. If in June we only see 5 home sales and they are all over a million, Redfin can say "new record average sold price over a million!" and they'd technically be correct :D
👏🏻👏🏻
🙄 No, "most sales" are not "affluent people". That is fake news and you and your crash bro ilk are completely making it up. The nedian is up because prices are up ACROSS the board. That's how median works and it has ALWAYS been calculated that way, in up OR down markets.
Cope.
TANK A DOODLE DOO !!!!!!!
1😊
👍
This dude lie everyday
😯
Did you buy in 2023 and have buyer's remorse? :D
@@matthewphillips5483 I am not crazy . I know what’s going on in the market