For the latest housing market update and according to the National Association of Realtors that existing home sales in the US dropped in Feb as housing supply dipped by the largest amount on record. Home Sales FELL 6.6% from the previous month BUT increased 9.1% from one year ago. As of the end of February, housing inventory remained at a record-low of just over 1M units and that’s down by almost 30% year-over-year = a record decline. The median price of an existing home (i.e. NOT a brand new home) increased 15.8% to $313,000 and prices increased in every region of the US. This is equal to the home price record that was set in Oct 2020. Do you think there will be a housing market crash 2021?
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For the 2021 housing market, Mortgage rates have increased greatly this year. The Mortgage News Daily announced that the average 30yr fixed rate mortgage is 3.43%.
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 or do you think the housing market 2021 will continue to surge?
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Jason Walter, CPA (lic 103885)
Sacramento Realtor/Sacramento real estate agent and native
Realty ONE Group Complete (DRE 01923240)
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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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