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The US Census Bureau announced yesterday that the median sales price of new homes in July 2021 reached $390,500. That’s an 18.4% increase from a year ago. As prices of brand new homes increase, affordability is becoming more and more of an issue. In the meantime, home builder confidence is at a 13 month low due to high per the NAHB and volatile building materials prices, a lack of labor and lags in the supply chain.
New home sales increased 1% in July from the previous month but they dropped 27% from a year ago per the Census Bureau. However, despite this recent uptick sales of new homes this year have tanked.
To give you a quick mortgage interest rates update, according to the Mortgage News Daily the average 30yr fixed rate mortgage is 2.98% 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 Realtor/Sacramento real estate agent and native
Realty ONE Group Complete (DRE 01923240)
jason@meetjasonwalter.com
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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 Realtor with Realty One Group in California under DRE 01923240.
#newhomes #housingmarket #homebuilder