Massive Fallout in the US Housing Market Right Now

The housing market is in BIG trouble… Pending home sales (i.e. signed contracts between a homebuyer and seller) dipped to the lowest levels since June 2010 (excluding April 2020 when we had stay at home orders across much of the nation). Also, on a year over year basis, pendings dipped by 31% in September. This is according to a new housing market report & data from the National Association of Realtors (NAR). The pullback in homebuyer demand is quite evident as well given the fact that housing inventory is up by approximately 35% per Realtor.com and AltosResearch.com (i.e. even though there’s 35% more houses for sale now compared to a year ago, pending home sales fell by 31%).

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Compilation of Housing Market Forecast videos:

To give you a quick mortgage interest rates update, according to the Mortgage News Daily the average 30yr fixed rate mortgage is around 7.1% 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)
jason@meetjasonwalter.com

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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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#realestate #Realtor #housingmarket