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BIG Changes Happening in the US Housing Market

Huge changes are happening right now in the United States housing market. For example, there’s 26% more homes for sale compared to a year ago and that has been growing every single week since November 2023. New listings are up by double digits and the number of price reductions increased by 39% YOY last week. This is based on data from Realtor.com. Additionally, housing affordability is at record low levels (per Redfin for the four weeks ending March 24) due to elevated mortgage rates and from the median asking price increasing by $30k since October 2023 (when average rates were around 8%). It’s quite remarkable that buying a home now is the least affordable on record (as far back as Redfin’s data goes) even when average mortgage rates have decreased from 8% to 6.9% (per the Mortgage News Daily). Therefore, the housing affordability crisis in America is mainly due to high home prices. In today’s video, I share my own analysis based on the latest real estate market data from Realtor.com and Altos Research and the impacts that these trends could have on our US housing market in the weeks and months ahead. Thank you for watching the video! I appreciate you. Please like, share this video and subscribe! ➜➜➜ I now offer 1-on-1 consultations for housing market or YouTube related questions. Book here https://jason-walter-real-estate-inc.... ➜➜➜ Want videos edited for YouTube? Hire us! For details, please email me at [email protected] ➜➜➜ Get Connected To a GREAT Real Estate Agent here anywhere in the USA: http://www.realestateteamfinder.com Compilation of Housing Market Forecast videos:    • Housing Market Predictions   ➜➜➜ Looking to buy or sell a home in the greater Sacramento area? We would love to help! Email me at: [email protected] ➜➜➜ PLAYLIST: Videos about Living in Sacramento https://bit.ly/2TkXZSh Source of reports I shared: https://www.realtor.com/research/week... https://www.realtor.com/research/data/ https://altosresearch.com/ To give you a quick mortgage interest rates update, according to the Mortgage News Daily the average 30yr fixed mortgage rate 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? ---------------------------------------------------------------------------------- Products I use and like: ad My Gear I Use for YouTube: https://www.amazon.com/shop/jasonwalter Tubebuddy https://www.tubebuddy.com/jason808 *** 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) [email protected] ➜➜➜ SUBSCRIBE FOR MORE VIDEOS ➜➜➜ To never miss a video about real estate related topics, please subscribe & then hit the bell notification here ➜ https://bit.ly/31kAR73 ➜ PLAYLIST: Videos about Living in Sacramento https://bit.ly/2TkXZSh Royalty Free Music from Bensound 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). #mortgagerates #housingmarket #Realtor