Pending home sales dropped 8% year over year, the largest decrease since May 2020. Meanwhile housing supply continues to increase and more than 1 in every 5 home sellers are reducing their asking price as homebuyer demand is softening. I share the latest housing market trends in today’s video.
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To give you a quick mortgage interest rates update, according to the Mortgage News Daily the average 30yr fixed rate mortgage is around 5.5% for the current mortgage rates (at the time of filming this video). That’s up ~2% YTD for the average 30yr fixed rate mortgage.
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My Bold Housing Market Predictions for 2022:
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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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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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#housingmarket #Redfin #realestate
Originally published at https://www.youtube.com/watch?v=DP9gXCcf7U4
This news story originally appeared at Real Estate - Trend Magazine on 24 June 2022