Price drops are here! The share of price reductions increased to the highest levels since October 2019. Also, days on the market, the share of houses that went under contract within 1 week and the share of homes that sold above list price have all plateaued. This is according to a new report from Redfin.
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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 5.3% 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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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)
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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 #homeprices
Originally published at https://www.youtube.com/watch?v=driqUMQRaU8
This news story originally appeared at Real Estate - Trend Magazine on 2 August 2022