Cracks are Starting to Form

Cracks are starting to form in the US housing market as the share of price reductions rose to the highest levels since November 2022, homes are taking longer to sell on average and housing inventory is at least a 3-year high for a May. However, the US median sold price rose to another record high.

In today’s video, I share the latest housing market trends for the United States based on Redfin’s latest housing market update (link below).

Thank you for watching the video! I appreciate you. Please like, share this video and subscribe!

➜➜➜ Get Connected To a GREAT Real Estate Agent here anywhere in the USA:

➜➜➜ PLAYLIST: Videos about Living in Sacramento

➜➜➜ SUBSCRIBE FOR MORE VIDEOS ➜➜➜

Compilation of Housing Market Forecast videos:

Sources of the Reports I Shared in Today’s Video:

To give you a quick mortgage interest rates update, according to the Mortgage News Daily the average 30 yr fixed rate mortgage 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

***
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)

Moving to Sacramento? Top 10 Reasons to Move Here:

5 Pros & Cons of Living in Sacramento:

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).

#Redfin #realestate #housingmarket

[Pragmatistst]

It has to. It's unsustainable. The American economy has exceeded its max threshold. It's just a matter of time.

[spiritawaywithme]

Anaheim hills is known for good school districts too. Looking to put an offer on a home soon!

[sharamadsen]

Austin has a bunch of cheap, squished together new builds on the market ppl are snapping up.

[amardeepkaur]

We want to move from MI to CA. Not sure where to start?

[s.k.]

Florida, get ready. The hurricane is coming.

[MissDemeanorOG]

Your coverage is amazing and you explain everything so well!

[agentcrypto]

Crazy the share of price cuts is ath already in spring/summer. Wonder what will happen this fall/winter season.

[MaddieBr]

The "final list price" can be misleading. I would rather see sales price compared to "highest list price in previous 12 months".

[tinasmith]

...cracks became evident since the day prices went out the roof...and first time buyers could no longer buy...

[dustinhartlyn]

I like the graphs you included today. Thanks for taking the time to do that.

[glorgau]

For you people out there that are thinking of selling your house... don't panic. But if you have to panic, be first.

[carnivalgods]

I don't know if it had more to do with Memorial Day weekend or the extreme weather patterns here in Texas, but there was a noticeable pause in inventory listings the past week. Whichever it was, listings went back to ripping and roaring as of yesterday. Have a great weekend Jason!

[karthikkal]

I get new listings flooding my feed from Redfin in Raleigh-Cary metro

[Supsup]

I’m starting to see price reductions and houses sitting on the market longer in my area. I live on the IL side of the Mississippi near St. Louis.

[nadruik]

Am curious since you commented you don’t think prices come down, how do you think we come to affordability? Or do you think it just never will? Not hating just curious your opinion!

[johnborges]

I wonder to what extent the continued increases in average selling prices in certain markets are driven by continued sales at the high end of the market and diminished sales at the low end (as opposed to a relatively uniform increase in prices across the price spectrum). People buying more affordable homes certainly must be more impacted by high interest rates, I would think.

[weisong]

I am following the house sale at 92130 in San Diego. I have observed a significant lower number of pending sale in the past month.

[Matt_K]

It's friday. What bank is failing later today?

[omarakthar]

Thank you Jason for your data and analysis. Truly a no-spin zone.

[wreckim]

IMO, just watch builders halt production until they can get their price. I guess I'm just not a believer that we're in for any kind of relief on prices. I hope I'm wrong.