More BAD News for Homebuyers… Housing Market Warning

More BAD News for Homebuyers… Housing Market Warning // Thinking about buying a home this year? Watch this video for the latest housing market warning signs so you can make an informed decision about whether or not now is a good time to buy a home. Also, stick to the end because I discuss some tips and tricks.
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To give you a mortgage update in real estate market news, mortgage interest rates are slightly above record low levels. According to Freddie Mac, the average 30yr fixed rate mortgage is only 2.73%. A year ago at this time, rates averaged at 3.47%. The low rates are great for home buyers but that has caused demand to increase which is pushing up home prices in our US real estate market.

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To give you a housing market update, housing inventory is near record lows and that is causing prices to rise as well. With the lack of houses for sale, this is causing bidding wars and homes are selling very quickly in the US. What’s needed is more houses to be listed for sale and for more new construction.

Comment below: what’s your housing market 2021 forecast and housing market forecast 2021? Do you think a housing crash 2021 will happen and there will be a housing crash or do you think the housing market 2021 will continue to surge? Or is there a housing bubble and a housing market crash 2021?

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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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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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#housingmarket #housingcrash #housingbubble

[JasonWalter]

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[davisholman]

grandmother here....So sad for the sweet young families who cannot afford a home...hurts my heart.😢

[iamu]

I am going to continue saving until this whole mess is over. Sure I might not get that 2.375% interest rate, but at least I'm not paying 100k over priced homes either.

[allypropertyinspections]

Great to hear a realtor stating some uncomfortable truths to potential home buyers. The other issue home buyers are going to run into is that because they are foregoing their due diligence or shortening the timeframe to almost nothing in order to win the contract, a lot of them are going to own some expensive problems they weren’t expecting.

[doughurst]

Thanks for this update Jason. I have been really hard on myself since I let a townhouse go right as the pandemic started thinking that prices would drop, now that place is up like 100k and now there's nothing close to what I want. Pissed off but hopefully things get better next year.

[HooliTV]

Thanks for telling the truth.. Too many realtors just trying to sell homes.

[goldog]

Sad but True, so many new buyers many most likely being first time buyers are about find out the hard way what happens when you buy at the top of a market because they allow FOMO to rule they're thinking and drown out common sense, the last time this happened in 2005 I sold my house just because the prices were acting just like they are now and many of my friends were saying I was crazy because the prices were going to go so high I would never be able to buy again, well I don't need to tell you what happened and it looks like history is about to repeat itself

[ramiro]

My wife and I made two offers with 60k over asking in the tri-valley and got outbid. 18+ offers on each. Insane. Smh.

[ozd]

I would rather have 5 percent interest rate buy the house 179$ instead of buying a house 350$

[AdrianOrnelas]

Rates just went up today 📈
Let’s see how this plays out if they continue to increase

[jjk]

This has been two incredibly frustrating years. I'm well qualified and still getting beat every time.
Everything the government touches gets ruined

[AFractal]

I see prices dropping 15k to 45k just yesterday. I can't imagine it not dropping more in 7 months when foreclosures increase with unemployment. So many foreclosures out there that seems to be hidden to keep prices up. New ones every month on zillow.

[scotthesse]

Another factor is there is no inventory of houses. The home mortgage foreclosure moratorium is preventing houses from coming on the market to be sold.

[Hi_Bunnie]

Thank you so much for this video Jason! It really helps to hear from a realtor in California, because our market is really different from other states. I appreciate how you are not spewing random bits of your opinion and you provide us with facts and statistics. Another great video, please keep up the great work!

[belindamorales]

Central California is now average $half million in year 2021. Crazy! There's no bay or ocean here!! Help.

[danbuckles]

When looking at buying something like a house find out when the price was at it lowest and then see where it's at now. When you know that then you know when to buy and what to expect in the future. Always try to buy towards the bottom of a market not at the top.

[anewday]

Thanks for the info!!!I will wait until corrections are made. Not giving my money like nothing. I have to work very hard to make it.

[NightNurseMike]

I Can’t wait for the correction! I’ll be ready to buy

[Kv-pkst]

Yup I've been looking for just over a year. Prices are insane on some really BAD properties, anything worth putting a bid on are gone within days.

[g]

I waited to buy a house listening to the housing gurus, now the house prices skyrocketed by about $50k in my area since I've been looking last year🤬