REDFIN CEO: 2024 Housing Market Collapse

Redfin CEO: 2024 Housing Market Collapse
Stay up to date on the latest information and analysis regarding the state of the housing market. Our Videos encompass various factors such as ​home sales, ​home prices, ​inventory levels, mortgage rates, and market trends. Our updates provide valuable insights into the current conditions and dynamics of the ​real estate market, helping buyers, sellers, and investors make informed decisions. We make videos that typically include data on the number of homes sold, average prices, average days on market, and the supply and demand dynamics. Our updates can be useful for tracking market trends, understanding pricing patterns, and evaluating the overall health of the housing market.

Some Trends to Focus on:
​Home Sales: This data reflects the number of residential properties that have been sold within a specific timeframe. It helps gauge the level of activity and demand in the market.

​Home Prices: Information on home prices is crucial as it indicates the value of properties and helps track trends in appreciation or depreciation. It may include average sale prices, median prices, or price per square foot.

​Inventory Levels: Inventory refers to the number of homes available for sale in a given market. Tracking inventory levels helps determine market supply and demand dynamics and whether it is a buyer's or seller's market.

​Days on Market: This metric measures the average number of days it takes for a property to sell after being listed. It can indicate the speed at which homes are being bought and provide insights into market competitiveness.

​Mortgage Rates: Knowledge of current mortgage rates helps buyers and sellers understand the cost of borrowing money for purchasing a home. Fluctuations in rates can impact affordability and buyer demand.

Foreclosure Rates: This factor highlights the number of properties in foreclosure or at risk of foreclosure. It provides insights into the health and stability of the housing market.

Market Trends: Market updates often include analysis of emerging trends, such as the popularity of certain neighborhoods, shifts in buyer preferences, or changes in housing preferences due to external factors like remote work.

Local Market Data: Housing market updates may also include data specific to a particular city, region, or neighborhood. This helps individuals evaluate the local market conditions and make more informed decisions.

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Helpful Links:
1. How Much Interest Really Cost Calculator
2. How Much Can You Afford Calculator
3. Debt to Income Ratio Calculator
4. Amortization Calculator

Data Source:

#mortgagerates #realestatenews #housingmarketupdate

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Travis Spencer
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Amcap Home Loans
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Travis Spencer
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Travis Spencer
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[vitalsigns]

Brutal man. Glen always has a creepy perma-smile. The home price crash is always “next year”. 🤦🏻

[edwardsteinmetz-glzl]

Just saw my first road sign, "We Buy Pre-Foreclosure Houses." here in St Louis MO

[Erik-rphi]

I got cash that is limited and no income, retired. What burst my balloon is not interest rate hikes, I'm cash, it was the printing of money by the fed during covid that caused prices to go up 30-40% making me now able to buy a tiny home in a bad area of Los Angeles county.

[JS_]

In my opinion jobs is the glue that’s holding everything together. I think the fed will do another rate hike before end of year and they will hold rates most of next year possibly into 2025. Money will get tighter for businesses and they will do more layoffs probably beginning to middle of next year because businesses don’t like to layoff around Christmas

[koueisiong]

I’m seeing home price decreasing and homes not moving. Nobody is budging. Can’t wait to see how the end of 2023 will be. A lennar community that was supposed to be open in early spring has completely come to a halt. No homes has been built at all. I’m sure they know housing industry is going downwards

[thyslop]

No crystal ball here. Were I to cogitate my sense is much highet inflation. Something has to break. My input comes from on the ground. With regards to Real Estate. Suddenly, like in the last four weeks or less, I have seen an explosion of "for sale signs" in residential and I live on one of the hottest RE markets in the U.S.

[Gonezowithseanzo]

Everythings at an all time high... think about it people. If no pain now it's just gonna be all that more epic down the road. 24 year real estate investor here

[TheOne-eiyl]

It’s gonna get worse because people are losing their jobs!

[marksgoogle]

Inventory is lower but houses are starting to sit. My lease is due and house rentals exploded and some with cuts

[vickijohnson]

I just love your passion Travis. Been a subscriber for a long time. Keep up the great work and letting us know that the data is in and it’s complete “BONKERS”❤

[jessdedication]

What about 15% of America about to be over 75 years old!!! People are not going to be able to keep their homes and pay for home nursing. No elderly people with a 2 story home are going to want to stay there. Let’s talk about that. I see elder care facilities going up EVERYWHERE…two just opened in my small town that hold 500 residents or more!

[timber-rider]

People are forced to sell their homes for several reasons. One underestimated reason is divorce. There are 689, 308 divorces/year in the US. Of course, not all married couples own homes. But, the number is significant considering how few homes are up for sale.

[barryballinger]

Corporate landlords, STRs, anyone who bought since 2021, builders. That’s a lot of inventory that should come up very soon.

[SPM-tv]

I see a good chunk of home bought in the past 2 for sale again. Just because you qualify for a mortgage doesn’t mean you can afford it.

[bt-xvfy]

the morning radio has someone on that now has to pay for college and after mortgage she will only have 10k left over to pay for everything else for the entire year. YEP she better sell that house ASAP.

[jamesbowen]

The fact that he thinks the affordability fix needs to come from the Fed and not prices shows how much he doesn't care about normal people.

[nomaam-br]

That man is a snake in the grass and can not be trusted.

[oceanventure]

Here in the Pacific Northwest, I have seen a few homes that sold two years ago for crazy numbers, and are now listed for less than what they paid for. Any time you fork out more than 1/3 of your income to a home purchase things can get pretty skinny on your wallet. I believe we are in an early stage of a major downturn.

[jvzaz]

The Redfin ceo just looks like a crook

[Jack-Surreal_Panes]

Hey, I was one of those bad loans back then. Such a risk. Sold home in 08 not a missed payment paying on 2 mortgages then ( un rentable or sellable 06-08. Bought 2nd in 06 and finally sold 08. 3rd house in 06 was another risky loan, going on 17 years. 1st VA. 2nd 1st time buyer and 3rd home first time buyer. 2nd was a Fannie Freddy in 06. At least those homes were 98, 145, 149. Yes mid 6 but broke even then. Can't imagine these rates now that one cannot het refinanced without taking a hit woth closing costs, etc...and come out ahead. One people rewire their thinking that buying a home as a home and not a 2 or 3 year rental that they can sell in a week.