Zillow Just Flipped: New Housing Market Forecast

Zillow just flipped and announced their revised housing market forecast on July 22, 2024. In today’s video, I share their latest real estate market forecast for the US housing market for home prices and sales.

Thank you for watching today’s video! I appreciate you. Please like, subscribe and share this video onto your social media. Links to my sources are below.

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Compilation of Housing Market Forecast videos:

Reports I shared in the 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 6.9% for the current mortgage rates for people with exceptional credit (at the time of filming this video).

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 (inactive CPA lic 103885)
Sacramento real estate agent and native (DRE 01923240)
Mortgage Loan Officer, NMLS 2566691
Revest Homes (DRE 02174879, NMLS 2362319)

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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.

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).

For informational purposes only. This is not a commitment to lend or extend credit. Information and/or dates are subject to change without notice. All loans are subject to credit approval. Other restrictions may apply. Equal housing lender.

#Zillow #housingforecast #housingpredictions

[Courtney-Alice-Gargani]

Good Morning, Jason. We don't any more home value rise. We want prices to go down. How good is Zillow's analyst?

[DEG]

It is convenient for any company that is involved in selling houses to say that they are going to increase in price. If they say they are going to go down, no one would buy now and they would continue waiting. The reality is that they are scared and need to scare others.

[Wooohooohooo]

I’m still holding back on purchasing any home, not interested in getting caught up with the jackazz buyers or the home investor pyramid scheme. Very likely a Zillow last attempt to horde in cash before a drastic drop in sales.

[Kurplode]

Here’s what we need to watch out for..

1. When the FED starts lowering rates with intentions to keep going lower, we need to know why. They will probably lower once in September but that won’t change anything. It’s not significant enough.

2. If they lower it substantially, it’s because (and it has ALWAYS been because of this reason), something is highly broken in the economy, usually unemployment

3. Here’s the big one. If they lower rates substantially, demand will NOT come back. People will be fearful of losing their job or demand will trickle in some but supply will heavily outweigh it (maybe not in all of the U.S., but in most parts).

Those that think demand will fly back in if the fed lowers their rates by ~200 basis points is missing the above historical trend.

There would need to be the exact same amount of money printing as 2020 again for demand to come back like it did and the U.S. cannot afford that.

[arizonagolfandrealestate]

There are about 80M more Americans by census now than in 1990. You would think the number of house sales would be way more.

[claudinem]

Houses are slashing prices in Tucson. This is hard to believe.

[tracyaminute]

Most of what I see here In my northern CA town::: homes sitting on market and sitting and sitting. Prices being slashed on good homes. Most of the homes being sold: 500k and below.
My own excellent realtor who has been realtor here for 30+ years and has a great reputation and experience has sold only 2 homes in the last 18 months.
Also realtors laying off workers.
But I talk to realtors and it’s like they REFUSE to see reality. Things are always great it’s going to be great it is great. It’s almost a form of insanity while I watch 700k+ homes sitting there at the same price for 6 months plus, ever hopeful some poor schmuck from the bay will come plonck down their ridiculous asking price 😂

[LesterRivera-gmee]

Who believes what Zillow says anymore ?

[robertjones]

When the 1-3 year arm loans increase it will get interesting.

[Steven-zjyw]

If your you bought a home in the last 2 years or are currently buying a home. Goodluck to you

[mikel]

Jason, as far as historical figures....the US population was 248M in 1990, and it was 331M in 2020....a 33% incease. 4, 090, 000 x .67 = 2, 740, 300. so apples to apples, sales are actually lower based on current population than 1990

[zhenshan]

people tend to purchase/invest at a up turn than down turn but it is so much appreciation for people purchased from 2008-2016 and still hold now.

[russellallen]

We are seeing a rise in home inventory which should lower prices. They are like many of these banks and companies who think the market will not crash. 2008 had the same thing happening back then.

[bethanydavis]

I think if the fed drops rates too soon or too fast, prices are gonna climb again. We already have an affordability problem and even tho the rates will be better (for a tiny bit) the price will still push people out. Economic ninja and George gammon have both talked about the whipsaw effect and unfortunately I think we still need to see some more pain to see any real correction.

[ossgkur]

Once again, great job! Your videos on Real Estate data is absolute the best!

[randymilmeister-realtorprobate]

i like that you showed what's happening in real estate in several markets. thanks

[toddburks]

Zillow is delusional, nobody has any money.

[raymond_sycamore]

How low can it go? I think Zillow is wrong.

[blairmassey]

They are not being realistic. Just because the Fed is planning to lower the Fed fund rate doesn’t mean that it will help real estate. The market is frozen in most areas.

[finess]

Great video, I love you using the graphs in Excel in the video

Can I make a small suggestion?

Consistently Make each year, the same color on all graphs

Meaning make 2024 graph color, the same for all graphs that you show 2024 data


Hope this helps have a great day