Redfin: Mid-July Housing Market Update

Redfin: “There are signs that price growth may lose momentum soon.” The US median sale price reached a new record high for the 9th consecutive week but the share of price reductions has been on the rise, homes are taking longer to sell and on average homes are selling for slightly below the seller’s asking price.

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).

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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 6.9% 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?

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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.

#Redfin #realestate #housingmarket

[letsgobrandon]

Lennars is paying $81, 000 in rate buy downs in Florida and adding this to the asking price of the home.

[eugenefirebird]

Houses in the USA are 2x real value in most areas, and 3x real value in the usual super bubble areas. Houses do not cost any more to build than they did 10 years ago -- the extra price is all going to profit, a profit gouge. Anyone who bought since 2019 is in for a huge loss -- it's coming.

[Isaac-ueuj]

Lennar's most recent quarterly report showed that they had to utilize an average of 16.9% ($52000+) in buyer incentives in their Texas markets. I'm long on popcorn and lawn chairs.

[jonathantaylor]

"Dampening price growth" is very literally point of higher rates. But it's a paradox because all the FED can do is hike rates but that actually makes homes more expensive on a monthly basis... but rate hikes are the only tool the FED has.. I do wonder if the FED is as surprised as I have been how resilient home prices have remained despite 7% mortgage rates. At least where I live nobody seems to care. Home prices are maybe flat but not really down and they sell in 10 days or less.

[discorabbit]

The data is misinterpreted and manipulated. Control for the right variables, and a crash is clear.

[SigFigNewton]

Has the portion of inventory that is new builds ever been this high before?
That’s a factor that can be counted on to increase sales prices. More of the stuff that exists in the market is worth more cuz it’s new

[Courtney-Alice-Gargani]

Inventory needs to skyrocket for prices start to go down. I don’t see that happening.

[jeffjlogan]

All the numbers say prices should go down but sellers are holding strong on their prices. It's the feather effect. Quick to go up... Slow to fall.

[threemonkeys]

Houses sitting and sitting in Charlotte, NC

[themiddayescape]

Inventory is the lowest in the Midwest, but is it increasing?

[CurtisLoew-qq]

The reason the end of 2022 was slow is that interest rates went from 3% to 8%, right? All sellers pulled to the beginning of year. Everyone knew to sell before Independence Day. -Curtis

[Steverz]

Happy Sunday Jason, LETS GET NERDY!😂🤣😂

[nealweeks]

Good morning from my $300, 000 house in

[Truebaconluver]

You say 32% are selling higher thn listing thn say 68% at or below..but you. Should separate that into 3 categories because even at listing price is a big deal

[StephenTSampson]

The median house price makes sense I saw average price of a house in Charleston or Walterboro of South Carolina is 400, 000. That the rich part of the state. I got my license from Georgia so I could work in any state.