What a WILD Housing Market We Have Right Now

Thank you for watching the video! I appreciate you. Please like, share this video and subscribe! See below for links to the reports I covered.

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Compilation of Housing Market Forecast videos:

Source of reports I shared:

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

#realestate #housingmarket #Realtor

[JasonWalter]

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[Wooohooohooo]

Excellent news, pointless to buy now while inventory is slowly increasing & most current listings are still overvalued.

[jamesosteen]

What a stupid housing market we have right now. People need to stop buying at these insanely high prices. I understand some have to move and have no choice but a lot don’t and they are doing it just because they want a new house. I’ve wanted a new house for three years now but I’m not doing it with these dumb prices.

[Urgurl]

Your last video said inventory decreasing now you say going up. You guys have no idea

[obemgec]

Home values are declining rapidly throughout Massachusetts.

[jonathantaylor]

Housings biggest liability is a FED rate cut.... not working. If the FED cuts early (highly probable) and then inflation heats back up, there will be pure and total chaos. The only reason the 10 year UST is trading at 4.17% is because a lot of traders are currently renting these longer dated bonds. They are doing this because the conventional wisdom is that rates are going to come back down in the near future- and bond price is inverse of yield. These traders have no intention to hold these bonds to maturity. This is important because if inflation heats back up and the future of rates becomes "uncertain" then all this "rental" demand for 5-30's goes away and that will spike yields much higher. IMO the 10 year could hit 6.5% which will put mortgage rates into the 9's with very good credit. Inflation is in charge.

[kingbradentucky]

So much mixed data that conflicts with each other.

And I do not have special insight but it appears in Sarasota/Bradenton that a lot of listing got pulled.

[wreckim]

The most shocking thing that you've mentioned a few times in your channel Jason is that we had a 'Sharp Correction' in prices in 2022. I don't ever remember a sharp correction here locally in Vent. County....so maybe other areas are more unstable.

[billricheter]

Rates should not go down. We are at historical norms. People just want free money

[danielalonzo]

I guess the realtor mantra " we are not building enough housing" has gone out the window. Please can you confirm that we have p[lenty of available housing

[tonynelson]

Can you give us the numbers for California specifically. Can you tell us how many homes are in the market last year at the same time in California as opposed to what's on the market now? Thank you.

[Steverz]

Happy Tuesday Jason Walter 😊I see spreadsheets!🤣😂🤣

[FeliPeltier]

Can't wait to see the Airbnb market get wrecked

[PelicanIslandLabs]

No more crazy froth along the Cali central coast. Houses in the $1.25-2M range still selling quickly but above that price point it gets much harder. Lots of price reductions on the $4M (and above) sector.

[colinsmyers]

If only this can happen in the Northeast too.

[Courtney-Alice-Gargani]

Inventory has to 10x for a crash. There will probably never be another 2008.

[ctrlaltkys]

I wonder if this period is a good corollary to the 2006-07 market peak. Where some local markets are/were still tight and prices hadn't started falling much. If your market is still affordable AND has low inventory don't expect much of a correction yet. But markets where inventory is rising, and demand remains tepid, expect big price reductions by year end. What people don't seem to understand is that demand for mortgages has REMAINED at a 40 year low for 18 months now. The only thing keeping prices elevated in some areas, is the extremely low inventory numbers. But there are local markets where active listings have reach the pre-pandemic supply levels of inventory. Those markets are facing serious problems! There is very little demand at current prices (as demonstrated by rising inventory). I expect we will look back on this early warning signs of a national housing correction. You need to remember, the 2006-07 peaks started in a very similar manner, where demand/supply was out of wack in a handful of regions and as that market imploded, lending tightened and real estate crunch spread. Yes, owners have more equity then ever, and defaults are currently low, but that was also true in early 2006 and the years proceeding the peak. So things can change quickly, especially when inventory/demand is grossly out of wack in big pockets of the real estate market.

[kraxkill]

Look at m2 vs median existing sales price and stop guessing 😂. Affordability, days on market, inventory levels, price cuts from list, and rates don’t matter. They never have despite people’s false conclusions that they do. What matter are final sales prices. These non consequential metrics affect volume and therefore the pocketbook of the middleman. Therefore the market crash is in the pocket of the agent/broker. Home prices simply track inflation.

[Truebaconluver]

Just here to say no crash...Just cause someone wants it to crash doesn't mean it will

[kraxkill]

June median sales price just set a record. If you list a house 30% over market, leave it on the market longer, cut price by 20% and sell it for 10% over…the price still went up. Realtors need to stop representing the market with (volume) their own pocketbook which does in fact take a hit from reventure app style metrics like days on market, inventory change etc. Home prices simply track inflation, m2 and the expansion of money supply being REAL assets that home are. You can easily see the correlation in the post COVID m2 expansion, contraction and reaccelerstjon vs the median home sold.🎉