Housing Alert: Latest Housing Market Update

Housing Alert: Latest Housing Market Update // In today’s real estate market update, I share the latest housing reports with you so you can get a glimpse into what’s happening right now in the US… AND what to expect in the months to come. Looking at these reports will help make housing market predictions 2021.

To give you a real estate market update, after the records that were set for pendings in Dec and January, pendings decreased 10.6% in Feb and all of the four major regions in the US experienced a month-over-month drop in pending home sales, led by the South with a 13% decrease. However, when compared to one year ago, the dip in pendings was less pronounced b/c pendings were down only 0.5% compared to Feb 2020. The reason for the month to month decrease is most likely due to record low housing inventory but rising interest rates may also play a role.

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In other news, The Mortgage Banker’s Association's unadjusted Purchase Index decreased 1 percent compared with the previous week…. HOWEVER, it was a whopping 39% higher than the same week one year ago.

Lastly, to give you a mortgage interest rate update, current mortgage interest rates are averaging 3.42% for a 30yr fixed interest rate mortgage.

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?

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Jason Walter, CPA (lic 103885)
Sacramento Realtor/Sacramento real estate agent and native
Realty ONE Group Complete (DRE 01923240)
Follow me on Instagram ➜ @SacramentoRealtor

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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 Realtor with Realty One Group in California under DRE 01923240.

#housingmarket #realestate #homeprices

[JasonWalter]

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[natka]

You're my Sacramento local realtor, and I love these relavent videos and examples! Thanks for keeping us informed and up to date!

[originalk]

Keep up the great educational job Jason .we know that’s not your full time job. But we appreciate it

[nuritawwab]

I don’t understand why people put a thumbs down, are they upset at the video or the current housing situation. It’s silly

[StasiaReviewsStuff]

I like your videos b/c of your super happy and positive energy. It’s infectious. Keep em coming!

[makingitraln]

I think the dip in contract signings is simply no supply. My local area went from 3 new homes a day to 1 a day from January to March

[cyna]

I saw a report that there are more agents than there are homes for sale 😬😳

[ballbearing]

If you buy a home that's over price with a lower interest rate your under water for life . You buy a home that's price right with a higher interest rate you are not over your head . When the interest rates drop you can refinance .

[iddiyappam]

Thanks for the great content. I live in Northern Virginia and have been looking for a house for the past few months and it’s been a crazy market. That being said for the first time in months I will be looking at 6 house this weekend. Suddenly everyone and their uncle seem to listing their house for sale :) Builders are also building homes for delivery by Fall. I remain optimistic, I think we will see a turnaround around now with hopefully fewer bidding wars. My prediction is that April 2021 is when the housing market slowly turns in favor of the buyer.

[ownsilver]

Buying a house today would be very frustrating you pre-qualify for a loan you find a house you make an offer that matches your pre-qualification they refuse your offer and ask for a written bid UP price and they will contact you and don’t contact them. I’m damn glad I bought my house when prices and people were far more reasonable today I don't see how people will ever be a house owner they will always be stuck as a home buyer or renter

[saramohr]

Thank you so much for this video! I have shared it to help my clients better understand what is happening in the current market.

[CO_]

When rates go up rapidly, what should you do? No, it’s not hoping for a crash, it’s locking in the rate now before it goes up more.

[suboo]

Been wanting to buy a house for couple months now but the competition and lack of supply is killing it for me

[krassimirpetrov]

A quick look at Zillow in my area shows that every single house that closed recently sold over asking price

[RichCatinTown]

thank you for your videos, please keep us updated

[GenXhughes]

I gave up on buying. It’s is no longer affordable for me, even after saving 20% down.
I’m buying a mobile home. I’ll fix it up on a strict budget and see what happens.
If nothing else, I have a roof over my head.

[bkinouye]

Today's SFGate has an article about a home in Berkeley that sold for $2.3M which was $1M over its asking price. WTF!

[exploringedmonton]

What happens in the USA usually comes over the border to us here in Canada. I can see the market going into a more stability and equilibrium in Q3 and Q4 this year. We are just getting more listings than sales and inventory is going up slightly, with interest rates going up her in Ontario we should see our supply increase slightly.

[greensnmachines]

Saw an article of a house in Citrus Heights that received over 122 offers this weekend

[b]

Sacramento housing prices are over inflated due to silicone valley money work from home buyers and lack of inventory. Sacramento housing is dirt cheap compared to other towns in the area.