New Home Sales Crashed in MARCH - Housing Market Update

New Home Sales Crashed in MARCH - Housing Market Update

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Disclosure: Steve Daria is a real estate broker. He is NOT an attorney, accountant or financial planner or any other type of licensed professional. Always seek out the appropriate professionals in your area for the advice needed regarding taxes, law, construction and finance. Florida Real Estate Broker Lic# BK3030453.

#HousingMarketUpdate

[criticalthinker]

you don’t need to be a Yale graduate in economics to understand.
In Los Angeles a junky 2 bedroom house in a low income neighborhood is 850K, with 10% down and 6% interest rate the monthly payment comes to almost 6K including tax but not the utilities.
Most people in those neighborhood simply can’t afford to pay that much, how can this be sustainable with rates going up?

[LifeDealt]

Crashes have happened every 8-12 years since the late 1800's no matter the reasons forever debated . Boggles my mind we are still arguing if it's gonna happen and surprised when it does .

[aliyayen]

Can you give me a recommendation for someone who does a lot of research on the market in California please ?

[Sohkro]

Hey Steve, thanks for the content. I’m considering moving from Dallas Texas to Navarre Florida. Do you think it’s worth buying a new build home in this area during this time?

[jasonmagyar]

Steve I am interested in buying a property in cape coral if there is a downturn in the market. Does this area do well for vacation rental properties?

[timeforachange-is]

Interest rates should already be at 10% in order to curb the stupidity of what is going on with home prices. Shock the system - shut it down and get prices for homes back down to $200, 000 for a nice median value home.

[thisguymartin]

That is what should been happening. Crashing is not bad it is going down as it should be.

[crazyone]

The people who you are nervous for should not be buying a home. They know nothing about the upkeep and making the mortgage payment.

[shuzhenyan]

For everyone here thinking the housing price will drop… don’t wait it… you will lose…

[NurseDoc-Mrs.K]

I have a realtor from Lennar texting me almost every day now where as before, I couldn't even get to speak to someone.

[davecirelli]

I hope to buy in SW Florida when all this settles out, it just seems too risky to get in at this point.

[alicia]

What’s your take on buying land lots and building on your lot in Tampa suburbs with the current interest rates?

[mikewatson]

Sold my house in March 2022. Moving to Lee Country. I’ll rent for a year and then buy through your office.

[CyndyJ]

How would you know if you no longer qualified vs being told your new monthly mortgage just increased by $400? DTI was requested but not given.

[monica]

Ivy Zelman is the woman you are talking about.

[Natural-Blooded]

Question, how about appraisals? Are properties coming back because they're not appraising?

[jessicabixler]

That profit margin dosnt include things like ceo and contractor pay

[djjeffro]

Her name is Ivy Zelman—she’s a real estate goddess. (Bigger Pockets)

[nikkisharp]

We are about to see a 45-60% home price correction.

[msbethmildhyperbaricoxygen]

Thank you for explaining to people the finance side of buying. People really need to hear these details to help keep them from a foreclosure in the future. Just wait!!