Realtor.com June 2024 Housing Market Update

What a wild housing market we have as some new alarming trends are emerging in the U.S. housing market. For example, there’s 410k fewer homes for sale this May compared to the average May in 2017 through 2019 (down 34% but this is better than the 38% gap this March). However, housing inventory (i.e. the number of existing homes for sale) is up by double digits from a year ago and has reached it’s highest May level in the past 3 years.

Thank you for watching the video! I appreciate you. Please like, share this video and subscribe!

➜➜➜ Get Connected To a GREAT Real Estate Agent here anywhere in the USA:

Compilation of Housing Market Forecast videos:

➜➜➜ PLAYLIST: Videos about Living in Sacramento

The report I covered 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 7% 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?

----------------------------------------------------------------------------------
Products I use and like: ad

***
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)

➜➜➜ SUBSCRIBE FOR MORE VIDEOS ➜➜➜

➜ PLAYLIST: Videos about Living in Sacramento

Royalty Free Music from Bensound

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 01923240 and NMLS 2566691).

#realestate #housingmarket #Realtor

[thesoccertrotter]

Great video Jason, I literally tweeted at you this morning about this but seems like you're not active there. Great minds think alike

[carnivalgods]

Interesting data Jason. Judging by where we started in this January, 900K inventory is very much on the table this year. Quite a transition from the last few years. Appreciate the great work.

[osqmnbk]

Thank you Jason for compiling & sharing your inventory and real estate facts. Some may not like it but "facts are facts" and your presentation is the best ❤️💯

[reverendbebop]

Great info. The problem for me is no matter the level of inventory, it seems people are still overpricing their houses by 300% of their value in 2017-2019. Even worse, people are paying the over inflated prices. At what point do the prices start to come back to normal?

[charder]

That active listings graph is beautiful. Looking like the inverse of 2020 although we will see if that coorilation continues throughout the rest of the year

[TarmacSkin]

Amazing analysis! Thank you for all that data analysis… Invaluable Information!!

[MavRick]

As homes go for sale in my subdivision, they quickly get bought.

[seerguru]

Your awesome o listened twice . Ok so it’s fair to say we need to compared 17-18-19 to now . The covid time was insane . So inventory is down . Even tho prices are up and rates . Over all inventory is down. Some of the best economists expected prices to drop when rates went from 3 to 7% and they did not. Very interesting

[mike]

It would be nice if you could chart the buyers, I believe this would give a better outlook on the market.

[ahealthyyouwithdoctornew]

Viewing from their websites, it appears that new homes in Atlanta are sitting for extended periods of time. What do your stats say?

[chendry]

Hey man, love your videos, longtime fan. I’m curious if you can do one on Utah’s market? Specifically southern Utah. St. George has been one of the fastest growing metro areas in the US for many years and seems unfazed by everything going on in the rest of the country. Very strange market here. Thank you for all your wisdom.

[maxfrenn]

The probability of inventory increase is high nationwide. However, it won’t happen super fast.

[Icecoldbob]

For me living in the central midwest which is a slower cheaper market, I tend to review by the average price per sqft rather than the nation average house price. Having traveled to different states and I grew up in Sacramento too, even like here in Oklahoma the types of houses and models are different blueprints and sizes. I'm also looking to invest or moving the future so it gives me an idea of the cost difference with different states having different job markets and economic impact. The price per square footage on a house in different cities shows a lot more details in affordability.

[josephguastella]

Cash will carry hold on and wait #newrich

[JGENIUSFOX]

I usually buy home in the Winter season when prices are low. Hoping for the rate decrease here soon as well.

[georgekraus]

Properties in Frederick Maryland are hot now in June 2024. My niece who works for AC/Heating company told me that more than 80% of their business are in new home constructions.

[thinkingimpaired]

Housing market will most likely be positive from November 2024 on.

[TheExtaliber]

in florida just about every house is way over 100 days on the market with nothing but price decreases and now the zestimate is always 10-30k lower than what people are posting their homes for. Thing is even if they drop them to the zestimate levels theyre still in a bubble and everyone knows that thats why theres near 0 new home buyers and its all a paper tiger propped up by people moving from one bubble house to another bubble house. You buy a home right now youre gonna lose money on it bigtime no1 is playing that game. Renting is cheaper than buying and doesnt break even till year 20 lmao.

[mrl]

It's all about the data, that is what leads to the conclusion.

[robnowe]

Jason... how are u calculating your YTD Changes? 787, 722-582, 441 ≠ 120, 1553. Sales from April to Jan is not YTD... Jan 2024 compared to Jan 2023 is a YTD change.