Redfin: “Housing Market Activity is Plunging Further”

➜➜➜ Get Connected To a GREAT Real Estate Agent in Your Area

Compilation of Housing Market Forecast videos:

Source of article I discussed:

To give you a quick mortgage interest rates update, according to the Mortgage News Daily the average 30yr fixed rate mortgage is around 7.16% 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 (lic 103885)
Sacramento real estate agent and native
Realty ONE Group Complete (DRE 01923240)

➜➜➜ 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 with Realty One Group in California under DRE 01923240.

#housingmarket #Redfin #mortgagerates

[JasonWalter]

Looking to buy or sell a house in the US? Get Connected To a GREAT Real Estate Agent Here:


Products I use and like: #ad

[wreckim]

Thanks Jason. I never imagined we'd ever see 7% interest rates in this decade. Now, we might see 8%..wow. I imagine that the "cash is trash" era is officially over. Having a huge downP --or paying cash for a home--is certainly your friend in this environment.

[deadcell]

No fluff, no annoying intros, and straight to the point. This is one of the many reasons you are at the top of the list as my go to channel for the real estate market. Thank you.

[philipketchum]

November going into December the real estate market will simply go into hibernation. It won’t be a buyers market or a sellers market. There will be little to no new listings. Any small areas of drastic price declines will be gobbled up by investors and cash buyers. It’s gonna get real bad.

[xvx]

I just got preapproved for 6.25% so I don't know what the hell everyone is talking about these super high interest rates.

[jamesblazen]

First time homebuyer has been obliterated. I have to believe the only activity now is people selling then buying someplace else. It's more of a trade transaction than a purchase. Even this buyer will get frozen out because they won't be able to get their house sold. Housing is completely toast now.

[jmoneymillionaire]

If you live in an area with a lot of new construction, you will see substantial price declines from here. Spring will be where price declines really kickoff as stubborn sellers re-list only to find the home sitting on the market. Then the “rush to the exits” starts.

In 07, it was the same, literally everyone said “prices wont come down”. Then when they did, they said “its only little bump in the road but next spring prices will be higher”. We all know how that turned out.

[mrchadz]

housing is always slower in the fall and winter than in the summer. Summer is always busy, and people dont really like to move during the holidays... but none of this matters because home owners have A LOT OF CUSHION in their prices... super high! by double. and even more than double in some cases.

[Steverz]

This is the way l like to start my Saturday morning👍Coffee and listening to this channel 😊Keep the information coming Jason👍I have learned a lot here

[taralynnhoffmann]

The panic hasnt even started to set in yet. A lot of Sellers pulling out of the market or holding their price because they think a pivot will come in spring and prices will go back up. Lol

[jmoneymillionaire]

Look at your local median and average home price. If your home is below that mark, prices will be fairly stable. If you are above it, expect prices to collapse.

Interest rates and asset prices move inversely, and while a home is also essential for shelter, people will not pay anywhere near the same amount for an above-average priced home in a 7.5% interest rate environment as they would in a 2.8% interest rate environment.

Add in all the new building in pandemic boom towns in the sunbelt, I expect continued 2-3% month-over-month price declines in the above-average homes in these markets over the next 12 months - which annualizes to 24-36% declines.

[Mkluthe]

Just pulled out of the market. Interest rates are ridiculous. Some builders offered 20k of their price but that does nothing when coupled to 7-8% interest

[JuanRodriguez-qlzu]

Sellers can keep their overpriced house, only if they really need to sell then they need to drop the price. And if they can’t drop the price because they are underwater then…………….. FORECLOSURE.

[mukongshu]

I'm scared of spiders too... there're so many in AZ, lol, thanks for sharing the video, I just lost lots of money on RDFN stock...

[goobertgoobert]

We're going to need more supply. Starter homes can go for $250k still around Dallas and Houston on the outside of the metro areas. It's going to be the only way. If the government helps we need more supply not subsidizing of rates.

[stevelawrence]

Thankyou again Jason, the best research on the subject shared in a " matter of fact " way.

[mrchadz]

even with higher interest, the total real dollars you pay in interest can be LOWER is the Sale Price drops because interest is a percentage of the sale price. And with a lower sale price, the property values are lower and it pushes down property taxes too... AND with a lower principle, you can pay off a house earlier.. And save even more interest and secure your retirement.. Low interest has actually HURT affordability because it only caused the Sale prices to rise.. GREED! So I say, put it back the way it was before 2008

[wishicouldspel]

neighbor just listed his house yesterdays.

900k.

was for sale for 1.115 mil 2 years ago.

If the jerk had asked 1 mill he'd of got it back then. Won't go for a penny pver 800 now. if hes lucky. might be 750.

[RyanLundquist]

What a game-changer rates have been. This is causing a really sharp change in the stats too. It's been stunning to watch considering the market narrative one year ago when things were blazing...

[JSustain]

What s blow-by-blow accounting of this economic slide. Very informative, and forewarned is forearmed.