Housing Market Begins NOSEDIVE as Realtors Face Worst Spring Selling Season on Record all while mortgage rates now solidly above 7 percent.
The 2023 housing market correction continues to play out as new home sales are at record lows. We analyze the newest housing market data just released by Redfin, and use our interactive maps to look at home prices in the local metros you requested in the last housing video. We cover home price changes in the Florida housing market, Tennessee housing market, New Jersey housing market, Utah housing market, Salt Lake City housing market, Boise housing market, and more.
If you are a home buyer or home seller this video is a must watch as we explain how the lack of mortgage backed securities demand is the principle market force that's causing higher rates. This is causing the 30 year fixed mortgage rate to surge over the past weeks, and companies like Blackrock are being asked to backstop new mortgages. We make the case in this video that mortgage rates will continue to increase over the coming months and quarters, and most realtors will face close to the worst spring selling season on record.
