What a wild year this has been. On 8/14/23, average 30 year fixed mortgage rates increased to 7.24%. That’s the highest level since early-November 2022 per the Mortgage News Daily. In recent memory, the last time rates were that high was in late-October 2022 but before that you have to go back 20 years!
Housing affordability remains near record lows due to the rise in rates but also from elevated home prices. Compared to a year ago the median sold price in the U.S. rose by 3% mainly due to an anemic supply of existing homes for sale and due to prices falling more sharply at this time last year compared to this year.
In regards to housing inventory levels, there’s 20k fewer homes for sale nationwide year to date. In contrast, the inventory of homes for sale grew by 314k during the same time period last year (January through early-August). I share this along with pending home sales, new listings, days on the market and more based on Redfin’s latest housing market update.
Additionally, the national median sold price has increased by 9% year to date (through the four-week period ending 8/6/23) per my analysis of Redfin’s data.
This is based on a new report from Redfin (link below). 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: www.realestateteamfinder.com
To give you a quick mortgage interest rates update, according to the Mortgage News Daily the average 30yr fixed rate mortgage is around 7.2% 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 My Gear I Use for YouTube: www.amazon.com/shop/jasonwalter Tubebuddy https://www.tubebuddy.com/jason808 Hire a Virtual Assistant Here (video editing) https://bit.ly/3lYRujQ
*** Jason Walter, CPA (lic 103885) Sacramento real estate agent and native Realty ONE Group Complete (DRE 01923240) [email protected]
➜➜➜ SUBSCRIBE FOR MORE VIDEOS ➜➜➜ To never miss a video about personal finance & real estate related topics, please subscribe & then hit the bell notification here ➜ https://bit.ly/31kAR73
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 Complete in California under DRE 01923240.
