The huge decline of new listings is becoming a bigger and bigger issue as homeowners are reluctant to give up their low rates. In addition, we’re still seeing fewer contracts being signed between buyers and sellers this year compared to the past couple of years. This is causing inventory to decline lately which is causing bidding wars (at times) in some markets such as Sacramento, CA. Meanwhile the US median sold price has increased by 6% over the past couple of months despite that it has fallen year-over-year for 7 consecutive weeks.
In today’s video, I share a new report from Redfin with an update on home prices, sales, days on the market and more. Thank you for watching the video! I appreciate you. Please like and subscribe!
To give you a quick mortgage interest rates update, according to the Mortgage News Daily the average 30yr fixed rate mortgage is around 6.5% 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?
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*** Jason Walter, CPA (lic 103885) Sacramento real estate agent and native Realty ONE Group Complete (DRE 01923240) [email protected]
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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.
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