What Spring Home-Buying Season? Existing Home Sales are Dismal

Despite an increase in the number of homes for sale in the United States, existing home sales fell. Housing inventory in April 2024 increased to the highest levels since October 2022 and the highest levels for the month since April 2020. Meanwhile, the US median sale price increased by nearly 6% from a year ago but those home price gains may lose momentum due to the rise in mortgage rates and inventory.

In today’s video, I provide all the details including my own analysis of home sales and home prices using the National Association of Realtors’ (NAR) data. Link is below for the report I went over in today’s video.

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Compilation of Housing Market Forecast videos:
https://youtube.com/playlist?list=PLiQQpOejscIcBF1Jw2zG6Uvg7qDav_oGi

Reports I covered in today’s video:https://www.nar.realtor/newsroom/existing-home-sales-retreated-1-9-in-april
https://www.nar.realtor/newsroom/existing-home-sales-descended-4-3-in-march

https://fred.stlouisfed.org/series/MSPNHSUS

To give you a quick mortgage interest rates update, according to the Mortgage News Daily the average 30yr 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?

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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)
jason@meetjasonwalter.com

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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.

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 02174879, NMLS 2362319).

#homeprices #Realtor #housingmarket

Видео What Spring Home-Buying Season? Existing Home Sales are Dismal канала Jason Walter