Based on a new report from Redfin, the share of price reductions from home sellers increased to an 18-month high. Homes are also taking longer to sell on average compared to last year and pending home sales fell to at least a 3-year high for late-May. Plus, housing inventory is at least a 3-year high for late-May as well. All these metrics are pointing to softening home prices in the coming months. Meanwhile, the US median sale price reached a new record high.

In today’s video, I share the latest housing market trends for the United States based on Redfin’s latest housing market update (link below).

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Video I mentioned about reasons why the US median sale price has been increasing:
https://youtu.be/wGQ3gv9ighs

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Compilation of Housing Market Forecast videos:
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Sources of the Reports I Shared in Today’s Video:
https://www.redfin.com/news/housing-market-update-sellers-drop-asking-prices/

https://www.redfin.com/news/data-center/

https://www.mortgagenewsdaily.com/mortgage-rates

https://www.showingtime.com/daily-showing-activity/

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

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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).

#Redfin #realestate #housingmarket