This is NOT Good for Homebuyers: Housing Market Alert

This is NOT Good for Homebuyers: Housing Market Alert
Buying Real Estate



This is NOT Good for Homebuyers: Housing Market Alert // Here’s the latest housing market 2021 update which should serve as a warning for home buyers for the 2021 housing market.

Video I mentioned: EXTENDED Again! Forbearance + Foreclosure Moratorium & Eviction Moratorium https://youtu.be/s0V3FHKqhLg

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For the latest housing market update and according to the National Association of Realtors, existing-home sales increased 0.6% from the prior month and 23.7% from one year ago. The US median existing-home sales price rose to $303,900, 14.1% higher from one year ago. As of the end of January, housing inventory fell to a record-low of 1.04 million units, down by 25.7% year-over-year – a record decline for our real estate market 2021.

Mortgage rates have started to increase in recent weeks. Freddie Mac recently announced that the average 30yr fixed rate mortgage rose to 2.81%. This is still only slightly above the record low but are more increases to come and would that cause a housing market crash 2021?

Comment below: what’s your housing market 2021 forecast and housing market forecast 2021? Do you think a housing crash 2021 will happen and there will be a housing crash due to a housing bubble or do you think the housing market 2021 will continue to surge?

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Jason Walter, CPA (lic 103885)
Sacramento Realtor/Sacramento real estate agent and native
Realty ONE Group Complete (DRE 01923240)
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37 Comments

  1. To never miss a video about real estate and personal finance topics, subscribe to my channel & then hit the bell to be notified when I post a new video HERE ➜ https://bit.ly/31kAR73

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  2. I rather have prices go lower because of higher interest rates than have prices shoot to the moon because of low interests. No matter what the monthly payments will be expensive because everybody’s is competing with each other for the same amount of dwellings.

  3. After see your videos and other Real estate agent videos , I think people are not buying houses they are buying monthly payment , if they are paying the same for rent they can pay the same for a mortgage

  4. Not 100% sure how accurate the information is on interest rates that you reported is. I have a couple of friends who just refinanced and got their interest rate down 1 to 1.5 percent from their current rate. A few who refinanced even had the closing/processing costs waived.

  5. I saw a statistic for renters that 12 million of them owe at least $6000 in back rent. I think it’s mostly because of the evictions moratorium. Once they get evicted, how will that effect home ownership if at all? Can a video be done explaining how those evicted people will effect home inventory?

  6. Hey Jason, have you ever thought about the inevitable automation making it harder for people to make mortgage payments due to job loss in the years/decades to come?

  7. Jason who are buyers now ? who can afford those high prices and conventional loans, what is down payment ? 3%,10% or 20% etc … all this ppl buying must be CEO, directors , doctors …. all this is weird to me

  8. I'm a fha. I offered 369k on a home. 20k more than asking. I have down, and closing. Still can't get a home. Been on the hunt since June. I'm just under 700 for credit score. I run a preschool. Been solid since we opened 4 years ago.

  9. Hi Jason,

    I truly love your detailed statistical data.

    Unfortunately making financial decisions based on the statistics is like driving a car watching in the rearview mirror.
    Let's make an effort and remember how the economy looked like 12 month ago: flight cancelations, lock downs starting, crash of the stock market, prohibited open houses etc. The statistics look great Y/Y if we suffer by memory loss. What no one is paying attention to is the bond market and the inflation risk. Forget about CPI brainwashing data. See copper and gasoline price. They are not only super high, but together with all the other commodities, they have VERRY inflationary effect in all other goods an services. The Bond Kingdom is reacting accordingly. YIELDS ARE GOING UP! This causes mortgage interest to go up and demand of houses to go down. Another 6 month and we will compare the home sales to the summer of 2020 and they wont look good. This will affect a lot the market sentiments and FOMO will turn into FOGB (fear of going bust).

    For the home buyers: BE PATIENT!

    Blessings,
    Sebastian

  10. Love that new NAR graph. I have one like that for Sacramento and it's the same dynamic. More at the top. Less at the bottom. The K-shape is real too as market recovery is not even for everyone.

  11. So IF covid is as deadly as the "left" claims it was… would that not mean that there would be many deaths resulting in many new vacant homes that estates would then sell off which would then flood the market… lets get back to a safer new normal and by doing so the housing market should gain listings which should calm prices down a touch

  12. Markets are cyclical, but we have been brain washed into believing that the feds have engendered a new recession proof system, that only moves one way UP! But regardless of historically low interest rates, lack of supply and QE infinity, I personally am seeing some red flags. Namely greed and euphoria. FOMO "Get in an asset, get on the zip line to heaven." " The only better time to buy than today was YESTERDAY!" When you look at history crashes have always been preceded by greed hysteria and euphoria. They say savers are losers, yes if you have your money in savings, returns are low because of low interest rates. But what people are forgetting is that smart money knows when to get out of the markets. When markets crash smart money gets the deal. The rest run to cash when it's too late. That's when everything goes on sale. Temporarily the dollar gets STRONGER!! The millenial generation has not experienced a crash in their adult lives. But they are the generation that will experience the biggest crash America has ever seen in history. And the Feds cant stop it! I dont know when it will happen, but I'm hoping sooner than later. Not because I'm hoping to scoop up deals but because the longer we wait, the more painful it will be.

  13. The fact that Gavin Newsome made a new law in California giving the state first right of refusal so buy foreclosures tells me that he’s expecting a crash in the near future. It’s absolutely evil

  14. If sales are skyrocketing for rates $750k+, that leads me to believe the banks are buying them up and sitting on them. If my hunch is correct, be ready for another bubble because banks just don’t learn because we, the taxpayers, keep bailing them out. I’m sick of this bs. There is a limit for sales to be ridiculous based “location,” because the material and construction itself does not warrant these outrageous prices.

  15. This is not taking into account house 🏡defaulting on payments once COVID support is ending, leading to increase in supply. Also the impact of many SMEs shutting down permanently as unable to survive, leading to higher unemployment which means less people bidding for houses

  16. I realize this is gonna be an unpopular opinion but I hate real estate investors. They ruin life of regular people and drive prices higher and higher. They get richer and we get poorer. It feels like the only way to survive is to become them? I really don’t want to

  17. It is a buyers market…. you sell your house to do what? Buy another overpriced house somewhere else…. unless your leaving the country and buying a home in a cheaper economy … whats the benefit to homeowners?

  18. If you are having a hard time keeping your home financially, it should be treated as the SAME as ANY OTHER INVESTMENT.
    As a millennial who takes much effort and thought into my finances, I know my risks and the rewards that come from them.. willing to accept the OUTCOME.
    There’s a shortage of inventory at the moment, but govt needs to gtfo of the system.. let failures occur.

    If they’re trying to destroy the whole system of ownership to save those who did not properly allocate their resources to protect against unforeseen challenges, so be it.

    Idiots buying at these insane prices better not get a handout when the crocodile tears start pouring due to unaffordability.

    -Triggered millennial

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