Realtor.com August 2024 Housing Market Update - Video

Homes are taking the longest to sell since 2020, the share of price reductions reached the highest levels since 2022 and inventory is growing.

For example, there’s a staggering 390k fewer homes for sale this July compared to the average July in 2017 through 2019 (down 31% but this gap has been narrowing as of late). However, housing inventory has grown by 33% year-to-date (i.e. January through July this year). For the same time period (Jan-July), this is far higher than 2023 (+5%) and the average January to July in 2017-2019 (+16%) but it’s not nearly as high as the giant growth in the number of homes for sale in 2022 (+83%).

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Compilation of Housing Market Forecast videos:
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The reports I covered in today’s video:
https://www.nar.realtor/newsroom/nar-statistical-news-release-schedule

https://www.realtor.com/research/july-2024-data/

➜➜➜ Looking to buy or sell a home in the greater Sacramento area? We would love to help! Email me at: [email protected]

To give you a quick mortgage interest rates update, according to the Mortgage News Daily the average 30 yr fixed rate mortgage is around 6.8% 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)
[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.

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 01923240 and NMLS 2566691).

For informational purposes only. This is not a commitment to lend or extend credit. Information and/or dates are subject to change without notice. All loans are subject to credit approval. Other restrictions may apply. Equal housing lender.

#realestate #housingmarket #Realtor