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Realtor.com posted that our hot housing market may be behind us as they are started to see a slow down in our real estate market from peak levels.
To add to that, Redfin announced that pending home sales are still increasing but the rate is slowing down. In addition, active listings have started to creep up from peak lows this year.
On top of this, the National Association of Realtors (NAR) reported that existing home sales have declined for 4 consecutive months despite inventory of existing homes increasing for 3 months in a row.
Additionally, new home sales have now fallen to their slowest pace in a year – a drop of 5.9% from April. In addition, new housing inventory has increased for SEVEN straight months per the Census Bureau’s most recent report.
To give you a quick mortgage interest rates update, according to the Mortgage News Daily the average 30yr FRM decreased to 3.20% today for the current mortgage rates. This is mixed news if you’re a homebuyer right now or if you’re a homeowner looking to refinance.
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, a 2021 housing market crash 2021 or are your housing market predictions that the real estate market 2021 and home prices 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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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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