US Housing Market Update: Home Sales & Prices Dip Finally

Selling Real Estate
Housing Market Update: Home Sales & Prices Dip Finally // In today’s real estate market update, I share news that existing home sales AND prices dropped in November. I also share real estate market news about mortgage interest rates as well as other US economic news.

WeBull FREE stock promotion: Get FOUR free stocks (limited time promotion)
https://act.webull.com/kol-us/share.html?hl=en&inviteCode=cKJC65AjvHMM

According to Freddie Mac, the average 30yr fixed rate mortgage dropped to 2.67% which is an all-time low and the ~14th record low this year. This is one of the biggest real estate market news to report. What’s your housing market forecast 2021? Do you think there will be a housing crash?

The National Association of Realtors (NAR) just released November existing sales numbers and sales decreased after 5 straight months of gains. Sales were down 2.5% from the prior month and up 25.8% from 1 year ago. The median existing-home price was $310,800 (slightly below a record high), 14.6% more than in November 2019. However, inventory is down 22% from one year ago which has created a competitive real estate market. Median home prices increased at double-digit rates in each of the four major regions from one year ago. What I found very interesting is that compared to 1 year ago, home sales of $750k-$1M increased 85% and $1M+ houses increased 88%. It goes to show that not everyone has been impacted financially from this pandemic.

In other real estate market trends, new home sales fell 11% in November from October, according to the U.S. Census but sales were still up 21% from 1 year ago.

Consumer confidence tumbled in December to its lowest level since this summer amid a surging pandemic.

Comment below: what’s your housing market 2020 forecast? Do you think a housing crash 2021 will happen and there will be a housing crash or do you think the real estate market 2020 will continue to surge?

Products I use and like: ad
My webcam https://amzn.to/2QZMFZt
Clickfunnels https://bit.ly/2GvfNWp
Tubebuddy https://www.tubebuddy.com/jason808
Virtual Assistants https://bit.ly/3lYRujQ
AWeber https://bit.ly/3jRO7JY

My #1 recommendation for real estate licensing in California (the same course I took): ad
https://bit.ly/2EUYLRq

***
Jason Walter, CPA (lic #103885)
Sacramento Realtor/Sacramento real estate agent and native
Realty ONE Group Complete (DRE #01923240)
jason@meetjasonwalter.com
Follow me on Instagram ➜ @SacramentoRealtor

*** FREE Sacramento Area Home Buyer Guide ➜ https://bit.ly/2YjUnTJ
*** FREE Sacramento Area Home Seller Guide ➜ https://bit.ly/2x1uqZF

➜➜➜ SUBSCRIBE FOR MORE VIDEOS ➜➜➜
To never miss a video about personal finance & real estate related topics, please subscribe & then hit the bell notification here ➜ https://bit.ly/31kAR73

More of My YouTube Videos:

Why Aren’t Home Prices Dropping? Housing Market 2020

BEWARE – Why I Cancelled My Mortgage Loan Forbearance Offer

Mortgage Loan Forbearance Update (5 MAJOR CONS of Mortgage Loan Forbearance & More):

➜ PLAYLIST: Videos about Living in Sacramento
https://bit.ly/2TkXZSh

➜ PLAYLIST: My 5 Favorite Areas Near Downtown Sacramento:
https://bit.ly/2FNHTbT

Moving to Sacramento? Top 10 Reasons to Move Here:

5 Pros & Cons of Living in Sacramento:

Royalty Free Music from Bensound

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 Realtor with Realty One Group in California under DRE #01923240.

#housingmarket #realestatemarket #realestate

Articles You May Like

How much should my rental property cash flow? | Real Estate Investing
Robert Redford’s Utah Horse Ranch Hits The Market For $4.9 Million
Boxer Sugar Ray Leonard Seeks $46.5 Million For Mansion In Los Angeles
Homebuilder sentiment drops to 10-month low, as construction costs drive prices higher
💰💰Best Online Business to Start in 2020 With No Money: Make Money Online 💰💰

Leave a Reply

Your email address will not be published. Required fields are marked *