Housing Alert: Latest Housing Market Update // In today’s real estate market update, I share the latest housing reports with you so you can get a glimpse into what’s happening right now in the US… AND what to expect in the months to come. Looking at these reports will help make housing market predictions 2021.
To give you a real estate market update, after the records that were set for pendings in Dec and January, pendings decreased 10.6% in Feb and all of the four major regions in the US experienced a month-over-month drop in pending home sales, led by the South with a 13% decrease. However, when compared to one year ago, the dip in pendings was less pronounced b/c pendings were down only 0.5% compared to Feb 2020. The reason for the month to month decrease is most likely due to record low housing inventory but rising interest rates may also play a role.
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In other news, The Mortgage Banker’s Association’s unadjusted Purchase Index decreased 1 percent compared with the previous week…. HOWEVER, it was a whopping 39% higher than the same week one year ago.
Lastly, to give you a mortgage interest rate update, current mortgage interest rates are averaging 3.42% for a 30yr fixed interest rate mortgage.
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 or do you think the housing market 2021 will continue to surge? Or is there a housing bubble and a housing market crash?
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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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