The housing market is seemingly cooling as inflation and higher interest rates impact homebuyers. Homes are increasingly selling at a slower pace, down to 21 percent since January, according to the National Association of Realtors. Mortgage applications also just hit their lowest point since 2000. Despite more homebuyers backing out, the median home price hit another high last month at $416,000.
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Welcome democrate 😀😀
Thanks for the recession Joe Biden.
This may be true in some parts of the country, where I live houses are pending a few days after being listed!
Rates were 2-3% for a short time and unsustainable. 5-6% is not a cataclysmic mortgage rate, still far lower than most other debt as it should be. Housing prices are the bigger issue but that is determined by supply and demand, which depends on your product, specific region, and time of year. The over-dramatization of market corrections is truly disappointing coming from masters degreed and up people who clearly know all this. This is why no one trusts the media anymore, because we know you know better.
Real estate crashing 40% wouldn't even be a crash… it would be 2019.
Sellers didn’t have a problem when the pandemic brought more buyers to the market and now they have a hard time swallowing the new reality!
Hope it crashes! Us single families need a break
>inflation is calculated using the current CPI model. I am pretty sure that if you used one of the older models from the 90's then inflation is probably well above 10%
LoL
No one ever reports on buyer demand…buyers already bought 1 or 2 years ago. the demand got pulled forward.
Inflation is due to no protection for buyers from large corporations who are buying up entire communities to force people to rent. The second part of the inflation is the stupid buyers who are willing pay these prices and live above their means. Nobody is forcing people to buy. If buyers are willing to enter themselves into a bad, inflated, bank breaking deal… then it is your own fault. Learn to be patient, and settle for a bit less.
"A house is just a place to keep your stuff while you go out and get more stuff"
-George Carlin
HAHAHAHAH.. SO YOU GUYS WANT US TO CATCH THE FALLING KNIFE?? LOL FU
This is bogus. Rates will need to go 25% before the market cools off.
Ha ha, all of your real-estate investments are getting ready to tank, greedy f’s. I will just wait for you to foreclose and bam. Pennies on the dollar.
Hope the market crashes
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Depression democrats….. wake up. Yea Biden the problem
How does a teacher have over a million dollars to offer on a house? It has to be mostly her husband's money or money she inherited. Aren't teachers always complaining how they make so little for what they do? Even though they have more vacation time than anyone else?
every house that goes up for sale around here is under contract 2 or 3 days after it's listed. there's no way anyone shopping for a home could make a decision to buy a house that quickly.
https://www.youtube.com/watch?v=khpmkNfx0Rk&ab_channel=PBSNewsHour
If everyone stops buying, you'll see just how fast prices come down – it's always the way. Then again, people are morons, which is why during a pandemic, the buying went through the roof. If people would stop behaving like idiots, we wouldn't be where we are today.
Refinanced to 15 year almost a year ago at 1.89%. I’m good