Products You May Like
Housing inventory is at its lowest level in nearly 40yrs and this is causing a housing crisis, according to the National Association of Realtors. As of the end of Feb for the US housing market, there were 1.07M units for sale and that equates to 1.8 months of inventory. We need 2.4M more homes to be listed for sale to have a six month supply of homes and therefore, a balanced market. Part of the reason why inventory is so low is that homes are selling at a faster pace than active listings in 70% of the metro areas. Another reason is because housing construction hasn’t ramped up enough for our US real estate market. This is partially due to the fact that prices for construction materials have skyrocketed.
The National Assoc of Home Builders announced a couple of days ago that prices paid for goods used in residential construction have increased 9.8% over the past 12 months. In fact, lumber and steel mill products have reached record highs. With these sky high prices, it’s causing some builders to hit the pause button on construction because permits pulled AND housing starts have decreased in February.
In the meantime, according to Redfin, home prices and the asking prices of homes BOTH reached all-time highs for the 4-week period ending April 4th. With home prices surging, a foreclosure crisis and an influx of foreclosures in the near term seems highly unlikely.
And to give you a quick update regarding mortgage interest rates, the average for a 30 yr FRM is ~3.3% and that’s down from the 52wk high of 3.45%, according to the Mortgage News Daily.
WeBull FREE stock promotion (get 2 free stocks for a limited time when you deposit $100 within 30 days of signing up):
https://act.webull.com/kol-us/share.html?hl=en&inviteCode=cKJC65AjvHMM
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 is your housing market predictions that the real estate market and home prices 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
Get 50% off Housingwire + (HW+) by using the coupon code: Jason50%off
My no. 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.
#Jasonwalter #housingmarket #housinginventory