BIG Housing Market Update: Pending Sales Decrease Further

Homebuyer alert: Pending home sales in the US decreased compared to last month as well as from one year ago. This is thanks to a new housing market report that was just released. Is this a sign that the housing market is cooling off or will this decrease be temporary? In today’s housing market update, I discuss the latest real estate market news and I also share the latest housing update regarding mortgage interest rates because mortgage rates have been increasing significantly over the last 3 months.

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According to data from the National Association of Realtors (NAR), pendings dipped 2.3% from August 2021 and 8% from one year ago. In addition, all major regions in the US reported a reduction of contracts signed from a month ago AND from 1 year ago. The trend is closely following 2019 but pendings in 2021 still remain elevated.

To give you a quick mortgage interest rates update, according to the Mortgage News Daily the average 30yr fixed rate mortgage is 3.2% for the current mortgage rates (at the time of filming this video). 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 real estate agent and native
Realty ONE Group Complete (DRE 01923240)
jason@meetjasonwalter.com

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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.

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