Definitely looks like things are getting worse in Texas and Florida. Any thoughts on the drivers of the increases in the Midwest and NorthEast. Is it just lack of inventory, people migrating, or is there something else going on? And thanks for keeping us informed.
I'm doing business in both of those states and I would say TEXAS is seeing some price softening (more of a return to normalcy and giving back some of gains). In FLORIDA you are seeing even more softening as insurance issues and lack of demand is causing many homes (and tons of condos) to sit on market for a long time and ultimately sell at a discount. Cheers!
Thank you for your question. The main drivers of the price increases in the Midwest and NE is from a low level of homes for sale. Much of the homebuilding ocurrs in the South. Home sellers (of existing houses) in the NE aren't competing as much against brand new homes.
Please keep us posted on your experience in house hunting. Also, the President doesn't have the ability to lower or raise interest rates. The Federal funds rate is controlled by the Federal Reserve and that has more of an impact on short term interest rates such as savings accounts, new auto loans, credit cards, etc. In contrast, mortgage rates fluctuate based on Mortgage Backed Securities (MBS) and the yield on the 10yr US Treasury bond: in other words, by investors in the bonds market.
For Trump to affect interest rates, he would need to walk back tariffs, increase income tax, and convince the narrowest repub majority in history to cut spending The bond market doesn't care if trump wants to cut interest rates and make homes affordable, they just don't want to lose money.
I am not sure the interest rates will drop in the near term. The Fed has lowered their rates, but mortgage lenders are not dropping as fast. Perhaps there are too many defaults in the system which raises the risk profile. Maybe Jason knows more about this disconnect.
Good morning everyone! Hope you have an awesome day!
Great day
#1
Good morning Jason
#RealEstateIsLocal
#LetsGetNerdy😊
Good morning! 😀
Thank you for the update Jason
Thank YOU very much for watching the video and for supporting my TH-cam channel.
Good morning. Im a first time home buyer looking to buy a house near sacramento any advice?
Yes I have a ton of advice. Send me an email
jason@meetjasonwalter.com
Good morning.
Morning!
Home prices continue to increase in Clark County Washington.
Definitely looks like things are getting worse in Texas and Florida. Any thoughts on the drivers of the increases in the Midwest and NorthEast. Is it just lack of inventory, people migrating, or is there something else going on? And thanks for keeping us informed.
I'm doing business in both of those states and I would say TEXAS is seeing some price softening (more of a return to normalcy and giving back some of gains). In FLORIDA you are seeing even more softening as insurance issues and lack of demand is causing many homes (and tons of condos) to sit on market for a long time and ultimately sell at a discount. Cheers!
Climate Migration
Thank you for your question. The main drivers of the price increases in the Midwest and NE is from a low level of homes for sale. Much of the homebuilding ocurrs in the South. Home sellers (of existing houses) in the NE aren't competing as much against brand new homes.
Seasonality. Come spring expect a boom, demand is still very high in majority of the markets across Texas and Florida.
@@straightdrive6192 I don't know about Florida, but in Texas in the Austin area demand has been way down for well over a year. Prices are dropping.
Punta Gorda here! Prices still need to fall more.
Now I won’t be able to afford my Rockford, il dream home 😆
The growth in prices over the past year is remarkable :/
@ With a depressed industrial economy 🤔
Long term Treasuries just jumped! 2025 will be about massive debt servicing.
Do you really think every home in California went up 1.9% in 2024?
Thank you for your comment. I’m confused though… where did you get that from?
@ one video said California home prices were up 1.9%
Finally buying this summer hopefully trump lower the interest rates and I get a really good deal.
Please keep us posted on your experience in house hunting. Also, the President doesn't have the ability to lower or raise interest rates. The Federal funds rate is controlled by the Federal Reserve and that has more of an impact on short term interest rates such as savings accounts, new auto loans, credit cards, etc. In contrast, mortgage rates fluctuate based on Mortgage Backed Securities (MBS) and the yield on the 10yr US Treasury bond: in other words, by investors in the bonds market.
For Trump to affect interest rates, he would need to walk back tariffs, increase income tax, and convince the narrowest repub majority in history to cut spending
The bond market doesn't care if trump wants to cut interest rates and make homes affordable, they just don't want to lose money.
I am not sure the interest rates will drop in the near term. The Fed has lowered their rates, but mortgage lenders are not dropping as fast. Perhaps there are too many defaults in the system which raises the risk profile. Maybe Jason knows more about this disconnect.
🤙🏽
Aloha!