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I’m waiting too! I’ve been looking for two and a half years but keep getting outbid by couples and old ppl (I’m single income no kids late 20s girl) I’m hoping I finally have a chance
Imagine my surprise when checking Realtor yesterday and seeing inventory DOUBLED since the last time I looked a few weeks back. Other cities close by increased by about 25%. This was our first increase in several months. Our area is finally catching up to Jason's data.
I honestly, like lots and lots of Americans, will not be able to buy until those prices at least " at least will come down to 70% " those investors are very bad people, besides most of Californian they sold their house running away from the corrupt State of California and came to Phoenix area and "jacked up the prices paying CASH 70-80% above the value" that is very bad. beside the interest rate is very high 7% that is ridiculous, AND the inflation- No jobs- high gas prices- high food prices, in conclusion I honestly will not even think of buying or renting until thing gose back to before 2019.
I was raised in an environment where home, land and gold were considered safe investments. Also, the time to buy a home for self to stay in is, ANYTIME. The big crashes came in 1837, 1873, 1929 and 2008. Typically, the prices may not rise sharply but it constantly and certainly creeps up and rarely creeps down and even more rarely falls sharply. Start with small, but start NOW if you are looking for a home for yourself to stay in, you can't time a market. Tomorrow, you will be paying a just a bit more.
I'm trying to figure out why my estimated home price is more then double what my mortgage was set for thankfully its a fixed rate. I'm just glad we have a home and are not trying to buy one. Nothing like getting approved and not being able to afford one in this economy. I don't get why house prices keep climbing.
I'm trying to wrap my head around it as well. Thankfully I'm not in the market to move and don't plan to give up what I have. Just trying to make sense of the market. As I do have a friend looking to sell and buy.
@@JasonWalter1 He doesn't seem to understand that A) It represents a year over year change , not week over week, B) he doesn't seem to understand what "rolling average" means C) He apparently doesnt comprehend that infinitesimal changes in the numbers won't necessarily be precisely reflected on those thick , goopy colored lines that redfin uses and that that is not a conspiracy
Since 1971, the average mortgage rate is a lil over 7%. So we are AT the AVERAGE, There's great deals out there, invest the time and find them like we did our house.
I agree. We paid off our debt, saved up, and are currently buying. Highest interest rate was 18%. We are nowhere near that. People got too comfortable with low rates, now they are paying in that they are stuck or they can't buy their next house. Folks who took care of their debt and saved up are winning right now! House prices only go up and folks are stuck where they are at with their low, low rates. Maybe that's not a good thing.
@@tsniebeling IKR, they let rates get stupid low, add to that people paying 100k PLUS OVER asking, NOT getting inspections and on and on. Then wanna wonder WHY they are in trouble. A lot of people in under water mortgages too. We bought our house at a great price and a great rate using an SSDI income, Bought through USDA, total note is less than 425 a month, 125 a month principal, $18 a month PMI which has been dropping every month We've been overpaying the principal ever since the first 1 was due. Already knocked a good amount of time off the life of the mortgage, Went to the tax assessor's office, the did double homestead exemption, raised deductibles on home owner's, Saw only a $12 a month increase.
@@winniethepoohandeeyore2May I ask where you bought and what kind of home you got for that price? Would really help us out if we could find something that affordable
@@alexmack956 USDA covers rural areas all throughout the USA. Look for properties that say qualifies for one hundred percent financing...That's a USDA property.
On a national level? Not going to happen. That would mean the median sold price would fall from roughly $400k to $240k. The last time prices were that low was Feb 2018 (per NAR) so you believe prices will drop to a 6 to 9 year low in the next few years?
If you look at the data it’s pretty obvious that the housing market is not going to do well over the coming years. Over 50% of homeowners can’t afford their payment, tons of people are in forbearance programs and have not been foreclosed on even if they haven’t made a payment in over a year (just wait until those foreclosures flood the market), FL and TX are already showing signs of cracking (super high inventory), Airbnb homes are losing money and investors are ready to offload inventory, the list goes on and on.
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Jason truly knows how to interpret data such as this. What a valuable recource! Thx to Jason for doing this for us.
Thank YOU!
Can we all agree that no one compares to Jason? I mean, raw non-biased data and real facts. Can’t get better than that! Thank you Jason!!!
Thank you Chris!
Dallas data not looking good. sales down, prices cuts up, inventory heading up
Another great update. Based on these data, I am waiting for a few more months before dipping into the market, need a house but not urgently 😊
Thank you for watching!
Yeah best thing to do is to wait right now
I'm in the same boat as you are!
Same. Stacking heavy
I’m waiting too! I’ve been looking for two and a half years but keep getting outbid by couples and old ppl (I’m single income no kids late 20s girl) I’m hoping I finally have a chance
Imagine my surprise when checking Realtor yesterday and seeing inventory DOUBLED since the last time I looked a few weeks back. Other cities close by increased by about 25%. This was our first increase in several months. Our area is finally catching up to Jason's data.
Seasonal
Fabulous work.
Excellent information.
Well done my friend
Thank you Rene!!
Woe. Housing is so unaffordable!
Hold on ignore the propaganda. It's all a game to these people. The evidence is everywhere.
I honestly, like lots and lots of Americans, will not be able to buy until those prices at least " at least will come down to 70% " those investors are very bad people, besides most of Californian they sold their house running away from the corrupt State of California and came to Phoenix area and "jacked up the prices paying CASH 70-80% above the value" that is very bad. beside the interest rate is very high 7% that is ridiculous, AND the inflation- No jobs- high gas prices- high food prices, in conclusion I honestly will not even think of buying or renting until thing gose back to before 2019.
Lots of great info. Happy Cinco Jason 😊
Thank you! Happy Cinco de Mayo
Does the ATH monthly payment include PITI or just P&I?
Good question. I did the math a while ago and I believe it’s PITI. Anyone hear know?
I was raised in an environment where home, land and gold were considered safe investments. Also, the time to buy a home for self to stay in is, ANYTIME. The big crashes came in 1837, 1873, 1929 and 2008. Typically, the prices may not rise sharply but it constantly and certainly creeps up and rarely creeps down and even more rarely falls sharply. Start with small, but start NOW if you are looking for a home for yourself to stay in, you can't time a market. Tomorrow, you will be paying a just a bit more.
Good Sunday morning Jason👍
Good morning Steve!
I'm trying to figure out why my estimated home price is more then double what my mortgage was set for thankfully its a fixed rate. I'm just glad we have a home and are not trying to buy one. Nothing like getting approved and not being able to afford one in this economy. I don't get why house prices keep climbing.
2000 bought my home 8.25, years before 10 amd 12%
Supply is going up and demand is going down. Yet prices continue to go up.
I'm trying to wrap my head around it as well. Thankfully I'm not in the market to move and don't plan to give up what I have. Just trying to make sense of the market. As I do have a friend looking to sell and buy.
I just refuse to pay $50 k more than what i have to on top of the ridiculous interest rates
Hi Jason. Can you please teach Mr. Mindset how to read a redfin graph? Lol
Haha
How so?
@@JasonWalter1 He doesn't seem to understand that A) It represents a year over year change , not week over week, B) he doesn't seem to understand what "rolling average" means C) He apparently doesnt comprehend that infinitesimal changes in the numbers won't necessarily be precisely reflected on those thick , goopy colored lines that redfin uses and that that is not a conspiracy
@@HappyandBlessed-wj7gc Why bring him up here?
@@HappyandBlessed-wj7gc He can do the "Elaine Dance", though.
Fire whoever told you those glasses were a good idea.
It’s the same episode every show and I keep tuning in… one day I’m going to kick this habit!
Me too 😂. Thanks Jason!
No changes.
Since 1971, the average mortgage rate is a lil over 7%. So we are AT the AVERAGE, There's great deals out there, invest the time and find them like we did our house.
I agree. We paid off our debt, saved up, and are currently buying. Highest interest rate was 18%. We are nowhere near that. People got too comfortable with low rates, now they are paying in that they are stuck or they can't buy their next house. Folks who took care of their debt and saved up are winning right now! House prices only go up and folks are stuck where they are at with their low, low rates. Maybe that's not a good thing.
@@tsniebeling IKR, they let rates get stupid low, add to that people paying 100k PLUS OVER asking, NOT getting inspections and on and on. Then wanna wonder WHY they are in trouble. A lot of people in under water mortgages too. We bought our house at a great price and a great rate using an SSDI income, Bought through USDA, total note is less than 425 a month, 125 a month principal, $18 a month PMI which has been dropping every month We've been overpaying the principal ever since the first 1 was due. Already knocked a good amount of time off the life of the mortgage, Went to the tax assessor's office, the did double homestead exemption, raised deductibles on home owner's, Saw only a $12 a month increase.
@@winniethepoohandeeyore2May I ask where you bought and what kind of home you got for that price? Would really help us out if we could find something that affordable
@@alexmack956 USDA covers rural areas all throughout the USA. Look for properties that say qualifies for one hundred percent financing...That's a USDA property.
Mahalo 🌴👍🏽🤙🏽🇺🇸
Good morning!
Home prices will decrease by 40% within the next 3 years.
On a national level? Not going to happen. That would mean the median sold price would fall from roughly $400k to $240k. The last time prices were that low was Feb 2018 (per NAR) so you believe prices will drop to a 6 to 9 year low in the next few years?
@@JasonWalter1 YES
The crash is coming look at the prices of homes across the states.
1😊
Happy Sunday!
Bad time to buy, crash incoming, going to be cheap soon
😂😂😂😂 😅😅😅Your Delusional
When and how soon I'm waiting 😂😂
If you look at the data it’s pretty obvious that the housing market is not going to do well over the coming years. Over 50% of homeowners can’t afford their payment, tons of people are in forbearance programs and have not been foreclosed on even if they haven’t made a payment in over a year (just wait until those foreclosures flood the market), FL and TX are already showing signs of cracking (super high inventory), Airbnb homes are losing money and investors are ready to offload inventory, the list goes on and on.
@@sarahowens2494 This seems so.
People have been saying that since 2020. It's going to happen, just wait!
Bidenomics at work