Housing Alert: Latest Housing Market Update and Predictions // In today’s real estate market update, I’m going to share the latest housing reports with you so you can get a glimpse into what’s happening right now in the US… AND what to expect in the months to come for our housing market housing market predictions 2021).
In real estate market news, according to the National Association or Realtors (NAR), pending home sales fell 2.8% from Dec 2020 to Jan 2021. However, contract signings rose 13% from one year ago, with all regions showing sales gains. The Pending Home Sales Index hit 122.8, an all-time high for January.
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In my opinion, the reason why pendings have decreased in recent months for the housing market 2021 is for two main reasons: 1) Due to historically low inventory, 2) Due to the seasonality of our real estate market and 3) Our spring buying season was delayed into the summer and fall months.
To give you a mortgage update and other real estate market trends, according to the latest data from the MBA, mortgage applications for new home purchases increased 18.9 percent compared from a year ago. In addition, compared to December 2020, applications increased by 17 percent.
Lastly, to give you a quick mortgage update, the average 30yr fixed rate mortgage is 2.97%.
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 or do you think the housing market 2021 will continue to surge? Or is there a housing bubble and a housing market crash?
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Jason Walter, CPA (lic 103885)
Sacramento Realtor/Sacramento real estate agent and native
Realty ONE Group Complete (DRE 01923240)
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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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