I contributed to this uptick by purchasing a quadplex as a rental when I could lock in an investor loan at 6%.I bought it 15% below asking after 7 weeks of negotiations. At today’s rate, for the same amount of cash flow I would need it to be 23% below asking, which I don’t think would have been accepted. Rates matter!
As long as the inventory of lower tier homes stay low, the median price will bump up due to there being more inventory of 500k+ homes. It does not mean your house value is up by that percent. Also, 2021 there were over 6 million sales and October of 2024 it’s at 3.9 million. We have a long ways to go if we want to see the flat line move up or down.
@@Kurplode The "data" has backed up no such thing for months. There was literally ONE month several months ago where that "maybe" could have been said. But not since. Travis.
@Kurplode Nothing "scary" about the 6.4% year over year increase in prices Travis. And black knight says no such thing. And neither does NAR which is where black knight data mines that info from. You're just lying. Again. Keep renting.
Every report can be different so I’m just sharing as they come in. This is a lot better than a UA-camr sticking to a narrative in my opinion (the housing market is going to crash).
2.9% year over year, and 3.4% monthly gain is good news. But let’s put the seasonally adjusted annualized existing homes sales level of 3.96 in perspective. In Jul-1995 there were also 3.96 million existing home sales. There were about 64 million owner-occupied homes then compared to about 87 million owner-occupied homes today. That’s an increase of 36%. Multiplying 3.96 by 1.36 equals 5.39 million existing homes. Since Jul-1995, just over 29 years have passed. In those 350 months there have only been 17 months in which existing homes sales were at a lower level. That’s less than 5%. And they included seven months between Sep-2023 and Sep-2024 (today’s stagnant housing market), May-2020 (nadir of pandemic), Jun-2012, Jul-2010-Oct-2010, and four months between Nov-2008 and Mar-2009 (all during the housing bust of the Great Recession). So I’m not particularly optimistic that this will be the end of the great “housing market stagflation”. Remember Mortgage rates in Sep-2024 were below those in Sep-2023. Today they are above last year’s rates, and I don’t see how that will change anytime soon
The first politicians that would block that move, allegedly, are for foreigners not even coming here at all. Wealthy investors are always welcomed. It's sick, I could say more, but this is a wholesome channel here.
@@luisdavidllense2293 I'm having coffee her in Davis, CA. There are 3 professionals talking about how they lost their jobs 4 months ago from an IT firm. None can find a job. Their severance is just about out and they have no idea how they are going to pay the mortgage next month. This is just in NorCal. Talking with my friends in DC who work for the FED they are anticipating a hiring freeze and many GS folks to lose their jobs as well. Add in the mass deportation expected in the coming months which will disrupt home buiders who rely on immigrant workers and agriculture food is going to get really expensive. The add in the war with Iran that is looking to pop off late 2025 and you will see the entire economy is about to collapse. Buckle up and do what the rich are doing...start hoarding cash.
My guess is there won't be a surge of foreclosures because homeowner equity is near record highs and there's no signs that prices are going to crater. Meanwhile unemployment rate is still historically low.
Yes, my home value has been falling since 2021. In the last 30 days it increased 6.5% I see no other reason that happened other than Trump winning the election.
@@DevilTravels The answers aren’t on ABC, CNN or MSNBC … detox from cable news. Catch up, independent news is providing more of the truth and facts. It’s a significant reason Trump won. You’d realize that the whole Biden admin was a sh*t show from the beginning. People are no longer tolerating all the corporate propaganda news outlets. Also, other than boomers, why watch cable news? Their relevancy is diminishing fast. Also, you can’t be on social media platform like Bluesky and think you’re informed. That’s just an echo chamber for sad disgruntled pre-Musk Twitter users and celebrities that don’t like Trump. Ridiculous 🙄
I’ll take my 4% thank you very much.
I contributed to this uptick by purchasing a quadplex as a rental when I could lock in an investor loan at 6%.I bought it 15% below asking after 7 weeks of negotiations. At today’s rate, for the same amount of cash flow I would need it to be 23% below asking, which I don’t think would have been accepted. Rates matter!
congrats!!
As long as the inventory of lower tier homes stay low, the median price will bump up due to there being more inventory of 500k+ homes. It does not mean your house value is up by that percent.
Also, 2021 there were over 6 million sales and October of 2024 it’s at 3.9 million.
We have a long ways to go if we want to see the flat line move up or down.
This narrative was debunked months ago, Travis.
@ my name is not Travis.
It’s not a narrative when the data backs it up.
@@Kurplode The "data" has backed up no such thing for months. There was literally ONE month several months ago where that "maybe" could have been said. But not since. Travis.
@ It’s been that way for a long time.
You’re not looking at black knight data. But that’s ok. I get that it’s scary to look at.
@Kurplode Nothing "scary" about the 6.4% year over year increase in prices Travis. And black knight says no such thing. And neither does NAR which is where black knight data mines that info from. You're just lying. Again. Keep renting.
Rates went down to close to 6% so it makes sense that sales would rise.
Great macro analysis 👏
Thank you
Really pretty negligible. More inventory should mean a bit more in sales.
In my region, houses stay on the market much longer and keep lowering price
Am i crazy but has every video been the opposite? lol it’s up, it’s down, it’s good, it’s bad. 😂
I don't care what video, post, or youtuber you watch.... it's EXPENSIVE.
Every report can be different so I’m just sharing as they come in. This is a lot better than a UA-camr sticking to a narrative in my opinion (the housing market is going to crash).
@ I appreciate it. And love your valuable insight. Just trying to process where we actually are in the market with so many conflicting counter stats
2.9% year over year, and 3.4% monthly gain is good news. But let’s put the seasonally adjusted annualized existing homes sales level of 3.96 in perspective. In Jul-1995 there were also 3.96 million existing home sales. There were about 64 million owner-occupied homes then compared to about 87 million owner-occupied homes today. That’s an increase of 36%. Multiplying 3.96 by 1.36 equals 5.39 million existing homes.
Since Jul-1995, just over 29 years have passed. In those 350 months there have only been 17 months in which existing homes sales were at a lower level. That’s less than 5%. And they included seven months between Sep-2023 and Sep-2024 (today’s stagnant housing market), May-2020 (nadir of pandemic), Jun-2012, Jul-2010-Oct-2010, and four months between Nov-2008 and Mar-2009 (all during the housing bust of the Great Recession).
So I’m not particularly optimistic that this will be the end of the great “housing market stagflation”. Remember Mortgage rates in Sep-2024 were below those in Sep-2023. Today they are above last year’s rates, and I don’t see how that will change anytime soon
In America, where there is a housing crisis, foreigners who do not live here should be prevented from buying homes for investment purposes.
The first politicians that would block that move, allegedly, are for foreigners not even coming here at all. Wealthy investors are always welcomed. It's sick, I could say more, but this is a wholesome channel here.
Maybe a precursor to what will happen when rates come down
Oh, you don’t want to see that.. it’s gonna be bananas
Housing market changes like wind direction. lol.
Just sitting here watching homes stagnate on the market. Foreclosures are incoming with all the layoffs.
Sure. Any day now. 🙄
lol good one
Then would you describe this recent rise in sales as a 'dead cat' bounce?
@@luisdavidllense2293 I'm having coffee her in Davis, CA. There are 3 professionals talking about how they lost their jobs 4 months ago from an IT firm. None can find a job. Their severance is just about out and they have no idea how they are going to pay the mortgage next month. This is just in NorCal. Talking with my friends in DC who work for the FED they are anticipating a hiring freeze and many GS folks to lose their jobs as well. Add in the mass deportation expected in the coming months which will disrupt home buiders who rely on immigrant workers and agriculture food is going to get really expensive. The add in the war with Iran that is looking to pop off late 2025 and you will see the entire economy is about to collapse. Buckle up and do what the rich are doing...start hoarding cash.
My guess is there won't be a surge of foreclosures because homeowner equity is near record highs and there's no signs that prices are going to crater. Meanwhile unemployment rate is still historically low.
Awesome day to buy a primary or rental property!!
This is for the #algorithm
Thank you, Steve!
So much for the housing crash😂 #SpreadSheetKing
#RealEstateIsLocal
#LetsGetNerdy
It’s now going to be in 2025. If not then, 2026 😂
All houses have decreased in price since trump in office am I missing sumn
He is not in office yet. And prices in my area are not down but up.
Prices up yoy in most markets.
Yes, my home value has been falling since 2021. In the last 30 days it increased 6.5% I see no other reason that happened other than Trump winning the election.
@@CurtisLoew-q7qgreat. Nice one
@ Fact check time. City and state please. NOT YOUR ADDRESS.
It sounds like people are buying homes before the trump hits the fan.
Yeah, they want one last taste of that sweet sweet Biden economy. 🙄 … news flash, Bidenomics didn’t work.
Sounds like the smart money is on Trump fixing the shit show economy that Biden & Kamala left him. 😂
@Nofacenocase1619 I'm sure that's what it sounds like if you only listen to those who benefit from deceiving you.
@@DevilTravels The answers aren’t on ABC, CNN or MSNBC … detox from cable news. Catch up, independent news is providing more of the truth and facts. It’s a significant reason Trump won. You’d realize that the whole Biden admin was a sh*t show from the beginning. People are no longer tolerating all the corporate propaganda news outlets. Also, other than boomers, why watch cable news? Their relevancy is diminishing fast. Also, you can’t be on social media platform like Bluesky and think you’re informed. That’s just an echo chamber for sad disgruntled pre-Musk Twitter users and celebrities that don’t like Trump. Ridiculous 🙄
#1 😊