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In today’s housing market update, I’ll share the real estate market trends that point to a slowdown in the US housing market 2021.
The first sign that our housing market has been slowing down is the fact that the number of mortgage applications for home purchases has been on a declining trend this year.
A second sign that our real estate market may be slowing down is due to the fact that pending home sales have been dropping over the last two consecutive months.
A third trend is that home price appreciation has been cooling off.
A fourth factor that is a sign of a housing market shift is from an increase of housing inventory this year.
A fifth trend that may indicate that our real estate market is starting to slow down is the number of home tours by real estate agents has decreased.
I provide all of the details in today’s housing market update.
To give you a mortgage interest rate update, according to the Mortgage News Daily, the average 30yr fixed rate mortgage was 2.97% for current mortgage rates. However, mortgage interest rates are still at historic lows. This is mixed news if you’re a first time homebuyer right now or if you’re a homeowner looking to refinance.
Comment below: what’s your US housing market forecast? 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 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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