Sellers Market Buyers Market Which Is It? | Housing Market



Housing Market: Let’s discuss is this a market or buyers market which is it? We will be turning to actual data from RedFin to determine our answer. If you are buying or selling I hope you will find this video helpful.

▶TIME STAMPS

00:00 Intro
00:29 Welcome
00:40 Housing Market Update 2022
1:21 More Americans Sitting On Sidelines
2:42 Odds Of Home Price Reduction
3:22 Still A Market
6:58 Video Summary
8:06 Outgo

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▶ NOTES

Historic Housing Shortage Shows Signs of Letting Up as Sales Decline.
May 20, 2022 by Tim Ellis

The number of homes for sale shrank at its slowest pace in April since the start of the pandemic. Home sales fell and price growth slowed as soaring mortgage rates prompted more buyers to throw in the towel.
The housing market turned a corner in April as the inventory crunch showed signs of easing. The 9% year-over-year decline in homes for sale was the smallest since March 2020 and the first single-digit drop since the start of the pandemic. While inventory remained at a record low, it fell at a relatively slow pace because soaring mortgage rates tempered homebuyer demand. Home sales slid 8%, the biggest drop since June 2020, which allowed white-hot home-price growth to cool slightly. The median home-sale price rose 16% to $424,000, a slowdown from March’s 17% gain.

Read Entire RedFin Article –

The odds of a home price correction just spiked—this interactive chart shows if your local housing market is at risk.

Read Fortune Article –

More Americans than ever say it’s not a good time to buy a home.

Read CNBC Article –

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Buyers or sellers market