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Some huge changes are happening right now in the Austin, Texas housing market. The amount of homes for sale in May 2024 is at least a 7-year high (i.e. higher than any other month since at least January 2017 per ResiClub Analytics using Realtor.com data). This is remarkable given the fact that inventory tends to peak in the summer months, not early Spring in the Austin Texas real estate market. In other words, housing inventory is likely to increase further through at least the summer months. There’s already 409% more existing homes for sale in Austin compared to Mayu 2021 compared to a gain of only 76% for the nation as a whole.
Additionally, the share of price reductions rose to at least a 5-year high for early-June per Altos Research and Austin’s median sale price dropped to at least a 3-year low for the four weeks ended 6/9/24 per Redfin.
Thank you for watching the video! I appreciate you. Please like, share this video and subscribe! See the links below to the sources of the reports I discussed.
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Compilation of Housing Market Forecast videos:
• Housing Market Predict...
Source of reports I shared:
www.resiclubanalytics.com/
www.redfin.com/news/data-center/
altosresearch.com/
www.newhomesource.com/single-...
To give you a quick mortgage interest rates update, according to the Mortgage News Daily the average 30 yr fixed mortgage rate is around 7% for the current mortgage rates (at the time of filming this video for those with excellent credit).
Comment below: what’s your housing market forecast? Do you think a housing crash will happen or are your housing market predictions that the real estate market and home prices will continue to surge?
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Jason Walter, CPA (inactive CPA lic 103885)
Sacramento real estate agent and native (DRE 01923240)
Mortgage Loan Officer, NMLS 2566691
Revest Homes (DRE 02174879, NMLS 2362319)
www.nmlsconsumeraccess.org
jason@meetjasonwalter.com
Revest Homes:
2571 S Main Street Ste D, Soquel, CA 95073
(831) 200-8722
www.RevestHomes.com
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Disclaimer:
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.
This video description may contain affiliate links that allow you to easily find the items mentioned in my videos as well as support the channel at no cost to you. Thank you for your support! Jason Walter is a licensed real estate agent and mortgage loan originator with Revest Homes in California (DRE 02174879, NMLS 2362319).
For informational purposes only. This is not a commitment to lend or extend credit. Information and/or dates are subject to change without notice. All loans are subject to credit approval. Other restrictions may apply. Equal housing lender.
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