What a WILD housing market we have right now!

[@JasonWalter1]

Get Connected To a GREAT Real Estate Agent Here: www.realestateteamfinder.com Please SUBSCRIBE HERE bit.ly/31kAR73 My Gear I Use for KZbin: www.amazon.com/shop/jasonwalter Products I use and like: #ad Tubebuddy www.tubebuddy.com/jason808

[@marksgoogle4360]

Im seeing most houses sit and small price cuts

[@sarahtuttle9828]

Ugh... 🥴 47% price increase from 2019... so sad for first-time home buyers. Hopefully, more sellers will enter the market even with rates as they are. I remember the availability in 2007. So, many choices then. However, that was the housing price peak for that era. $450,000 bought a luxury home. It's amazing that we would need to quadruple our housing inventory today to match the inventory then. What a difference a day makes.

[@StefanChicag]

Who buys houses now - people moving from NY, Cali, etc. and they buy in cheaper housing states. So there you get 2 high transactions into the data, sell off NY condo or townhouse (assume thats 1m) and purchase of similar priced large SFH in the sun belt. Those type of deals are causing the avg and median home price to still show increases but the transaction data is not representative as first home buyers smartly hold off...if they wouldn't and we had them at higher level they would have purchased cheap homes which would show up as falling hime prices as the median home price would be lower then. Math is such a great thing, isn't it

[@besnkinic]

yep. and very wealthy are still buying. Middle class and below aren't signing up for a 30 year nightmare

[@JimFriend-iw3ev]

Wow that sure is a lot of baseless speculation desperately trying to prove a long dead talking point. 🙄

[@LockedUpLarry]

@@JimFriend-iw3evcoping again? Get your credit up and maybe you’ll be able to move out your bad purchase. 😅

[@lauragraves2948]

Home prices really don’t reflect what’s happening very well. If you think about it, there are time periods where buyers waived inspections and paid their own realtor fees. However, for example I just got a seller to pay $32k in closing costs to buy down my fixed rate and all the things with closing, $22k for my realtors fees, and $15k to split replacing the roof that only has about 1 year left. However on the surface, the neighbors just see we only paid $15k under asking… in reality we got about $69k of costs that could have been ours, paid…

[@JasonWalter1]

Congrats! That’s awesome the seller contributed so much $

[@mgtowski395]

Which city? I'm in LA. Buyers are regularly paying 10 to 30% above list.

[@lauragraves2948]

@@mgtowski395 Portland, OR

[@nickc3856]

My friend's parents just bought a studio apartment in Telluride, Colorado for more than a million bucks. Boomers keep paying too much for things and ruining the market

[@JasonWalter1]

Wow! Must be in the slopes?

[@nickc3856]

@@JasonWalter1 its right in town on a busy corner. doesn't even look like anything special

[@JasonWalter1]

@nickc3856 wild

[@AJourneyOfYourSoul]

It’s Telluride. In 10 years it will be worth 2 mil.

[@carnivalgods4573]

Thanks Jason. Look forward to seeing inventory numbers for January. They have been rising in Texas like it's mid spring the last couple of weeks. Looks like we have some moderate weather ahead of us. We'll see of the momentum carries forward. Have a great rest of the week.

[@JasonWalter1]

I’ll be sure to keep you posted! Have a great rest of your week too!

[@aec7557]

Northern IL inventory still feeling really tighht, good houses in the right neighborhoods are still going under contract in a couple of days and usually at/over asking

[@JasonWalter1]

Thank you very much for sharing. That’s brutal for buyers there. It goes to show how different each market can be.

[@LockedUpLarry]

2024 when adjusted for population paints a clearer picture. %s are dimensionless without reference. Ex: “a 100% increase” can mean very different things in terms of scale. Lastly, comparing 2007 to now is pointless as wages to price, and other economic factors are nearly 3x from that time. Great positivity though.

[@tlindsay1007]

Some ideas as to why people bought in December: *More homes sitting on the market. *Bought in December due to a Christmas bonus, or a work savings account cashed out. *The Presidential election. *Tired of waiting. *Mom and Dad (or Grandma and Grandpa) gave their kids money to pay for a home, as a Christmas gift. Mom and Dad might have gotten a tax write-off for handing down some of their wealth. *They stopped buying eggs for an entire year, in order to put a down payment down on a house. *They needed a house with a yard where they could raise their own egg-laying hens, in order to afford to eat eggs.

[@pbshooter100]

Yea the numbers you covered are suspect in a lot of different ways and really too many ways to cover in a YT comment. So just some examples. 1. As you noted gross sales volumes are at a near 30 year low. That is a big factor in a lot of the other statistics. 2. Prices of houses are dictated by comps which are affected by the number of sales and the price. When there are few sales due to low demand then the prices aren't going to move much. Most of the few sales that are taking place are with higher end properties which tends to move average prices up. 2. A lot of the large percentage changes are based on low volumes which skews perception. For instance if you sold 4 cogs one month and 8 cogs the next that would be a 100% increase but in reality the total number is still low and not worth calling home about. 3. Inventories, In order to judge how much excess inventory there is you have to factor in demand. If demand is low you don't need much inventory to have excess. Also the inventory numbers given to you probably don't include a lot of the new builds if any. In any case inventory at the national level is still probably below norms but there are some pretty big bubbles regionally. There is more but no one is advancing me funds for this book so I'll stop lol.

[@JimFriend-iw3ev]

Is this your cope way of agreeing with everything Jason says in his video?

[@LockedUpLarry]

@@JimFriend-iw3evcoping again on Jason’s channel? Why are all the comments of yours so negative? Hope you got some release here with this one.☝️ gold, man!

[@stoveguy2133]

So, folks are ok with prices AND interest rates? All is well. Let’s go

[@tann_man]

Not really. Lowest amount of people bought a home in 30 years. If we adjust for population it's nearly the lowest in history

[@JasonWalter1]

Transactions are still low but I personally wasn’t expecting such a big increase in Dec.

[@LockedUpLarry]

If sales in 24’ are the lowest in decades (worst when adjusted for population), why then compare “months of inventory” of a previous year? Obviously 200X inventory today would be like 12 months of inventory now?! I’d also like to see a cool video on wages to price by city. Minus the investor cities… it would make for good tv

[@kennethstauffer9220]

OMG! A statistic has returned to the value it had a few months ago!!!!

[@gimpzilla]

These sales stats are fine, im more interested in # of loans and $ ammount. I get it; you can sell your home in CA and buy two in NV. The further the local housing markets move away from their local economy, the more i except civil unrest to continue

[@zhenshan456]

there are still a lot of wishful thinking person looking for house price tank. As an investor I see an overall risk raising because no cash flow deal. But if I am on the market hunting for my first home it's really difficult. Not only monthly payment also I don't think they will another big appreciation any time soon as pre-Pademic home buyer had.

[@lanceneol865]

@12:50 he mentions that there aren't a huge amount of homes sold over 1m. That's kind of irrelevant because those fewer homes drastically affect medium numbers because median is the total cost of homes divided by all sales.

[@JasonWalter1]

That’s actually the definition of average home price. The median is the middle number of sales for the time period. The median is less influenced by the mix in sales than the average.

[@Horace1993]

Sounds like you're a median kind of guy more than an average? :)

[@MaddieBr]

Is there a way to combine existing inventory (low) with finished, unsold new home inventory (allegedly high)? The two markets are very different, but ultimately compete for same buyers.

[@JasonWalter1]

Good question. It wouldn’t change the existing inventory graph because there’s only around 100k -150k ish completed new houses for sale vs over 1M existing homes for sale.

[@MaddieBr]

HousingWire just published a report "New homes account for the highest share of sales since 2005". I don't have a subscription so I can't read it or see the numbers.

[@Steverz32]

1😊 #EveryHousingMarketIsDifferent #LetsGetRealNerdy #RealEstateIsLocal🏡

[@JasonWalter1]

Let’s get nerdy!!! 🤓

[@straightdrive6192]

Demand is still so high in the Bay Area ,. home prices increased a Staggering 15% in a certain area YOY. We expect at least 10% YOY returns in April.

[@JasonWalter1]

That reminds me that I owe you guys a CA market update at the county level.

[@lauragraves2948]

I bought in December because prices in Portland, OR here had dropped quite a bit for houses that had been sitting since end of summer. There also wasn’t any competition at all when we made an offer around Christmas, so we were able to get the seller to pay a lot towards closing costs to buy down/points to lower our fixed rate too.

[@JasonWalter1]

Huge congrats!

[@lauragraves2948]

@@JasonWalter1 thank you!!! We are so happy 💕

[@sarahtuttle9828]

I grew up in Portland and still live near the city. All I can say is good luck! 😊

[@firstlast1732]

I bought in December because of Trump I was confident of the economy I never would’ve purchased anything umber Biden

[@tann_man]

Boy are u in for a ride awakening.

[@edhcb9359]

Did you get a four year mortgage? 😂

[@JasonWalter1]

Congrats on your purchase

[@b.g.8502]

cant tell if this is a joke. you do know presidents dont control the economy right?

[@gsxrcom]

As anticipated.. November before election - “Wah wah wah but price of eggs” December - “woah, nice economy… I’m gonna buy a house at the absolute worst time ever in history to do so. -Good luck with that..