The Housing Market Bubble Just Popped



Lets talk about the current state of the housing market, where real estate prices are headed, and what this means for the future of values – Enjoy! Add me on Instagram: GPStephan | INVEST WITH ME HERE: http://www.creatorproperties.com/

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HOUSING STARTS:
When it comes to this, the chief economist of First American was quoted as saying: “Builders are responding to the decline in affordability and cooling demand by building less, but a slowdown in construction is concerning because the U.S. continues to face a housing shortage. We need more homes, not less.”

BUILDING PERMITS:
In places like Dallas, it was said that: “A combination of supply-chain challenges for builders, higher mortgage rates, inflation, higher building materials costs and labor shortages, and general economic uncertainty are some of the reasons being cited for a slowdown in construction.”

NEW LISTINGS:
It was just reported that: “The supply of homes for sale jumped 9% last week compared with the same week one year ago,” according to Realtor.com. Redfin ALSO found that “new listings rose nearly TWICE AS FAST as they did just one year ago.”

HOME AFFORDABILITY:
A report from Black Knight Research found that “the monthly principal and interest payment on an average-priced home, by a buyer who puts 20% down, has gone up by roughly $600 —44% — since the start of the year”…and, this is a major deterrent preventing more people from entering the market…just consider this.

HOME SALES:
As of the other day, the MEDIAN price to buy a home just broke $400,000 for the first time ever, in history, representing a 14% increase from the year prior…and, even then…”Eighty-eight percent of homes sold in May were on the market for less than a month.”

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