Home price growth is slowing even though housing inventory has been increasing. In today’s housing market update, I share this latest real estate market news including a big update on mortgage loan forbearance numbers because the number of homeowners in mortgage forbearance dropped BIG time last week.
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Black Knight reported last Friday that the number of people in forbearance dropped by 189k from a week ago bringing down the population in forbearance below 2M for the first time since early April of last year. The share of loans in forbearance decreased to 3.5% which equates to 1.86M in forbearance, down significantly from nearly 5M in May of 2020.
Realtor.com reported that home price growth has been slowing yet they saw more new listings this year versus last year in 12 of the last 15 weeks. “The influx of new sellers over the last few months has contributed to slowing price growth and smaller inventory declines.”
To give you a quick mortgage interest rates update, according to the Mortgage News Daily the average 30yr fixed rate mortgage increased to 3.09% for the current mortgage rates. This is mixed news if you’re a homebuyer right now or if you’re a homeowner looking to refinance.
Comment below: what’s your housing market 2021 forecast and housing market forecast 2021? 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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Why Aren’t Home Prices Dropping? Housing Market 2020
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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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