Shakeup in Real Estate: A Comprehensive Analysis | 1-Minute Market Update w/ Martin Perdomo
Ready to crack the code on this unpredictable housing market? We're unraveling the latest trends and statistics that are shaping the current property landscape. Prepare yourself for a deep exploration of the market conditions, as we tackle the hard-hitting issues of homebuilder sentiment, high mortgage rates, and the impact of a lack of resale inventory.
This conversation comes loaded with invaluable insights. We uncover the truth about housing affordability, disclosing that the average American household income needs to be $114,000 a year to qualify for the median asking price. We also offer our projections for the market's future, examining the outlook for single-family starts in 2024 and the potential for interest rate drops. Join us for a closer look at pending home sales, new listings, active listings, and the percentage of homes that had an accepted offer within the first two weeks on the market. Discover why something in the housing market is bound to break and why this could be the biggest shakeup in real estate history. You won't want to miss this!
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