#housingprices #Homesales #realestate #yahoofinance
Yahoo Finance’s Brian Cheung and Akiko Fujita discuss the chart of the day, indicating home sellers are lowering prices on their houses.
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That’s a little misleading, “since 2015” is implying that they were this high in 2015, which they were not. I think more accurate would be “highest on record” if 2015 is as far back as the data goes.
I think he meant since 15 years if yoiu look at gragh peaks,he was reading incorrect script…..2007 was the GFC which was the other spike on the chart….
@thylacine That would make sense, but it’s definitely not clear from the title or the video if that’s the case.
“Sellers are starting to come back to reality” Very true.
House prices are still ridiculous. All the clown show sees is a small decrease and suddenly it’s a depression.
Depressions are a reflection of GDP growth, not the housing market. In theory, it’s possible to have a depression while the housing market is on fire.
This is just the very start of the sales price reductions which will naturally accelerate in the inflationary cycle and higher mortgage rate environment. The next shoe to drop will be existing home values, which will trigger further cutbacks in consumer spending. It’s Econ 101.
How are they still ridiculous? People here are just so used to everything being big. 750 square foot $125K-$175K for 2 bedroom, $150K-$200K 1,000 square foot for 3 bedroom. People just look at 2,000 square foot 4 bedroom homes and be like, look, expensive!! No, you’re just looking at homes too luxurious and big and expect them to be cheap. Starter homes are still affordable, especially if you can get them with programs that offer $0 down payment, and lower than market interest rate.
Yup. Not planning to buy currently. The price is way too high still.
Jackie Chan brings some good news this time.
Crash and burn
Asking prices…not home values. Closing prices are still increasing in many markets. Here in Phoenix inventory is up, but still extremely low. These “news” stories are extremely misleading just to get viewers.
Ha Ha you need to re-check your data.
“Sellers are coming back to reality.” That was dumb. Sellers don’t control values, buyers do. The recent run up in values was caused by buyers chasing extremely low inventory. It’s been the prices and mortgage rates that have brought buyers back to reality. The past couple years mortgages have been like free money and homes were dirt cheap. Compared to most of the rest of the world US homes are still even today very cheap per sq ft. Buyers are now facing the reality of having to pay for borrowed money and competing with other buyers in low inventory. This will limit buyer demand but keep pushing rents up which pushes people to buy. The issue of supply and demand remains and doesn’t look to change for years.
But.. Dave Ramsey said prices weren’t going to drop…. 😂😂
The Bible told him so.
Ya’ll gonna get rekt 🤣🤣🤣
Nope. Only those who overleveradged to buy at the top of this market and own tons of other debt. Those people will be in big trouble.
No matter what sellers priced their property buyers were buying and even offering to pay more than the asking. Reality is really on the buyers who paid hundreds of thousands dollars more, some offering over a million plus who will likely never see a return of their money.
Boycott the over priced housing market. Let’s see why don’t prices comes down when there are no buyers.
Greediness must come down.
I agree 🙏. Probably, boycott will there are some countries in the world when interest rates still increase and inflation rises (going up).
Exactly 👌
Home Prices are still nearly Double what they were in 2019 . So , i wouldn’t get to excited .
If by nearly double, you mean 25-30% then yea.
@Lionel Messi depends what part of the country really
*too
@Tryxo So Of course.
Tide is turning rapidly…
Oh wow 10% off of an increase of 200k, wow what a deal nowadays….
Goldfish people.
@David B I specifically said ‘a 200K increase isn’t a reality for most’ keyword: most. The national average is about 20% year over year since early 2020, which also means some saw a 15% increase, while others saw a 25-30% increase, year over year. Average home price in January 2020 was about $300K, average today is about $416,000. So the average increase over those 2 years is $116K, some below that, some above that, so for many people who buy small, cheaper starter homes, the increase was more like $50K. And for people who buy larger, non-starter homes, the increase was more like $100K, and for people who buy even bigger, more luxurious homes, the increase was more like $200K+. Price will never be going back to early 2020 levels, wages has risen, and even if inflation goes back down to normal levels and cost of materials goes down, the mass relocation of people who used to work close to their work in the city and now work online earning the same high city salary, has increased demand, which will only increase prices for land, which increases a home’s price, forever.
@Lionel Messi you also specifically said only a 40k and 50k increase to date. Which was not reality in my eyes. I think 🤔 my estimate was closer unless you were playing by price is right rules, then you could have said a dollar and won too hahahah 😜
@David B No, I did not say ’40K and 50K increase to date’, point to me exactly where I said that, because I did not…
@Lionel Messi “If a 3 bedroom home was selling for $150K in 2019, it’s now selling for $190K. A $200K home in 2019 is now selling for $250K” —- Lionel Messi Your quote. 40k and 50k; you can’t even do your own math on your own data points….. ay yai yai…. no wonder this inflation has gone ridiculous….
@David B Lol, seriously? You must have missed the entire post I made when I said that exact sentence…. Let me break it down to you more clearly. When you said, that I said 40K, 50K increase, I was obviously referring to an example of $150K, not the national average, which is $116K increase on a $300K average home price in January 2020. You said it as if I said $40, $50K increase for the average home price. No… $40-$50K increase.. for a $150K house… not for the national average…. So I’m correct, about $40K increase on a $150K house and about a $50K increase on a $200K house, based on a 20% year over year average increase (not some number I made up, look it up) . And $116K increase on the national average, which was $300K in Jan 2020 and now at $416K… Got it? Good.
Tis only the beginning
And they’re still way overpriced. Don’t buy folks
I agree, Don`t buy.
the lines have been gone from open houses for months in NYC area
“From that time Jesus began to preach, and to say, Repent: for the kingdom of heaven is at hand.” Matthew 4:17
“But I say unto you, That ye resist not evil: but whosoever shall smite thee on thy right cheek, turn to him the other also.” Matthew 5:39□
It has begun.
Didn’t they say the house prices wouldn’t go down???
Houses went up almost 100% and now they cooled down 5-10% means nothing for the average buyers.
@Thành Lê USA Cuộc Sống Mỹ This is only the beginning…
Is this not the same Yahoo Finance that last week reported there would be no drop in real estate?
I appreciate you’re trying your best to be as optimistic as possible. “It ain’t gunna get any better! Sit down buckle up!
Gonna not gunna
@Harper Michaels Thank you, Honey!
Used cars, electronics, lumber, housing, etc. when the rise is so unnatural and consistent across all assets (historically depreciating and appreciating), it’s obvious what is happening and what will happen. Housing prices will come down just like everything else.
SECOND HOMES ON SALE BY OWNERS. GETTING RID OF THE PERSONAL TOXIC DEBT !
IS USA ON BRINK OF DEFAULT?
IT IS FED’s FAULT TO PRINT TRILLIONS OUT OF THIN AIR. All fiat currency made BUBBLES such as the banks, stocks, housing, corporations, cryptocurrency, etc will go BUST due to HUGE DEBT, FAKE FIAT EARNINGS, RISING COST OF LIVING and STAGNANT WAGES.
The US FED will keep on raising interest rates until the economy reaches STAGFLATION. The FED only purpose is to get rid of the NINE TRILLION DOLLAR tumor from its balance sheet by asking investors to buy second hand US securities at MINUS 10% returns when adjusted to HYPERINFLATION. In a GLOBAL RECESSION this sale will not happen. This can be the longest RESET and DEPRESSION in USA history.
HOLD ON a minute,,, prices are so high, this slight drop means nothing, then add in your new mortgage rate and like Magic ✨,,, the home is more exspencive then it was before. You would need something like a 70% reduction to make a difference on affordability. Run the numbers and see
Your first chart has a very obvious error. Should be 2020 after 2019, not 2002
I think market prices are dropping to prevent homeowners from selling their homes. No body wants to sell for a loss.
No supply equals sustained prices.
bulls make money, bears make money, speculating house pigs – they get slaughtered
More for me less for you welcome to america
Yeah right ‼️ we’re heading for a collapse
You have to look at the local wages….. these transplants can pay high price than a local…. everyone from California is moving here . There turning my state to trash… funny my coworkers neighbor bought a house and he has to go back to cali because he cant afford it working locally…. I hope he goes into forclosure
This is gonna be big. Yes everyone has more equity…… lmfao… but if you have to sell. Good luck. Massive dept….
Seeing a lot of this in San Diego.