Here’s a look at where the real estate market is now and where it’s headed.
It’s the start of July and I have the latest numbers for the Desert real estate market. The question I hear all the time, whether I’m on a listing appointment or at a cocktail property is, “What’s happening, and where do you think we’re going?”
Myself and other savvy Realtors have numbers like the ones I’m going to share today that will help you understand what we understand. I get mine through the Tom Ferry organization and the Keeping Current Matters organization. They provide me with all the latest, most accurate numbers. I’ll go through those numbers in an order that will help you get up to speed with where the market is now and where it’s headed in the future.
Cited below for your convenience are timestamps that will direct you to various points in the video. Feel free to watch the full message, or use these timestamps to browse specific topics at your leisure:
1:15- Current inventory levels
2:00- The seller and buyer traffic indices in the U.S.
2:40- The latest existing home sale numbers by region
3:03- Year-over-year pending home sale numbers by region
3:38- Price appreciation by region
4:12- How the housing affordability index has changed since 1990
5:32- Key home equity numbers to know
6:16- Home inventory trends for 2020 and 2021
7:20- When economists believe housing inventory will grow again
8:03- Market predictions from industry experts
11:07- Wrapping things up
I hope this helps you gain a better understanding of where the market’s at and where it’s headed. These are the facts and this is what the top thinkers in the industry are looking at.
If you have any questions for me about the Desert market, your real estate needs, or anything else related to real estate, don’t hesitate to reach out via phone or email. I look forward to hearing from you. In the meantime, stay cool!