ilmscore | Housing Prices Just Broke A NEW Record High

Housing Prices Just Broke A NEW Record High

Published: 2024-07-03
Status: Available | Analyzed

Predictions from this Video

Total: 8
Correct: 0
Incorrect: 0
Pending: 8
Unrated: 0
Prediction
Topic
Status
The Federal Reserve Bank is expected to begin cutting interest rates before the end of 2024.
"the Federal Reserve Bank says that because inflation is cooling down they're on target to start cutting interest rates before the end of 2024"
Interest Rates
Pending
If mortgage rates decrease, it could initially make homes more affordable, but increased buyer demand could lead to a subsequent rise in home prices.
"if mortgage rates go down what would that do to home prices what would that do to the housing market well if home prices go down we know that home buyers would probably like it at the beginning at least because now instead of paying a 7% mortgage you might be able to get a 4% mortgage hypothetically and so a home buyer would say oh this is great I can finally enter the housing market again and get a more affordable mortgage but then what ends up happening is well if you have a lot of buyers entering the Home Market you would see home prices also rise because now you have a lot of buyers competing for those same homes and so home prices start to rise"
Housing Market
Pending
Between 2020 and 2022, national home prices increased by 40-50%.
"and between 2020 and 2022 home prices shot up by 40 to 50% around the country"
Housing Market
Pending
For the first time since before the pandemic, buyers are hesitant due to high housing costs, and agents advise realism regarding prices.
"for the first time since before the pandemic here's what the report said buyers are shying away due to Skyhigh housing costs and agents say that both buyers and sellers should be realistic about prices in today's market"
Housing Market
Pending
The housing market is experiencing some softening, with negotiating room emerging and prices occasionally falling below asking, indicating a shift towards a more balanced market.
"we're starting to see some softness there because we're starting to see some negotiating room which is why we're starting to see some home prices sell for below asking price again not a drastic change but it's a big shift from where we were before because it was a super strong sellers market now we're starting to see it balance out a little bit more"
Housing Market
Pending
The Federal Reserve Bank anticipates at least one interest rate cut before the end of 2024, though it's not guaranteed.
"are we going to see interested Cuts in 2024 while the Federal Reserve Bank says probably now is that guaranteed no of course not nobody has a crystal ball to predict what's going to happen next month but the Federal Reserve Bank says they are anticipating at least one interest rate cut before the end of the year"
Interest Rates
Pending
Hypothetically, a cut in interest rates could lead to more affordable mortgages, potentially attracting more buyers and strengthening the housing market.
"if now we start to see interest rates get cut hypothetically that could make housing a little bit more affordable in the sense that you could get a little bit more of an affordable mortgage which could drive more buyers into this Market which could strengthen this housing market even more with more buyers"
Housing Market
Pending
From 2020 to 2022, buyers were willing to pay significantly over asking price due to the low cost of debt.
"and between 2020 and 2022 people willing to pay way over asking price because the debt was cheap"
Housing Market
Pending