GET UP TO $100 OF FREE CRYPTO: Trade Bitcoin, Doge, and other crypto with low fees on FTX. Use my referral code GRAHAM: https://ftx.us/partners/graham - Lets talk about the housing market and why prices are falling - Enjoy! Add me on Instagram: GPStephan
GET YOUR FREE STOCK WORTH UP TO $1000 ON PUBLIC & READ MY THOUGHTS ON THE MARKET - USE CODE GRAHAM: http://www.public.com/graham
GET MY WEEKLY EMAIL MARKET RECAP NEWSLETTER: http://grahamstephan.com/newsletter
The YouTube Creator Academy
Learn EXACTLY how to get your first 1000 subscribers on YouTube, rank videos on the front page of searches, grow your following, and turn that into another income source: https://the-real-estate-agent-academy.teachable.com/p/the-youtube-creator-academy/?product_id=1010756&coupon_code=100OFF - $100 OFF WITH CODE 100OFF
THE 2022 HOUSING MARKET:
On the most basic level, we have the numbers that everyone is talking about: Mortgage demand fell to a 22 YEAR LOW as rates have almost doubled from a year ago, mortgage applications are 18% lower than the same week in 2021, and refinances saw an 83% drop year over year.
BUT - the one piece of data that matters the most, is that for the first time since prior to the pandemic, Median prices have started to DECLINE, MONTH OVER MONTH, with prices now $10,000 LOWER THAN THEY WERE, JUST A MONTH AGO.
As the National Association Of Realtor's explains, the ongoing sales decline reflects the impact of higher mortgage rates, which peaked at 6% in early June, before now declining back to 5%. This increase SEVERELY impacted the number of buyers in the market, with total housing inventory having increased 4.8% from the month prior - meaning, with fewer homes being sold, there’s more AVAILABLE for buyers to chose from.
HOWEVER, even though they ADMIT that “we're witnessing a housing recession in terms of declining home sales and home building”….nearly 40% of homes are still selling at full list price, and properties were staying on the market for a record low of just 14 days in July.
On top of that…82% of homes sold were on the market for LESS THAN A MONTH…suggesting that, even though prices ARE beginning to fall…they’re not declining as fast as most people would expect.
In terms of falling home prices, The largest drop, so far - was San Jose, which recently fell 4.5% MONTH OVER MONTH, along with Phoenix Arizona, San Fransisco, Austin Texas, Sacramento, and San Diego - while areas like Miami, Richmond, and Memphis, Tennessee actually saw a slightly INCREASE.
On top of that, Zillow REVISED their forecast to show home price growth at just 2.4% throughout the next 12 months - which, WHEN adjusted for inflation - is likely going to mean: REAL PRICES, OVERALL, WILL PROBABLY DECLINE.
Moody’s Analytics ALSO believes that a large portion of the market will see a decline throughout the next year, with the most “At-risk” housing markets being the ones that saw the MOST home appreciation over the last 2 years.
That’s why, the way I see it - unless you live in a highly speculative market - most likely, some softening is healthy, and it might be a good opportunity to negotiate a lower price on a property that’s otherwise perfect. Besides that, though, I wouldn’t worry about a catastrophic real estate collapse, BUT, personally - I would only buy a property that you intend to keep for at least 7-10 years.
My ENTIRE Camera and Recording Equipment:
https://www.amazon.com/shop/grahamstephan?listId=2TNWZ7RP1P1EB
For business or one-on-one real estate investing/real estate agent consulting inquiries, you can reach me at GrahamStephanBusiness @gmail.com
*Some of the links and other products that appear on this video are from companies which Graham Stephan will earn an affiliate commission or referral bonus. Graham Stephan is part of an affiliate network and receives compensation for sending traffic to partner sites. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available. This is not investment advice. Public Offer valid for U.S. residents 18+ and subject to account approval. There may be other fees associated with trading. See Public.com/disclosures/
GET YOUR FREE STOCK WORTH UP TO $1000 ON PUBLIC & READ MY THOUGHTS ON THE MARKET - USE CODE GRAHAM: http://www.public.com/graham
GET MY WEEKLY EMAIL MARKET RECAP NEWSLETTER: http://grahamstephan.com/newsletter
The YouTube Creator Academy
Learn EXACTLY how to get your first 1000 subscribers on YouTube, rank videos on the front page of searches, grow your following, and turn that into another income source: https://the-real-estate-agent-academy.teachable.com/p/the-youtube-creator-academy/?product_id=1010756&coupon_code=100OFF - $100 OFF WITH CODE 100OFF
THE 2022 HOUSING MARKET:
On the most basic level, we have the numbers that everyone is talking about: Mortgage demand fell to a 22 YEAR LOW as rates have almost doubled from a year ago, mortgage applications are 18% lower than the same week in 2021, and refinances saw an 83% drop year over year.
BUT - the one piece of data that matters the most, is that for the first time since prior to the pandemic, Median prices have started to DECLINE, MONTH OVER MONTH, with prices now $10,000 LOWER THAN THEY WERE, JUST A MONTH AGO.
As the National Association Of Realtor's explains, the ongoing sales decline reflects the impact of higher mortgage rates, which peaked at 6% in early June, before now declining back to 5%. This increase SEVERELY impacted the number of buyers in the market, with total housing inventory having increased 4.8% from the month prior - meaning, with fewer homes being sold, there’s more AVAILABLE for buyers to chose from.
HOWEVER, even though they ADMIT that “we're witnessing a housing recession in terms of declining home sales and home building”….nearly 40% of homes are still selling at full list price, and properties were staying on the market for a record low of just 14 days in July.
On top of that…82% of homes sold were on the market for LESS THAN A MONTH…suggesting that, even though prices ARE beginning to fall…they’re not declining as fast as most people would expect.
In terms of falling home prices, The largest drop, so far - was San Jose, which recently fell 4.5% MONTH OVER MONTH, along with Phoenix Arizona, San Fransisco, Austin Texas, Sacramento, and San Diego - while areas like Miami, Richmond, and Memphis, Tennessee actually saw a slightly INCREASE.
On top of that, Zillow REVISED their forecast to show home price growth at just 2.4% throughout the next 12 months - which, WHEN adjusted for inflation - is likely going to mean: REAL PRICES, OVERALL, WILL PROBABLY DECLINE.
Moody’s Analytics ALSO believes that a large portion of the market will see a decline throughout the next year, with the most “At-risk” housing markets being the ones that saw the MOST home appreciation over the last 2 years.
That’s why, the way I see it - unless you live in a highly speculative market - most likely, some softening is healthy, and it might be a good opportunity to negotiate a lower price on a property that’s otherwise perfect. Besides that, though, I wouldn’t worry about a catastrophic real estate collapse, BUT, personally - I would only buy a property that you intend to keep for at least 7-10 years.
My ENTIRE Camera and Recording Equipment:
https://www.amazon.com/shop/grahamstephan?listId=2TNWZ7RP1P1EB
For business or one-on-one real estate investing/real estate agent consulting inquiries, you can reach me at GrahamStephanBusiness @gmail.com
*Some of the links and other products that appear on this video are from companies which Graham Stephan will earn an affiliate commission or referral bonus. Graham Stephan is part of an affiliate network and receives compensation for sending traffic to partner sites. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available. This is not investment advice. Public Offer valid for U.S. residents 18+ and subject to account approval. There may be other fees associated with trading. See Public.com/disclosures/
The autombile market is hugely out of balance and teetering on a huge collapse. The numbers are in, massive default is setting up right now. Save your money and there will be cheap used cars on the market soon.
So many bots on finance channels 🙄
Living in a rough place I understand where you come from Graham
But you should not miss Amazons AMZ75X release which was just a few hours ago.
Something like this has its own playground in this market
I'd put all bags on that when I know that such a powerful brand and project is behind it but that's just me
As someone with kids, I think another big issue is summer is over which plays a big part in people's decisions on both parts. buyers and sellers ..
I think its about time that people realizee that single family home with a picket fence and backyard is not your right, it is a privilege (which you are not entitled to)
Every Graham Stephan video: Watching Graham wave his hands at you for 10 minutes while saying reasonable things.
i cant help feel bad for anyone having to sell their homes to survive, just to see graham photoshopped thumb nail role play for clicks and never mentions if he is or is not selling his own house. after watching this i can confirm he is not. if he following his own words.
You should get a ftx tattoo on your forehead then I’ll sign up
SCAM ALERT. These people are spamming amz75x. Funny enough the scam bot replies to their comments. Lol it’s like battle of the scammers.
You know nothing bro when it come to housing
I like you, but slowly getting tired of shilling FTX and SBF
I caught the “what’s up Graham, it’s guys here” at the beginning. Great video though! Thanks for your hard work & research! 💯
You need to learn from meet kevin
You are the worst one when it come to housing market. You are the greedy one.
This is the beginning of the end for this channel. Regurgitating the same &hit in every video
Don’t fall in his trap guys. His large portfolio is in housing market. So he will keep saying the same thing. At the end of the day, he is a Radom YouTuber who is making money by uploading videos. But I use as blocker lol
But you know that Americans’ debt is on heat now
Lol. He is still hoping housing market to go up.
Wtf is up with these bot comments taking over.
FTX is using customer funds to push through their expansion and growth. They are operating on fractional reserves. DYOR
Hello Graham it's guys here?
“What’s up Graham, it’s guys here”? 🤪
Interesting.
If it has gone down, I can invest in real estate.
I’m under contract on a new construction 3br 3ba home under $300k. Even though it may not be the most “ideal” time to buy, I think if you plan on living in it for a long time, it will be a good investment no matter what. I have to trade city life for country life and move out of state, but I’m happy! As a first time homebuyer, it’s still cheaper than renting where I currently live.
Didn t FTX US just get a cease and desist?
*clickbait *
The fact that I was promised an article about a seal breaking into a house and it's not in the description kind of pisses me off, not going to lie.
I think AMZ75X needs more mentions right? riightt?