A weekend topic starting with Market Watch. "There’s new hope to phase out Fannie Mae…
This Post Has 5 Comments
From the first 13 minute video:
House Prices in the $400’s Very Possible, Data Shows, 2022 Canadian Real Estate Market.
Jon Flynn Broker of Record, Flynn Real Estate Inc.
Dec 13, 2022
Taking data from other major real estate bubbles show just how low Canadian real estate prices could go with the most extreme estimate putting us at 2015 price levels
The second 10:25 video:
Real Estate Market Shift in Poway (92064)
Eric and Deva Edelman – San Diego Homes
Dec 13, 2022
Today we’re taking a look at the housing market in Poway (92064) to see how prices have changed since the peak of the market. Where do you think home values are headed next?
The third 11:17 video:
December 2022 Oahu Real Estate Market Update
Ben Fieman
Dec 13, 2022
Median single family home prices on Oahu went up 9.5% vs November of last year! While some keep waiting for a potential crash the market moves further and further away. Condos did go down by 4% to $480,000 with perhaps more inventory choices there. Instead of waiting for interest rates to come back down, why not buy now with the decreased buyer competition, get a good deal, and then refinance later when interest rates go back down? No crash or drop in prices will be significant enough compared to the amount of appreciation we have experienced in our market in the last 2 years. Interest rates actually dipped back down a bit and most of my buyers are looking at 5-6% instead of 6-7% just a month ago.
The fourth 2:21 video:
Brentwood Los Angeles Housing Market
Eric Hass
Dec 13, 2022
Brentwood Los Angeles Facing A Buyer’s Market!!
• what the numbers mean
• how to win in a buyers market
• buyer tips
• seller tips
The fifth 4:24 video:
Austin Housing Market Report December 13, 2022 [ What you need to know about Austin Real Estate ]
Dec 14, 2022
It’s been a crazy year in the Austin Housing Market. As we come to the end of 2022 the Austin Real Estate market is so so different than it was to begin the year. In my final real estate market report for 2022 we look at the numbers for the past week and then we compare them to my Austin Housing Market report from February 11, 2022 to look at the differences. Finally we discuss whether it is or is not a good move to buy in the Austin Real estate market right now. And who should and should not be buyers right now and what does the future hold.
The sixth 3 minute video:
Central Texas Housing Report – December 2022 | Austin, Texas
Craig Smyser
Dec 13, 2022
Central Texas Housing Report – December 2022 | Austin Texas Real Estate
The real estate market continues to drift downward not just in Central Texas, but across the country. The stats I’m providing are resale homes only in Travis and Williamson Counties. More about the stats at the end.
In November, 1,072 resale homes closed in Travis & Williamson Counties which was down 54% from November 2021. The median price in November was unchanged year-over-year at $490,000. This is the first time we haven’t seen a price increase in a long time. It also marks an 18% decline from the peak median price of $600,000 that we hit in May. In real estate, the primary way we measure home values is with the median price. However, there are other numbers worth examining. The average price of a home increased by 2.3% year-over-year to $624,299. However, that is down 16% from the peak in May. The average price per square foot decreased by 1.7% to $297, and is down 19% from the May high-level mark.
The number of available homes in November was 5,189, up 172% from last November. During November, 1,372 new listings hit the market which is down 26% from last year.
The average sales price to list price ratio was 96.5%. For homes that closed in November, the average days on market was 50, up from 20 last year. The November sales ranged from a low of $110,000 to a high of $8,000,000.
The housing market in Central Texas and throughout the country continues to be at the mercy of inflation and the Federal Reserve’s response to it. Mortgage rates have come off their highs recently, currently sitting around 6.5% for a 30-year. December is historically the month with the fewest contracts written and I expect the same this year. But even though sales are down, homes are still selling. If your situation includes a sale or purchase of a home in the near future, I’d appreciate the opportunity to talk to you about it.
If you have any real estate related questions, please don’t hesitate to call or text me at 512-650-7300 or email me at Craig@RealEstateInAustin.com. Thanks for watching “How’s The Market in Central Texas.”
The stats I’ve cited are resale homes only in Travis and Williamson County classified as single family residential, condominium, or townhouse. This is different than the stats released by the Austin Board of Realtors which include all types of homes and also include Hays, Bastrop, and Caldwell Counties. Plus, their numbers include any new construction homes listed in the MLS.
The seventh 12 minute video:
Brampton & Mississauga Home Prices Under A Ton Of Pressure – Dec 7
Team Sessa Real Estate
Dec 14, 2022
Brampton, Mississauga, Ajax, Whitby, Pickering Real Estate Market Report for the week of Dec 1 – Dec 7, 2022.
“Real Estate Market Shift in Poway (92064)”
“Bread-n-butter, 3br/2ba, 1960s era homes listed in the low $700s sold over asking in the mid $740s…”
I suppose the cinnamon raisin bagel homes with avocado spread fetches over $1M? Why does this nonsense qualify for bailouts?
I imagine we’ll see prices slipping by spring 2023 when the rate hikes resume their 0.75 increments.
Kevin O’Leary, chairman of venture capital firm O’Leary Ventures and star of TV’s Shark Tank, said in a congressional hearing on Wednesday that Binance Global Inc.’s chief executive and founder Changpeng Zhao deliberately caused the collapse of Bahamas-based cryptocurrency exchange FTX.com.
O’Leary’s comments were part of a Senate Committee on Banking, Housing and Urban Affairs hearing titled: “Crypto Crash: ‘Why the FTX Bubble Burst and the Harm to Consumers.’”
The Fed lifted the benchmark interest rate to 4.25-4.50pc, the highest level since late 2007.
The 0.5-point increase follows four outsize rises of 0.75 points, and was widely expected by the markets.
However, analysts said that Mr Powell’s comments were more hawkish than had been predicted given figures showing that US inflation has dropped to its lowest rate in almost a year.
Fed officials also said they expect rates to peak at 5.1pc in 2023, above the 4.75-5pc level expected by markets.
John Leiper, chief information officer at trading firm Titan Asset Management, said: “The unanimous vote for a widely expected rate hike masks a hawkish tone to the Fed statement which retained the word ‘ongoing’ in reference to future rate hikes, which some felt might be dropped.
“Forget the Santa rally… the Fed looks more like the grinch this Christmas.”
From the first 13 minute video:
House Prices in the $400’s Very Possible, Data Shows, 2022 Canadian Real Estate Market.
Jon Flynn Broker of Record, Flynn Real Estate Inc.
Dec 13, 2022
Taking data from other major real estate bubbles show just how low Canadian real estate prices could go with the most extreme estimate putting us at 2015 price levels
The second 10:25 video:
Real Estate Market Shift in Poway (92064)
Eric and Deva Edelman – San Diego Homes
Dec 13, 2022
Today we’re taking a look at the housing market in Poway (92064) to see how prices have changed since the peak of the market. Where do you think home values are headed next?
The third 11:17 video:
December 2022 Oahu Real Estate Market Update
Ben Fieman
Dec 13, 2022
Median single family home prices on Oahu went up 9.5% vs November of last year! While some keep waiting for a potential crash the market moves further and further away. Condos did go down by 4% to $480,000 with perhaps more inventory choices there. Instead of waiting for interest rates to come back down, why not buy now with the decreased buyer competition, get a good deal, and then refinance later when interest rates go back down? No crash or drop in prices will be significant enough compared to the amount of appreciation we have experienced in our market in the last 2 years. Interest rates actually dipped back down a bit and most of my buyers are looking at 5-6% instead of 6-7% just a month ago.
The fourth 2:21 video:
Brentwood Los Angeles Housing Market
Eric Hass
Dec 13, 2022
Brentwood Los Angeles Facing A Buyer’s Market!!
• what the numbers mean
• how to win in a buyers market
• buyer tips
• seller tips
The fifth 4:24 video:
Austin Housing Market Report December 13, 2022 [ What you need to know about Austin Real Estate ]
Dec 14, 2022
It’s been a crazy year in the Austin Housing Market. As we come to the end of 2022 the Austin Real Estate market is so so different than it was to begin the year. In my final real estate market report for 2022 we look at the numbers for the past week and then we compare them to my Austin Housing Market report from February 11, 2022 to look at the differences. Finally we discuss whether it is or is not a good move to buy in the Austin Real estate market right now. And who should and should not be buyers right now and what does the future hold.
The sixth 3 minute video:
Central Texas Housing Report – December 2022 | Austin, Texas
Craig Smyser
Dec 13, 2022
Central Texas Housing Report – December 2022 | Austin Texas Real Estate
The real estate market continues to drift downward not just in Central Texas, but across the country. The stats I’m providing are resale homes only in Travis and Williamson Counties. More about the stats at the end.
In November, 1,072 resale homes closed in Travis & Williamson Counties which was down 54% from November 2021. The median price in November was unchanged year-over-year at $490,000. This is the first time we haven’t seen a price increase in a long time. It also marks an 18% decline from the peak median price of $600,000 that we hit in May. In real estate, the primary way we measure home values is with the median price. However, there are other numbers worth examining. The average price of a home increased by 2.3% year-over-year to $624,299. However, that is down 16% from the peak in May. The average price per square foot decreased by 1.7% to $297, and is down 19% from the May high-level mark.
The number of available homes in November was 5,189, up 172% from last November. During November, 1,372 new listings hit the market which is down 26% from last year.
The average sales price to list price ratio was 96.5%. For homes that closed in November, the average days on market was 50, up from 20 last year. The November sales ranged from a low of $110,000 to a high of $8,000,000.
The housing market in Central Texas and throughout the country continues to be at the mercy of inflation and the Federal Reserve’s response to it. Mortgage rates have come off their highs recently, currently sitting around 6.5% for a 30-year. December is historically the month with the fewest contracts written and I expect the same this year. But even though sales are down, homes are still selling. If your situation includes a sale or purchase of a home in the near future, I’d appreciate the opportunity to talk to you about it.
If you have any real estate related questions, please don’t hesitate to call or text me at 512-650-7300 or email me at Craig@RealEstateInAustin.com. Thanks for watching “How’s The Market in Central Texas.”
The stats I’ve cited are resale homes only in Travis and Williamson County classified as single family residential, condominium, or townhouse. This is different than the stats released by the Austin Board of Realtors which include all types of homes and also include Hays, Bastrop, and Caldwell Counties. Plus, their numbers include any new construction homes listed in the MLS.
The seventh 12 minute video:
Brampton & Mississauga Home Prices Under A Ton Of Pressure – Dec 7
Team Sessa Real Estate
Dec 14, 2022
Brampton, Mississauga, Ajax, Whitby, Pickering Real Estate Market Report for the week of Dec 1 – Dec 7, 2022.
“Real Estate Market Shift in Poway (92064)”
“Bread-n-butter, 3br/2ba, 1960s era homes listed in the low $700s sold over asking in the mid $740s…”
I suppose the cinnamon raisin bagel homes with avocado spread fetches over $1M? Why does this nonsense qualify for bailouts?
I imagine we’ll see prices slipping by spring 2023 when the rate hikes resume their 0.75 increments.
Kevin O’Leary, chairman of venture capital firm O’Leary Ventures and star of TV’s Shark Tank, said in a congressional hearing on Wednesday that Binance Global Inc.’s chief executive and founder Changpeng Zhao deliberately caused the collapse of Bahamas-based cryptocurrency exchange FTX.com.
O’Leary’s comments were part of a Senate Committee on Banking, Housing and Urban Affairs hearing titled: “Crypto Crash: ‘Why the FTX Bubble Burst and the Harm to Consumers.’”
https://www.yahoo.com/now/binance-deliberately-caused-ftx-collapse-072051048.html
The Fed lifted the benchmark interest rate to 4.25-4.50pc, the highest level since late 2007.
The 0.5-point increase follows four outsize rises of 0.75 points, and was widely expected by the markets.
However, analysts said that Mr Powell’s comments were more hawkish than had been predicted given figures showing that US inflation has dropped to its lowest rate in almost a year.
Fed officials also said they expect rates to peak at 5.1pc in 2023, above the 4.75-5pc level expected by markets.
John Leiper, chief information officer at trading firm Titan Asset Management, said: “The unanimous vote for a widely expected rate hike masks a hawkish tone to the Fed statement which retained the word ‘ongoing’ in reference to future rate hikes, which some felt might be dropped.
“Forget the Santa rally… the Fed looks more like the grinch this Christmas.”
https://www.msn.com/en-gb/money/other/us-federal-reserve-vows-to-continue-lifting-rates/ar-AA15fPpd