Investor purchases of single family homes set new records and are leaving behind first time home buyers. Meanwhile rental prices are also skyrocketing. In today’s housing market update, I share the latest real estate trends and news.
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According to a new report from Redfin, investors purchased a record 18.2% of the houses that sold in the 3rd quarter of 2021. That’s up from 16.1% in the second quarter and up significantly from 11.2% a year earlier.
Meanwhile, Corelogic reported that rental prices surged by 10.2% from September 2020 to September 2021 (nearly 4 times the Sept 2020 increase). This was the fastest year-over-year increase in over 16 years. Miami posted the largest increase in the 20 metros Corelogic tracks with a whopping 25.7% rise in rental prices. Meanwhile, Corelogic reported that home prices increased by 18% from Sept 2020 to Sept 2021.
To give you a quick mortgage interest rates update, according to the Mortgage News Daily the average 30yr fixed rate mortgage is 3.27% for the current mortgage rates. This is mixed news if you’re a homebuyer right now or if you’re a homeowner looking to refinance.
Comment below: what’s your housing market 2021 forecast and housing market forecast 2021? Do you think a housing crash 2021 will happen and there will be a housing crash due to a housing bubble, a 2021 housing market crash 2021 or are your housing market predictions that the real estate market 2021 and home prices 2021 will continue to surge?
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Disclaimer:
Jason Walter is not a practicing tax accountant or a licensed attorney or financial adviser. Therefore, the information in these videos shall not be relied upon as tax, legal, or financial advice from a qualified perspective. If you need such advice, please contact a qualified tax accountant, attorney, or financial adviser. We have taken reasonable steps to check that the information in this video is accurate but we cannot represent that it is free from errors. You expressly agree not to rely upon any information contained in this video - it is for entertainment purposes only.
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