This is a YouTube video titled "🏡 Fannie Mae agrees, Home Prices are going to keep Soaring 📈" containing a market update from July 23, 2021, discussing Fannie Mae's revised home price increase forecast and the current housing market conditions, emphasizing rising prices and interest rates. The content features a single speaker providing an analysis of housing affordability and market trends.
Big news from Fannie Mae today. So earlier this year, they predicted an 8% price increase to continue to the end of this year. They just updated that today to 14.8. So the last year was 14.9. So they think the same trend is going to continue for the next 12 months. So that means the houses today are much more affordable. Rates are also going up. So it's a combination of everything getting more expensive the longer people wait. So those that are in the market time is definitely now. They think eventually builders will be able to produce enough houses and the demand will calm down a little. And as people get relocated and the stimulus money wears off. But in the meantime, houses are going up, rates are going up. Now's the time.
