This is a YouTube video titled "Housing Market's Heating Up! 🔥 #homeloans #firsttimehomebuyer #realestate" containing a monologue or presentation from February 10, 2024, discussing recent trends and indicators in the housing market, including mortgage rates, home sales, and buyer activity. The content is focused on advising potential homebuyers about market timing and does not feature multiple speakers or a conversation involving Derek McGowan.
Have you seen how much the housing market's already started to heat up? Most headlines will wait till they see new home sales pick up before they tell you that it's time to buy. But we feel like it's far too late by that point. So back in October, mortgage rates hit their peak, started to come down in November. That's when open house numbers picked up, lockbox entries picked up, people started going out beauty holes. And then in December, pending home sales jumped 8.3%. In the month alone, the projection was only 1.5%. So people started getting out of contract in the homes they were looking at in November. And they're going to close of those homes late January into February. That's where you see new home sales pick up. And then the media will start telling you it's time to buy. But by that time, the windows already started to close in. And so far every week of 2,024 mortgage applications have picked up 10% per week. So people are coming back in waves. Don't wait till it's too late. Use this info as a heads up. These are the leading indicators the housing market is picking up your best deal to buy us today.
