This is a YouTube video titled "New Home Sales are UP! ⬆️ #homeloans #realestate #firsttimehomebuyer #mortgageagent" containing a real estate market update from March 23, 2024. The speaker discusses recent trends in new home sales, mortgage rates, and challenges faced by first-time homebuyers due to increased competition from sellers with equity. The content is informative and aimed at potential homebuyers seeking advice.
New home sales are up 9.5% for January to February 2024. And if this sounds familiar, you probably heard from us the last few months back in October I mentioned that mortgage rates have hit their peak. They're going to come down. Housing market's going to pick up in November. Open house numbers were up. December pending home sales are up. And I mentioned these people are going to close these homes late January into February. You're going to hear the headlines in March. Well, March is here and here's the headlines. Not only that, I was super specific about mentioning if there'd be a tougher crowd the housing markets. It'd be tougher for first time home buyers because you have a lot of people selling houses with a lot of equity. They could be more aggressive on the next house. So historically first time home buyers make up about 40% of the housing market. Now they're down to 26%. So it is getting tougher for first time homebuyers. Reach out today. Get the best advice when finding your new home. Sure, the best time would have been two months ago. The next best time is today.
