Welcome to “Real Estate Tips With Ronnie Jordan,” where we unravel the latest insights shaping the housing market. The Freddie Mac House Price Index recently reported a nuanced scenario for U.S. home prices. During the seasonally soft period from October 2023 to November 2023, a modest 0.2% dip was observed. However, on a year-over-year scale, there was a commendable 6.2% surge from November 2022 to November 2023.
Zooming out, the national aggregate, as measured by Freddie Mac, reflected a 2.0% rise above the 2022 summer peak and a substantial 43.3% leap from March 2020 levels. But remember, the real estate landscape is intricate, and individual markets can tell a different story. Out of the 384 housing markets tracked by Freddie Mac, 366 showed an upward trajectory, while 18 faced declines.
Taking center stage among the downturned markets is Austin, grappling with a 5.5% year-over-year decrease and a 13.9% slump since its 2022 price zenith. Ronnie Jordan’s tip: always delve into local market dynamics for a comprehensive understanding.
Against the backdrop of the Federal Reserve’s robust rate hikes and mortgage rates momentarily touching 8% in 2023, U.S. home prices exhibited resilience. Noteworthy is the correlation between falling prices and prior inventory warnings. For a comprehensive view of the nation’s housing pulse, visit our interactive chart covering the 40 largest metro areas and all 384 metros tracked by Freddie Mac.
In “Real Estate Tips With Ronnie Jordan,” we navigate the intricate currents of the real estate market, providing you with the insights to make informed decisions.
Leave a Reply