MARKET LOOSING STEAM

[Aman Shahi]

Redfin says market is slowing down and loosing its steam. And it says pending status have gone 26% less than previous months. How true is that ? Even I read couple articles and saw some financial advisors videos all says the same thing. Is it just due to inventory is coming more and more or it Fed also indicating Interest rates will go up as they said before they wont go up till 2022. Whats your opinion guys ?

[Caroline Gerardo]

I see listings reducing price in every state by tiny amounts when they didn't get the moon and movie star price now. Owner occupied needs to get offer accepted by July 15 to be in the house for the school year, that piece of purchase market will slow way down come August 10. 4 million people in forbearance, with no modification happening yet. We will see what happens around Halloween, typically the turning point of slow down until after New Years