2019 vs. 2024: Homes are harder to find, and even harder to afford

The video discusses the current state of the housing market, highlighting the challenges buyers face due to high prices and mortgage rates. It compares market changes from 2019 to 2024, noting significant price increases and inflation. Despite these challenges, there is good news for buyers as more affordable homes are entering the market, with inventory up 35% compared to last spring. Sellers, especially those downsizing or paying cash, are in a favorable position to profit.

What are the main challenges faced by home buyers in the current market?

• Excessive new construction and low interest rates

• High prices and high mortgage rates

• Low inventory and low mortgage rates

• Decreasing home values and low demand

According to the realtor.com report, how much has the medium list price for homes increased since spring 2019?

• 10%

• 37.5%

• 25%

• 52%

What has been the rate of increase in price per square foot over the past five years?

• 52%

• 25%

• 10%

• 37.5%

What positive trend is mentioned regarding affordable homes?

• Stability in the housing market

• Reduction in home prices

• Increase in affordable homes entering the market

• Decrease in mortgage rates

Who are considered the biggest winners in the current housing market?

• Real estate agents

• Sellers who are downsizing or paying in cash

• Home builders

• First-time home buyers