What an interest rate cut could mean for buyers in a wild housing market

The video discusses the potential for a rate cut in September and its implications for the housing market. It highlights the challenges faced in 2023 due to low inventory and high prices, and how a rate cut could shift the market in favor of buyers. Andrew Reyes, a real estate agent in Southern California, shares his strategies for renovating homes to attract first-time buyers. The video also explores how changes in mortgage rates could impact demand and prices.

What is the expected likelihood of a rate cut in September?

• 25%

• 50%

• 100%

• 75%

How does Andrew Reyes enhance the appeal of homes for first-time buyers?

• By renovating and suggesting low-cost updates

• By adding more bathrooms

• By reducing the number of bedrooms

• By increasing the price

What significant change is happening in the housing market according to experts?

• The market is stabilizing with no changes

• The market is experiencing a decrease in inventory

• The market is becoming more seller-oriented

• The market is shifting to buyers' control

What was the state of existing home sales in 2023?

• Unchanged since 1995

• Slightly increased since 1995

• At its lowest since 1995

• At its highest since 1995

What could be the effect of a sharp drop in mortgage rates?

• No effect on the housing market

• Decrease in housing demand

• Stabilization of housing prices

• Surge in demand pushing prices up