Forecasting the Future of the Property Market | 1-Minute Market Update w/ Martin Perdomo

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Brace yourselves as we navigate through the turbulent currents of the real estate market. This episode uncovers the startling decline in pending home sales, a slump that has dived deeper than the depths reached during the financial crisis. We sift through intriguing market data, including a surge in mortgage purchase applications, a fall in Google searches for homes, and the baffling steadiness of asking prices for freshly listed homes amidst high interest rates and low inventory. Beware though, this stability isn't everlasting, and we're primed for a price drop sooner rather than later.

In the latter segment, we illuminate the rising trend of homeowners refinancing their mortgages to offset high-interest credit card debts – a strategic move considering the financial landscape. We turn the spotlight on some captivating data around active listings, accepted offers, and selling prices. To wrap it all up, we gaze into the crystal ball to share our insights on what 2024 and beyond holds for us – prospective opportunities, potential hurdles, and the real estate market's trajectory. Keep your ears peeled to this episode for a holistic understanding of our current standing and possible future.

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