Welcome back to real estate mindset Today's video is going to be absolutely Bonkers now the data is in and things in The housing market are fixing to get Much worse and panic is fixing to spread We already have a little bit of panic Going on now but what I'm saying is once That Panic starts to spread across the Nation that's when price decline will Really spiral out of control and so Today we're going to go over the red Finin housing market update and I want To challenge you as a viewer and I want You to answer the question is redin Saying things and manipulating data to Make the housing market appear much Stronger than what it actually is and Even if you don't agree with me even if You're a realtor that just says buy or a Broker that is just trying to generate Leads on YouTube seriously tell me are They or are they not saying things and Manipulating data to make it appear that The housing market is a lot Stronger so that's going to be your Question for today and here's where I Want to start this week's redin article Is House Hunters are back as monthly Mortgage payment post first annual Decline since 2020 and I highlighted the Date there for you guys August 22nd so The question is they're saying again House Hunters are back demand is back You guys the housing market is strong
You better bu my question is going to be What data are they basing this on are They just saying that or do they have Data backing that statement up let's Start with their own leading indicators And you guys can see right now that Interest rates are down week over week And also day over day when we look at The daily average and we look at that Year-over-year daily that's down almost A full percent meaning that's 10% of Purchasing power so we got roughly 10% Of purchasing power and look mortgage Purchase applications down 8% redin home Buying demand down 8% Google searches For homes for sale down 8% so so far you Know personally again I'm just asking You but so far I don't see any Information here that suggests that House hunters in demand is coming back Let's look at another data set when we Hop over real quick to mortgage News Daily and we look at interest rates and Their mortgage purchasing composite well Take a look here you guys first of all We peaked okay we peaked around May April May of 2024 at a 7.22% interest rate above that you see Demand at that time and that is their Index was at 141.5 fast forward to today interest Rates have declined 73 basis points or 7.3% more purchasing power as a result Of those declines but now guys it's
Showing that the daily rate is 6.49% And yet above that you see demand the Composite index is lower than it was When the interest rates were higher it's 137.5 so again what I'm saying is so far At least so far the trends do not Demonstrate that just because rates went Down and they went down a decent amount There's not a whole bunch of buyers on The sideline that are going to come into The market and save the entire industry And the reason that is the price is just Too much at least in my opinion when we Look at Supply and remember you guys Supply is a measure of total inventory And demand and what you guys see right Here is that actually is going up we now Have 3.6 months of supply and if you Look at that week over- week trajectory Again it's going up suggesting that Inventory is increasing at a faster Pace As demand now I also noted on the top There that Supply was 3.7 months back in 2017 and 2019 no mentioning that in Their update I think it's important to Understand that as far as Supply I mean We're right there guys the question is On all of those data sets that I showed You did you notice any demand picking up It's redin just saying that are they Saying that demand is there just to make It appear that the housing market is Stronger than it actually is let's keep Digging let's not go to Price Cuts
Because surely if House Hunters were Back and demand was back then price Cuts Would go down week over week let's see Not only is this up okay so this is up Week over week which means sellers Cannot sell their homes for what they're Listing it for and there's a whole bunch Of them in fact a record number of Sellers are starting to understand that In order for them to sell their house They must cut the prices and look at This guys the other interesting thing is This is a new all-time record high and Redin left that out of their report so They left out the new all-time record High completely complely out of the Report so again I ask you are they just Using things to make it appear that the Housing market is stronger than it Actually is I want to point out one Other thing on that chart now I pointed To where it says revised now remember You guys we hit a previous record of 7.1% but when we look at this it's going To 6.9% it's clearly a record they're Not mentioning it and the reason why They revised downward the last two Records it appears so far that redin is Rising the data to change the narrative And I'm sure you guys are starting to Notice a few hundred here or there can Completely change your perspective and The narrative in the housing market are They covering up what's really going on
Into redin why did you leave out the Historical high price cuts that are Going on right now it doesn't appear That demand is coming back but let's Look now at another leading indicator Days on Market because surely if demand Is coming back then days on Market would Be going lower however when we look at The updated days on Market week over Week days on Market is going up again Suggesting that house hunters are really Not going back into the market that Redin is just saying things and they're Willing to sacrifice the reputation Manipulate us and revise their data so That they can continue to push their Narrative that's what it looks like to Me but regardless days on Market is Going up we're now at 34.7 days on Market that's up 5.5 days year over-year So sellers are having a lot more Difficult time Selling Houses we have The price Cuts we have inventory going Up days on Market going up and remember Meanwhile payments on average have Dropped $250 so on average payments are lower by $250 but the payments are still almost $1,000 higher than they were 3 years ago People remember I want to get into Listing data but do me a favor guys Comment below based on the data that I Showed you so far do you think that They're just saying things to continue
The narrative that the housing market is A lot stronger than it actually is maybe You don't feel that way maybe you do Feel that way but either way if you guys Comment and you share your opinion Please explain why I always find it Especially interesting when people Actually explain themselves because I Learn and I and I'm sure a lot of other People do too jumping on over to active Listings you can see that we are barely Over 1 million listings sitting at 1,540 now it is interesting to know not That we are up year-over-year 18.2% but take a look at how close we Are to 2022 we don't want this bad boy Going down in fact we want it to keep Going up so keep your eyes on that if a Panic happens any type of foreclosure Wave any type of speculation meltdown or Selling you're going to see that sucker Shoot up because remember you guys the Housing market is extremely emotional And so when people start figuring this Stuff out there will be a panic and that Panic will magnify all of the trends That we see now but regardless we still Have over a million active listings let Me show you one data set that is a Little concerning which is new listings So even though we have a four-year high Of active listings understand that the Actual listings that are coming to the Market is low now that's going to be low
For a few reasons primarily because a Lot of current homeowners have a low Interest rate and it's called the Golden Handcuff effect so we want to keep our Eyes on this data set take a look right Here you guys we're still up Year-over-year three and a half percent Sitting at new listings of 90330 and look at how close we are to 2022 so we didn't have that midyear Increase like I was hoping but we still Hit a million active listings we still Have inventory growth demand is still Crushed consumers are wising up let's go Over median sales price and before I Show you how they've revised last week's Data because remember last week they Said that home value went up last week But the thing is guys this week we they Re-revised that data and it does not Show last week went up anymore but They're not going to issue a statement That's saying that they were wrong so I'm going to get to that but first let Me show you where we're at this week so According to the four-week rolling Average median sales price until they Revis this is at an even hm suspicious 390,000 now I again put down the peak Which was at 39624 also all the way to the left You'll notice that we started the year At 361,662 so if we're going to end this
Year with year-over-year price decline We have another $31,000 to lose but right now we're down From Peak $612 and not only that guys like I said On average in addition to houses being Approximately $6,000 lower mortgage Payments are roughly $250 lower so we Have data now that is suggesting that The longer you wait the better deal you Get like I've been saying for the last Two and a half years but I've also been Saying everything is about local markets Use your subdivision look for wedge look For cash flow if you find a deal of your Dreams right now and you can afford it You have a good job you have your money Saved no Consumer Credit you plan on Living there for 15 20 years by all Means do it but be careful now look at The arrow that super long arrow that Says revised flat no increase that week Okay so you see that they've revised That down so it's no longer showing any Type of growth whatsoever and let me Remind you what last week's article said As you guys can see here and I want you To remember this number 389 250 and look at to the right of that This is the narrative this is what I'm Saying this is up slightly from a week Earlier so again remember 389,000 that is up slightly from a week Earlier implying that the housing market
Is rebounding right rates are going down House hunters are back the housing Market's rebounding but the thing is Guys is they've re revised that downward This week and it's no longer 389 250 They revised that down to 388 750 so they can no longer say that last Week home prices went up look at the Date here 811 you see that right there All the way to the right 388 750 I mean Absolutely insane I mean to me when You're a data provider and you Understand that consumers are leaning on You to get you to get accurate Information whether good or bad on the Housing market one thing you don't do is Continuously revise the data and Miscalculate the math and I've proven These things multiple times on my video So it all goes back to the fact that It's you the viewer that need to empower Yourself you guys need to understand how This work I have a free home buying Class I'm not charging you for go watch It I guarantee you're going to learn Something you're going to learn about How loans work wedge cash flow but Remember you guys you got to go hyper Local you got to go into the subdivision And you really got to figure out what's Going on we cannot lean on these data Providers it gives us a roundabout idea But when I see them swing a two three
$400 up or down to shift the narrative To me I can't trust them all right you Keep lying to me I can't trust you Anymore and that is a shame but again Maybe I'm wrong maybe you guys don't Agree are they manipulating the data and Just saying things in order to create a Narrative that the housing market is Stronger than it actually is I'm really Looking forward to hearing from you guys Other than that I really hope you guys Got value insights and perspective and Don't forget if you guys want to battle The fraud corruption and greed the Petition is in the link check that out And don't worry you guys Mitch and I are Working on a forum to help people stay Boxed in so when it comes time to Protest Assessment value for houses we're going To have an army and we're going to knock Those people down and we're going to Start getting fairly taxed which I guess Is actually just no tax but whatever my Point is thank you and we are going to Give back to you we will grow together And other than that guys if you're out There investing in real estate you guys Already know I wish you luck and I hope You win
