Following the 2022 housing market Correction due to rapidly Rising Mortgage rates and housing inventory Home prices have been steadily On The Rise a multi-decade low affordability Crisis though has been limiting home Sales but home prices overall in many Metros are up compared to one year ago However real estate is local and in some Areas home values are lower today than They were just 2 years AO go whereas Other areas home values are up greatly Over the past two years so in today's Video I'm going to share the latest Trends we're seeing right now for 800 Metros and 3,000 counties based on Analytics from resi club.com so if you Guys get any value of today's video then Please hit like button also consider Subscribing as well I post frequent Housing market updates so you guys can Be more informed I actually really Excited to share today's video I talk About home prices on National level um Some you know metros that red fin tracks For example um but this video is looking At you know 800 metros so I'm going to Share some areas in which home prices Are up big time compared to two years Ago and other areas in which um home Values are going down as well uh this is According to um resic Club analytics.com A really good website if you guys want To look at you know analytics regarding
Or housing market if you're analytical Like me uh you probably love their data Anyways according to them certain Markets especially the Northeast and the Midwest experienced home price growth Over the past 12 months that far exceeds What's labeled as modest meanwhile Specific areas in Texas Louisiana Mississippi and Southwest Florida have Softened over the past year now here's a A really good um chart looking at um Home values uh the change in home values From uh March last year through March This year and this is from looking at um Home values according to Zillow this is On resic club.com so the areas that are In blue especially those areas in dark Blue are the areas in which home values Have been increasing and in contrast Areas in red are areas in which home Values have been um falling so looking At California NorCal uh Trinity County Down by 10% humble down by 4.3 uh Menino Down by 7% whereas Santa Clara County up Up by 88.9% then we have areas like Sacramento Where I live and work as a real station It's up by 3.5% um and also San Diego up by 10.6 in Contrast other areas like in Mineral County Nevada down by nearly 19% Eureka County Down by 12.2 uh of course a lot of areas in Texas as well as the sunbell areas
Especially in Louisiana and also some Parts of North Dakota are experiencing Decreases whereas much of the um uh Northeast are experiencing big increases Especially in Harford Connecticut for Example Lance Lambert who's the founder Of resi Club EST State the falling most Major um housing markets are seeing flat To positive um home value appreciation This spring um that even includes down Markets like Austin Texas which is down By 4.1% year-over-year and San Antonio Down by 1.9% from uh 12 months ago uh indeed all 40 of the nation's largest metro areas Um have shown Positive Growth year-to Date so far but when looking at home Values from one year ago and also from Two years ago some very big changes now Here is a really good snapshot looking At home values overall and I want to Share um two cities Austin Texas versus Harford Connecticut to try to share why We're seeing these Dynamics regarding um Home prices um overall and I'll I'll Share inventory levels as well well so Looking at um Austin Texas according to Resic club.com um over the past 2 years Home values have decreased by 14.89% one year ago down by 4.05% um month to- month up by 1.6% looking at home values over the Past 10 years though 100% gain U but We're not seeing too many markets in
Which home values are down to com Compared to two years ago now let's look At Harford Connecticut real quick and I'll share inventory numbers so here's Harford Connecticut over the past 2 Years home values have increased by 19.6 6% one year ago up by nearly 133% one of the reasons why um Austin Texas is down whereas Harford Connecticut is up is this right here Here's a look at inventory levels in Austin Texas compared to other areas so Over the past two years in Austin Texas Inventory has skyrocketed by 377 per. over the past 3 years Skyrocketing by 391 per. let's look at Harford Connecticut though Harford Connecticut which is right there Inventory down 12% from 2 years ago and Down 38% from 3 years ago so we're Seeing a glut of inventory in Austin Texas which has causing home prices to Be at more or less a 2-year low whereas In Harford Connecticut home prices are Up big time because inventory is going Down over the past two and three years You also can see this same phenomena in Um San Antonio Texas where inventory has Skyrocketed by uh 223% over the past 3 years and up by Whopping 27% over the past two years and looking At home prices there um prices are down By 1.2% from two years ago um but still
Up by 18.3% % from 3 years ago so Inventory causing um home prices Decrease uh over the past two years in San Antonio resi Club also provided this Chart as well looking at America's 40 Largest metro areas and regarding um Home price um fluctuations so overall uh Nationwide um prices are up by 1.1% from Last month and also up by uh 4.6% from 12 months ago and this by the Way is according data from Zillow but They pulled their data from that website Um also from uh the peak home values are Down by 4% that was set from the peak That was back in 2022 I believe um but We're still up by 41.3% from March of 2020 now look at Dallas Texas a different animal we're Down 4.7% from the peak versus only down by Um 4% uh in Nationwide Houston Texas Down by 2.9 but still up by more than 35% for those metros now looking at Phoenix Arizona and San Francisco uh Phoenix is down by 7.9% so home values Are down by about 8% compared to the Peak of 2022 San Francisco is down by 10.3 look At this home values have only increased By 19.5% over the past 4 years compare that To Miami Florida up by 59.1% other areas that are down from the Peak were Seattle Washington down by 7%
Um Minneapolis down by 3.8 Denver Colorado down by uh 6.8% but still up by 32% from 4 years ago um we also have San Antonio Texas port Oregon uh Sacramento All down from the peak by over 6% Whereas Austin Texas down by 19.5% what's wild about this is that Even though uh they're down uh greatly From the peak uh which was back in 2022 They're still up by 38.8% over the past four years looking At other areas we have Las Vegas down by 5.6 San Jose California just south of Sacramento down by 5.1 Nashville Tennessee down by nearly 4% and Jacksonville Florida down by 3.4% from The peak now looking at the year your Change um some pretty big changes here Because most of the U Metro here um have Posted gains except for a few San Antonio Texas is down by 1.9% from one Year ago Austin Texas is down by 4.1 uh The only two metros of the 40 that are Down year year in addition some of the Metros that have posted the biggest Gains over the past four years are Miami Florida up by 59.1% um also we have Atlanta Georgia up By nearly 53% Phoenix Arizona down by or Up by 49.4% even though they're down from the Peak down by 7.9% uh Riverside California and SoCal Up by
48% uh San Diego up by 51% that's pretty Astonishing because in San Diego I just I just supported this to you guys um for The month of March Based on data from The California Association rors my California update uh the median home Sale price in in San Diego is $1 million Right now um also big gains in Tampa Florida up by 59.4% Orlando 52% uh Charlotte North Carolina up by 55% now going back to Their um home price tracker um you guys If you follow my channel I always talk About how you know now it's not a good Time to buy a house uh a good time to Buy or sell a house is when it's right For you based on your own circumstances Um I wouldn't recommend buying a house Unless you have a stable job emergency Fund and also you have long longterm Time Horizons for at least 7 to 10 plus Years I say that over and over again Right um so what I found to be really Interesting here is the change in home Values for these 800 metros um over the Past 7 to 10 plus years because overall In the long term you should be able to Ride the es and flows of the housing Market because in the long term overall In general um real estate uh increases In value um as well so Just looking at the home values again This is based on uh home values According to Zillow um from seven to 10
Years out over the past s to 10 years I Just say all these metros in the top 10 I should say going back all the way Until uh the biggest Metro is going back Too still going uh until we hit the uh 213th biggest Metro which is in Lake Charles Louisiana A population I believe around 80,000 Besides that out of the top 200 let's Say all these metros are up compared to 7 years ago through 10 years ago in fact Look at um New York New York or the past 10 years up by 64% Dallas Texas up by 129% then we have Miami Florida up by 151% and also compared to 7 years ago up By 88% Even look at Phoenix Arizona that is up By um 87% from 7 years ago despite the Fact that they're down by 2.33% from two years ago uh same for San Francisco down by 8% from two years ago But accounting for that they're still up By 39% from 7 years ago this also holds True for Austin Texas up by 57% from 7 Years ago even though prices or home Values have tanked by 15% % over the Past 2 years so more or less what I'm Getting at is if you have long-term hunt Time Horizons this is not a guarantee But overall you should see a positive Gain or some home price appreciation uh If you hold on to your real estate for At least 7 to 10 plus years this is my Advice for you guys if you guys looking
To buy house rather than speculating or Trying to time the market and trying to Buy at the bottom which is nearly Impossible because there's so many Things that impact our housing market That are completely beyond our control And lastly I know a lot my viewers are Located in the Sacramento area or want To purchase in the Sacramento area so Here's Sacramento it's a Down by 3.8% from two years ago but over the Past 3 years up by 14% 4 years 30% 5 Years 37% 7 years up by 53% going all the way back over the past 20 years including the Great Recession You' still be up 85% over the past 20 years and with that Said please comment below with your Biggest takeaways from today's video if You guys got any value of today's video Whatsoever then please hit like button I Could appreciate that of course Appreciate you hope you guys have an Awesome day look forward to seeing you On the next video [Music] [Music]
