Why Home Prices Are the Highest in Any October
Be Wealthy & Smart
Linda P. Jones
4.8 • 883 Ratings
🗓️ 27 November 2023
⏱️ 7 minutes
🧾️ Download transcript
Summary
Discover why home prices are the highest in any October.
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Be Wealthy & Smart,™ is a personal finance show with self-made millionaire Linda P. Jones, America's Wealth Mentor.™ Learn simple steps that make a big difference to your financial freedom.
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Transcript
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| 0:00.0 | Be wealthy and smart, episode 1277. |
| 0:03.2 | I'm gonna live no rich life. |
| 0:07.2 | It's like, |
| 0:08.0 | pulling that's light, |
| 0:10.0 | if y'all know what I mean, put your hands up and declare with me |
| 0:14.0 | Yeah, I'm full of bad I'm gonna live |
| 0:20.0 | I'm gonna live the good life |
| 0:22.0 | beautiful and glorious life Step into a world of wealth and wealth and financial freedom without budgets, boredom or bosses on |
| 0:31.6 | be wealthy and smart. And now here's your host, Linda P. Jones. |
| 0:38.0 | Welcome to Be Wealthy and Smart. I'm Linda P. Jones, America's Wealth Mentor, Empowering Women and Men Worldwide to Financial Freedom. |
| 0:45.2 | On today's show, we're going to talk about housing prices at the highest level for any October. |
| 0:52.2 | Right now, the perception and the narrative that's being presented is that the housing market is terrible, but actually it's just really tight on inventory and that's been driving housing prices higher. |
| 1:04.8 | We all know interest rates have been stubbornly high, but they've started to trend lower recently. |
| 1:10.2 | And that's good news for buyers as that trend I believe will continue into next year. |
| 1:15.2 | There were 1.15 million previously owned homes on the market in October, |
| 1:19.9 | which is down 5.7% from a year ago. |
| 1:23.6 | So inventory remains very tight. |
| 1:26.3 | And since most homeowners have mortgage rates |
| 1:28.7 | under 5%, that makes many people who own homes reluctant to sell and have to have a higher interest rate on their mortgage. |
| 1:37.0 | Lawrence Eun, the National Association of Realtors, chief economist, told reporters that realtors will be speaking with their representatives |
| 1:45.6 | in the U.S. Congress about a government tax incentive for homeowners who have been living in |
| 1:50.8 | their homes for a long period to encourage them to put their houses on the market. |
... |
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