Housing Market at a Crossroads | Real Estate Market Update w/ Martin Perdomo

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The American housing market stands at a critical inflection point. With median home prices reaching an unprecedented peak of $387,600 and mortgage rates hovering around 6.76%, monthly housing payments have hit a record $2,868 for typical buyers. Despite these challenging conditions, regional markets are telling dramatically different stories that savvy investors need to understand.

Washington DC has experienced a stunning 25% surge in active listings—the highest since 2015—largely driven by federal workforce reductions. Meanwhile, Florida's once-booming market has cooled significantly, with median prices dropping 1.7% year-over-year, the steepest decline in over a decade. In California, San Diego's shift toward a buyer's market is evident with more than half of homes selling below asking price. These regional variations highlight the increasingly localized nature of real estate opportunities.

Perhaps most telling is that nearly 7% of homes nationwide have seen price drops—the highest percentage on record—while 44.4% of recent sales include substantial seller concessions. The market is adapting, creating both challenges and opportunities for different players. Whether you're looking to buy, sell, or invest, understanding these shifting dynamics is essential for making informed decisions. Ready to deepen your real estate expertise? Join us on May 21st in Allentown, PA for our exclusive "Profit Through Property" event, where you'll gain actionable strategies from industry experts. Reserve your spot now at wealthyafmedia/events and position yourself to capitalize on today's evolving market.

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Episode Transcript

Speaker 1 (00:00):
Welcome back to this week's real estate market update
.
In this episode, we're divinginto the latest market moves you
need to know.
Plus, stick around becausethere's an exclusive live event
happening on May 21st inAllentown, Pennsylvania, and it
just might change the way youbuild wealth forever.
Let's start with the bigpicture.
The big picture According toRedfin, the median US home sales

(00:28):
price has reached a new peak of$387,600, up 4% from the
previous year.
Concurrently, the average30-year fixed mortgage rate
stands at 6.76%, contributing toa record high median monthly
housing payment of $2,868.
Despite these soaring costs,pending home sales have declined
by 3.9% year over year, makingthe most significant drops in

(00:54):
three months.
This dip is attributed to botheconomic uncertainty and
seasonal factors, such as thetiming of Easter.
Interestingly, while newlistings have increased by 5.5%
compared to last year, theoverall inventory remains tight,
keeping the market competitivein many, many areas.

(01:15):
Zooming into specific regionsthe Washington DC market the
capital has seen a 25% year-overover year increase in active
home listings, the highest since2015.
This surge is largely due tosignificant federal layoffs,
prompting many to list theirhomes.

(01:36):
San diego, california over halfof the homes sold in february
went for less than the askingprice, reflecting a shift
towards a more buyer-friendlyenvironment.
Florida, the state'spandemic-era housing boom, has
officially cooled, with medianhome prices dropping 1.7%

(02:00):
year-over-year the steepestdecline in over a decade.
Factors include high insurancecosts and stricter condo
regulations.
Texas cities like Austin andDallas have experienced slight
decreases in monthly mortgagepayments attributed to reduced
demand amid economicuncertainties.

(02:23):
Before we jump back in, let'stalk about an exciting
opportunity for real estateprofessionals in Pennsylvania or
around the country.
If you want to join me on May21st, join us in Allentown, PA
for Profit Through PropertyMastering, Management and Wealth
an exclusive evening designedto help you scale your portfolio
, sharpen your managementstrategies and connect with

(02:51):
seasoned experts in the field,Hosted by yours truly, plus an
interactive hot seat sessionwith my very own property
manager, Carmelo Carrasco, CEOof Axel Property Management.
This is your chance to gainreal world insights and network
with some of the sharpest mindsin the game.
That's May 21st, from 6 pm to 9pm at the Axel Property
Management Office, 450 UnionBoulevard, 3rd floor in

(03:14):
Allentown, PA.
Seats are limited, so lock inyour spot now.
Visit wealthyafmedia forwardslash events to register for
free tickets.
Now back to the headlines.
Current market dynamics revealthat nearly 7% of homes on the
market have experienced pricedrops the highest share on

(03:37):
record.
Additionally, 44.4% of homesales in Q1 2025 include seller
concessions, such as coveringclosing costs or funding repairs
, indicating a shift towardsaccommodating buyers in a
high-cost environment.
Despite these challenges, somehomebuyers remain active,

(03:58):
particularly those seekingmove-in-ready homes in desirable
neighborhoods.
However, many are adopting acautious approach, awaiting
potential decreases in mortgagerates.
In summary, the US housingmarket is ata crossroad, ladies
and gentlemen, with high coststampering buyers' enthusiasm and

(04:19):
prompting sellers to adapt.
Regional variations underscorethe importance of localized
knowledge in real estatedecisions.
That wraps up this week's realestate market update.
If you found this helpful, besure to share it with your
network and tune in next timefor more insights on the latest
market trends.
And hey, if you're seriousabout scaling your real estate

(04:41):
journey, don't miss our upcominglive event happening on May
21st in Allentown, Pennsylvania.
Reserve your spot now atwealthiafai media forward slash
event.
Thanks for listening and seeyou next time.
Peace out.