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

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.

Chapters

• 0:00 Market Update Introduction
• 0:19 US Housing Market Big Picture
• 1:15 Regional Market Insights Across America
• 2:30 Profit Through Property Live Event
• 3:27 Current Buying Trends and Conclusion

Transcript

Speaker 1: 0:00

Welcome back to this week's real estate market update. In this episode, we're diving into the latest market moves you need to know. Plus, stick around because there's an exclusive live event happening on May 21st in Allentown, Pennsylvania, and it just might change the way you build wealth forever. Let's start with the big picture. The big picture According to Redfin, the median US home sales price has reached a new peak of $387,600, up 4% from the previous year. Concurrently, the average 30-year fixed mortgage rate stands at 6.76%, contributing to a record high median monthly housing payment of $2,868. Despite these soaring costs, pending home sales have declined by 3.9% year over year, making the most significant drops in three months. This dip is attributed to both economic uncertainty and seasonal factors, such as the timing of Easter. Interestingly, while new listings have increased by 5.5% compared to last year, the overall inventory remains tight, keeping the market competitive in many, many areas. Zooming into specific regions the Washington DC market the capital has seen a 25% year-over over year increase in active home listings, the highest since 2015. This surge is largely due to significant federal layoffs, prompting many to list their homes. San diego, california over half of the homes sold in february went for less than the asking price, reflecting a shift towards a more buyer-friendly environment. Florida, the state's pandemic-era housing boom, has officially cooled, with median home prices dropping 1.7% year-over-year the steepest decline in over a decade. Factors include high insurance costs and stricter condo regulations. Texas cities like Austin and Dallas have experienced slight decreases in monthly mortgage payments attributed to reduced demand amid economic uncertainties.

Speaker 1: 2:23

Before we jump back in, let's talk about an exciting opportunity for real estate professionals in Pennsylvania or around the country. If you want to join me on May 21st, join us in Allentown, PA for Profit Through Property Mastering, Management and Wealth an exclusive evening designed to help you scale your portfolio, sharpen your management strategies and connect with seasoned experts in the field, Hosted by yours truly, plus an interactive hot seat session with my very own property manager, Carmelo Carrasco, CEO of Axel Property Management. This is your chance to gain real world insights and network with some of the sharpest minds in the game. That's May 21st, from 6 pm to 9 pm at the Axel Property Management Office, 450 Union Boulevard, 3rd floor in Allentown, PA. Seats are limited, so lock in your spot now. Visit wealthyafmedia forward slash events to register for free tickets.

Speaker 1: 3:26

Now back to the headlines. Current market dynamics reveal that nearly 7% of homes on the market have experienced price drops the highest share on record. Additionally, 44.4% of home sales in Q1 2025 include seller concessions, such as covering closing costs or funding repairs, indicating a shift towards accommodating buyers in a high-cost environment. Despite these challenges, some homebuyers remain active, particularly those seeking move-in-ready homes in desirable neighborhoods. However, many are adopting a cautious approach, awaiting potential decreases in mortgage rates. In summary, the US housing market is ata crossroad, ladies and gentlemen, with high costs tampering buyers' enthusiasm and prompting sellers to adapt. Regional variations underscore the importance of localized knowledge in real estate decisions. That wraps up this week's real estate market update. If you found this helpful, be sure to share it with your network and tune in next time for more insights on the latest market trends. And hey, if you're serious about scaling your real estate journey, don't miss our upcoming live event happening on May 21st in Allentown, Pennsylvania. Reserve your spot now at wealthiafai media forward slash event. Thanks for listening and see you next time. Peace out.