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House flipping hits lowest level since 2000

Housing Wire

of all home sales in the first quarter of 2021 were flips — or one in 37 transactions, the lowest level since 2000. How fix’n’flip loans could help expand housing inventory. The post House flipping hits lowest level since 2000 appeared first on HousingWire. were flipped in the first quarter. Presented by: Acra Lending.

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Mortgage rates surge to highest level since 2000

Housing Wire

The 30-year fixed-rate mortgage has hit the highest level since the year 2000,” Sam Khater, Freddie Mac’s chief economist said. However, unlike the turn of the millennium, house prices today are rising alongside mortgage rates, primarily due to low inventory.

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Housing inventory still near record lows

Housing Wire

months’ worth of housing inventory in the U.S. NAR: Total housing inventory registered at the end of March was 980,000 units, up 1.0% Unsold inventory sits at a 2.6-month Total housing inventory, while up year over year, is still near all-time lows, and monthly supply is also up year over year. We only have 2.6

Inventory 523
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Days on market grow despite low inventory for existing homes

Housing Wire

The National Association of Realtors (NAR) reported today on two trends in existing home sales that we have seen for many months now: sales are declining while total inventory data has fallen directly for the three straight months. Total housing inventory fell in this report, the third report in a row that shows total inventory has decreased.

Inventory 487
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Tight credit, high rates and low inventory add to buyers’ affordability struggles 

Housing Wire

Tightening credit availability, elevated rates, inventory shortages and strengthening home prices are adding to affordability challenges, the report notes. One key contributor to the affordability challenges is dwindling inventory nationwide. Since the start of 2023, inventory has deteriorated in 95% of major markets, the report notes.

Inventory 402
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Home prices climb amid shrinking inventory, modest bump in demand

Housing Wire

In March, a modest bump in homebuyer demand, combined with a decline in for-sale inventory, drove up home prices compared to the month prior. While the annual home price growth rate is on track to fall to roughly 0% by April, low inventory levels will limit just how far that metric will fall in the coming month, Walden noted.

Inventory 344
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Why are exisitng home prices up year over year?

Housing Wire

Inventory still negative year over year From NAR: Total housing inventory registered at the end of August was 1.1 Unsold inventory sits at a 3.3-month The housing inventory data has been negative year over year per the NAR data for the past few months. Year-over-year, sales fell 15.3% (down from 4.77 from July and 14.1%

Inventory 506