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Housing demand remains strong, and despite extremely tight inventory and rising prices, home sales are running at their strongest pace in over a decade.”. The ongoing refinance wave has been beneficial to homeowners looking to lower their monthly payments during these challenging economic times brought forth by the pandemic,” he said.
Also helping buyers is an increase in housing inventory, Ridenour Lindsey said. “It It is hard to tell if more homes are being listed or if things are just sitting a bit longer, but there is definitely more inventory,” she said. Ward said this slowdown has led to an increase in housing inventory. We have about 2.6
There is currently an inventory of 642,359 properties. Vacancy rates from 2003 to 2024 (Source: Census Bureau ) As of February 2025, the national median rent price is $1,375. The median list price of homes in the US is $435,000; the median price of new listings is $435,900. 10% of properties have been relisted. Rent prices are up 0.3%
This scarcity in inventory had the effect of keeping prices high, but there was a substantial decrease in sales, approximately 19%, leaving prospective buyers eager. This resilience is more attributable to the reduction in inventory rather than a decline in sales. Maine Sales Decreased by 18.9%
VA’s Tidewater Initiative written in 2021 by McKissock (Similar idea as current ROV changes), effective in 2003. My comments: I find this post’s appraiser comments most interesting, especially those from VA appraisers who have been required to use the VA’s Tidewater Initiative, which started in 2003. percent from 7.29
Two percent of newly originated mortgages were originated to subprime borrowers, a sharp contrast to the 12% average seen between 2003-2007.”. You can clearly see that inventory is increasing as the number of active listings is growing, and we are not finished with July. The average contract interest rate for 5/1 ARMs decreased to 4.55
“The number of homeowners deciding to sell continues to lag, but inventory and time on market continue to [mostly] climb, reflecting still-hesitant buyers.” each month between 2003 and 2022.) Condo inventory stands at 1.7 months’ inventory for all home types, down sharply from 2.3 Eastside inventory is 1.4
But the boost in purchase business likely won’t be enough to prevent operational contraction: As margins shrink, lenders will likely have to lay off staff and renegotiate compensation. The second-lowest LO turnover rate was in 2003, at 31%. Meanwhile, in 2020, LO turnover was the lowest in the survey’s history, at 21%, the MBA found.
The buying frenzy and low inventory we saw last year and will continue to see for better parts of this year may push buyers (specially if driven by bad advice from an unseasoned Realtor) to make bad decisions. Year Built: 2003. Overall, right now properties are still actively going under contract. Geo Market Area: Westchase.
Built in 2003, the Mediterranean style primary residence totals 4, 050 sq. Anyway, I don’t mind going back in time and out further, but my preference in an appraisal report is to use older comps from the immediate neighborhood and adjust for how the market has changed since those properties got into contract. percent the previous week.
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