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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. Seasonal impacts are the norm with housing, and new listing data is negative 6% year to date.

Inventory 493
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Even with falling rates, the housing market is shaping up to be bad in Q4

Housing Wire

That’s the largest year over year existing home sales decrease since 2007. More potential homebuyers were squeezed out from qualifying for a mortgage in October as mortgage rates climbed higher,” National Association of Realtors Chief Economist Lawrence Yun said in a statement. Existing home sales last month declined 5.9%

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Why are existing home prices rising when sales are still so low?

Housing Wire

The one thing that is positive this year which is different than last year is new listing data is rising year over year, nothing spectacular, but it’s a positive story for housing This means we have more sellers that will be buyers in 2024. million, and in 2007, it peaked at 4 million.

Inventory 505
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Price Adjustments and the 2024 Market

Lamacchia Realty

First, the losing buyers are still actively pursuing new listings, keeping demand high. An experienced REALTOR® will make it very clear from the beginning that pricing right is the key to selling faster and for more money. If three weeks go by, contact your REALTOR® to discuss an adjustment to the list price.

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Expanding Supply, Easing Prices Bring Relief to King County Housing Market

Will Springer Realtor

“The recent development of lower mortgage rates coupled with increasing inventory is a powerful combination that will provide the environment for sales to move higher in future months,” Lawrence Yun, chief economist for the National Association of Realtors® said in September. The number of Active listings is another eye-opener.

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Appraiser Salaries

Appraisal Today

The sellers custom built the home between 2007 and 2009, using high-end materials and finishes, including a wall of windows and 26-foot-high ceilings in the great room. In Bakersfield, for example, Golden Empire MLS participants can submit a form to post new listings, open houses and price changes.

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Why are home prices rising with higher mortgage rates?

Housing Wire

If you take 2007-2011 out of the equation, we have had only one year go negative; that was 1990, and that was only a 1% decline. The National Association of Realtors ‘ existing home sales report shows home sales dropped only 1.0% In 2007, active inventory spiked to 4 million. million in September.

Mortgage 497