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The health of this housing market: Comparing 2024 data to 2011

Housing Wire

Let’s look specifically at the current market data compared to 2011. Why choose 2011? The housing bubble crash years of 2008-2011 saw a surge in foreclosures due to the lack of selling equity and this also profoundly impacted housing demand. Last week in 2011, 396,955 homes hit the market without a contract.

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Existing home sales data shows extent of housing inflation

Housing Wire

Today the National Association of Realtors reported that existing home sales fell once again to 4.80 Existing home sales have more legs to go lower, especially now that new listing data is falling. However, it’s not the market of 2002-2011. From NAR Research : “Total existing-home sales notched a minor contraction of 0.4%

Inventory 482
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Existing home sales are working from a historic low bar

Housing Wire

To give you all some perspective, this data line dropped all the way to 14 days in the crazy period of COVID-19, while back in 2011, it was 105 days. In the CNBC interview, I stressed that we do have one positive on the inventory side of things: we are seeing new listings data growth.

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Are you fighting margin compression with data or guesses? 

Housing Wire

But, the really painful trend is new listings data. New listings data is trending at the lowest levels ever recorded in U.S. Last week there were only 62,000 new listings that came to the market. Back in 2011, it was 101 days. The new listings data trending at all-time lows does not help that at all.

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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% Compare that to 2009 to 2011, when this data line ran at 250,000 to 400,000 per week.

Mortgage 497
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Agents harness the power of social media to generate leads

Housing Wire

When Gogo Bethke began her career in real estate back in 2011, the Romanian immigrant felt like social media was her only option to generate leads and close deals. “I Instead, the Michigan-based eXp agent created her Facebook business page shortly after passing her licensing exam in 2011 and named it “Gogo’s Real Estate.”. “I

Agents 418
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Affordability Woes Prompt Historic Housing Slowdown

Will Springer Realtor

Sales activity across the county is at historic lows; no October has experienced fewer listings in King County – not even close – since at least 1992 when records were first archived online. New listings for all home types in King County stood at 2157, a whopping 25% drop from September to October. Closed sales fell 0.9%