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Opinion: Here’s the latest data on what Realtors are witnessing in the housing market

Housing Wire

The monthly Realtors Confidence Index helps to dispel many of the myths and cut through the noise of what is currently happening in the market. The National Association of Realtors Research Group has produced the index since 2008, at a time of turmoil in the real estate market. In comparison, in 2011, homes took 96 days to sell. .

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Homes in Boise, Idaho are “flying off the market”

Housing Wire

It’s not uncommon to hear that bids on homes are that high, according to Stacie Herrig, a Realtor with Epic Realty in Meridian, Idaho, and sometimes she can see 10 to 20 offers on a home. Notably, in 2011, existing home prices in Ada County were at $160,113. They bid $750,000 and again at $775,000, which the seller said would work.

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As insurance costs rise, real estate agents have more buyer concerns to assuage

Housing Wire

These rate hikes come as the Insurance Information Institute estimated that 2023 was the worst year for underwriting losses by home insurers since 2011. But if there was a new roof, it would be $2,800 a year, so we ended up renegotiating with the seller for a new roof,” Clarkson explained.

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Mauricio Umansky wants the real estate industry to ignore the ‘noise’ around the NAR settlement

Housing Wire

In 2011, he founded the innovative brokerage The Agency RE, and he recently launched a real estate agent trade group that aims to serve as an alternative to the National Association of Realtors (NAR). If you analyze how a commission is paid, a commission has always been paid by the buyer, not by the seller.

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Existing home sales lay the path for the 2024 housing market

Housing Wire

From the National Association of Realtors (NAR): Total existing-home sales – completed transactions that include single-family homes, townhomes, condominiums and co-ops – elevated 0.8% The marketplace data told us we had no stressed sellers in 2023. So let’s take a look at the playbook. million in November. from one year ago (1.12

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Homeowners gain $8.2 trillion in housing wealth over 10 years

Housing Wire

trillion in housing wealth, according to a new study by the National Association of Realtors , released on Wednesday. from the fourth quarter of 2011 through the fourth quarter of 2021, according to NAR, and as of Q4 2021, the median single-family existing-home sales price rose by at least 10% in 67% of 183 metro areas tracked by NAR.

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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. This is a positive for housing in 2024 as most sellers are buyers.