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Luxury home sales rise 41.5%, making biggest jump since 2013

Housing Wire

In the largest increase since 2013, luxury home sales rose 41.5% While sales in this segment of the housing market have skyrocketed, the sales of medium-priced homes went up only 3% and sales of affordable homes actually declined by 4.2%. Notably, the only market with increased inventory was luxury.

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Logan Mohtashami’s 2023 housing market forecast

Housing Wire

The 2022 housing market was savagely unhealthy , with all-time lows in inventory leading to massive bidding wars and price spikes until the Fed put a screeching halt to all of it with rate hikes that resulted in the most significant one-year spike in mortgage rate history. From 2013 to 2022 I forecasted price growth every year.

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The housing market is still savagely unhealthy

Housing Wire

However, the real story of 2022 is that the savagely unhealthy housing market continues as inventory is still lower than last year, sending home prices growth into double digits again. housing market; the 10-year is above 1.94%, something that didn’t happen in 2020 or 2021. million and 6.16

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Beware of gloom and doom housing market crash headlines

Housing Wire

I’m talking about housing market crash headlines. The housing data has been wild this year. These dramatic peaks and valleys in the data have fed the demons of greed and fear that infest the minds our extreme housing bulls and the fierce housing market bears – leading to equally wild speculations about the future of U.S.

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Housing Market Tracker: Inventory finally rises

Housing Wire

Can we now say that the housing market ‘s spring selling season is finally underway? Since 2020, the seasonal bottom for housing inventory has arrived several months later than normal, making it more complicated to track housing inventory data. months shows how far we are from 2008 housing economics.

Inventory 545
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Lower mortgage rates are stabilizing the housing market

Housing Wire

Now, with five weeks of data in front of us, we can say they have stabilized the market. Since the summer of 2020, I have believed the housing market could change in terms of cooling down, but it would require the 10-year yield to break over 1.94%. The question then was: What would lower mortgage rates do to this data?

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Luxury housing market inspires ‘total frenzy’ in vacation boom towns

Housing Wire

In the third quarter, luxury home sales jumped 41.5% , the biggest year-over-year shift since 2013, according to Redfin. And while real estate agents repping luxury homes aren’t seeing as many bidding wars as they did this summer , their respective housing markets are still crazy right now. Very, very unique.”.