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Housing Market Slows as Buyers and Sellers Wait For Rates to Drop

Appraisal Buzz

With the total number of homes on the market at its greatest point since May 2020 and interest rates about to start declining, buyers will have more options this autumn. Simultaneously, home sellers reduced the number of newly listed properties on the market, with a -0.9% decrease from the previous year. “In from July’s levels.

Sellers 397
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Home Sellers Adjusting to Evolving Market Conditions 

Appraisal Buzz

in February of previous year, indicating that sellers are becoming more accustomed to the present market conditions. over the previous year, making 2019 February the most active month for sellers since 2021. Sellers also listed their homes at higher rates than the previous year, with the number of newly listed homes rising 4.2%

Sellers 368
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Is The Housing Market Becoming Buyer Friendly? 

Appraisal Buzz

The market is trending slightly in the direction of becoming more buyer-friendly thanks to these factors. While the quantity of homes on the market still trails pre-pandemic levels, home buyers are seeing more options to choose from as inventory increases,” said Danielle Hale, Chief Economist for Realtor.com. vs. June 2019).

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Costs Mounting for Homebuyers

Appraisal Buzz

The study found that 48% of buyers said costs were higher than expected, with 39% exceeding their budget and 38% reporting impacts on their savings. Notably, 63% of first-time buyers were surprised by the cost. It was noted that 79% of buyers compromised on at least one priority. Since launching in 2017, Clever has reached $11.4

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New Year Brings New Supply as Seller Activity Shifts

Appraisal Buzz

According to the Realtor.com January Monthly Housing Report, January saw a positive shift in seller activity despite recent hikes in mortgage rates, with the number of newly listed homes increasing 37.5% Buyers & Sellers Thaw Alongside Winter Weather Additionally, for the fifteenth consecutive month, annual inventory increased, with 24.6%

Sellers 332
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Where home seller profit margins are shrinking

Housing Wire

Despite this drop, investment returns for home sellers is still up from 48.8% This coincides with a decrease in gross profits during that time, with the typical single-family home and condo sale dropping 6% to $120,100, representing the largest quarterly decrease since early 2017. Metro results for home sellers.

Sellers 435
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As insurance costs rise, real estate agents have more buyer concerns to assuage

Housing Wire

Now we are looking at a two- to three- business-day process and the buyer may not like the numbers they get back.” For some buyers, surprisingly high insurance premiums are causing them to second-guess the property they have selected. “I She has also started discussing these details with prospective sellers at listing presentations. “No