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NAR: Almost 50% of homes sold for more than list price

Housing Wire

The National Association of Realtors Confidence Index Survey for April reveals how hot the housing market is. Per the report, homes that sold had five offers on average , and nearly 50% of homes sold for more than their list price during the four weeks ending May 16. The pandemic continues to impact how people live and work.”

Realtors 497
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The mortgage rate lock-in didn’t start in 2022

Housing Wire

After an initial rush to get to market in Q2 2022, new listings volume fell precipitously. In July 2022, new listings volume per week dropped from 90,000 at the end of June to approximately 74,000 just after the July 4th holiday. million in January 2021 (when mortgage rates were 2.7%) fell to 3.9

Mortgage 459
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Is housing inventory growth really slowing down?

Housing Wire

One of the most important housing market stories in recent weeks has been the decline in new listings , which has slowed the growth rate of total inventory. Redfin : Realtor.com : Altos Research : Clearly, we are seeing a slowdown in new listings as the data has been negative now for months. What does this mean?

Inventory 526
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Redfin: Bidding wars drop slightly in June

Housing Wire

The market is still competitive, but buyers are more trepidatious than they were at the start of 2021, and less willing to pull out every stop in order to win.” An improving supply situation may also be making a difference, with new listings up 4% year over year — meaning more properties are hitting the market for buyers to bid on.

Inventory 511
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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 With the home-price growth we had in 2020 and 2021, my five-year price-growth model that I set for 2020-2024 of 23% was already smashed in just two years. jump from August 2021 ($361,500), as prices ascended in all regions.

Inventory 482
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No seasonal slowdown this year as real estate agents report a busier-than-usual fall

Housing Wire

Realtors can usually count on their biggest season being spring, followed by summer, but nothing about 2020 has been normal, including home-buying patterns. With shut-down orders in the spring, summer became the new home-buying season, but homebuyers were still incredibly active in August. Over the last four weeks ending on Sept.

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The housing market is losing steam

Housing Wire

New listings are also up 4% year over year, meaning more properties are hitting the housing market for buyers to bid on. million homes, according to the National Association of Realtors. Redfin reported recently that 65% of home offers written by company agents in June faced competition, down from a rate of 72.1% million and 1.92