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New listings surge as the spring buying season approaches

Housing Wire

New listings ticked up by 21% in February compared to last year, according to Zillow ’s February report. New listings rose 20% from January, and each of the 50 largest U.S. metros experienced an increase in new listings. Texas and Florida saw the biggest jump in new listings, year over year.

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Housing Market Nears $50T Valuation Milestone

Appraisal Buzz

In a decade, the value of U.S. homes has more than doubled, rising nearly 120% from $22.7 Chen Zhao, Redfin’s Economics Research Lead, predicts that the market will likely surpass $50 trillion within the next 12 months due to a lack of new listings keeping prices elevated. New Brunswick’s total home value surged 13.3%

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Homebuyers No Longer Spooked by Market Conditions

Appraisal Buzz

“Now that we’re seeing mortgage rates down to their lowest levels in two years, there are signs of movement, with more sellers putting homes on the market even in what’s typically a real estate shoulder season.” September 2024: National Housing Metrics Median listing price : (Change over September 2023: -1.0%

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When Is the Best Time to Purchase a Home?

Appraisal Buzz

During this week, Realtor.com found that buyers could save in excess of $14,000 compared to summer’s peak price on the median priced home and could see as much as 37% more inventory than at the start of the year. home value is presently $362,481, up 3.3% According to Zillow , the average U.S. over the past year.

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Borrowers opt for permanent rate buydowns amid affordability challenges

Housing Wire

“On the surface, it may seem the market has been stirred by a full point decline in interest rates and home prices coming off their peaks – but it’s not that simple,” Graboske said. December did see home values post their sixth consecutive monthly decline, and prices at the national level are now 5.3%

Inventory 397
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Price Growth Begins to Moderate in Once-Hot Pandemic Boomtowns

Appraisal Buzz

Per CoreLogic’s research, South Dakota—home to the historical Mount Rushmore—is the state with the second-fastest rate of appreciation, and Camden, New Jersey is among the top metro areas for appreciation in March 2024. Leading the lead in March 2023 were Miami and Florida. There is some variance in 2023 activity, though.

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The nation’s housing market is on a correction course

Housing Wire

Freddie Mac projects that home-price growth will average 12.8% in 2022 but will drop to 4% in 2023. By comparison, home-price growth was 17.8% trillion 2023, down from $4.8 In fact, Coronado said for some markets that have experience rapid home-price appreciation, a decline in home values may benefit the overall market.