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Buyer Competition Expected to Ramp Up This Fall 

Appraisal Buzz

According to Zillow’s most recent market report , reduced mortgage rates and more inventory are providing house buyers with a window of opportunity at an uncommon time of year. Buyers have more options to choose from for two reasons. Beyond that, more inventory is becoming available enough to improve buyer negotiating power.

Buyers 396
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Sellers Listing Their Homes … But Buyers Aren’t Biting 

Appraisal Buzz

Home sellers are returning to the market, but buyers are hesitant, according to a recent Zillow market report. In May, new property listings exceeded sales, allowing buyer competition and price rise to slow—and more price relief is expected. Home values are down from year-ago levels in three major metro areas.

Sellers 397
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U.S. Rental Markets Experiencing ‘Regional Divide’

Appraisal Buzz

The “last call” for homes before the holiday shopping season ends is being boosted by reduced mortgage rates, which is attracting increased interest from both buyers and sellers. relative to pre-pandemic norms) and new listings (-17%) approached their pre-pandemic averages more closely than they had in previous months.

Marketing 221
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Housing Market Nears $50T Valuation Milestone

Appraisal Buzz

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. have joined New York City, Los Angeles, Atlanta, and Boston in the trillion-dollar club. New Brunswick’s total home value surged 13.3%

Valuation 417
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First-time buyers need to earn $64,500 to afford a typical starter home

Housing Wire

In June, the typical starter home sold for a record $243,000, up 2.1% New listings of starter homes dropped 23% from a year earlier in June, the biggest drop since the start of the pandemic, the report found. Austin buyers must earn $92,000, down 3.3% Austin buyers must earn $92,000, down 3.3%

Buyers 370
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Homebuyers No Longer Spooked by Market Conditions

Appraisal Buzz

September 2024: National Housing Metrics Median listing price : (Change over September 2023: -1.0% 2019: +36.0 %) Active listings : (+34.0 %) (-23.2 %) New listings : (+11.6 %) (-11.8 %) Median days on market : (+7 days to 55 days) ( -7 days) Share of active listings with price reductions : (+0.5

Marketing 418
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When Is the Best Time to Purchase a Home?

Appraisal Buzz

With mortgage rates on the decline and housing supply ramping up, affordability is on the rise for many, Realtor.com’s latest market analysis found that much anticipated market relief is on the way, and many potential buyers are stepping off the sidelines. home value is presently $362,481, up 3.3% over the past year.

Inventory 397