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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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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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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 369
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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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Will Home Sales Increase in 2025?

Appraisal Buzz

We are once again expecting mortgage rates to get better gradually, and opportunities for buyers should follow, but be prepared for plenty of bumps on that path. The need for buyers to be prepared to relocate when the time comes is further reinforced by recent and erratic decreases in mortgage rates. 28 New York $680,934 7.0%

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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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Coastal California metros were the priciest  in March: Zillow

Housing Wire

Home prices are surging in major U.S. metros, with coastal California cities and Seattle leading the charge in monthly home value growth, according to Zillow’s newest market report. These metros also continue to grapple with below-average inventory recovery, maintaining pressure on buyers.