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

Housing Wire

“But if the pandemic surges up again, I think we’re just going to get busier and busier here, because we are definitely located in the correct position, outside of New York City, where parents can still commute to work and children can have space needed for homeschooling and things like that,” Kanacki said.

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Here’s what is happening in local housing markets across the country

Housing Wire

Local real estate agents, loan officers and appraisers share what characteristics are currently defining their housing markets. Single-family homebuyers who entered contract, meanwhile, slalomed to 12 total in July compared to 46 a year earlier, per the report. Aspen, Colorado.

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When it comes to home sales, August is the new May, keeping agents busy into the fall

Housing Wire

Rather than a typically busy spring home-buying season , the COVID-19 pandemic pushed the bulk of home-buying this year into the summer months, and real estate agents are busier than ever. Since homebuying season was pushed back from this spring, realtor.com ’s Housing Market Recovery Index reported that August is the new May.

Agents 544
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Luxury Market Heats Up as Affluent Buyers Seek ‘Forever Homes’

Appraisal Buzz

“Transitions in life stages are increasingly becoming a primary motivator for property sales, leading to a preference for homes that can accommodate a family’s needs through various life phases,” 22% of luxury real estate agents agreed in the survey. A slight increase in luxury home inventory is expected, 59.3%

Buyers 417
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Housing inventory fell last week. Have sellers called it quits?

Housing Wire

Since mid-2022 when mortgage rates headed higher , two facts have been apparent: new listings data has been trending at the lowest levels ever recorded in history and inventory has been able to grow from record low levels thanks to mortgage rates staying elevated. Let’s see what the data for last week tells us.

Inventory 523
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Redfin: Over half of buyers are going above asking price

Housing Wire

Diving deeper, for the two week period ending May 9, 2021, 57% of homes that went under contract had an accepted offer within the first two weeks on the market. ” How real estate agents can alleviate consumer pain points in a tight market. Asking prices also reached an average of $361,875, another record high.

Buyers 448
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Buyers are getting cold feet as mortgage rates exceed 7%: Redfin

Housing Wire

of homes that went under contract that month, according to a new report from Redfin. I’ve seen more homebuyers cancel deals in the last six months than I’ve seen at any point during my 24 years of working in real estate. They’re getting cold feet,” said Jaime Moore, a Redfin Premier real estate agent in Reno, Nevada.

Buyers 448