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Pop the champagne! Existing-home sales post first annual gain since July 2021

Housing Wire

year-over-year improvement, marking the first annualized increase since July 2021. The worst of the downturn in home sales could be over, with increasing inventory leading to more transactions,” NAR chief economist Lawrence Yun said in a statement. At the end of October, the number of unsold homes rose 0.7%

Inventory 370
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With low inventory, house hunters are in full safari mode

Housing Wire

The nation’s housing industry has entered a new normal in which the dynamics of the market appear perplexing — marked by high mortgage rates and high home prices, along with shrinking mortgage originations. The perplexing part: Why are home prices not declining in this environment? through the first quarter of 2024.”

Inventory 488
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What Home Depot’s Q4 earnings say about the 2025 housing market

Housing Wire

That 1% growth projection is below the 1.65% rate expected by Wall Street analysts, and comes on the back of a fairly disappointing 2024, in which elevated mortgage rates , inflation and high home prices led to fewer home-improvement projects despite record levels of home equity. Decker noted that comparable sales grew 0.8%

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A homebuyer’s personal story from the post-Sitzer, post-settlement world

Housing Wire

Finding an agent Like 43% of homebuyers , I began my search online, as I worked to get a sense for what the inventory in my preferred areas and in my price range looked like. While I absolutely could have begun my home search with an agent, as a reporter covering the space, I know how busy agents are.

Agents 435
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Most prospective buyers want turnkey homes, despite higher prices

Housing Wire

This finding likely stems from an increase in renovation costs over the past three years, forcing some buyers to pursue costly financing sources to improve their homes. A study by online home improvement platform Houzz highlighted a 60% increase in renovation expenses between 2020 and 2023.

Buyers 418
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Homeowners Staying Put Amid Low Housing Supply, Leveraging Home Equity

Appraisal Buzz

The continuous housing shortage has also had an impact on this choice, since it has prompted many current homeowners to remain in their homes and take use of their equity. Instead of dealing with the difficulties of purchasing in a competitive market, many homeowners are choosing to invest in their existing homes. “By

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Many baby boomers live in “time capsules” that need renovations to age in place

Housing Wire

Fifty-five percent of surveyed baby boomers plan to remain in their existing homes as they age, but less than a quarter of those surveyed have any plans to renovate their homes to more safely and easily accommodate natural changes that come with aging.