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Housing Market Nears $50T Valuation Milestone

Appraisal Buzz

housing market is rapidly approaching the $50 trillion mark, with the total value of homes across the country hitting a record $49.6 trillion, according to a new report by Redfin. In a decade, the value of U.S. In a decade, the value of U.S. Rural home values rose 7% year over year to $7.8 As the U.S.

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Prices for luxury homes soared in the first quarter 

Housing Wire

Redfin defined luxury homes as those estimated to be in the top 5% of their metro area based on market value, while non-luxury homes are those with estimated values in the 35th to 65th percentile. High-end buyers tend to be more immune to mortgage rate fluctuations and flock to the luxury housing market.

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The Cleveland Area Housing Market Was Skating Along… And Then This Happened

Cleveland Appraisal Blog

We all needed some rest from the crazy housing market we’ve experienced in recent years. Like most markets across the country, the Cleveland area housing market has been red hot for the past few years. How have the rapidly increasing mortgage interest rates impacted the housing market in Northeast Ohio?

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Near-Record Housing Costs Pushing Homebuyers Away

Appraisal Buzz

And the average active listing has been on the market for 46 days, up 2.3% year-over-year—the largest increase in nine months—indicating that property listings are becoming stale faster than they were a year ago. Housing Market Highlights: The Four Weeks Ending June 2 The median sale price was $392,200, representing a 4.4%

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RISING INFLATION, RATES TRIP UP HOUSING MARKET

Will Springer Realtor

The screeching you heard in June was the sound of brakes being applied to the housing market across the U.S. The King County housing market has seen inventory increase by 55% in the past month, while the number of homes going under contract fell 22% from May to the lowest June level since 2011. Not really sure.”.

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FED’S ACTIONS TAKE STEAM OUT OF HOUSING MARKET

Will Springer Realtor

Seriously though, there must be a ceiling to rising rates that have all but extinguished a robust housing market. housing market is experiencing a price “correction,” defined as a 10% price drop from its most recent peak. OCTOBER HOUSING UPDATE. That’s the first time a Fed official has acknowledged the U.S.

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2022 Massachusetts Mid-Year Report

Lamacchia Realty

Homes Listed for Sale. There were 49,839 new active listings in the first half of 2022 compared to 53,823 last year , a 7.4% If one needs to move, they need to move and thus the rate hike will start to seem normal, and the market will still live on. People will list if they need to make a move.

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