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Housing Market Slows as Buyers and Sellers Wait For Rates to Drop

Appraisal Buzz

Simultaneously, home sellers reduced the number of newly listed properties on the market, with a -0.9% In April we noted that rising for-sale inventory was likely to lead to more balance between buyers and sellers. Similar to buyers, sellers reduced their offering in August as newly listed properties dropped 0.9%

Sellers 397
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Even with low inventory, expect a strong 2021 housing market

Housing Wire

Total home sales are outpacing new listings by a wide margin every month, and real estate tech company Homesnap foresees the shortage continuing in 2021 unless more sellers enter the market. The divide between supply and demand is striking: compared to last year, total new listings increased.22%,

Inventory 546
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The 2023 housing market bent, but didn’t break

Housing Wire

Let’s look at the tracker for the week before Christmas and see what the forward-looking data looks like before we open presents. However, one thing is sure: from 2020 to 2023 we never saw credit-stressed home sellers. Historically speaking, 2021 and early 2022 were the two lowest ever in new listings data.

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More than half of homes sold above asking price in May

Housing Wire

The report also shows the housing market also set new records for home-selling speeds and competition, although seasonally adjusted home sales and new listings flattened from April. “Sellers are still squarely in the drivers’ seat, but buyers have hit a limit on their willingness to pay. . from April.

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

Appraisal Buzz

There also is a rising demand for “impeccably presented, move-in ready or new construction homes with attractive pricing,” concurred 44% of the specialists on their survey. As evidence, “a notable uptick in sales was observed from January to May, coinciding with the introduction of new listings,” according to the report.

Buyers 417
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Mortgage rates should drop below 7% as housing demand picks up

Housing Wire

Purchase application data Hello, early Christmas present! One concern with higher mortgage rates was that more sellers — who are traditional buyers — would not list their homes. I talked about growth in the new listings data on CNBC as it appeared to me we were forming a bottom months ago.

Mortgage 543
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Housing inventory growth slows to a halt

Housing Wire

We saw some good growth this week, and hopefully, in 2024, we can close the gap and get back to 2021-2022 data on new listings. That is the critical period for new listing data to grow; remember, most sellers are buyers. Weekly inventory change (Nov.

Inventory 505