article thumbnail

Compass CEO Reffkin believes agents will still be valued in a post-settlement world

Housing Wire

First, more buyers are using agents in 2023 than in 2003. Second, buyer agreements are not new. We found that more than 99% of new listings in March included offers to pay the buyer’s agent. Furthermore, more than 96% of all listings included offers of 2% or more, and more than 67% are offering to pay 2.5%

Agents 332
article thumbnail

Higher rates flip the homebuilders’ fortunes (again)

Housing Wire

If sales are working from an elevated number, like what we saw from 2003-2005, it’s a different subject altogether. When we look at active listings today, we are still at 980,000, near all-time lows, even with the recent massive hit to demand. To get more inventory you need more Americans to list their homes.

Inventory 419
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

2023 Maine Year in Review

Lamacchia Realty

2023 Sees the Lowest Number of Homes Listed in Twenty-Two Years In 2023, there was an 12% decrease in listings compared to 2022, with 20,546 homes listed compared to 23,342 in the previous year. Contrary to popular belief, interest rates don’t just impact buyers, they impact sellers as well as demonstrated in 2023.

article thumbnail

Economic Turbulence Prompts Seattle Area Market Concern vs. Year Ago

Will Springer Realtor

The number of new listings of all home types (single-family, townhome and condo) in King County climbed 6.4% (1866 units) from January to February, as expected, and total inventory at the start of March (2064) was 111% higher than a year ago. each month between 2003 and 2022.)