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How much will home prices climb over the next year?

Housing Wire

All year, the strength of homebuyer demand and the tight supply of homes for sale has meant that the market pretty rapidly found a floor on the home-price correction of 2022. If you were looking at the market in the fall of 2022, you would have expected home prices to continue to fall further in 2023. In 2022 there were 418,000.

Inventory 338
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The homebuilders got lucky this time

Housing Wire

They have less competition as they are working from low sales levels in today’s housing market. However, the glaring difference today versus the recession of 2008, is that in 2007 the builders had to deal with over 4 million active listings as competition for their pricey new homes. When supply is 4.3

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Shrinking Number of New Listings Slows Seattle/King County Housing Activity

Will Springer Realtor

How’s the market, you ask? The typical seasonal spring in its step has been replaced by a slow shuffle as the Seattle/King County residential market tries to find its rhythm in a challenging economic environment. Falling new inventory is constraining transaction volumes while also supporting higher home prices.

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IS THE HOUSING MARKET HEADED FOR A CRASH?

Will Springer Realtor

Fast forward to today and markets here and across our nation are going through serious inflationary pressures. Flood of buyers – As I noted last month , Millennials will fuel this housing market for at least a decade to come as about 4.5 market during the pandemic – and there is great anticipation for strong demand.

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King County Home Sales Cool as Interest Rates Inch Toward 8%

Will Springer Realtor

Unfortunately for buyers, a combination of the typical seasonal trend and higher borrowing costs has slowed housing market activity to an excruciatingly slow pace – and there are concerning signs ahead. First a look at September’s numbers: A wave of last-chance listings for the year hit the market after Labor Day. 1 and Oct.

Buyers 64
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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. If there is a silver lining for those in the market for a home, it’s that prices should fall as demand eases. housing market is experiencing a price “correction,” defined as a 10% price drop from its most recent peak.

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Home Prices Rising Toward Record Highs – Again

Will Springer Realtor

The Seattle/King County housing market inched forward – and a little sideways – as the number of new and unsold listings continued to expand in June while fresh signs of a slowdown approached. The county saw the combined number of single-family, townhome and condo listings increase in June by 4.4% up 5% from May.