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Pending home sales fall to their lowest level in two decades

Housing Wire

Historically high rates harmed the housing market in October Annualized existing home sales remained below 4 million in October, the lowest rate since 2010. Meanwhile, new home sales posted a better performance as homebuyers pivoted to new construction amid waning existing home supply. New home sales fell 5.6%

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Here’s what you can expect from the 2024 housing market

Housing Wire

The number of home sales in 2023 will likely be at its lowest level since 2010, and while sales activity will pick up in 2024, transactions will still be below average. Consumers will reset their expectations, and as rates move lower, there will be both more buyers and more sellers in the market. In a typical year, there are about 5.2

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Homeowners are staying in place twice as long as they did 20 years ago: Redfin

Housing Wire

were 65 and older as of 2020, up from 13% in 2010,” the report reads. Some young families are turning to new construction, and others are renting homes.” Older generations have an outsized level of influence over the U.S. housing market for multiple reasons, Redfin said.

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Can first-time homebuyers afford homes today?

Housing Wire

Since October of 2022, the share of buyers who are purchasing their home without a mortgage has been more than one quarter of the market. The share is collected monthly in the Realtors Confidence Index and includes buyers who purchased primary homes, vacation homes and investors. One such measure is who is entering the market.

Realtors 419
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A closer look at housing markets across the country

Housing Wire

The agent said rich “mainland” residents replaced international buyers, who are restricted in their travel amid the pandemic. While we have lots of new construction, there are lots of delays due to shortage of materials and also construction workers,” said Ethel Curbow, an agent at AMAX real estate. national unemployment rate.

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Gentrification, Neighborhood Boundaries, and Bias

Appraisal Buzz

I welcome your constructive and thoughtful comments. In fact, Capital Public Radio reported that Oak Park’s black population dropped by 24% since 2010. And where would buyers be hunting for a home before shopping somewhere else? In other words, how much would buyers pay for a specific house in a specific location?

Appraisal 195
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Millennial Homebuyers in 2021

DataMaster

In the last year their price tags have jumped to levels that worry first-time buyers and would-be upgraders. Between 2010 and 2017, homeownership rates increased only among adults aged 65 and older. Eighty-one percent of all home buyers have bachelor degrees or higher with similar numbers in the Millennials group. Covid-19.

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