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Logan Mohtashami’s 2023 housing market forecast

Housing Wire

It got so bad that I labeled the housing market savagely unhealthy in February and deemed it the worst housing market post-2010, as inventory broke to all-time lows and mortgage rates were simply too low to stop the bidding wars. I have been forecasting since 2010 and I’ve only predicted price declines for 2011 and 2012.

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King County Home Buyers and Sellers in ‘Re-Evaluation’ Mode

Will Springer Realtor

Sellers, too, are waiting for the easing of rates before looking for their next home, as estimates show 60% of today’s homeowners possess a mortgage with an interest rate of 4% or less. The single-family housing market is sluggish, as many prospective buyers and sellers have chosen to focus on enjoying the many weeks of beautiful weather.

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High Financing Hurdles Lead to Low Housing Activity in Seattle/King County

Will Springer Realtor

The market is spooking many potential buyers and sellers thanks to stubbornly high mortgage interest rates. Only buyers and sellers who must move are doing so. fewer new listings, the rate of sales rose 1.7% fewer new listings (1998) compared to July and 5.0% The new home market was 31% of the total U.S.

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Mostly Positive Start to 2024 Housing Activity in Seattle/King County

Will Springer Realtor

Annual sales across King County totaled 21,515 homes – down an incredible 24% from the year before and the fewest since 2010 (20,761). And, despite the rise in new listings, the number of homes still on the market on Feb. Seattle led the way with a 156% increase in new listings (517) month-to-month and 4.0%

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Expectations for 2024 in Seattle/King County Real Estate

Will Springer Realtor

The region’s real estate scene in 2023 will be remembered for rising home prices and scant new listings. Buyers and sellers tiptoed through caution. As the year dims, all eyes fixate on 2024’s potential: a hopeful dance fueled by dreams of lower rates and a wave of new homes for sale. Um, bye-bye! The number of U.S.

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Affordability Woes Prompt Historic Housing Slowdown

Will Springer Realtor

Beyond labor strife, America’s home buyers and sellers appear to be on strike as well. October figures from the Northwest Multiple Listing Service strongly suggest prospective buyers and sellers are taking a wait-and-see approach. New listings in King were off 26% month-to-month (1583) and Active listings were down 9.4% (2296).

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FINDING THE KEY TO UNLOCK ‘STUCK’ HOMEOWNERSHIP RATE

Will Springer Realtor

The rate today is the same as in the late 1960s, except during the housing bubble of 2008-2010 when ownership rose – and we know how that ended up! Fudge noted that supporting the construction of manufactured and 3-D printed homes were avenues “being discussed” at HUD. BY THE NUMBERS. >> month to month (436) and 6.1%

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