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Existing home sales are working from a historic low bar

Housing Wire

To give you all some perspective, this data line dropped all the way to 14 days in the crazy period of COVID-19, while back in 2011, it was 105 days. In the CNBC interview, I stressed that we do have one positive on the inventory side of things: we are seeing new listings data growth.

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Homebuyers increasingly seek ARMs as mortgage rates soarĀ 

Housing Wire

Buyers, builders and sellers take a step back as inflation persists . On the heels of heightened mortgage rates and persistent inflation, buyers, builders and sellers have taken a step back to consider their best course of action. Sellers are responding to the shift in the market and pulling back on listing activity, resulting in a 9.8%

Mortgage 393
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Logan Mohtashamiā€™s 2023 housing market forecast

Housing Wire

I have been forecasting since 2010 and I’ve only predicted price declines for 2011 and 2012. However, weeks after that call, the new listing data started to decline noticeably, which makes that call much harder to happen in 2023. months on a three-month average and new home sales are growing. million in 2023.

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Agents harness the power of social media to generate leads

Housing Wire

When Gogo Bethke began her career in real estate back in 2011, the Romanian immigrant felt like social media was her only option to generate leads and close deals. ā€œI Instead, the Michigan-based eXp agent created her Facebook business page shortly after passing her licensing exam in 2011 and named it ā€œGogoā€™s Real Estate.ā€. ā€œI

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HINTS OF SHARP INCREASE IN NEW CONSTRUCTION

Will Springer Realtor

Others ā€“ Meritage Homes (+20% YoY in 2021) and Tri Point Homes (+15-30% YoY in 2022) ā€“ expect tremendous growth of new communities. And many of the new projects are larger than in years past. Builders began construction on just under a million single-family homes in 2020. New data show this subset of buyers accounted for 2.8%

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Affordability Woes Prompt Historic Housing Slowdown

Will Springer Realtor

Beyond labor strife, Americaā€™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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Will Springer Realtor - Untitled Article

Will Springer Realtor

Builders are trying to catch up and, according to federal officials , there are more housing units under construction today than at any time in the last 50 years. An annual survey released this month by the Federal Reserve Bank of New York said renters put the probability of ever owning a home at 40%, down from 44% last year.

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