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Existing home sales are working from a historic low bar

Housing Wire

Our housing market tracker counts weekly active single-family listings, those homes that aren’t in the contract, and the raw available number of homes for sale. This is why the Altos Research numbers we cite are always smaller than the NAR numbers, which accounts for all home types and those in contract. All four U.S.

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Housing inventory falls under 1M again as sales collapse

Housing Wire

housing market , we just experienced an event that most people never thought could happen. The one period where this didn’t happen was from 2006-2011, when credit forced Americans to sell, to rent or to be homeless. During that period, we saw new listing data decline. The days on market were too low.

Inventory 536
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Mortgage rates hold steady at key level for now

Housing Wire

Mortgage rates were lower in late 2022 and early 2023 with a higher inflation growth rate and the Fed still hiking because the bond market anticipated a Fed pivot or a recession, neither of which happened. As mortgage rates rise, there is weakness in demand and homes don’t go into contract immediately.

Mortgage 442
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Existing home sales data shows extent of housing inflation

Housing Wire

The savagely unhealthy housing market theme of mine is running in full force now as we have gotten no relief on home prices and now have a mega jump in mortgage rates. . Since the summer of 2020, I have talked about what could change the housing market, which was a 10-year yield above 1.94%, which means rates over 4%.

Inventory 435
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Massachusetts 2023 Year in Review

Lamacchia Realty

2022 was down in sales from 2021 just like this past year , and at that time , many were concerned that it was a sign the market was about to crash, something Anthony has repeatedly dispro ved. Slower market activity this year, however, is representative of the journey back to equilibrium. The opposite is happening now.

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Rhode Island 2023 Year in Review

Lamacchia Realty

2022 also witnessed a decline in sales compared to 2021, accompanied by attention-grabbing headlines that fueled concerns about an imminent market crash. The market’s resilience can be attributed more to the decrease in inventory than the decline in sales. Lowest number of homes listed in recorded history, down 19.5%

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New Hampshire 2023 Year in Review

Lamacchia Realty

The real estate landscape witnessed significant developments in 2023, as the New Hampshire market saw a historic low in listings. Sales were also down in 2022 , which sparked concerns of a market crash , but as Anthony predicted, it didn’t happen , more thanks to reduced inventory rather than a decline in sales.