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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.

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Existing home sales data shows extent of housing inflation

Housing Wire

Today the National Association of Realtors reported that existing home sales fell once again to 4.80 From NAR Research : “Total existing-home sales notched a minor contraction of 0.4% Existing home sales have more legs to go lower, especially now that new listing data is falling. However, it’s not the market of 2002-2011.

Inventory 435
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Will Springer Realtor - Untitled Article

Will Springer Realtor

” Bough presided over a trial last year that ended in a $1.8B (yes, with a “B”) verdict against the National Association of Realtors® (NAR). That’s up from 36% of sales in 2022 but far from the peak this century of 45% in 2011, according to ATTOM. >> >> All-cash purchases accounted for 38% of U.S.

HOA 36
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HINTS OF SHARP INCREASE IN NEW CONSTRUCTION

Will Springer Realtor

Most notably, it’s the first time mortgages declined from Q1 to Q2 since 2011, according to ATTOM Data Solutions. averaged a 17% home-price rise from Q2 of 2020 to Q2 of 2021 and prices have risen nationally each quarter since Q3 of 2011. >> The pandemic seriously affected U.S. New data show this subset of buyers accounted for 2.8%

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CAN HOUSING SHORTAGE CATCH UP TO EASTSIDE DEMAND?

Will Springer Realtor

Between 2011 and 2019, the median household income in our area increased by about 34% but housing prices jumped 78%. That includes 621 fewer Pending contracts in April 2022 than the previous April, as the net number of new listings remains on average lower than in years past. List price: $3.495M ($782/sq.

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RISING INFLATION, RATES TRIP UP HOUSING MARKET

Will Springer Realtor

The King County housing market has seen inventory increase by 55% in the past month, while the number of homes going under contract fell 22% from May to the lowest June level since 2011. While the number of new listings in June jumped 8.2% in our region. The fresh data show a clear slowing of the housing market.