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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 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. From NAR Research : “Total existing-home sales notched a minor contraction of 0.4%

Inventory 437
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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. And what a thoughtful listing video.

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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% LUXURY LIVING King County is well known for its amazing mid-century modern homes.