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New listings data falls for third week in a row 

Housing Wire

The moves haven’t been significant and our weekly pending contracts data picked up this week. Weekly housing inventory data For the third consecutive week, we haven’t quite reached my weekly target of inventory growth between 11,000 and 17,000 homes. When mortgage rates increase, demand falls and the price-cut percentage grows.

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Mortgage credit availability tightened in May

Housing Wire

Mortgage credit availability dropped in May, a consequence of a tougher mortgage landscape that has resulted in lender consolidation as well as high rates and limited inventory that has stretched consumer budgets. The monthly Mortgage Credit Availability Index fell by 3.1% last month, according to the Mortgage Bankers Association.

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Are new home sales flagging a recession?

Housing Wire

Going back to the summer of 2020, the one factor that I said could change the housing market was the 10-year yield getting above 1.94%. The market is savagely unhealthy and needs balance; this is what we call balance! However, the housing market changed once the 10-year yield broke over 1.94%. Guess what happened in March?

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Connecticut 2023 Year in Review

Lamacchia Realty

This created an extreme scarcity of inventory and contributed to elevated prices, but it also led to a 22% decrease in the number of sales, leaving buyers eager. The resilience can be attributed mostly to the decrease in inventory. The slower market activity in the following year reflects a move towards equilibrium.

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Economic Turbulence Prompts Seattle Area Market Concern vs. Year Ago

Will Springer Realtor

The opening months of the Seattle/King County housing market can best be expressed as sparks of activity within a mostly tentative purchasing environment. Sellers who priced their homes appropriately enjoyed busy open houses in their first weekend on the market followed by multiple offers. decline over the 12 months ending March 2012.

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King County Housing Market Stumbles to 2022 Finish Line

Will Springer Realtor

Each month, this blog will publish a fresh assessment of the King County area housing market. A patch of foul weather and persistent economic challenges chilled an already cold housing market. Homes going under contract (Pending sales) dropped 25% from the previous month and by 30% year-on-year (YoY) – staggering drop-offs.

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MBA economists: The overcapacity that still needs to be cut

Housing Wire

After two record-setting years of mortgage origination volume, the mortgage industry is contracting, sharply. The monthly Employment Situation Summary news release based on the CES data is regarded as a key report in gauging the health of the overall job market. By comparison, we are forecasting total volume of about $2.3

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