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Lower mortgage rates are stabilizing the housing market

Housing Wire

One issue that has created a waterfall dive in purchase application data and sales is that new listing data is declining faster than usual. Traditionally, when mortgage rates rise post-2012, home sales trend below 5 million. That’s a double whammy on demand and a reason for the waterfall in existing home sales data.

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HOUSING ‘TRIFECT’ PUTTING SQUEEZE ON BUYERS

Will Springer Realtor

The season has been shaped by slumping new listings, a slowly climbing number of homes sitting on the market from previous months, fewer closed sales compared to last year and prices moving plus/minus five percentage points year-on-year (YoY). Tickets Tour Modern Homes, Sept. Belltown/Seattle) 21+ with ID. Various times.

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IN DIRE NEED OF GENERATIONAL RESPONSE TO HOUSING SHORTFALL

Will Springer Realtor

Housing affordability decreased in 45 of the 50 states from 2012 to 2019. Look at the green states of Idaho, Nevada and Utah on the 2012 map; they have seen housing affordability plummet by 2019, skipping past the yellow category to brown in less than a decade. The number of new listings for all home types (4428) fell 7.8%

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Millennials Expected To Maintain Real Estate Buying Intensity

Will Springer Realtor

Its data show home prices have far outpaced incomes since 2012. The county saw new listings and end-month Active listings rise but Pending sales slip, suggesting buyers are no longer snatching every listing on the Northwest MLS as they become available. Listed at $1,995,000 ($725/sq. This 3-bed , 3.25-bath,