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Is housing market demand starting to weaken?

Housing Wire

Nearly 50% of homes sold for more than their list price during the four weeks ending May 16, but there are signs that housing market demand may be reaching its peak, according to a recent study from Redfin. 2019 is being used as a reference point since 2020 data is skewed by the pandemic.). from a year ago.

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Housing Market Tracker: Purchase apps jump 25%

Housing Wire

Here’s the housing market rundown for the last week: Purchase application data had a solid week-to-week gain of 25%. Housing inventory decreased by 566 units, which is not a significant decline. Mortgage rates fell, but the bond market didn’t break what I see as a critical level, so for now, stabilization is more important.

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Housing Market Tracker: Higher rates crush purchase apps 

Housing Wire

We created the weekly Housing Market Tracker because housing data has been so wild since 2020. The housing market madness persisted last week as inventory fell and higher mortgage rates took a bigger bite out of purchase application data. However, we are noticeably down from the 2019 levels.

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Is the savagely unhealthy housing market back?

Housing Wire

Just when I thought days on market were returning to normal, that number for existing homes fell back down to 22 days. If the days on the market are at a teenager level or even lower, it’s never a good sign for the housing market. Instead, active listings are near all-time lows, which wasn’t the case from 2012-2019.

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Is the spring housing market about to rebound?

Housing Wire

While it’s not as clear how long-lasting the rebound will be, it does still provide some much-needed good news for the spring and summer housing market. This article is part of our ongoing 2023 Housing Market Forecast series. After this series wraps, join us on May 30 for the next Housing Market Update Event.

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Key housing markets are starting to buck national trends: Redfin

Housing Wire

Florida homeowners, on average, now pay $6,000 a year to insure their property — triple what they paid in 2019, according to the Insurance Information Institute. S&P Global found that homeowners insurance rates in Florida soared by 43.2% from 2018 to 2023.

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The 2023 housing market is at odds with itself

Housing Wire

On the one hand, elevated mortgage rates continue to erode buyers’ purchasing power, and in some markets, home prices are falling. All major housing market metrics point to a restrained housing market. The number of new listings coming on the market this spring is lower than it has been in more than a decade.