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Why home prices haven’t crashed even with high mortgage rates

Housing Wire

The most underreported housing story I’ve seen this year is that even with mortgage rates rising to 8%, the number of homes that took price cuts before they sold was 4% below 2022 levels. This happened even with higher home prices and higher mortgage rates in 2023. Now lets take a look at the weekly inventory data.

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How will mortgage rates impact seasonal inventory in 2024?

Housing Wire

How will mortgage rates impact seasonal inventory in 2024? Also, when mortgage rates rise, the inventory peak happens later in the year. Since eight of the last nine weeks (excluding the holiday period) have had positive purchase application data, I might need to wait a few more weeks before we see the seasonal bottom.

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Better inflation data won’t sway the Fed

Housing Wire

The Consumer Price Index data released Wednesday showed again that the breakaway 1970s-style inflation is not happening, even with an expanding economy and an unemployment rate under 4%. As I am writing this article, it’s trading at 3.42%. The headline inflation data came in lower than anticipated.

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How to Find Comps With Few Sales

Appraisal Today

I appraise a lot of 2-4 units and regularly go to other neighborhoods for comps. Excerpts: 8 bedrooms, 7.5+ I wrote that blog after 8 years of experience. I wrote an article Why I am an appraiser, in a recent paid monthly newsletter (excerpts below). To read more about the 4 ways, plus information on why I take ads, etc.

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Why Appraisal Workfiles Are Important

Appraisal Today

To read more, Click Here My comments: The article also discusses bias. NOTE: Please scroll down to read the other topics in this long blog post on appraiser discrimination lawsuit, waivers, staying positive with slow business, appraiser’s economic forecast, unusual homes, mortgage origination stats, etc.

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USPAP Myths for Appraisers

Appraisal Today

Lender issues are a significant factor in USPAP and Myths 1 to 4. NOTE: Please scroll down to read the other topics in this long blog post on New CA bias classes, 2024 New Years resolutions, 2024 goals, unusual homes, mortgage origination stats, etc. Excerpts: 4 Bedrooms, 4.5 baths, 4,000 sq.ft.,

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Appraisals: Using Comps Across a Freeway?

Appraisal Today

NOTE: Please scroll down to read the other topics in this long blog post on time saving tips, Waivers, Non-lender appraisals, Tax savings, unusual homes, mortgage origination stats, etc. Large beach front home in Milton, Delaware for $2,588,170 4 bedrooms, 3.5+ 4 ways to get only the FREE email newsletters and NOT the ad-only emails.