Remove Buyers Remove Home Value Remove Inventory Remove Supply Chain
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New home sales fell again in February

Housing Wire

“This transaction volume is taking place against a backdrop of continuous supply chain and labor disruptions.”. At the end of February, an estimated 407,000 new homes were still for sale, which at the current sales rate represents a 6.3 months supply. “One year ago, 31% of new home sales were priced below $300,000.

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The nation’s housing market is on a correction course

Housing Wire

Several leading housing-market economists also are projecting the deceleration in home prices will continue in near the future as homebuyer demand ebbs — with one economist even predicting that prices will decline in some particularly hot markets across the nation. So, home sales have really gotten completely hammered,” Zandi said.

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Market Still Strong as Low Inventory Persists- February Newsletter

DW Slater Company

The demand for housing decreased with the higher mortgage rates as it decreased buyer power. The biggest answer is inventory. The inventory is still at very low levels. No longer are homes selling above list price (see Percent of Orignal Price chart below ) In fact they are selling at a more reasonable 5% below list price.

Inventory 128
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Home prices haven’t risen this fast since 2005

Housing Wire

Phoenix saw a 20% year-over-year home price increase, followed by San Diego with a 19.1% Home price data is consistent with the hypothesis that COVID-19 has encouraged potential buyers to move from urban apartments to suburban homes,” Lazzara said. increase and Seattle with a 18.3%. Presented by: MCT.

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The Current State of The Homebuilding Industry

Eppraisal

economy, home building prominent among them. From COVID-19 interventions to supply chain disruptions to record inflation, the hits kept coming against a real estate market that was already experiencing diminished inventories and a growing pool of buyers. The last few years took a toll on many sectors of the U.S.

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How Will War, Inflation and Rising Interest Rates Affect the Real Estate Market

Eppraisal

From the Russian invasion of Ukraine to continued supply chain disruptions to increasing urban crime to inflation -- always inflation -- we are bombarded with challenging circumstances and pessimistic forecasts. How does this confluence of evil tidings affect home sales? Does Inflation Help or Hurt Home Value?

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2022 Housing Market Predictions: What To Expect

Quicken Loans

In addition, home values and sales skyrocketed. So, it’s no wonder that a year like that left experts and new buyers guessing. Buyer demand continued. In combination with low housing inventory and labor shortages, that drove up selling prices. Home Inventory Will Slowly Rise.