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Inventory needs to increase to balance housing market: Fed Beige Book

Housing Wire

High inflation has reduced consumers’ purchasing power, which has led to weakened sales and construction across all 12 Federal Reserve districts. While home prices have started to inch down, more inventory is needed for a balanced housing market, the Federal Reserve Beige Book said.

Inventory 391
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Can we still avoid a recession?

Housing Wire

The downturn in the LEI reflects consumers’ worsening outlook amid high inflation and rising interest rates, as well as declining prospects for housing construction and manufacturing. In addition, prices paid for transportation of products from China to the U.S. NAR total inventory data: 1,220,000 listings.

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Will Springer Realtor - Untitled Article

Will Springer Realtor

Housing inventory nationwide flipped from oversupply to undersupply about a dozen years ago when consumers and the banking industry began to slowly rebound financially from the Great Recession. America’s shortfall is most acute with the most vulnerable, as affordable housing inventory has been shrinking for decades. shy of the need.

HOA 36
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A CALL FOR MORE ACCESSORY DWELLINGS AMID HOUSING CRUNCH

Will Springer Realtor

ADUs also help local economies by providing housing to people on the lower-to-middle economic scale to live within typically pricy urban areas that are closer to job centers and greater public transportation options. Inventories are on the rise, so much so that one area is now considered a buyer’s market. year-on-year (YoY).

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IS THE REAL ESTATE WINDOW CLOSING SHUT?

Will Springer Realtor

Construction could start as soon as 2022 on an ambitious three-tower project known as Cloudvue. Buyers will likely snap up any home to be within walking distance of the new transportation hubs. Coincidentally, one of my listings currently is in the UDistrict, three blocks from the rail station. New listings are up 6.3%

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Millennials Expected To Maintain Real Estate Buying Intensity

Will Springer Realtor

Now, home builders would need to construct as many as 1.2 This was the fastest pace for combined single-family and multi-family construction since June 2006. >> The lack of inventory to keep real estate moving is confirmed with the latest data on U.S. million more home listings across the U.S. million units.

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Will Springer Realtor - Untitled Article

Will Springer Realtor

Whether it was cutting red tape and construction costs or ensuring our cities allow more affordable options near transit and jobs, these bills, working together, mean more homes, at more affordable prices, in communities all across our state.” Falling new inventory is constraining transaction volumes while also supporting higher home prices.