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The nation’s housing market is on a correction course

Housing Wire

Rising interest rates and a slowing economy overall are already taking some of the air out of the rapid home-price appreciation the housing market has experience over the past year, according to the recently released Federal Reserve Beige Book for July. The market is going to go into correction,” he said. “I

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Pending home sales drop, but there’s a silver lining

Housing Wire

Despite the decline, many industry observers see big potential for the housing market in the year ahead. It’s no secret that low mortgage rates and societal shifts brought on by COVID-19 have collided to form a red-hot housing market. Making housing more affordable by bridging the affordable supply gap.

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Will Springer Realtor - Untitled Article

Will Springer Realtor

month backlogs of contract work, as of Q4 (latest data available), which is down from the peak of 4.8 In many cases, the long lag time to complete projects is no longer from dreaded supply-chain issues. years, according to recent data, when it was only about five years just before the housing market crash of 2007.

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CITIES FACE DAUNTING OFFICE-VACANCY CHALLENGE

Will Springer Realtor

We certainly see that in all forms of residential real estate – from new construction to finding items for the home. The brighter news is that labor shortages and supply-chain disruptions are improving but it’s hardly “back to normal.” New single-family-home listings rose 3.8%

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Will Springer Realtor - Untitled Article

Will Springer Realtor

Some might argue the cold is emanating from the near-frigid Q4 real estate market, knocking the bloom straight off the housing-market rose in our region. The county saw a 33% drop in new listings and a 15% decline in active homes for sale since October. A little more than a third of inventory is under contract.