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Lower mortgage rates are stabilizing the housing market

Housing Wire

For months I have been saying we were going to have challenging comps from October to January because last year at this time mortgage volume was rising — a rare event this late in the year. One issue that has created a waterfall dive in purchase application data and sales is that new listing data is declining faster than usual.

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The standoff between homebuyers and sellers

Housing Wire

There’s a showdown at the housing market corral between homebuyers and sellers. When I came up with the “ savagely unhealthy housing market ” label in February of this year, it was based on the premise that the housing inflation story that we have had to deal with since 2020 was a historical event.

Sellers 498
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Existing home sales data shows extent of housing inflation

Housing Wire

The savagely unhealthy housing market theme of mine is running in full force now as we have gotten no relief on home prices and now have a mega jump in mortgage rates. . Since the summer of 2020, I have talked about what could change the housing market, which was a 10-year yield above 1.94%, which means rates over 4%.

Inventory 437
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FED’S ACTIONS TAKE STEAM OUT OF HOUSING MARKET

Will Springer Realtor

Seriously though, there must be a ceiling to rising rates that have all but extinguished a robust housing market. housing market is experiencing a price “correction,” defined as a 10% price drop from its most recent peak. OCTOBER HOUSING UPDATE. List: $3.2M ($703/sq. 1 were both up about 10% month-to-month.

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Will Springer Realtor - Untitled Article

Will Springer Realtor

today – may hold the keys (literally and figuratively) to the housing conundrum. Baby Boomers still have a significant impact on various aspects of society, including the housing market, healthcare and the economy. With the settlement, a wave of new listings hit the market in the past several weeks.

HOA 36
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PREDICTIONS, PARKING, POLLUTED PIPES

Will Springer Realtor

I wrote in this newsletter 12 months ago about the bumpy – maybe even bruising – housing market of 2022 across Puget Sound and most of the country. Ready to complete another year, the residential real estate market has not improved – some might say it got a little worse. List: $10.25M ($2362/sq. To a happy 2024! =

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ROOTING HARD FOR LOWER MORTGAGE RATES

Will Springer Realtor

It’s a positive shift that could soon reshape the landscape of the housing market, offering hope and opportunities for those eager to embark on a new homeownership journey. The 802 new listings last month were a low not seen since records were archived online from 1990. List price: $6.499M ($1161/sq.