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Pending home sales fall to their lowest level in two decades

Housing Wire

Pending home sales in October fell to their lowest level since 2001. Meanwhile, new home sales posted a better performance as homebuyers pivoted to new construction amid waning existing home supply. As mortgage rates edged near multi-decade highs, pending home sales declined 1.5% down from 72.6 in September. New home sales fell 5.6%

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Pending home sales rebound in March

Housing Wire

relates to a baseline of 100 that the NAR put together in 2001. “By By coincidence,” the NAR explained, “The volume of existing homes sales in 2001 fell within the range of 5 to 5.5 An index based on 2001 figures shows historic shifts in population. New residential construction building permits in the U.S. population.”.

Contracts 414
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Pending home sales fall 38% in November

Housing Wire

Falling home sales and construction have hurt broader economic activity.”. An index of 100 is equal to the level of contract activity in 2001. Year over year, the Pending Home Sales Index was down 37.8%, marking the 18 th consecutive month of annual declines.

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Some mortgage companies expanding despite challenges

Housing Wire

Mortgage lenders and real estate investment firms this month entered tight housing markets in the Midwest and the Northwest to better reach prospective homebuyers, despite a challenging mortgage market. When we help bring distressed properties back to the market, it’s up to 31% less expensive than a new construction home.”.

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Japanese luxury-home developer plans U.S. IPO

Housing Wire

Tokyo-based Lead Real Estate Co. Lead Real Estate (LRE) seeks to have its ADS securities listed on the NASDAQ Global Market exchange. The company initially expanded into the United States in 2017 with the launching of a Dallas-based subsidiary now called Lead Real Estate Global Co. stock market.

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Mortgage rates rise again, but look poised to drop in the fall

Housing Wire

Another rate hike in September would move the target federal funds rate to its highest level since March 2001. The economy remains strong for the real estate sector According to George Ratiu, chief economist at Keeping Current Matters , real estate markets have benefited from more people gaining jobs and better paychecks this year.

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The Supply Chain Reaction – Interview with Greg Stephens

Appraisal Buzz

Some of the biggest factors affecting the real estate industry are supply chain shortages – rising material prices are adding tens of thousands of dollars to the cost of a new home. There are distinct supply chains involving residential and commercial construction. Can’t make that time for the webinar?