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Pending home sales recede in January: NAR

Housing Wire

For comparison, the index is benchmarked at a reading of 100 based on 2001 contract activity. Meanwhile, new home sales , which are also a measure of contract signings, reached a seasonally adjusted annual rate of 661,000 in January, up 1.5% NAR’s Pending Home Sales Index (PHSI) decreased to 74.3 in December.

Contracts 424
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Buyers are getting cold feet as mortgage rates exceed 7%: Redfin

Housing Wire

Buyers facing high mortgage rates are pulling out of their home-purchase agreements at the highest rate in nearly a year. of homes that went under contract that month, according to a new report from Redfin. The average interest rate on a 30-year-fixed mortgage was 7.07% in August. That rate is up from 14.3%

Buyers 414
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Pending home sales surged in December: NAR

Housing Wire

For comparison, the index is benchmarked at a reading of 100 based on 2001 contract activity. The housing market is off to a good start this year, as consumers benefit from falling mortgage rates and stable home prices,” NAR chief economist Lawrence Yun said in a statement. But new listings activity grew by 9.1%

Contracts 450
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Pending home sales are down 31% from last year

Housing Wire

An index of 100 is equal to the level of contract activity in 2001. Yun noted that new listings are down compared to a year ago, as many existing homeowners do not want to give up the 3.0% or lower mortgage rate they locked in at. or lower mortgage rate they locked in at. All four major U.S.

Contracts 521
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2023 Maine Year in Review

Lamacchia Realty

The attempt to restore equilibrium in interest rates, following their drastic drop in 2020, brought about then of pandemic-induced rates, resulting in a sustained presence of higher monthly mortgage payments. In 2023, there were 16,348 homes placed under contract, representing a decrease of 16.4% Maine Sales Decreased by 18.9%

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Will Springer Realtor - Untitled Article

Will Springer Realtor

MAY HOUSING UPDATE Even after a few weeks of mortgage rate jumps, the Seattle/King County housing market is displaying surprising strength. We are seeing more homes for sale in submarkets – except for Mercer Island and Woodinville, where active listings are down 30%+ – compared with a year ago. Prices rose, too, to near-record highs.

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