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

Housing Wire

of homes that went under contract that month, according to a new report from Redfin. Rates last month surged to 7.23%—the highest since 2001 – sending the typical homebuyer’s monthly payment up significantly from last year. They’re getting cold feet,” said Jaime Moore, a Redfin Premier real estate agent in Reno, Nevada.

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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% regions recorded year-over-year decreases in contract signings. or lower mortgage rate they locked in at. “On

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2023 Maine Year in Review

Lamacchia Realty

2023 marked a significant chapter in real estate history, on the state level in Maine as well as nationally. If we were to pinpoint the standout factor, it would be the remarkably low number of homes listed, the lowest in over two decades. Furthermore, it delves into predictions for the real estate landscape in 2024.

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Will Springer Realtor - Untitled Article

Will Springer Realtor

A year later, the same real estate consultancy estimates the number has expanded to 2.1M, a jump of 24%. An annual survey released this month by the Federal Reserve Bank of New York said renters put the probability of ever owning a home at 40%, down from 44% last year. We are now experiencing historic shortages.

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