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

Housing Wire

Rates last month surged to 7.23%—the highest since 2001 – sending the typical homebuyer’s monthly payment up significantly from last year. I’ve seen more homebuyers cancel deals in the last six months than I’ve seen at any point during my 24 years of working in real estate. New listings have likely bottomed out,” she said.

Buyers 399
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New Western taps new chief marketing officer

Housing Wire

Real estate investment firm New Western has named Kuba Poraj-Kuczewski as its chief marketing officer. The Texas firm has locations in more than 25 cities and connects with sellers more than 100,000 local investors looking to rehab houses, according to its website.

Marketing 343
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Pending home sales fall 38% in November

Housing Wire

An index of 100 is equal to the level of contract activity in 2001. Pending-home sales in November reflect a freeze in the housing market, as buyers remain on the sideline and sellers are staying put,” Odeta Kushi, First American’s deputy chief economist, said in a statement.

Contracts 487
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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. The Federal Reserve has had to drastically raise interest rates to quell inflation, which has resulted in far fewer buyers and even fewer sellers.”. or lower mortgage rate they locked in at.

Contracts 515
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A look behind this year’s Tech100 winners

Housing Wire

This isn’t a new story in mortgage lending or real estate brokerage. But ultimately, efficient mortgage lending and real estate sales is what is most important to a healthy housing market. Real estate is local. Tech100 Real Estate Winners. This could be read through a negative lens.

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Cardinals of a different feather: Inside Samson Properties’ unique model

Housing Wire

Donny Samson is quite aware of this particular moment in residential real estate history. “I real estate agent is in peril. The Department of Justice Antitrust Division is in its ninth month of a broad inquiry into what consumers pay on real estate commissions, which DOJ officials appear to think is too much.

Brokerage 370
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Why home-price growth is still up 18% year over year

Housing Wire

Total Inventory had been growing from 2001-2005; total listings data in 2005 was at the higher historical range of 2.5 NAR Total Listing Data: If we cut the timeline to the last time inventory grew, which was 2014, you can see this downtrend in inventory, unlike 2001-2005, when inventory grew from 2 million to 2.5 million listings.

Inventory 381