2005 Buyers Contracts Sellers 
Housing Wire
AUGUST 23, 2022
can’t have a credit sales boom like we saw from 2002-2005. This means we won’t be working from record-breaking demand of high sales like we did at the peak of 2005. The builders are in a better position to manage their inventory glut than when they were working from a credit boom in 2005 that took new home sales up to 1.4
Housing Wire
JANUARY 20, 2023
The lack of sellers is also a demand problem and what we saw after June of 2022 is that sellers called it quits earlier and faster in the year than usual, resulting in total existing home sales totaling 5,030,000 to end 2022. So the fact that we are back to an average of 26 days on market makes me happier.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
Appraisal Buzz
MAY 17, 2021
Between 2002-2005 in many markets, the real estate market was scorching, much like it is today. Prices were escalating quickly, and buyers were purchasing in a frenzy for fear of being left behind and not being able to get their foot on the property ladder. We are seeing that as a profession again. How do we combat this?
Lamacchia Realty
JANUARY 25, 2024
It kept inventory down, which propped up prices, but sales are down nearly 22%, and buyers are hungry. This report breaks down sales, average prices, the number of active listings, and how many listings went under contract for 2023 compared to 2022 and discusses what is predicted to unfold in 2024. Sales Decline by 21.7%
Housing Wire
FEBRUARY 16, 2023
If the homebuilders and homebuyers knew rates would hit 7% in 2022, many would not have taken those contracts they’re canceling now. Buyers have fewer choices than normal in the past eight years — but in reality, since 1982. Just look at the chart below and how bad credit looked from 2005 to 2008, then the job loss recession happened.
Lamacchia Realty
MARCH 26, 2024
Elevated condo association and special assessment fees present an additional financial burden for condo owners, deterring potential buyers unless the purchase price is reduced sufficiently to offset the higher ongoing monthly costs. Source Inventory rises when more sellers are listing than buyers are buying.
Lamacchia Realty
JUNE 21, 2022
Now, months later, with rates up nearly 100% from the start of the year- January mortgage rates were hovering in the low to mid 3’s and this week reached 6.28%- diminished buyer affordability is causing a big downshift in demand. Rising prices weren’t favorable but with historically low mortgage rates , they were still affordable for buyers.
Expert insights. Personalized for you.
370 
Let's personalize your content