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Pending home sales dip as “seesaw” market continues

Housing Wire

An index of 100 is equal to the average level of contract activity during 2001, the first year examined. May’s 8% increase was the highest jump for that month since 2005, according to NAR. ” The post Pending home sales dip as “seesaw” market continues appeared first on HousingWire. rise from a year ago.

Marketing 441
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Housing inventory falls under 1M again as sales collapse

Housing Wire

housing market , we just experienced an event that most people never thought could happen. However, in 2020 new listing data came back, and we don’t want to see the new listings continue to decline this year — that would be a double negative for the housing market. The days on market were too low.

Inventory 541
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Mortgage applications fall for fourth week

Housing Wire

Record-low inventory is pushing home-price growth at double the rate from a year ago, and even above the 10% growth rates seen in 2005,” Kan said. “The housing market is in desperate need of more inventory to cool price growth and preserve affordability.

Mortgage 431
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Pending home sales crush hopes of forbearance crash bros

Housing Wire

is the highest reading for May since 2005. Contract signings rose in all regions in May compared to the prior month and one year ago. Here is what is happening: The COVID-19 shutdowns paused sales during what looked to be a solid market going into the first few months of 2020. The May 2021 Pending Home Sales Index of 114.7

Realtors 491
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The Similarities Between 2007 and Today

Appraisal Buzz

Many of the complaints and allegations about appraisals related to not addressing the changes happening in the market as the meltdown began to occur, calling the market stable when prices were starting to decline. Between 2002-2005 in many markets, the real estate market was scorching, much like it is today.

Appraisal 418
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Price Adjustments in this New Housing Market

Lamacchia Realty

In early March it was becoming clear that the market was changing from a frenzied post-pandemic scene to one where rising mortgage rates would slow it down and help inventory finally rise back up. That’s because fewer homes are being placed under contract. By creating demand with accurate pricing and aggressive marketing.

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Builders apply the brakes amid canceled contracts

Housing Wire

For this reason, the number of housing units “under construction” is the largest ever recorded in history because they were taking so long to finish. For the builders, they have a new problem: they had homes under contract and then mortgage rates jumped in the biggest fashion ever recorded in history. Housing starts.

Contracts 545