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Lower mortgage rates are stabilizing the housing market

Housing Wire

What I mean by a credit bust is that after the housing bubble burst in 2005 into 2006, we saw a massive increase in supply. Since they were distressed forced sellers, inventory skyrocketed in 2006 and stayed very elevated in 2007 and 2008. Total inventory levels. NAR: Total Inventory levels 1.22

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The standoff between homebuyers and sellers

Housing Wire

Inventory, which has been falling for years, broke to all-time lows in 2020. We didn’t have a seasonal push in inventory in 2020, and things worsened in 2021. Of course, this has brought back some inventory, as demand weakness always creates inventory through accumulation. million active listings, but at just 1.28

Sellers 501
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CAN HOUSING SHORTAGE CATCH UP TO EASTSIDE DEMAND?

Will Springer Realtor

The 323,465 flipped single-family, condo and townhomes in 2021 is the highest number since 2006 and represented 5.5% That includes 621 fewer Pending contracts in April 2022 than the previous April, as the net number of new listings remains on average lower than in years past. of all home sales last year. a month ago.

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Millennials Expected To Maintain Real Estate Buying Intensity

Will Springer Realtor

This was the fastest pace for combined single-family and multi-family construction since June 2006. >> The lack of inventory to keep real estate moving is confirmed with the latest data on U.S. The excess of inventory that occurred in 2007, 2008 and ’09, was an anomaly,” said Marci Rossell, former chief economist for CNBC.

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IN DIRE NEED OF GENERATIONAL RESPONSE TO HOUSING SHORTFALL

Will Springer Realtor

Lawrence Yun also said this figure will be the highest rate of sales since 2006. Some highlights from the Northwest Multiple Listing Service (through July): The combined number of condo, townhome and single-family homes on the market as of Aug. The number of new listings for all home types (4428) fell 7.8% months (0.6