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Lower mortgage rates are stabilizing the housing market

Housing Wire

Now, with five weeks of data in front of us, we can say they have stabilized the market. 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.

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The standoff between homebuyers and sellers

Housing Wire

There’s a showdown at the housing market corral between homebuyers and sellers. When I came up with the “ savagely unhealthy housing market ” label in February of this year, it was based on the premise that the housing inflation story that we have had to deal with since 2020 was a historical event.

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100+ YEARS IN, ZONING LAWS INCH TOWARD HOUSING EQUITY

Will Springer Realtor

The city expects about eight projects to qualify for the exemption each year, with a total of about 725 units of new housing. MHA requires developers building market-rate apartments, townhomes and other developments to either include affordable units on-site or pay fees. Seattle alone saw a 29% (1213) monthly increase in new listings.

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CAN HOUSING SHORTAGE CATCH UP TO EASTSIDE DEMAND?

Will Springer Realtor

just as Google opens another office building in Kirkland and Microsoft expands its 120-structure Redmond campus with plans for 17 new office buildings. All this tech construction gives new meaning to IT architecture! “A The housing market has become bubbly,” said economist Enrique Martinez-Garcia of the Federal Reserve Bank of Dallas.

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Millennials Expected To Maintain Real Estate Buying Intensity

Will Springer Realtor

Warns Danielle Hale, chief economist with realtor.com: “While younger Millennial and Gen Z buyers are expected to play a growing role in the housing market, fast-rising prices will create a bigger barrier to entry for the many first-time buyers in these generations who don’t have existing home equity to tap for down payment savings.”.

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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. About 57% of all new housing was classified multifamily (four or more units in one location). A sliver of a silver lining developed in our still-hot housing market, as King County saw more homes for sale at the end of July than 31 days earlier.