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Don’t expect a drastic housing market turnaround in 2023, Fitch Ratings says

Housing Wire

Builders feel more confident in the market, housing inventory data is positive and buyer demand for mortgages has increased — but don’t be fooled. “A small offset or decline in home values, which we are starting to see, (…) can help that consumer who’s in the market for the first time,” Brown said.

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How the housing market will evolve in 2023

Housing Wire

After two years of runaway home prices, the Federal Reserve stepped in to reverse engineer rampant inflation, and it has been utilizing the housing market as one of the main economic engines to achieve its objective. in December 2022, its highest level since 2007 and its fastest rise in more than 40 years. They eased below 6.5%

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A housing boom doesn’t portend a bust

Housing Wire

Various mortgage finance innovations facilitated larger loans at the same monthly payment to keep up with growing home values – which is one reason why house prices kept going up. Housing is not overvalued: If housing is appropriately valued, house-buying power should equal or outpace the median sale price of a home.

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Houston Housing Market Forecast: Current Data & 2021 Predictions

Houston Properties

This highlights the importance of Avoiding the 9 Most Common Mistakes Buyers Make. Do You Want To Buy A Home Now? Avoid 9 Costly Mistakes Sellers Make. Buyers Beware? Today's monthly payments on a $500,000 mortgage are about the same as a $210,000 mortgage from the mid-1990s or a $300,000 mortgage from 2007.

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How Was The Housing Market in 2022?

Birmingham Appraisal

The higher rates resulted in larger mortgage payments which took many buyers out of the market. The dynamics of supply and demand dictate that as demand decreases (because buyers are leaving the market due to higher mortgage payments) prices will drop. The volume reminds me of what we saw in 2007-2008 during the recession.

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Buyer’s vs. Seller’s Market: How to Tell the Difference

Assurance Financial

The key to getting the best possible value for your money is understanding what’s happening in your local real estate market — whether you’re a buyer or a seller. What’s the Difference Between a Buyer’s and Seller’s Market? Buyer Expectations. What Is a Buyer’s Market?

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SELLERS’ MARKET? HOW ABOUT BUILDERS’ MARKET?

Will Springer Realtor

housing starts, when builders break ground and lay a foundation, are forecast to finish this year at 1.04M single-family homes, the first time since 2007 the figure will exceed a million. Amid rising land and construction costs, permits for single-family homes in King County slowed in the third quarter to 940, down 7.8%

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