Remove 2007 Remove Contracts Remove Inventory Remove Realtors
article thumbnail

Existing home sales will drop to 4.78 million in 2023, NAR predicts

Housing Wire

The National Association of Realtors predicts there will be 4.78 Fraud risk continues to rise even as the market contracts . He also stressed that the conditions present in 2007 during the foreclosure crisis look very different than today. million existing home sales in 2023, down 6.8% from the 5.13

Realtors 405
article thumbnail

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. Price adjustments/decreases were up across the country in May. See chart below.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Local Markets: Louisville, Reno and San Diego

Housing Wire

Also helping buyers is an increase in housing inventory, Ridenour Lindsey said. “It It is hard to tell if more homes are being listed or if things are just sitting a bit longer, but there is definitely more inventory,” she said. Ward said this slowdown has led to an increase in housing inventory. We have about 2.6

Marketing 335
article thumbnail

Houston Housing Market Forecast: Current Data & 2021 Predictions

Houston Properties

Top Ranked Realtors: Paige Martin & The Houston Properties Team. 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. Properties are still going under contract. We saw historically low home inventory buoyed by low-interest rates.

article thumbnail

Price Adjustments in Florida Rise Rapidly

Lamacchia Realty

As you can see in the chart below, Florida has the highest shift in rising inventory over the past twelve months. Source Condo inventory has been rising more than single families as sales have been decreasing since 2023. Source Inventory rises when more sellers are listing than buyers are buying.

article thumbnail

When Will This Market Change?

Lamacchia Realty

Sellers kept listing, albeit, at a much slower pace, and buyers were buying at the highest rate in over 15 years, absorbing inventory faster than ever. Low rates, even lower inventory, maxed out demand, and anemic supply remained the name of the game for well over a year until this past winter, when it truly plunged to incredible lows.

article thumbnail

Houston Real Estate Market Forecast: Current Data & 2022 Predictions

Houston Properties

This is more concerning now that 71% of Houston Realtors have sold less than 5 homes in their entire career. Best Houston Realtors: Paige Martin & The Houston Properties Team. "A good and experienced Realtor should protect their clients from making bad mistakes, specially when putting emotions over data.