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Will Springer Realtor - Untitled Article

Will Springer Realtor

They have also been spending oodles of money to shape their residences to meet new living needs – modern and spacious, when possible – as households live in their homes for longer. years, according to recent data, when it was only about five years just before the housing market crash of 2007. And, opening this year, Graystone.

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CAN HOUSING SHORTAGE CATCH UP TO EASTSIDE DEMAND?

Will Springer Realtor

While these are promising developments, there will always be the affordability question. This looks a lot like the housing boom that we saw prior to the 2007–09 financial crisis.” That percentage was last seen in September 2007 – yes, at the start of the housing crisis (as the chart shows). CONDO NEWS.

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FED’S ACTIONS TAKE STEAM OUT OF HOUSING MARKET

Will Springer Realtor

Waller went on to say this adjustment is in no way like the horrific housing/financial crises of 2007-2010. People love experiences to fill their memory bank and social media feed – and real estate developers are listening. Counties in and near Chicago and New York City were seen as the most vulnerable to today’s economic headwinds.

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HINTS OF SHARP INCREASE IN NEW CONSTRUCTION

Will Springer Realtor

It is developing several single-family and multifamily communities in King and Snohomish counties. The company forecasts an 8% YoY increase in new communities for 2021 across the U.S. Others – Meritage Homes (+20% YoY in 2021) and Tri Point Homes (+15-30% YoY in 2022) – expect tremendous growth of new communities.

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Millennials Expected To Maintain Real Estate Buying Intensity

Will Springer Realtor

Housing starts – the number of units builders would begin if development kept pace for the next 12 months – increased 19% nationally to a seasonally adjusted annual rate of 1.7 The excess of inventory that occurred in 2007, 2008 and ’09, was an anomaly,” said Marci Rossell, former chief economist for CNBC. We are on the right track.

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IS THE HOUSING MARKET HEADED FOR A CRASH?

Will Springer Realtor

There are at least five factors that make this housing environment far different – and more stable – than roughly a decade ago: Low inventory and lack of supply – There were some 4 million homes on the market nationally in July 2007 compared with about 1.1 The average King County single-family listing sold in May 9.5%