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Rising insurance costs, ample inventory create a unique market in Southwest Florida

Housing Wire

“I think one of the major trends we are seeing is that our overall inventory is up 60% year over year compared to 2023,” said PJ Smith, president of the Naples Area Board of Realtors and the broker-owner of Naples Golf to Gulf Real Estate. “We Smith attributes the uptick in inventory to a bump in new listings.

Insurance 372
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Days on market grow despite low inventory for existing homes

Housing Wire

The National Association of Realtors (NAR) reported today on two trends in existing home sales that we have seen for many months now: sales are declining while total inventory data has fallen directly for the three straight months. Seasonal impacts are the norm with housing, and new listing data is negative 6% year to date.

Inventory 461
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Changing homebuyer expectations are slowing the housing market

Housing Wire

It’s not unusual for a little jump in new listings in September. I interviewed Dr. Jessica Lautz from the National Association of Realtors for the Altos podcast and we talked about the prospect of 8% mortgage rates. It’s more than I expected a few weeks ago, but there’s still not a lot of new supply. What’s happening?

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Existing home sales are working from a historic low bar

Housing Wire

It happened in 2008 and then didn’t happen again until 2023. In the CNBC interview, I stressed that we do have one positive on the inventory side of things: we are seeing new listings data growth. This is a positive for housing in 2024 as most sellers are buyers. I call it an alligator chart opening its mouth, see below.

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What Could Make Home Prices Drop in 2023?

Empire Appraisal Group

Florida Realtors. Buyer demand has dropped due to rising rates, and seller supply slowed too, creating an uneasy balance. But if buyers drop or sellers expand more, it will impact prices. NEW YORK – The U.S. What Could Make Home Prices Drop in 2023? Source: What Could Make Home Prices Drop in 2023?

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2023 Massachusetts Mid-Year Report

Lamacchia Realty

Sales are down now due to major mortgage rate increases crushing buyer affordability, and sellers hesitating to list their homes because they don’t want to lose their low pandemic era rates. Listings are the lowest they have been in recorded history, click here to read our recent report (or see below in our Listings section).

Sellers 57
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Real Estate Real Fast EP4 (solo-show with Aaron talking Fall/Winter 2022 Texas housing market)

Listing Spark

What should buyers and sellers be doing right now? How the housing market affects the rest of the economy How to approach the current housing market as a seller Final advice for buyers in the current housing market Are buyers pulling out of contracts at the last minute? How to vet real estate agents as a seller.