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Fannie Mae on Q4: Existing home sales will be lowest since 2010

Housing Wire

million on an annualized basis – the lowest since Q3 2010. Compared to October 2022, existing home sales slumped 14.6%, down from 4.44 Fannie Mae expects Q4 seasonally adjusted existing home sales to be 3.9 Total home sales are projected to come in at around 4.8 million in 2023, 4.7 million in 2024 and 5.3 million in 2025. in 2024 and 6.9%

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Share of first-time homebuyers hits highest level since 2010: Zillow

Inman

That's the highest share since 2010. Unburdened by rate lock, the share of first-time homebuyers rose to 50 percent this year, according to a new report from Zillow.

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NAR Reports $2.1 Trillion Increase in Housing Wealth for Middle-income Households Since 2010

Appraisal Buzz

National Association of Realtors ’ (NAR) new “Housing Wealth Gains for the Rising Middle-Class Markets” study examines the distribution of housing wealth between 2010 and 2020 across income groups and in 917 metropolitan or micropolitan areas. NAR found that during those 10 years, nearly 980,000 middle-income households became homeowners.

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Why home prices won’t crash in the next recession

Housing Wire

The answer is no, and for that, we must thank the 2010 qualified mortgage (QM) rule, which has high standards for borrower credit scores and the ability to repay the loan. As we can see in the chart below, 2005-2008 was awful, but from 2010-2023, the credit data looks awesome compared to the housing bubble crash years.

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Mortgage rates continue falling before Thanksgiving: Freddie Mac

Housing Wire

New construction starts and permits showed surprising strength in October while existing-home sales slumped to their worst reading since 2010. “This dynamic is reflected in the latest data showing that existing home sales have fallen to a thirteen-year low.”

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Tracy Kasper officially installed as NAR’s new president

Housing Wire

Sears, a broker/partner of Sears Real Estate in Springfield, Massachusetts , was NAR’s vice president of government affairs in 2017 and president of the Massachusetts Association of Realtors in 2010. Lastly, Kevin Brown is NAR’s 2024 first vice president.

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Pending home sales up slightly in September: NAR

Housing Wire

Meanwhile, existing home sales in September fell to their lowest level since 2010, Realtor.com Senior Economic Research Analyst Hannah Jones said in an emailed statement. They dropped below 4 million for the first time since October 2010, she added.

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