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Housing Market Tracker: Mortgage rates and inventory fall together

Housing Wire

Active inventory fell 1,109, and new listing data made a lovely comeback week to week but was still noticeably down year over year. One piece of good news last week was that the new listing data, which saw a significant collapse two weeks ago, rebounded excellently to return to a usual trend.

Inventory 450
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Will existing home sales climb at all this year?

Housing Wire

Pending Sales There are now 378,000 single-family homes in contract. There were 68,000 new contracts for single-family homes this week. In the chart below, the light portion of each bar represents the new contracts each week. But, there were another 15,000 condos and townhomes that went into contract this week.

Inventory 370
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Shrinking Number of New Listings Slows Seattle/King County Housing Activity

Will Springer Realtor

The chart (below) puts it in sharp focus: Except for the pandemic year of 2020 when there were 2559 new listings that April, last month was the slowest April since at least 2008 when easy access to Northwest Multiple Listing Service data became available. Where are all the sellers? You can’t buy what’s not for sale!

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September 2021 Housing Report

Lamacchia Realty

The number of new listings has decreased but so has the number of pending sales, which means that inventory is lingering longer than it has been which is a positive sign for buyers. Therefore, buyers need to capitalize on the higher inventory while the iron is hot, as it’s going to be the best time to buy in two years.

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RISING INFLATION, RATES TRIP UP HOUSING MARKET

Will Springer Realtor

The King County housing market has seen inventory increase by 55% in the past month, while the number of homes going under contract fell 22% from May to the lowest June level since 2011. Even stock investments, the source of many down payments for buyers, have taken a heavy blow. FOR FIRST-TIME BUYERS, NOW WHAT? Washington, D.C.,

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HINTS OF SHARP INCREASE IN NEW CONSTRUCTION

Will Springer Realtor

The Institute outlined four ways innovative builders could accommodate the emerging buyer wants: Immersion into nature. Here’s a negotiating tactic that you may not have thought of: Sellers who “spy” on buyers when they are visiting the home. Those surveyed said they wanted to listen in on what buyers do and don’t like about the homes.

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FINDING THE KEY TO UNLOCK ‘STUCK’ HOMEOWNERSHIP RATE

Will Springer Realtor

As home prices surge and people delay – or forgo – nuptials, buyers are pooling their finances with unmarried partners, roommates or friends to purchase a place. >> Since 1980, cash buyers paid about 11% less on a home than those using a mortgage, according to a study from researchers at the University of California-San Diego.

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