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Price Adjustments and the 2023 Market

Lamacchia Realty

PRICE ADJUSTMENTS AND THE 2023 MARKET In March 2022, it was clear that the market was changing from a frenzied post-pandemic scene to one where it was assumed that rising mortgage rates would slow it down and help inventory finally rise back up. Inventory didn’t increase at the rate most assumed it would.

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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. For the past few years, with inventory at historically low levels , sellers were coming pretty close to naming their price and buyers were paying.

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Median income earners can only afford 25% of current listings

Housing Wire

It is no secret that housing inventory is low. households earn $75,000 or less, meaning that in a balanced market, 51% of the homes for sale would be affordable to buyers in this income bracket. As income levels increase, however, the disparity decreases between current inventory and the inventory needed for a balanced market.

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Houston Housing Market Forecast: Current Data & 2021 Predictions

Houston Properties

For certain parts of the economy, usually in the upper-income brackets, they didn’t carry a lot of debt and they couldn’t go out to spend their money. We expect a nationwide drop in home values as home inventory continues to shrink and we start to feel the economic impact of last year’s mishaps. So, what did they do?