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Why is the El Paso housing market so hot right now?

Housing Wire

According to multiple real estate agents and mortgage brokers, low interest rates and a high percentage of “essential” jobs in their town has kept the housing market and local economy strong. That’s even with home prices jumping to an average of $226,000 in September – an 18% jump from September 2019.

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Is housing inventory growth really slowing down?

Housing Wire

One of the most important housing market stories in recent weeks has been the decline in new listings , which has slowed the growth rate of total inventory. Once that happens, I can finally take the savagely unhealthy housing market theme off my talking points. What does this mean? million to 1.93

Inventory 519
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NAR: Almost 50% of homes sold for more than list price

Housing Wire

The National Association of Realtors Confidence Index Survey for April reveals how hot the housing market is. Per the report, homes that sold had five offers on average , and nearly 50% of homes sold for more than their list price during the four weeks ending May 16. 25% of all sales were cash sales, per the report.

Realtors 471
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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. This is happening, and in the long run, this is a plus for the housing market.

Inventory 464
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Redfin: Bidding wars drop slightly in June

Housing Wire

bidding-war rate Redfin saw in June 2020, when the housing market was starting to rebound from a temporary standstill triggered by pandemic shutdowns, said Laura Sechrist Molenda, a Redfin real estate agent based in Southern California. In 2018-2019, total housing inventory was in the range between 1.52 million and 1.92

Inventory 493
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Existing home sales data shows extent of housing inflation

Housing Wire

Today the National Association of Realtors reported that existing home sales fell once again to 4.80 The savagely unhealthy housing market theme of mine is running in full force now as we have gotten no relief on home prices and now have a mega jump in mortgage rates. . I am a big fan of inventory to 2019 levels.

Inventory 450
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Insatiable demand drives July pending home sales up 15% annually

Housing Wire

year over year, largely on the back of pent-up demand from buyers who were unable to strike deals during the spring, said Lawrence Yun, chief economist of the National Association of Realtors. “We We are witnessing a true V-shaped sales recovery as homebuyers continue their strong return to the housing market,” said Yun.

Contracts 477