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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. The pandemic continues to impact how people live and work.”

Realtors 479
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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. Redfin : Realtor.com : Altos Research : Clearly, we are seeing a slowdown in new listings as the data has been negative now for months. What does this mean?

Inventory 522
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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 473
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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 Home sellers are seeing their homes go under contract in record time, with nine new contracts for every 10 new listings.”.

Contracts 485
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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 Existing home sales have more legs to go lower, especially now that new listing data is falling. I am a big fan of inventory to 2019 levels. From NAR Research : “Total existing-home sales notched a minor contraction of 0.4%

Inventory 458
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Redfin: Bidding wars drop slightly in June

Housing Wire

An improving supply situation may also be making a difference, with new listings up 4% year over year — meaning more properties are hitting the market for buyers to bid on. In 2018-2019, total housing inventory was in the range between 1.52 million homes, according to the National Association of Realtors. million and 1.92

Inventory 500
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Why is the El Paso housing market so hot right now?

Housing Wire

“Property managers are renting places that would usually be $800 a month for $1,200, so people figured if they’re paying that much, they might as well own their home,” said Tom Torres, an El Paso-based real estate agent and former president of the El Paso Association of Realtors. Thank goodness Realtors were deemed essential.”.