Remove 2020 Remove Development Remove Inventory Remove Realtors
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Rising home prices take a toll on pending home sales

Housing Wire

in October – the second consecutive month the index has fallen as affordability strains the market, a recent report from the National Association of Realtors said. Realtors cited a combination of high demand and low inventory, which are making conditions more competitive and exerting upward pressure on prices.

Realtors 534
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Existing home sales dip downwards for fourth month

Housing Wire

million, the National Association of Realtors reported on Tuesday. from May 2020 ($283,500). “Lack of inventory continues to be the overwhelming factor holding back home sales, but falling affordability is simply squeezing some first-time buyers out of the market,” said Lawrence Yun, NAR’s chief economist.

Inventory 414
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Appraising Well in a Fast-Changing Market

Appraisal Buzz

I started thinking about this when I saw the news coming from the National Association of Realtors about how far the current real estate market is out of balance. Why inventory levels matter to appraisers. Inventory levels have an impact on property valuation, at least in the short term. USPAP Rule 1-3 (d) (v) makes this clear.

Appraisal 370
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Low home prices in Harrisburg, PA drawing in buyers

Housing Wire

Low home prices, large lots, and an up-and-coming downtown area, said Toni Reinhart, a realtor for Iron Valley Real Estate in Harrisburg. There are about 30 new developments in the city right now, the [Susquehannah River] runs right through the middle of downtown — it’s becoming a cool place to live. .

Buyers 225
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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.”.

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Some lenders won’t survive the purchase mortgage market of 2022

Housing Wire

A seasoned retail and commercial banking salesman in Fort Wayne, Indiana, the 39-year-old Woodward joined Interfirst Mortgage as a loan officer in October 2020 after a recommendation from an old college friend. I hadn’t developed a network for mortgage lending with Realtors,” Woodward said about his work at Interfirst in Indiana.

Mortgage 522
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Housing Statistics for Beginners, Part 2

Birmingham Appraisal

In this post we’ll discuss average and median sold price, average days on the market (DOM), and months of inventory. The Alabama Center for Real Estate provides helpful charts and statistics from data it gets from The Alabama Association of Realtors. In my last post, I discussed statistics related to supply and demand.