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Millions will enter housing market in 2021: Zillow

Housing Wire

And now, with the COVID-19 vaccine circulating and the economy slowly regaining strength, Zillow researchers say millions of additional households could enter the housing market in 2021. “The pandemic has catalyzed purchases by millennial first-time buyers, many of whom can now work from anywhere.” and Austin.

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DataDigest: How and where homebuilders are closing deals

Housing Wire

The Western pessimism is also unsurprising given the year-over-year declines Western states have seen in home values. Builders reported covering closing costs, offering discounted or free features, helping buyers sell their existing home and providing other incentives. 2019 level.

Inventory 452
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Home prices are dropping like it’s 2009

Housing Wire

Skyrocketing mortgage rates – now in the 7% range for some buyers – and limited inventory have driven mortgage affordability to its lowest levels since the early 1980s, a reversal from the frenetic boom in buying during 2020 and 2021. That monthly payment is up $930 from August 2021, a 73% increase. as of Sept.

Inventory 527
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What’s influencing the increase in REO acquisitions?

Housing Wire

The good news for homeowners is that home values in most areas remain stable, and inventory levels for homebuyers are still low. MC: The demand for REO assets remains strong, with inflows and overall REO inventory levels remaining significantly less than post-Q1 2020 inventories.

Inventory 405
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Even with falling rates, the housing market is shaping up to be bad in Q4

Housing Wire

Total housing inventory at the end of October was 1.22 Unsold inventory sits at a 3.3-month months in October 2021. Inventory levels are still tight, which is why some homes for sale are still receiving multiple offers,” Yun said. The median existing-home price for all housing types in October was $379,100, up 6.6%

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How the housing market will evolve in 2023

Housing Wire

After blowing past the 2% core inflation target in April 2021, it continuously rose for 18 months until peaking in September 2022. Inventory What does that mean for housing? We can also expect low housing demand, which favors buyers. The inventory changed last year as rates finally rose higher, eating into demand.

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The Rise in Interest Rates And How It Affects Buyers and Sellers

Boston Appraisal

The Rise in Interest Rates and How It Affects Buyers and Sellers When the COVID-19 pandemic began in early 2020, the Federal Reserve was quick to act by substantially reducing interest rates, which resulted in many new buyers entering the market to purchase a home at low rates. This affected buyers and sellers.

Sellers 78