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Buyers are getting cold feet as mortgage rates exceed 7%: Redfin

Housing Wire

of homes that went under contract that month, according to a new report from Redfin. A lot of sellers are also willing to let buyers slip away because they don’t want to concede to repair requests,” Morre said. New Listings Tick Up Slightly, But Overall Housing Supply Remains at Record Low New listings rose 0.8%

Buyers 416
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Housing inventory falls under 1M again as sales collapse

Housing Wire

The lack of sellers is also a demand problem and what we saw after June of 2022 is that sellers called it quits earlier and faster in the year than usual, resulting in total existing home sales totaling 5,030,000 to end 2022. During that period, we saw new listing data decline. from November but up 10.2% months in Nov.

Inventory 541
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There’s no sign of the typical fall slowdown in home buying

Housing Wire

One-third of homes that went under contract had an accepted offer within one week of hitting the market, a new report from Redfin found. In addition, the number of homes that went under contract within two weeks of listing rose to 46% from 42% during the same period in 2020. points from a month earlier.

Contracts 400
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Existing home sales data shows extent of housing inflation

Housing Wire

With the home-price growth we had in 2020 and 2021, my five-year price-growth model that I set for 2020-2024 of 23% was already smashed in just two years. That was a huge red flag, hence all the statements in 2021 about unhealthy housing. . From NAR Research : “Total existing-home sales notched a minor contraction of 0.4%

Inventory 457
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Altos: Sellers are coming back to the housing market, can buyers keep up?

Housing Wire

New listings each week, which were record few last year, are growing now. There are still notably not a lot of sellers. But home sellers are gradually easing back into this housing market. There were 66,000 new listings this week, of which 14,000 are already in contract. It’s not a ton of sellers.

Sellers 396
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Facing Real Estate Challenges with GoFormz

GoForrmz

In 2021 , we saw houses receive multiple offers and sell for thousands of dollars over asking price within hours. From virtual tours to real estate apps, it now takes less time and effort to communicate between sellers and buyers. Technology has now taken over and revamped the way we interact with property. That’s where we come in.

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No seasonal slowdown this year as real estate agents report a busier-than-usual fall

Housing Wire

“But if the pandemic surges up again, I think we’re just going to get busier and busier here, because we are definitely located in the correct position, outside of New York City, where parents can still commute to work and children can have space needed for homeschooling and things like that,” Kanacki said.