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Existing home sales data shows extent of housing inflation

Housing Wire

From NAR Research : “Total existing-home sales notched a minor contraction of 0.4% Existing home sales have more legs to go lower, especially now that new listing data is falling. However, seasonality will kick in soon, and it doesn’t look that 2022 will get us there. million in January of 2022. million in August.”

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Will Springer Realtor - Untitled Article

Will Springer Realtor

Data experts mapped out this cohort’s gradual decline – from about 32M in 2022 to 23M in 2035, or approximately 9.2M were flipped last year, down 29% from 2022 and the largest annual drop since 2008. That’s up from 36% of sales in 2022 but far from the peak this century of 45% in 2011, according to ATTOM. >>

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Will Springer Realtor - Untitled Article

Will Springer Realtor

They have also been spending oodles of money to shape their residences to meet new living needs – modern and spacious, when possible – as households live in their homes for longer. month backlogs of contract work, as of Q4 (latest data available), which is down from the peak of 4.8 annually in home improvements across the U.S.,

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ROOTING HARD FOR LOWER MORTGAGE RATES

Will Springer Realtor

1, that requires buyers wishing to work with a licensed real estate broker to sign a services contract. The pact clarifies certain terms, including whether they will have an exclusive contract with the broker or non-exclusive, and how brokers will be compensated for their services. (I List price: $6.499M ($1161/sq.

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100+ YEARS IN, ZONING LAWS INCH TOWARD HOUSING EQUITY

Will Springer Realtor

A report by RentCafe claims Seattle metro added 36,952 units to the rental market between 2020 and 2022. >> First a look at September’s numbers: A wave of last-chance listings for the year hit the market after Labor Day. That increased new listings by 7.5% (2884 units) and available homes on the market by 12% (3602) from Sept.

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CAN HOUSING SHORTAGE CATCH UP TO EASTSIDE DEMAND?

Will Springer Realtor

percentage points so far in 2022, has added several hundreds of dollars a month for new buyers’ mortgage payments.Black Knight, a mortgage technology and data provider, claims Americans are now expected to spend 31% of their monthly income to make a mortgage payment on the average-priced U.S. List price: $3.495M ($782/sq.

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FED’S ACTIONS TAKE STEAM OUT OF HOUSING MARKET

Will Springer Realtor

The inter-bank rate stands at about 3.1%, coincidentally the exact figure that Freddie Mac reported at the start of 2022 as the average mortgage rate in the U.S. We are now seeing “7s” in front of some rates to new mortgage consumers – a figure not seen since April 2002 – causing applications for new loans to hit a 25-year low this month. (