Remove 2022 Remove Development Remove Inventory Remove Open Houses
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Download these 9 real estate prospecting letter templates that actually work

Housing Wire

Many of us are in sellers’ markets with very low inventory. Inventory is extremely low, and the competition is fierce. House-hacking is a great way to build wealth and pay down your mortgage. Buyer’s agents who can find their clients a home that’s not even on the market are instant heroes.

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Price Adjustments and the 2023 Market

Lamacchia Realty

PRICE ADJUSTMENTS AND THE 2023 MARKET In March 2022, it was clear that the market was changing from a frenzied post-pandemic scene to one where it was assumed that rising mortgage rates would slow it down and help inventory finally rise back up. Inventory didn’t increase at the rate most assumed it would.

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Price Adjustments in this New Housing Market

Lamacchia Realty

In early March it was becoming clear that the market was changing from a frenzied post-pandemic scene to one where rising mortgage rates would slow it down and help inventory finally rise back up. For the past few years, with inventory at historically low levels , sellers were coming pretty close to naming their price and buyers were paying.

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Price Adjustments in Florida Rise Rapidly

Lamacchia Realty

As you can see in the chart below, Florida has the highest shift in rising inventory over the past twelve months. Source Condo inventory has been rising more than single families as sales have been decreasing since 2023. Source Inventory rises when more sellers are listing than buyers are buying.

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How to Take Advantage of the Cooler Summer Market

Lamacchia Realty

For the first time in years inventory is at the same level as the year prior as depicted in the chart above, and single families are higher as depicted in the chart below. With fewer buyers comes fewer home sales over time, so then inventory will build back up which will provide another thing you’ve been missing: selection.

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Will Springer Realtor - Untitled Article

Will Springer Realtor

Sellers who priced their homes appropriately enjoyed busy open houses in their first weekend on the market followed by multiple offers. The number of homeowners deciding to sell continues to lag, but inventory and time on market continue to [mostly] climb, reflecting still-hesitant buyers.” It’s a 6-bedroom, 4.5-bath

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HINTS OF SHARP INCREASE IN NEW CONSTRUCTION

Will Springer Realtor

It is developing several single-family and multifamily communities in King and Snohomish counties. and another 10% boost in 2022. Others – Meritage Homes (+20% YoY in 2021) and Tri Point Homes (+15-30% YoY in 2022) – expect tremendous growth of new communities. See the August housing report further below, if you dare!).