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Mortgage demand picks up as seller concessions rise

Housing Wire

And to close deals, sellers are increasingly coming to the table with concessions and rate buydowns. . The Bureau of Labor Statistics reported on Friday that job and wage growth is slowing, although the labor market finished 2022 stronger than expected. “So, in essence, the seller helped pay for their refinance in 12 -24 months.

Sellers 527
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Home seller concessions reach pre-pandemic levels

Housing Wire

of home sellers gave concessions to homebuyers in Q4 of 2022, through money for repairs and mortgage-rate buydowns. In Q3 of 2022 and Q4 of 2021, sellers gave concessions in 30% of home sales. Sellers realize they’re not going to get $80,000 over the asking price like their neighbor did last year,” he added.

Sellers 458
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Buyers take power from sellers. It’s their turn.

Sacramento Appraisal Blog

And sellers are losing it. UPCOMING (PUBLIC) SPEAKING GIGS: 7/20/2022 Beer & Stats at Out of Bounds (sign up (for real estate agents)) 7/26/2022 Navigating […]. Buyers are gaining power. I have some new visuals to show what the market is doing right now. These are for Sacramento, but I suspect many areas look similar.

Sellers 468
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The title industry’s latest cat-and-mouse game: seller impersonation fraud

Housing Wire

Secret Service , notified the title industry of a rise in what is known as vacant lot fraud, or seller impersonation fraud. “We We started to hear a lot about seller impersonation fraud early on in the year,” Tyler Adams, the CEO of CertifID, said. “We Oftentimes this leads to the discovery of vacant lots. billion, up from $6.9

Sellers 378
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As rising mortgage rates push buyers to the brink, sellers are starting to cut prices

Housing Wire

Even with demand buoyed by a sparse housing inventory, growing financial challenges for buyers are forcing home sellers to cut prices to close deals, a new Redfin research report found. home sale price rose 3% year over year, reaching $420,846 in August, the largest annual increase since October 2022. According to the brokerage, 6.5%

Sellers 507
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Opinion: The end of seller speculation in US housing market

Housing Wire

metropolitan areas in February 2022, based on year-over-year growth in median listing price according to the residential real estate listing website, Realtor.com. Table 1: 10 Hottest Housing Markets out of the Top 250 Metro Areas, February 2022. Table 2: 10 Hottest Housing Markets out of the Top 250 Metro Areas, June 2022.

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New Home Construction Expectations for 2022

Appraisal Buzz

What is on the horizon in 2022? Things may be taking a turn for the better in 2022, though. Many buyers hope the housing market will cool down in 2022, and while experts don’t think it will be as competitive, this is unlikely to be a dramatic shift — at least not one that turns the market away from being seller-friendly.