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How the housing market will evolve in 2023

Housing Wire

This article is part of our 2022 – 2023 Housing Market Update series. After the series wraps, join us on February 6 for the HW+ Virtual 2023 Housing Market Update. Mortgage interest rates The unrelenting Fed policies to combat inflation will eventually instigate an economic recession sometime in 2023. most likely by mid-year.

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Don’t expect a drastic housing market turnaround in 2023, Fitch Ratings says

Housing Wire

Builders feel more confident in the market, housing inventory data is positive and buyer demand for mortgages has increased — but don’t be fooled. In addition, the credit rating agency expects mortgage rates to move even higher in 2023 and home prices to decline by up to 5%. “We

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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 427
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What’s influencing the increase in REO acquisitions?

Housing Wire

HousingWire: According to ATTOM Data Solutions‘ latest foreclosure market report, bank repossessions climbed 9% in the first half of 2023 compared to the first half of 2022. The good news for homeowners is that home values in most areas remain stable, and inventory levels for homebuyers are still low.

Inventory 389
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Borrowers opt for permanent rate buydowns amid affordability challenges

Housing Wire

Prior to the pandemic, buyers paid closer to 0.5 On the surface, it may seem the market has been stirred by a full point decline in interest rates and home prices coming off their peaks – but it’s not that simple,” Graboske said. points on average, with a corresponding cost of about $1,500, in 2018 through 2020. “On

Inventory 382
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October 2023 Massachusetts Housing Report

Lamacchia Realty

october 2023 massachusetts housing report MASSACHUSETTS Home Sales Down, Average Prices Up Home sales are down 14.3% year over year, with October 2023 at 5,613 compared to 6,553 last October. 2023: 6,586 2022: 6,585 2021: 8,136 Pending Home Sales: The number of homes placed under contract is down by 6.3%

Sellers 65
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November 2023 Connecticut Housing Report

Lamacchia Realty

NOVEMBER 2023 connecticut housing report CONNECTICUT Home Sales Down, Average Prices Up Home sales are down 12.9% year over year, with November 2023 at 2,732 compared to 3,138 last November. Single families: 2,402 (2022) | 2,109 (2023) Condominiums: 736 (2022) | 623 (2023) Average sales price has increased by 8.2%