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Affordability boosts Indianapolis housing market 

Housing Wire

It also boasts a strong labor market, adding 28,500 jobs in November 2023 compared to November 2022, according to data released by the Bureau of Labor Statistics (BLS). 10, 2023. “The There is always a big slowdown between Thanksgiving and New Year. 19, down from 54.79% on Nov. Things will pick up in the next week or two.”

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Can we still avoid a recession?

Housing Wire

The question now is whether there is a way to avoid the job-loss recession we’re facing in 2023. New and existing home sales are falling, along with housing permits and starts, as we have too many new homes for the builders to issue new permits. However, getting mortgage rates lower with duration will help housing.

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Inventory needs to increase to balance housing market: Fed Beige Book

Housing Wire

The report noted that “most bankers reported that residential mortgage demand remained weak.” The information and data for the current Beige Book was collected on or before January 9, 2023 and was based on interviews with bank and branch directors, community organizations and economists.

Inventory 419
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Will Springer Realtor - Untitled Article

Will Springer Realtor

In March 2023, we had an undersupply of 1.7M home sales in 2023, the highest level since 2014. MAY HOUSING UPDATE Even after a few weeks of mortgage rate jumps, the Seattle/King County housing market is displaying surprising strength. With the settlement, a wave of new listings hit the market in the past several weeks.

HOA 36
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SEATTLE ‘WALKING’ TOWARDS URBAN CONNECTEDNESS

Will Springer Realtor

New owners here spend an average of $232.5K on first-year costs, including a 20% down payment, closing costs, monthly mortgage, insurance and property taxes. The market is spooking many potential buyers and sellers thanks to stubbornly high mortgage interest rates. fewer new listings, the number of sales rose 1.7%

Sellers 36
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IS THE REAL ESTATE WINDOW CLOSING SHUT?

Will Springer Realtor

The Federal Reserve, which has been buying mortgage-related securities for more than a year to artificially keep interest rates low, has signaled a desire to taper its bulk purchases within the next month or so. A 30-year mortgage in our area could be had for about 3.125%, up from about 2.875% a month ago. New listings are up 6.3%

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PREDICTIONS, PARKING, POLLUTED PIPES

Will Springer Realtor

It was a year of gyrating mortgage rates and stubbornly high home prices. Mortgage rates rose and rose again to more than 8% but have since mercifully fallen by nearly a percentage point. Just for Fun: In December 2022, the National Association of Realtors® projected mortgage interest rates would be 5.7% 19) at 10am PT.