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The mortgage rate lock-in didn’t start in 2022

Housing Wire

After an initial rush to get to market in Q2 2022, new listings volume fell precipitously. In July 2022, new listings volume per week dropped from 90,000 at the end of June to approximately 74,000 just after the July 4th holiday. That’s a swing of 17% fewer sellers in just a matter of days.

Mortgage 411
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Compass CEO Reffkin believes agents will still be valued in a post-settlement world

Housing Wire

million net loss reported in Q1 2023. Compass executives, however, were not deterred by this news as the firm yet again finished the quarter free cash-flow positive at $5.9 million, compared to Q1 2023’s free cash-flow loss of $59 million. First, more buyers are using agents in 2023 than in 2003.

Agents 431
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Existing-home sales have nowhere to go but up in 2024? 

Housing Wire

million, according to the N ational Association of Realtors. While circumstances for buyers remain tight, home sellers have done well as prices continue to rise year-over-year, including a new all-time high for the month of October,” Yun said. “In Existing-home sales dropped 4.1% Looking at the four major U.S. All four U.S.

Inventory 404
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‘Fraudsters gotta eat too:’ The title industry navigates an uptick in fraud

Housing Wire

Berg and ALTA One attendees also highlight the recent uptick in seller impersonation fraud , which occurs when a fraudster poses as the owner of a vacant lot or vacation home who is looking to sell the property. Our realtor partners are hurting,” Berg said. That is about $2 million in lost funds.”

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Why are existing home prices rising when sales are still so low?

Housing Wire

This scenario is similar to 2023 when rates fell. The one thing that is positive this year which is different than last year is new listing data is rising year over year, nothing spectacular, but it’s a positive story for housing This means we have more sellers that will be buyers in 2024. million units, up 4.7%

Inventory 483
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Existing home sales ended the year with a whimper in 2022

Housing Wire

million, according to a report from the National Association of Realtors (NAR) released Friday. In a typical spring market, sellers lead buyers, with new listings coming on the market in the early part of the year before buyers start thinking about shopping,” Sturtevant said. from November to a pace of 4.02

Inventory 382
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Existing home sales data shows extent of housing inflation

Housing Wire

Today the National Association of Realtors reported that existing home sales fell once again to 4.80 Existing home sales have more legs to go lower, especially now that new listing data is falling. We don’t want to see that in America, but that might be a reality in 2023. million in August.” million in August 2021).”.

Inventory 450