Remove 2025 Remove Buyers Remove Marketing Remove New Listings
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Pending-home sales drop 13% from a year ago as rates stay high: Redfin

Housing Wire

This is pushing many prospective homebuyers to the sidelines until the market becomes healthier. Adding to buyers’ affordability pain, median home prices rose 3.4% 17, total active listings were at 806,701, down 16.2% However, new listings have stabilized, ticking up slightly since the beginning of September.

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Pending home sales surged in December: NAR

Housing Wire

The housing market is off to a good start this year, as consumers benefit from falling mortgage rates and stable home prices,” NAR chief economist Lawrence Yun said in a statement. According to an NAR outlook, home sales are projected to rise significantly in 2024 and 2025 as the housing market steadily returns to normal.

Contracts 445
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A sub-7% mortgage rate brings holiday cheer

Housing Wire

Mortgage rates fell below the 7% threshold this week as markets prepared for Federal Reserve Chairman Jerome Powell’s announcement on Wednesday. 14, according to Freddie Mac ‘s Primary Mortgage Market Survey. Meanwhile, new listing activity also inched up slightly in recent weeks, another good sign for homebuyers who have more options.

Mortgage 476
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Where are home prices headed this spring?

Housing Wire

So while we can see currently the prices of home sales holding up, the signals for the end of 2024 and into 2025 seem to suggest we’re heading for flat home prices. The Fed met last week and we escaped dramatic changes in the markets. There are now 513,000 single family homes unsold on the market. Now it’s on the rise.

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How this week’s Fed meeting could impact inventory

Housing Wire

real estate market were for inventory growth, sales growth and home-price growth across the U.S. At the time, I observed that even if mortgage rates stayed flat, the momentum seemed to be in the cards for broad, slow growth in the market. Lower rates mean more buyer competition and less unsold inventory. The takeaway?

Inventory 384
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Compass CEO Reffkin believes agents will still be valued in a post-settlement world

Housing Wire

In down markets, the best agents and the best brokerages gain market share,” Reffkin, the CEO of Compass, told investors and analysts during his firms first-quarter 2024 earnings call on Wednesday evening. “We Year over year , Compass gained 26 basis points of market share, bringing its total share of home sales in Q1 2024 to 4.76%.

Agents 335
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A soft landing for the real estate market. What’s next?

Housing Wire

housing market could have a soft landing in 2023. The market was roaring — way too hot — with bidding wars, speculators and investors who thought they couldn’t lose. A soft landing is how you end that crazy cycle without the massive pain of a market crash or bubble burst. The froth is out of the market. is $450,000.