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Pending-home sales drop 13% from a year ago as rates stay high: Redfin

Housing Wire

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. New listings are down 6.7% For the four weeks ending Sept. compared to a year ago.

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Pending home sales surged in December: NAR

Housing Wire

According to an NAR outlook, home sales are projected to rise significantly in 2024 and 2025 as the housing market steadily returns to normal. increase between 2024 and 2025 to a pace of 5.35 in 2025 to reach $405,200. in 2025 to reach $405,200. But new listings activity grew by 9.1% million and a 15.8%

Contracts 458
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A sub-7% mortgage rate brings holiday cheer

Housing Wire

“Given inflation continues to decelerate and the Federal Reserve Board’s current expectations that they will lower the federal funds target rate next year, we likely will see a gradual thawing of the housing market in the new year,” Sam Khater, Freddie Mac’s chief economist said in a statement. One LO said he quoted an FHA borrower at 5.7%.

Mortgage 485
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Compass CEO Reffkin believes agents will still be valued in a post-settlement world

Housing Wire

First, more buyers are using agents in 2023 than in 2003. Second, buyer agreements are not new. We found that more than 99% of new listings in March included offers to pay the buyer’s agent. Furthermore, more than 96% of all listings included offers of 2% or more, and more than 67% are offering to pay 2.5%

Agents 440
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“Greetings from Missouri!” Millions are finding commission lawsuit postcards in the mail. Agents say it’s an opportunity

Housing Wire

million and that funds will be only distributed to “qualifying settlement class members who submit an approved claim form,” which much be submitted by May 9, 2025. The emails and postcards also note that the settlement total is $208.5 Recipients are also given the option to “opt out” or object to the settlement. she asked. “It

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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. New listings Each week this spring we’ve been tracking the new listings volume. In total, new listings data is 14% more than last year.

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How this week’s Fed meeting could impact inventory

Housing Wire

Lower rates mean more buyer competition and less unsold inventory. New listings Last week, 59,000 new single-family listings came to market. New listings volume continues to run ahead of last year and we see more sellers than last year. This is a pivotal time for measuring buyer demand.

Inventory 441