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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 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. More sellers means more sales will happen. New listings Each week this spring we’ve been tracking the new listings volume. A year with 5.5

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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 384
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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 335
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A soft landing for the real estate market. What’s next?

Housing Wire

But since January, home buyers have defied all expectations. Sellers have not materialized, and buyers have been buying everything that becomes available. The peak of inventory for 2023 so far was the week of the New Year — that is insane. We could see inventory from distressed sellers emerge in 2025.

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

Housing Wire

The mailers are titled “Notice of Proposed Settlements” and they began hitting the mailboxes of home sellers in mid-February. 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. What do the postcards say? she asked. “It

Agents 377
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Eastside Residential Market Sees Big Gains in Sales, Prices

Will Springer Realtor

That was highlighted by a 30% month-to-month gain in total home sales (single-family, townhome and condos combined) across the county in March and unseasonably low supply for buyers. However, we are missing the typical boost of sellers. above the list price. in Snohomish, 4.6% in Pierce and 3.5%