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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 449
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Pending-home sales drop 13% from a year ago as rates stay high: Redfin

Housing Wire

17, according to a new report from Redfin. This is pushing many prospective homebuyers to the sidelines until the market becomes healthier. 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%

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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 477
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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 361
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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.

Agents 401
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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. New listings Last week, 59,000 new single-family listings came to market.

Inventory 408