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

Housing Wire

Existing home sales fell in today’s report , which isn’t surprising, but one headline that shocked some people was that home prices are still up year over year, even with higher inventory and higher mortgage rates. From NAR : The median existing home price for all housing types in March was $393,500, an increase of 4.8%

Inventory 501
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Housing Market Tracker: Inventory is negative YOY

Housing Wire

Then in a short amount time, we had the biggest and fastest mortgage rate spike in history, which facilitated the biggest one-year crash in home sales in history, which helped inventory grow faster than normal in 2022. We had new listings growth from 2021 to 2022, but that’s not the case this year.

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December Newsletter- Merry Christmas!

DW Slater Company

Christmas is just a few days away and we will soon welcome the new year. This year has been a very busy year for real estate in North Texas with a record number of sales and rapid price appreciation. This month’s stats are from November. Here are the numbers: Median Sales Price. NOVEMBER 2021. . 7 | -41.7%.

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Push button. Get CEO? What’s next for Rocket

Housing Wire

That was new back then. Get Mortgage,” campaign, has forced Rocket Companies , the parent of Rocket Mortgage, to show the same adaptability in finding a new leader. And the new leader will have to do so as the company attempts to transition from a refi-reliant mortgage lender into a multi disciplined fintech. Learn quickly.

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Non-Arms Length Sales for Appraisers

Appraisal Today

The 7 Sale Types Explained Excerpts: An arm’s length sale – a sale in which the buyers and sellers act independently and in their own self-interest is the most common type of real estate transaction. For appraisals required to be Uniform Appraisal Dataset (UAD) compliant, you must indicate the type of sale for the transaction.

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Existing home sales are working from a historic low bar

Housing Wire

Today, we saw existing home sales slip a bit month to month, which isn’t surprising to me as purchase application data started its positive run in November. That data line typically looks out 30-90 days for sales — it doesn’t move as fast as some people think. From NAR : Existing-home sales waned 1.0%

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New home sales rebound, but builders are still wary

Housing Wire

Today the Census Bureau ‘ s new home sales report came in as a beat of estimates at 811,000. The headline beat surprised many people, but the report’s internals show negative revisions for the previous months. From Census: The seasonally adjusted estimate of new houses for sale at the end of December was 403,000.