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Housing Market Tracker: Still no spring inventory lift

Housing Wire

Active inventory fell by 3,141, and new listing data fell again and is still trending at all-time lows. Even though the Gandalf line in the sand (3.37%-3.42%) held firm and the 10-year yield reversed higher, it didn’t reverse with much of a kick this time, closing Friday below 3.50%. Mortgage rates rose to 6.57%.

Inventory 491
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Housing Market Tracker: Inventory is negative YOY

Housing Wire

Housing inventory finally broke under 2022 levels last week. To give you an idea how different this year is from last year, last week in 2022, active listings grew 30,940 while this year they only grew 5,848. Since May 15, that trend has continued to the point that inventory in America is now negative year over year.

Inventory 458
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NAR Appraisal Survey 2022

Appraisal Today

NAR Appraisal Survey 2022. Excerpts from NAR Report (link below): In May 2022, NAR Research conducted a survey of all 9,700 appraiser members and 50,000 randomly-selected non-appraiser members. Since it was done in May, it focuses on appraiser shortages and delays, mostly from the non-appraiser respondents.

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Appraisals – Check the Water Source!

Appraisal Today

Unfortunately, the well was actually located on an adjacent lot that, at one time, was part of the subject lot prior to the lots being subdivided. Unfortunately, the well was actually located on an adjacent lot that, at one time, was part of the subject lot prior to the lots being subdivided. It was shared by four nearby homes.

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Appraisal Risk, Reviews, and Revisions

Appraisal Today

While that number may seem high to some, in the context of lending and property complexities, that is a 54% improvement in performance cited earlier in this article (from 35% 10 years ago). My comments: Links to Part 1 and 2 are in the first line of the post. Appraisers and AMCs spend less time and have fewer hassles.

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When Will This Market Change?

Lamacchia Realty

week supply of homes for sale. We will tell them how after the once-in-a-century pandemic , the average home sale price increased dramatically. So if someone bought a house in early January of 2021 and put 20% down, they would have nearly 40% equity in the home by the end of December. Available Inventory.

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Will Springer Realtor - Untitled Article

Will Springer Realtor

Almost since the start of the pandemic, homeowners have been spending more time enjoying their low-financed houses and condos. They have also been spending oodles of money to shape their residences to meet new living needs – modern and spacious, when possible – as households live in their homes for longer.