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Midwest housing markets good for first-time homebuyers: Zillow

Housing Wire

The number of first-time homebuyers made up 32% of all buyers in 2023, according to a report released by the National Association of Realtors. Millennials comprised 75% of this demographic, with older millennials and Generation X (ages 44 to 58) accounting for 44% and 24% of first-time buyers.

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Existing-home sales have nowhere to go but up in 2024? 

Housing Wire

million, according to the N ational Association of Realtors. Prospective home buyers experienced another difficult month due to the persistent lack of housing inventory and the highest mortgage rates in a generation,” NAR Chief Economist Lawrence Yun said in a statement. Existing-home sales dropped 4.1% Looking at the four major U.S.

Inventory 410
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Why are existing home prices rising when sales are still so low?

Housing Wire

In an interview today with Yahoo Finance , I discussed how home prices are still rising this year. From NAR : The median existing home price for all housing types in March was $393,500, an increase of 4.8% from the previous year ($375,300). All four U.S. regions registered price gains. million, and in 2007, it peaked at 4 million.

Inventory 491
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“Greetings from Missouri!” Millions are finding commission lawsuit postcards in the mail. Agents say it’s an opportunity

Housing Wire

We’ve signed 47 new listings year to date, and we’ve had plenty of conversations with other sellers that we didn’t sign, but there are a lot more conversations surrounding transparency,” Posnick said. It is further exasperating the negative stereotype some people have of Realtors. she asked. “It

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Don’t get too excited about the jump in existing home sales

Housing Wire

Our data lines here at Housing — which track things weekly — show inventory is growing year over year with new listings growth as well. This is the timeframe where seasonality kicks in for both to go lower and it will be interesting to see where inventory goes this year with the NAR data. From NAR : Total existing-home elevated 3.1%

Inventory 473
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Buyers are struggling to compete in the white-hot Cincinnati market

Housing Wire

“I called the listing agent and it was listed three hours ago, but it was sold,” the Cincinnati, Ohio -based eXp Realty agent said. “We There is no way you can stay on top of things unless you hire someone to watch new listings pop up every 10 minutes. Buyers are really struggling.” We couldn’t even see it.

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“It seems impossible:” Bergen County, NJ’s housing market is vexing agents and buyers

Housing Wire

Real estate agents in the leafy suburbs of Bergen County, New Jersey say the current housing market — with historically low inventory and record-high prices — is actually more challenging than the multiple offer chaos they sweated through during the pandemic. “At But now buyers are sick of waiting around and are deciding it is time to buy.”