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Existing Home Sales Strongest Since 2006 Despite Supply Limits

Eyes on Housing

Fueled by low mortgage interest rates and strong demand, annual existing home sales reached 15-year high in 2021, according to the National Association of Realtors (NAR). Total existing home. Read More ›

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Pending home sales reach highest May mark in 16 years

Housing Wire

Pending home sales reached its highest mark for the month of May since 2005, up 8% from the previous month of April as low inventory continues driving buyers to snatch up available real estate. “Buyers are still lining up a feverish pace,” Yun said. “Buyers are still lining up a feverish pace,” Yun said.

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Despite lack of supply, existing home sales rise 6.7%

Housing Wire

annually to $350,000, according to the Friday report from the National Association of Realtors. The supply of homes for sale fell to a record low, down 16.5% months of supply; a healthy market generally has between four and six months of supply. The post Despite lack of supply, existing home sales rise 6.7%

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Here are 4 macro trends impacting the 2022 housing market

Housing Wire

A potential strategy for 2022 will likely depend on whether the market transitions to a purchase-heavy mortgage market, understanding why people buy homes and implementing an effective system to work with potential buyers. To achieve this difficult task, it will be important to understand what motivates buyers and how to help homebuyers.

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What to Know About Home Renovations in 2023

Lamacchia Realty

Factors such as supply chain disruptions, project delays, and increasing costs have greatly impacted both new construction and ongoing renovation projects. It’s so important to stay informed of the impact of inflation, availability of materials, and supply chain issues. Building materials costs index - U.S.

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What to Expect from the Real Estate Market This Winter

Eppraisal

This fact will give hope to buyers for the long term but what about the more immediate future? Although home buyers will scowl at this forecast, they can at least be thankful that property value is climbing at a slower velocity than in the prior year. Moreover, the age of repeat buyers is also ascending to 56 years of age.

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What has Been the Impact of COVID-19 on the Real Estate Market?

Boston Appraisal

COVID-19 Impact on Buyers and Sellers These low loan rates are pushing buyers to risk virus exposure in search of better housing. Without additional new homes coming into the market, home prices will rise too fast and quickly exceed affordability for first-time home buyers – even with the record-low mortgage rates.