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Shoppers are gearing up for the spring homebuying season: Zillow

Housing Wire

There are slightly more homes for sale than this time last year, and there is still plenty of competition for well-priced houses,” Zillow chief economist Skylar Olsen said in a statement. To lure more buyers, sellers are coming to terms with the market conditions and are agreeing to apply price cuts to their homes. year over year.

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Coastal California metros were the priciest  in March: Zillow

Housing Wire

Shoppers in the market today should expect competition, especially for attractive listings on the lower end of the price range — a rare opportunity these days,” Skylar Olsen, Zillow’s chief economist, said in a statement. Bidding wars are commonplace in these areas, exacerbated by a scarcity of options.

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Sellers may earn more by listing later in the year: Zillow

Housing Wire

“The old logic was that sellers could earn a premium by listing in late spring when their home would be on the top of the pile of listings when search activity was at its peak,” Zillow chief economist Skylar Olsen said in a statement. Zillow posits that this shift is driven by higher mortgage rates in the post-pandemic era.

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Federal Reserve approves interest rate hike of half a percentage point

Housing Wire

Skylar Olsen, the principal economist at Tomo , also said the move was “already anticipated by the market, but (it was) still the biggest increase in decades. . “The current picture is plain to see: The labor market is extremely tight and inflation is much too high. “Inflation is much too high.

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Best real estate apps for agents in 2024

Housing Wire

Vetted by HousingWire | Our editors independently review the products we recommend. When you buy through our links, we may earn a commission. In 2024, agents have two choices; learn how to run your entire business from the apps on your phone or tablet, or find a new career.

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Fed hikes rate by 75 bps, back to 2018 level

Housing Wire

Affordability is the biggest issue in the housing market today, and higher rates will make that worse on a monthly basis, even as the Fed does the important work of slowing down price growth,” said Skylar Olsen, Zillow ’s chief economist, in a statement. . “Recent indicators of spending and production have softened.