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Insurance carrier exodus rattles California and Florida housing markets

Housing Wire

I do a lot with new construction and homeowners’ insurance is cheaper on new builds because they are brand new,” Williams said. With material and labor shortages, and supply chain issues it is taking a year-and-a-half to two years to complete a property.

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Home prices haven’t risen this fast since 2005

Housing Wire

Higher material costs , a lack of inventory and labor continue to drive demand, pushing up home prices. Robert Frick, corporate economist at Navy Federal Credit Union , noted that some builders are slowing production in hopes prices will come down as the supply chain recovers.

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2022 Housing Market Predictions: What To Expect

Quicken Loans

Anyone keeping an eye on the real estate market watched for predictions in 2021. Along with the pandemic, 2020 brought a chaotic whirlwind for the housing market. In addition, home values and sales skyrocketed. In combination with low housing inventory and labor shortages, that drove up selling prices.

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The nation’s housing market is on a correction course

Housing Wire

Rising interest rates and a slowing economy overall are already taking some of the air out of the rapid home-price appreciation the housing market has experience over the past year, according to the recently released Federal Reserve Beige Book for July. Freddie Mac projects that home-price growth will average 12.8%

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New home sales fell again in February

Housing Wire

“This transaction volume is taking place against a backdrop of continuous supply chain and labor disruptions.”. At the end of February, an estimated 407,000 new homes were still for sale, which at the current sales rate represents a 6.3 months supply. This is an increase of 3.3% after a 10.4% drop in January.

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What to Expect from the Real Estate Market This Winter

Eppraisal

Home Prices Yes, home values will continue to rise against other economic pressures, according to an estimation reported by Fannie Mae. Yet Fannie Mae sees no housing market damper on the horizon despite these higher rates. percent or so. This can impact monthly cash flow considerably.

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Market Still Strong as Low Inventory Persists- February Newsletter

DW Slater Company

So what’s happening in the housing markets here? The past six months have been full of very drastic changes as the rapid mortgage rate increases causing many markets to begin to decline. We are now entering the time of year when one day you need shorts and the next day you have to bring out your jacket.

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