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Inventory needs to increase to balance housing market: Fed Beige Book

Housing Wire

High inflation has reduced consumers’ purchasing power, which has led to weakened sales and construction across all 12 Federal Reserve districts. While home prices have started to inch down, more inventory is needed for a balanced housing market, the Federal Reserve Beige Book said. However, housing affordability worsened.

Inventory 421
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Can we still avoid a recession?

Housing Wire

housing market went into recession in June of this year, which I talked about a few months ago on CNBC. New and existing home sales are falling, along with housing permits and starts, as we have too many new homes for the builders to issue new permits. did not go into a recession at the start of 2022.

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Will Springer Realtor - Untitled Article

Will Springer Realtor

America’s shortfall is most acute with the most vulnerable, as affordable housing inventory has been shrinking for decades. Builders are trying to catch up and, according to federal officials , there are more housing units under construction today than at any time in the last 50 years. shy of the need. But for how long?

HOA 36
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Will Springer Realtor - Untitled Article

Will Springer Realtor

years, according to recent data, when it was only about five years just before the housing market crash of 2007. Washingtonians won this session,” said Dan Bertolet, Director of the Housing and Urbanism program for Sightline Institute, a Pacific Northwest regional think tank. They include Nexus , The Emerald , KODA and Spire.

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SEATTLE ‘WALKING’ TOWARDS URBAN CONNECTEDNESS

Will Springer Realtor

A concrete and steel cover connecting First Hill to downtown, for example, would reduce traffic noise, potentially add more parkland and encourage construction of new housing. topped the list. The market is spooking many potential buyers and sellers thanks to stubbornly high mortgage interest rates.

Sellers 36
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IS THE REAL ESTATE WINDOW CLOSING SHUT?

Will Springer Realtor

Here’s how topsy-turvy our housing market has been this past year-plus. Now you may think I am referring only to homeowners, as in did they miss the peak of the market to sell their home at top dollar. The market may go into a brief lull – as it does during this quarter and into early next year. Estimated opening is 2026.

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A CALL FOR MORE ACCESSORY DWELLINGS AMID HOUSING CRUNCH

Will Springer Realtor

ADUs also help local economies by providing housing to people on the lower-to-middle economic scale to live within typically pricy urban areas that are closer to job centers and greater public transportation options. cities to determine the fastest-rising housing markets and two in our area ranked in the Top 25.