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The housing market slowdown has only just begun: Fannie Mae

Housing Wire

Homebuilders may have been reluctant to do so until recently as supply chain bottlenecks and labor shortages have resulted in an elevated share of homes for sale still being under construction compared to the historical norm,” according to the report by the ESR Group. month supply, up from 1.6

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Despite lack of supply, existing home sales rise 6.7%

Housing Wire

Homebuyers flocked to what little inventory existed in January, with existing-home sales rising 6.7% 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% from the prior month to a seasonally adjusted annual rate of 6.5

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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. ” Ruben Gonzalez, Keller Williams chief economist, added that he is “optimistic” new home construction will pick up.

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Dearth of new construction strains migration hotspot of Alabama

Housing Wire

We are very bullish on Alabama and its long-term prospects,” Jeremy Walker, CEO of the Alabama Realtors Association , said. “We Inventory was the theme last year and it is shaping up to be the theme this year,” Ellison said. Inventory was the theme last year and it is shaping up to be the theme this year,” Ellison said. “We

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What to Expect from the Real Estate Market This Winter

Eppraisal

High demand and low inventory have lifted home prices nearly 20 percent over what they were in the autumn of 2020. Home Buyer Profiles The number of first-time home buyers is growing substantially , according to the National Association of Realtors. Again, good news for sellers; a headache for seekers.

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The historic multifamily construction boom is already fading

Housing Wire

The number of renters who can even afford to buy a home at the national median list price of $425,000 compared to a year ago is down 15%, according to the National Association of Realtors. . Construction lending has sort of slowed to a crawl,” Peter DiCorpo, the co-founder and COO of Black Farm Group , said.

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Housing market inventory is starting to recover

Housing Wire

. “An extremely tight supply of existing homes for sale combined with still-favorable mortgage rates and an improving labor market will continue to support demand for new housing. Suburban multifamily housing construction is also benefitting from this trend.” That’s depleting inventory across the country.

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