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The 2023 housing market is at odds with itself

Housing Wire

All major housing market metrics point to a restrained housing market. The number of new listings coming on the market this spring is lower than it has been in more than a decade. Sales and new pending contracts are below pre-pandemic levels. What can we expect in 2023?

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Housing Market Tracker: Mortgage rates and inventory fall together

Housing Wire

The financial and housing markets are still trying to sort out the banking crisis and whether we have seen the last Fed rate hike in this cycle. These events led to lower mortgage rates and increased purchase application data last week, but decreased housing inventory. In a regular market, they would be closer to 5.25%.

Inventory 450
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The spring housing market is waking up & random stats

Sacramento Appraisal Blog

UPCOMING (PUBLIC) SPEAKING GIGS: 01/31/24 Joel Wright & Mike Gobbi Event 9am (on Zoom here) 02/01/24 Gateway Event (private) 2/09/24 PCAR WCR Event […] The post The spring housing market is waking up & random stats first appeared on Sacramento Appraisal Blog.

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Pending home sales surged in December: NAR

Housing Wire

For comparison, the index is benchmarked at a reading of 100 based on 2001 contract activity. The housing market is off to a good start this year, as consumers benefit from falling mortgage rates and stable home prices,” NAR chief economist Lawrence Yun said in a statement. “Job But new listings activity grew by 9.1%

Contracts 458
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Relief in Sight for a Housing Market Short on Supply

Appraisal Buzz

A new study has found the gap between net new listings and the number of listings under contract is slowly narrowing, signaling an easing of home supply constraints. The post Relief in Sight for a Housing Market Short on Supply appeared first on DSNews.

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Pending home sales are down 31% from last year

Housing Wire

An index of 100 is equal to the level of contract activity in 2001. Persistent inflation has proven quite harmful to the housing market,” Lawrence Yun, NAR’s chief economist, said in a statement. Yun noted that new listings are down compared to a year ago, as many existing homeowners do not want to give up the 3.0%

Contracts 525
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Housing inventory falls under 1M again as sales collapse

Housing Wire

housing market , we just experienced an event that most people never thought could happen. The Federal Reserve wanted a housing reset , and it got a housing recession, with activity falling the fastest since the brief pause during COVID-19. During that period, we saw new listing data decline.

Inventory 541