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Dave Stevens on understanding this housing market

Housing Wire

I have been part of the mortgage banking industry since 1983 — 39 years to date through different housing markets. In many ways it was similar to today, with one exception: When I started, I hadn’t been spoiled by a housing market like the one in 2020 and 2021. economy, especially the mortgage and housing sector.

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Red-hot US housing market begins to cool

Housing Wire

Though the demand for homes remained strong across the United States in August, there are clear signs that the housing market is past its peak. Still, the 69,563 homes that went into contract represented a 9% decrease from the high point set in May 2021. Why today’s housing market makes speed and agility crucial for lenders.

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A look at Knoxville’s hot housing market

Housing Wire

Many are eyeing scenic East Tennessee, where Knoxville and its surrounding suburbs have formed one the country’s hottest housing markets. Currently on Realtor.com , more than 2,000 homes are currently on the market in Knoxville with an average listing price of $270,000. Presented by: Radian.

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Luxury housing market inspires ‘total frenzy’ in vacation boom towns

Housing Wire

And while real estate agents repping luxury homes aren’t seeing as many bidding wars as they did this summer , their respective housing markets are still crazy right now. Contracts during this time also skyrocketed 62%. Presented by: NAMB. “Especially in the high-end luxury market.”. Very, very unique.”.

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New listings surge as the spring buying season approaches

Housing Wire

Prospective homebuyers have more options to choose from in the housing market, which could help spur sales this spring. Meanwhile, a Redfin report presented San Jose, California, Phoenix, Arizona, Las Vegas, Minneapolis, and Jacksonville, as the five metros with the largest gains in new listings.

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Build-for-rent is a bet on the ‘new normal’ housing market

Housing Wire

“With many homebuilders feeling the impact of rising mortgage rates on new-home sales, delivering units for rent is expected to continue to become a larger segment of the overall single-family housing market.”. on an annualized basis, according to Fannie Mae , to as much as 20%, according to some market forecasts.

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A more “normalized” housing market is on the horizon: NAR

Housing Wire

” Lawrence Yun, chief economist for the NAR , said the dip in contract signings suggests “multiple offers will soon dissipate and be replaced by much calmer and normalized market conditions.”. Fast-rising rents will encourage renters to consider buying a home, though higher mortgage rates will present challenges,” Yun said.