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

Housing Wire

The report noted that “most bankers reported that residential mortgage demand remained weak.” Elsewhere, rents have generally been steady, though one contact in upstate New York noted that already high rents have continued to trend up. Rental vacancy rates, while still quite low, have risen modestly.

Inventory 417
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Will Springer Realtor - Untitled Article

Will Springer Realtor

Government planners in our four-county region have until the end of this year to revise and then implement by mid-2025 their Comprehensive Plans for growth management to provide adequate space for housing, transportation and services (among many other aspects) to all its residents for the next 20 years. Prices rose, too, to near-record highs.

HOA 36
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Will Springer Realtor - Untitled Article

Will Springer Realtor

month backlogs of contract work, as of Q4 (latest data available), which is down from the peak of 4.8 Information from the National Mortgage Database shows 83% of all mortgage holders enjoy an interest rate below 5% when today’s average rate is about 6.5%. Kitchen and bath professionals are reporting 3.9-month

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IS THE REAL ESTATE WINDOW CLOSING SHUT?

Will Springer Realtor

The Federal Reserve, which has been buying mortgage-related securities for more than a year to artificially keep interest rates low, has signaled a desire to taper its bulk purchases within the next month or so. A 30-year mortgage in our area could be had for about 3.125%, up from about 2.875% a month ago. New listings are up 6.3%

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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. this chart shows, each time the economy slowed significantly, mortgage rates declined. year-on-year (YoY).

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Millennials Expected To Maintain Real Estate Buying Intensity

Will Springer Realtor

Home prices are overheating, mortgage rates are inching up from the start of the year and the supply of homes is in an unseasonable valley – far from its Mt. Today, 37% of all buyers are Millennials and they comprise about 54% of all mortgage applications. of mortgages underwater); Multnomah County (Portland), Ore. points at 34.

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JUST IN TIME: THE 15-MINUTE COMMUNITY

Will Springer Realtor

Create options for multiple modes of transport – bikes, cars and transit should all be factored in. David Goldberg, chair of the Land Use & Transportation Committee of the Seattle Planning Commission, is helping to lead the city’s own 15-minute neighborhood. of all mortgaged properties, were in negative equity.

Buyers 36