Remove 2022 10 existing-home-sales-continue-to-drop-amid-rising-mortgage-rates
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Economic Forecast For 2022 & 2023: Signs of a Recession?

Marco Santarelli

macroeconomics specialists at the beginning of June 2022. More than half of the economists polled expected that the same forces—geopolitical worries arising from the Ukraine war and increased energy costs—would endure for the rest of 2022 and into 2023, putting pressure on inflation in the United States to rise further.

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New home sales falter at the start of 2022

Real Trends

After posting double digit month-over-month increases in November and December , new home sales dropped in January, decreasing 4.5% from the month prior to a seasonally adjusted annual rate of 801,000, according to data released by the U.S. Year over year, the sale of new homes was down 19.3% in January.

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Home Values Keep Climbing in Spring Shopping Season’s Last Hurrah (July 2023 Market Report)

Zillow Market Reports

home value climbed 0.9% The nation’s typical home value now sits at an all-time high ($349,679), which is 1.4% year-over-year growth, this marks the first acceleration in annual growth since April 2022, ending a 16-month streak of decelerating annual price gains. Austin saw typical home values dip by -0.5%

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The nation’s housing market is on a correction course

Housing Wire

Rising interest rates and a slowing economy overall are already taking some of the air out of the rapid home-price appreciation the housing market has experience over the past year, according to the recently released Federal Reserve Beige Book for July.

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Fed’s Beige Book predicts further uncertainty for the housing market  

Housing Wire

Interest rates and inflation continued to dampen activity in the housing market across all 12 Federal Reserve districts, according to the Fed’s latest Beige Book. In the New York and San Francisco districts, potential homebuyers opted to rent instead of purchasing due to elevated prices and higher mortgage rates.

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New Home Sales Take Surprising Dip for Second Straight Month

RIS Media

Sales of new homes decreased unexpectedly last month amid rising mortgage rates and home prices, according to new data release today from the Commerce Department. According to February data, new home sales decreased 2% to an annually adjusted rate of 772,000.

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2023 Housing Market Year In Review: A Market Ruled by Mortgage Rates

Redfin

18 housing trends that defined the year, including record mortgage rates, depleted inventory, and dwindling home sales 2023 was a difficult year for the housing market. It started with a continuation of negative trends from the end of 2022 and turned into the least affordable year for home buying on record.