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Here’s why new home sales are up along with prices

Housing Wire

Today new home sales beat estimates , and new home median sales prices hit an all-time high. Hopefully, I can make sense of this report, which showed the home sales beat estimates with prices still at all-time highs. In theory, the sales levels are lower than the data will show. What is going on here?

Sales 429
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Housing Market Tracker: Inventory falls again

Housing Wire

I want to focus on these three data lines because they will give us a glimpse into the future, so we don’t have to wait for the existing home sales data, which can be old if the market turns. This data had a historic year in 2022, with a waterfall collapse that wiped out eight years of the index in one year.

Marketing 442
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Days on market grow despite low inventory for existing homes

Housing Wire

The National Association of Realtors (NAR) reported today on two trends in existing home sales that we have seen for many months now: sales are declining while total inventory data has fallen directly for the three straight months. However, I knew the years 2020-2024 would see better demand from the bump in demographics.

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Logan Mohtashami’s 2023 housing market forecast

Housing Wire

The 2022 housing market was savagely unhealthy , with all-time lows in inventory leading to massive bidding wars and price spikes until the Fed put a screeching halt to all of it with rate hikes that resulted in the most significant one-year spike in mortgage rate history. Home price s. national home price decline.

Marketing 529
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Housing Market Tracker: Banking crisis is a new variable

Housing Wire

As I write this article, I see news that even Warren Buffet has been asked to chime in on how to deal with this crisis. If the economy gets weaker and we see a rise in jobless claims, the 10-year yield should go as low as 2.73%, translating to 5.25% mortgage rates. Last week the two-year yield collapsed from a 5% level to under 4%.

Banks 368
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The Best Buying Advice of 2022: Our Top Tips for Homebuyers To Use in the New Year

Realtor.com

Mortgage rates were low, then soared to a 20-year high of 7.08% before dipping again. Median national list prices rose to a historic $450,000 , and then they, too, began to fall. Homes in July were snatched up in 34 days—and come November, they lingered on the market for 56 days. And happy home hunting.). The result?

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Sioux Falls Housing Market: Prices, Trends, Forecast 2023

Marco Santarelli

While mortgage interest rates have decreased slightly from their peak last fall, affordability constraints continue to limit homebuyer activity. Existing home sales have declined for the twelfth consecutive month, according to the National Association of Realtors. while pending sales increased by 15.7%. to 80 days.