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Housing Market Tracker: Mortgage rates and inventory fall together

Housing Wire

These events led to lower mortgage rates and increased purchase application data last week, but decreased housing inventory. Here’s a quick rundown of the last week: The 10-year yield had a Lord of Rings battle at a critical technical level, pushing mortgage rates lower at the end of the week with no real break in the bond market.

Mortgages 445
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Buyer’s Market vs Seller’s Market: What’s the Difference?

The Close

Sure, certain seasons might have more foot traffic than others, but the housing market could vary drastically from neighborhood to neighborhood. Strategic home searching: The high inventory allows buyers to be choosy. This phenomenon means there are fewer buyers than there are homes for sale. Check out zBuyer at the link.

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HousingWire debuts Housing Market Tracker

Housing Wire

Starting this week, I will analyze weekly data in a Housing Market Tracker article every Monday to provide a status update on the U.S. The housing market is one sector that can turn positive or negative very quickly depending on mortgage rates or one-time shocks like we saw with COVID-19. Housing market inventory.

Marketing 497
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Housing Market Tracker: Mortgage rates over 7%

Housing Wire

Active housing inventory , thankfully, saw some decent growth last week. Here’s a quick rundown of the last week: Active inventory grew 8,914 week to week, even though new listing data is still trending at all-time lows in 2023. Mortgage rates rose to a 2023 year high of 7.12% as the debt ceiling talks pushed bond yields higher.

Mortgages 508
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San Jose Real Estate Market & Investment Overview

Marco Santarelli

Buyers need to earn $203K per year to afford a median-priced single-family home whereas the average income needed to buy a house nationally is $60,770. In other words, there are many interested buyers, but the real estate inventory is low. Available inventory remains low and can’t keep up with the high buyer demand in this market.

Marketing 126