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Home Prices Fall and Listings Soar: Could It Be a Great Time To Buy Despite High Mortgage Rates?

Realtor.com

After the COVID-19 pandemic-fueled homebuying rush reduced the number of homes for sale to all-time lows, the inventory of housing has since rebounded. more homes for sale in November compared with the same month in 2021. That translates to a whopping 240,000 more homes for sale on any given day in November.

Mortgages 120
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A top agent’s take on 2023 housing trends

Real Trends

If the interest rates do drop and get closer to 5%, agents can expect a mini-boom in which the low rates will re-inspire housing demand significantly and boost overall sales. There will be less price negotiation, more rate buy-downs and more seller concessions. That includes the lender your homebuyers and sellers have chosen!

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

The Close

When supply exceeds demand, we see a buyer’s market. This phenomenon means there are fewer buyers than there are homes for sale. Competition is lower for a home, and the number of days on market increases for listings. A buyer’s market can be determined by calculating the months of inventory.

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Rising insurance costs, ample inventory create a unique market in Southwest Florida

Housing Wire

Unlike many other metropolitan areas across the country , the housing market in Southwest Florida is comparably flush with for-sale inventory. “I Last year we were still adjusting from the effects of the pandemic market, but now the trends seem to be getting back to our baseline, which is more like our 2019 market,” Smith said.

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How Much Should I Budget to Sell My House? Here’s the Average Cost

HomeLight

Kentucky-based Dianna Caldwell , a seasoned agent with 16 years of industry experience under her belt, gave us a rundown of seller costs and what homeowners should budget before they sit down to the closing table. We break down what the cost of a home sale could look like based on the average U.S. Cost to seller.

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What Is the Cost to Sell a House in Texas?

HomeLight

After new home sales set records in 2021 , the Texas housing market cooled in recent months, generally seeing decreases for homes under $400,000 that offset increases for homes priced over $750,000. To illustrate, if you sold your Texas Craftsman home for $325,000, the seller’s costs could range from $22,750 to $26,000.

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How to Find Comps for My House: An Illustrated Guide

HomeLight

Before contacting a real estate agent, you had no idea how much your house was worth , or how much you could make in a home sale. This “how to find comps for my house” crash course will teach you how to find comparable sales and calculate a rough estimate of your home’s home’s value. How do home sellers use comps? Transactions.

MLS 109