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Residential real estate activity picks up despite low inventory

Housing Wire

Residential real estate activity picked up in most Districts despite continued low inventories of homes for sale,” the report states. In return, the lack of inventory of homes for sale pushed demand for rental properties in some areas — including New York, Chicago, St. Louis, Kansas City Federal Reserve districts.

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Going, Going, Gone! Homes Are Selling the Fastest in These Markets

Realtor.com

To be clear, these markets aren’t languishing by any means; many are taking about the same time to sell as the average home sold just a year ago. These places tend to have more inventory, and more homes for sale means buyers can be a little pickier about when they put in an offer. Median days on market in April: 8.

Marketing 133
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Fed’s Beige Book shows recent moderation in mortgage rates propped up demand for homes

Housing Wire

Moderation in mortgage rates led to a pickup in demand for residential real estate, but limited inventories across the country hindered actual home sales , the Federal Reserve reported in its Beige Book survey of regional business contacts that was published Wednesday.

Mortgages 420
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How to Do Real Estate Market Analysis in 2023?

Marco Santarelli

This increased population growth creates demand for more local housing which helps push property values and rental rates up, in addition to an ongoing need for good residential housing stock. Industry Diversification A market with a diversified range of industries offers less market volatility in harder economic times or recessions.

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The nation’s housing market is on a correction course

Housing Wire

Several leading housing-market economists also are projecting the deceleration in home prices will continue in near the future as homebuyer demand ebbs — with one economist even predicting that prices will decline in some particularly hot markets across the nation. So, home sales have really gotten completely hammered,” Zandi said.

Marketing 397
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Inventory needs to increase to balance housing market: Fed Beige Book

Housing Wire

High inflation has reduced consumers’ purchasing power, which has led to weakened sales and construction across all 12 Federal Reserve districts. While home prices have started to inch down, more inventory is needed for a balanced housing market, the Federal Reserve Beige Book said. However, housing affordability worsened.

Marketing 421
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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. Following dampened activity from buyers, sellers provided increased concessions, such as temporary rate buydowns or paying closing costs to complete sales, the report noted.

Marketing 370