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Don’t get too excited about the jump in existing home sales

Housing Wire

Another positive data line is that the days on market are above 30 days, which is something I would love to see year-round. The days on market are very seasonal, but we haven’t had the days on market stay over 30 days year-round since 2020, which is a reflection of active listings still being near all-time lows.

Sales 469
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A San Diego data dive shows a market upended by tight supply

Housing Wire

A sales boom in 2020 and 2021 slashed home listings’ days on market and pushed up home sales’ price per square foot and sale-to-list price ratios. Mortgage data paints a similar picture of the increasing competitiveness of the San Diego market. The number of listings in San Diego fell 50.5%

Marketing 448
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DataDigest: How hot is housing? Three ways to tell

Housing Wire

Federal Housing Finance Agency and the MSA-level “hotness” scores from Realtor.com. Turning to the Realtor.com hotness scores, this measure attempts to calculate each MSA’s standing compared to the nation’s other MSAs based on listings’ median days on market and average listing views on Realtor.com.

Finance 438
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Residential real estate activity picks up despite low inventory

Housing Wire

Richmond – Residential real estate respondents indicate in the report that the spring market is off to a good start, with sales prices continuing to appreciate, but not at the same pace as last year. However, fluctuations in mortgage rates have caused buyers to pull back, with pending sales and closed sales both down in this District.

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Have we finally hit the bottom in existing home sales?

Housing Wire

Below are a few charts to go along with the existing home sales report: From NAR: First-time buyers were responsible for 28% of sales in October; Individual investors purchased 15% of homes; All-cash sales accounted for 29% of transactions; Distressed sales represented 2% of sales; Properties typically remained on the market for 23 days.

Sales 409
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Our 19-point house-hunting checklist for real estate agents & their clients

Housing Wire

Before meeting with a mortgage lender, buyers should have a clear picture of their finances. There’s nothing more frustrating for agents or buyers than dealing with a 1-800 number when there’s a financing issue and the commitment date is looming. Drive neighborhoods at different times of day. Meet with a financial advisor.

Agents 433
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DataDigest: Yes, buyer agents steer clients, new study claims

Housing Wire

Page views also are only one leg of the study’s three-legged stool; the researchers examined commission rates’ impacts on page views, days on market and sale probability.

Agents 457