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10 Housing Markets Cooling the Fastest in 2023

Broke Agent Media

Is your market heating up or slowing down this spring? The dichotomy of the current market has some areas seeing multiple offers flood in while others are experiencing a slower pace and a rise in seller concessions. So, which markets are cooling off the quickest?

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

Realtor.com

” Can seller concessions balance out rate hikes? Sellers might not think it’s the best time to list homes, but could it be a good time for home shoppers to buy? . “From August 2021 to April 2022, the active listing count was stable with few changes.

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

Real Trends

There will be less price negotiation, more rate buy-downs and more seller concessions. There is more price negotiation and fewer concessions on these transactions, so we can expect to see luxury properties continue to thrive despite the cooling market.

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

The Close

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. Anything more than six months is traditionally considered a buyer’s market. In this scenario, sellers have the upper hand in negotiations.

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

Housing Wire

“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. Days on market is also trending back to what is more normal for our market as well.”

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Tight inventory and frustrated buyers challenge agents in Virginia

Housing Wire

In Newcomb’s base metro area of Charlottesville , there were an average of only 277 active single-family listings during the same recent 90-day period, compared to 892 at the onset of the pandemic. In Wise County , there were only 56 listings. Clarkson is also seeing a decent amount of competition despite higher prices and interest rates.

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

HomeLight

Sample seller expenses for a $453,300 house. Cost to seller. Seller concessions. But in Texas, the seller customarily pays for the owner’s policy while the buyer pays for the lender’s policy. Seller concession. If the buyer finances the home purchase, their lender typically caps seller concessions.