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As the lock-in effect eases, the market for new homes is shrinking

Housing Wire

As high mortgage rates reshape the housing market, existing homes are making up a larger percentage of for-sale inventory, and homebuyers are taking notice. NAR data shows that the annualized rate of existing-home sales dropped 1% from August to September, landing at 3.84 The sales pace was down 3.5% million units.

As-is 369
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Maryland-based Anchor Home joins Compass

Housing Wire

Collectively, the group brings more than $400 million in career sales and 500-plus closed transactions across Maryland markets, including Annapolis and Severna Park. Anchor Home specializes in high-end residential sales, staging, new construction consultations and renovation strategies.

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The Fed’s monetary policy is stifling new construction

Housing Wire

We had a good few months of positive builder confidence data for the new home sector and positive purchase application data for existing home sales. As I noted on CNBC today, we can grow existing home sales and increase housing production, but we need mortgage rates to stay around 6% for some time.

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New home sales fall to lowest pace in a year

Housing Wire

Sales of newly built , single-family homes fell to the lowest pace in a year, down 5.9% Regionally, new home sales rose in two of the four regions in May. Sales grew 33% in the Northeast, 6.7% Against the backdrop of the COVID-19 pandemic, new home sales are still 9.2% months at the current sales rate.

Sales 450
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NAR’s Lawrence Yun predicts lower rates, 15% jump in existing-home sales in 2024

Housing Wire

Yun took the stage on Tuesday at NAR NXT , the trade group’s annual conference in Anaheim, California. However, as mortgage rates stabilize and home sellers adapt, “Existing-home sales will rise by 15% next year,” Yun said. In 2023, new-home sales are up 5% year to date, Yun said.

Sales 458
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Eight startups selected for NAR’s REACH tech program

Housing Wire

The eight companies accepted into the 2025 REACH program include: Foyer , a financial technology firm offering tools to help consumers save to buy a home, including a 401(k) for homeownership concept and personalized guidance Guest House , a platform that automates home preparation services such as staging, cleaning, photography and moving to help (..)

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Florida Housing Sets New Bar With $285M New Construction Listing

Marco Santarelli

The Florida housing market is undeniably hot right now, making headlines with a record-breaking $285 million new construction home hitting the market. According to Realtor.com , this ocean-to-lake estate is poised to shatter records as the most expensive new construction single-family home in the country. Absolutely not!