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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. This marked the lowest market share for new homes in three years. market share, while first-quarter 2022 saw a record high of 34.4%. Census Bureau. million units.

As-is 370
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2024 is not the year to cut corners on staging — here’s why

Housing Wire

When it comes to home staging, there are two homeowner camps: those who think it’s a waste of money and don’t want to pay more to make their home more attractive to buyers and those who realize the worth and are willing to make the investment needed. As a listing agent , I pay for both a staging consultation and staging items as needed.

Staging 459
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Marketing Leaders take the stage at HW Annual Oct. 10-12

Housing Wire

What does marketing look like in 2023 and beyond? It’s a question we’ve started to ask our Marketing Leaders each year as the changing landscape requires top leaders to be agile in their strategies. The one theme in all of this that we’ve heard from our Marketing Leaders is the power of data.

Staging 434
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‘Zillow, virtually stage my listing photos in an art deco style with pink accents!’

Housing Wire

On Tuesday, the residential real estate giant announced the acquisition of Virtual Staging AI (VSAI). Founded in 2023 by Michael Bonacina and Mikhail Andreev, VSAI helps home sellers, agents and photographers create digitally staged images of a listing, eliminating the need for physical furniture in the home.

Staging 435
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Labor market report is good news for mortgage rates

Housing Wire

The labor market isn’t tight anymore and that will eventually be good news for mortgage rates. The current state of the labor market results from a series of events, with COVID-19 being a significant catalyst. Today the labor market is less tight, but the Fed would love to see this number even lower, down to 7 million.

Mortgages 513
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This savagely unhealthy housing market needs higher rates

Housing Wire

million , with double-digit home-price growth driving a housing market that is still savagely unhealthy. Spoiler: If you haven’t realized that the housing market since 2012 has been trolled out by professional grifters who don’t ever forecast sales, that is on you. from April 2021 ($340,700), as prices increased in each region.

Marketing 528
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Housing Market Tracker: Weekly inventory adds 1,339 homes

Housing Wire

The weekly data shows some good news for the housing market ! With mortgage rates also falling, I am hopeful that more people will list their homes and buy another, so we can get back to a more functional housing market. Here’s the rundown for the last week: Purchase application data has stabilized — the bleeding stopped.

Marketing 534