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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. New York – The residential sales market has been strong across the District. New home builders have benefited from the unseasonably modest sales of existing homes as the resale market has slowed.

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Compass files an antitrust suit against NWMLS over its CCP

Housing Wire

Outside of Washington, homeowners can choose to list their home as a Compass Private Exclusive or Compass Coming Soon and receive the benefits of pre-marketing. Nearly 100% of the residential real estate transactions by Seattle area real estate brokers are listed on NWMLS, and NWMLS has no meaningful competitors, the complaint adds.

Brokerage 321
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Inventory needs to increase to balance housing market: Fed Beige Book

Housing Wire

“Housing markets continued to weaken, with sales and construction declining across [all 12 Federal Reserve] districts,” according to the Federal Reserve Beige Book released on Wednesday. The report noted that “most bankers reported that residential mortgage demand remained weak.” However, housing affordability worsened.

Marketing 448
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Why Austin home prices remain stubbornly high

Housing Wire

Looking at Altos Research data on home prices, inventory and days on market over the past five years, Austin’s meteoric rise during the pandemic era — and its abrupt cooldown after mortgage rates started to rise in May 2022 — are evident. Contrast that with June 2022, when the average was a mere 29 days.

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Experts weigh usefulness of exclusive listings

Housing Wire

This shift is prompting real estate professionals and consumers alike to reevaluate implications of this marketing approach. Office exclusives, also known as private or pocket listings , refer to residential properties that are marketed privately rather than being broadly shared through the Multiple Listing Service (MLS).

MLS 284
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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. Days on market increased slightly but remained below historic averages.

Mortgages 448
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The nation’s housing market is on a correction course

Housing Wire

Boston — First District [Boston] contacts reported that higher mortgage rates had led to somewhat cooler demand for residential real estate, resulting in increased inventories in recent months. Cleveland — Residential construction and real estate activity softened further amid rising interest rates. Rents rose modestly.

Marketing 418