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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. In return, the lack of inventory of homes for sale pushed demand for rental properties in some areas — including New York, Chicago, St. Louis, Kansas City Federal Reserve districts.

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Record mortgage rates killed existing home sales in November

Housing Wire

Existing home sales slid for the 10th consecutive month in November, as homebuyer demand continued to cool. The seasonally adjusted sales rate for existing homes fell 7.7% On a yearly basis, existing home sales are down 35.4%. On a yearly basis, existing home sales are down 35.4%. “In million homes, which represents 3.3

Sales 343
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Inventory needs to increase to balance housing market: Fed Beige Book

Housing Wire

High inflation has reduced consumers’ purchasing power, which has led to weakened sales and construction across all 12 Federal Reserve districts. While home prices have started to inch down, more inventory is needed for a balanced housing market, the Federal Reserve Beige Book said. However, housing affordability worsened.

Marketing 394
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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.

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The nation’s housing market is on a correction course

Housing Wire

Several leading housing-market economists also are projecting the deceleration in home prices will continue in near the future as homebuyer demand ebbs — with one economist even predicting that prices will decline in some particularly hot markets across the nation. So, home sales have really gotten completely hammered,” Zandi said.

Marketing 418
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Will the Housing Market Maintain Its Momentum?

Keeping Current Matters

Last week’s Existing Home Sales Report from the National Association of Realtors (NAR) shows sales have dropped by 3.7% This is the second consecutive month that sales have slumped. Some see this as evidence that the red-hot real estate market may be cooling. It shows that newly constructed home sales are up 20.7%

Marketing 329
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5 Reasons Today’s Housing Market Is Anything but Normal

Keeping Current Matters

According to Black Knight , a housing data and analytics company, the average annual appreciation on residential real estate prices since 1995 has been 4.14%. Months’ Supply of Inventory (Homes for Sale). As of the latest Existing Homes Sales Report from NAR, the current months’ supply of inventory stands at 2.6. in 2019.

Marketing 341