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Existing home sales fell in June while monthly median sales price spiked

Housing Wire

With elevated mortgage rates sidelining both home buyers and sellers, existing home sales fell in June, according to the latest report from the National Association of Realtors (NAR). Sales were also down significantly from a year prior. Total existing home sales slipped 3.3% Year-over-year, sales dropped 18.9%

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What happens with mortgages if there’s a recession?

Real Estate News

Even if the hoped-for economic “soft landing” isn’t so soft, don’t expect to see a wave of short sales and foreclosures next year.

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Real estate tech roundup: Hubzu and Brookfield Residential

Housing Wire

Hubzu is an end-to-end asset management platform for residential foreclosure, short sale, REO, deed in lieu, CWCOT and retail property auctions. million bids and the sale of more than 225,000 homes. The app offers potential buyers tools to find, research and bid on homes via a competitive auction format. and Denver markets.

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9 Tips for Buying a Preforeclosure (Especially If It’s Your First)

HomeLight

As youre getting familiar with the lay of the land eyeballing homes that seem to meet your criteria and fit your budget , daring to let yourself feel excited about the possibilities maybe you stumble upon a listing marked as a preforeclosure. The nature of a short sale is that the homeowner owes more than what the home is worth.

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How a transparent marketplace provides a proven path to benefit homeowners

Housing Wire

Walking that thin line is becoming increasingly important as more distressed sales are pushed up-funnel into the pre-foreclosure marketplace — a trend that began developing about 10 years ago and has accelerated in earnest over the last two years.

MLS 435
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The 2023 Housing Market: A Look Ahead

Housing Wire

There won’t be forced home sales like we saw in the crisis. Short sales are unlikely to reemerge unless there is a serious deterioration in borrowers’ ability to pay their mortgages. . The low levels of inventory seen in the data and experienced by homebuyers were a result of demand and rapid sales.

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Think US home prices are high? At least we aren’t Canada

Housing Wire

foreign buyers have always been less than 300,000 of total home sales for many years. When you think about our total home sales being between 5-6 million, foreign investment isn’t that much. Breaking that threshhold would mean we are in unhealthy home-price growth land. This is why if total home sales in America get to 6.2