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Tag Archives: Inventory

Price Increases Complicating the Homebuying Process

While the average U.S. state experienced more than a 3% increase in home prices last year, a new study from the New Jersey Real Estate Network revealed the states where prices rose the highest in 2023 and how it affected prospective homebuyers.

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Buyers Looking Forward to Homeownership in 2024

According to a new Realtor.com survey, while 2024 is expected to remain a challenging year for homebuyers, nearly all first-time homebuyers overwhelmingly feel that they’ll be able to afford a home within their lifetime.

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Consumers Reveal Their 2024 Mortgage Rate Expectations

The Fannie Mae Home Purchase Sentiment Index revealed consumers' optimism surrounding mortgage rates surged in December, and according to Mark Palim, VP and Deputy Chief Economist at Fannie Mae, "a more optimistic rate outlook among consumers may signal an expectation that home affordability pressures will ease in 2024."

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Existing-Home Sales Recover From Five-Month Drop

The share of existing-home sales ticked up, ending a five-month slide, according to a new report from NAR, while the median existing-home price also jumped in November, marking a fifth consecutive month of year-over-year price increases.

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Home Buying Power Falls

The path to homeownership is becoming increasingly challenging for Americans nationwide, but how much can potential homebuyers afford to spend on a home in today's market? A new Point2 study showed that the median home price is now twice what the average buyer can afford, posing even more financial barriers for those seeking the American Dream.

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Homebuyers to Catch a Break In 2024?

Redfin’s new forecast examines whether next year's market will favor buyers, whether renting will lose any of its appeal, and how location will factor in due to issues such as in-office policies, climate risk, and affordability.

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