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Market Studies

More and More Millennials, Gen Zers Staying Close to Home

“Making ends meet in today’s economy can be tough for anyone, but it’s often especially challenging for young people,” said Jacob Channel, LendingTree Senior Economist. In a new report, he revealed that nearly half of all young Americans are living in their hometowns, as two-thirds of young adults who moved back home during the pandemic still live with their parents.

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Empowering Industry Professionals

Joe Camerieri and Jim Rosen from Mortgage Cadence discuss how deploying tools like AI chatbots will never replace the human touch, yet enhance the knowledge base of mortgage professionals.

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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 Purchase Mortgage Apps Jumped in November

“Lending on new construction has been the one bright spot in an otherwise slow year for purchase originations,” said Mike Fratantoni, MBA’s SVP and Chief Economist. “That trend continued in November, with applications to purchase a new home up 22 percent compared to last year, while the purchase market as a whole remains about 20 percent behind last year’s pace."

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Snapshot: The Most Popular U.S. Housing Markets

"Affordability was the word on home shoppers' minds this year, and it shows in the most popular cities that buyers ... gravitated toward," said Skylar Olsen, Zillow Chief Economist. However, Olsen notes that "Heading into next year, the winds appear to be shifting just a bit."

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2023’s Resilient Economy Expected to Slow Next Year

“Last week’s comments by Chairman Powell, as well as the Federal Reserve’s updated Summary of Economic Projections, suggest increased Fed confidence that a soft landing has been achieved and inflation is headed sustainably to 2%,” said Doug Duncan, Fannie Mae’s SVP and Chief Economist.

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