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Tag Archives: Median Home Price

Rise in Interest Rates Force Home Prices Lower

“Prices falling from a year ago is a milestone because it hasn’t happened since the housing market was recovering from the 2008 subprime mortgage crisis. But it’s not surprising and in many ways, it’s welcome,” said Redfin Deputy Chief Economist Taylor Marr.

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Inventory Makes Record YoY Recovery

"The number of homes for sale on the market is up significantly from a year ago, even though fewer homeowners have listed their home for sale in recent months,” said Danielle Hale, Chief Economist for Realtor.com.

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Buyer Demand Softens as Homes Linger on Market

Although homes are staying on the market longer compared to last year, numbers are still moving faster than pre-pandemic norms. Meanwhile, homebuyers nationwide are pulling back or halting their home searches due to affordability constraints.

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Limited Inventory Still Hampering Home Sales

In September 2022, existing-home sales fell for the eighth consecutive month. “The current lack of supply underscores the vast contrast with the previous major market downturn from 2008 to 2010, when inventory levels were four times higher than they are today," said Lawrence Yun, Chief Economist for NAR.

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Scalable Technology Can Help Non-Bank Lenders Gain Market Share

Fitch Ratings expects that most issuers should be able to withstand current market conditions and potentially gain market share through scalable technology platforms, diversification, balance sheet strength, and access to liquid capital, all of which should afford them the flexibility to mitigate operational losses.

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