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January 24, 2023
Land restrictions have slowed building nationwide

Land-use restrictions and a lack of public investment in roads rail and other infrastructure have made it harder than ever for developers to find sites to build homes.

As people keep moving to cities they are pushing up the price of dirt and making the housing shortages in these fast-growing areas even worse.

Land is far...

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January 18, 2023
Sellers make more concessions in 2023 housing market

In a real estate transaction both buyer and seller may use negotiating ploys known as "concessions " either to improve their own position or to encourage the other party to move forward with the deal.

When competition was very high during the pandemic housing boom buyers had to make most of these concessions.

Some agreed to...

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January 6, 2023
Home prices look like they have further to fall

As home sales continue to decline it makes sense that rising prices might decline as well. But it seems prices have a lot further to fall.

Existing-home sales fell 7.7%% in November according to the National Association of Realtors (NAR). Compared with November of 2021 home sales were down 35.4%%.

Despite decelerating gains the median price...

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December 20, 2022
Builders feel price pressure as housing market swoons

Confidence among U.S. single-family homebuilders fell for the 10th straight month in October as soaring mortgage rates and ongoing supply chain challenges made new housing less affordable particularly for first-time buyers.

Feeling the pressure from unsold inventory and unrealized profit margins builders are slashing prices across a wide range of price points geographies and consumer groups....

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December 13, 2022
Existing sales tumble amid housing downturn

U.S. existing-home sales plummeted 5.9% in October to a seasonally adjusted annual rate of 4.43 million the ninth straight monthly decline.

Existing-home prices continue to moderate given the backdrop of higher mortgage rates and cautious buyers. The median price for an existing home fell to $379 100 in October from $384 800 in September. Nine marks...

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December 6, 2022
Housing price calculation helps prop up inflation

Housing costs are a major driver of overall inflation keeping living expenses higher as other facets of the economy show some signs of easing.

Most estimates show actual home prices slowing - even dropping – after two years of steady increases. They offer hope that housing prices are starting to slow.

But the intense scrutiny of...

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