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New Home Sales Decline Despite Highest Inventory Since 2008

Pro Builder

New Home Sales Decline Despite Highest Inventory Since 2008. For-sale inventory is being added to a heated housing market at a lightning pace, but buyers are still reluctant to jump into the fray. The total supply of new homes rose to its highest level since 2008 in February, but new home sales across the U.S.

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Forbearance Exits Expected to Add Inventory

Pro Builder

Forbearance Exits Expected to Add Inventory. A wave of inventory could come soon as hundreds of thousands of homeowners are expected to exit forbearance, with a significant share likely to list their homes. This not only benefits the market’s inventory problem, but homeowners can benefit from the significant price appreciation.

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Amid Tech Layoffs and Falling Inventory, the Bay Area Housing Market Is Losing Buyers

Pro Builder

in February, and the previous months saw the largest year-over-year median price declines in the city since 2008-2009, according to SFGate. Not only is uncertainty in the tech sector leading to weaker homebuying demand, but a lack of for-sale inventory is creating additional hurdles for prospective buyers.

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Adjustable-Rate Mortgages Are on the Rise Once Again—Here’s What That Means for Today’s Homebuyers

Pro Builder

Adjustable-rate mortgages (ARMs) played a significant role in the Great Recession of 2008, which is why a rising share of adjustable-rate mortgage applications in 2022 raised some eyebrows amid talks of a housing downturn. Lending practices have been reformed after hard lessons learned in 2008.

Finance 98
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For Buyers Bogged Down by Rising Interest Rates, This Fall Season Looks Different From Years Past

Pro Builder

Fall homebuyers are combatting skyrocketing interest rates, peak inflation, and economic volatility not seen since the 2008 Great Recession. 8, overall housing inventory grew considerably, up by 31% over this same week last year. For Buyers Bogged Down by Rising Interest Rates, This Fall Season Looks Different From Years Past.

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A More Balanced Market Is Returning as Competition Eases

Pro Builder

Waning buyer demand and rising inventory levels offer relief for those who can still afford home purchases. After a frenzied start to the year, homebuying conditions are improving as inventories climb, price growth slows, and competition eases nationwide. A More Balanced Market Is Returning as Competition Eases.

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Mortgage Banks Reported Negative Profits for the First Time Ever in 2022

Pro Builder

The rapid rise in mortgage rates over a relatively short period of time, combined with extremely low housing inventory and affordability challenges, meant that both purchase and refinance volume plummeted," [Marina] Walsh said. The 2022 deficit represents a 113% decrease from the previous year's average income of $2,339 per mortgage.

Banking 52