Tag: Market Update
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California Condo Prices Drop Up to 40% in Some Areas
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Condo owners in parts of California are cutting their asking prices by up to 40% on Zillow, the real estate marketplace app. As of Wednesday morning, there are 8,476 condos listed for sale on Zillow in California. Of these, 1,973 have had their asking prices reduced. Most of these price cuts are in San Francisco,…
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Real Estate Update 12/2023: Homebuyers Pause as Interest Rates Rise
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Key Points: Mortgage demand is facing challenges as interest rates make a comeback, affecting especially those looking to buy homes. What Happened: Why the Pause: What’s Behind the Rates: In conclusion, the real estate market is seeing a slowdown in homebuyer activity as interest rates tick up. Mortgage applications for refinancing are on the rise,…
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Good News For Home Affordability In December 2023
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Key Points: In December 2023, the U.S. saw positive changes in housing affordability, according to the National Association of Realtors (NAR). Monthly Improvements: Regional Differences: Yearly Changes: Job Market and Mortgage Rates: Final Thoughts: December brought good news for homebuyers, with improvements in affordability at the national level. While challenges persist, the positive trends in…