Home Sellers Need Help from Real Estate Professionals for Accurate Pricing
A quick internet search will reveal dozens of automated valuation modeling (AVM) sites that promise to tell you how much your home is worth. These AVMs use statistical modeling techniques that “value” your home by comparing it with the price of similar-sized homes that have recently sold in your area. Using proprietary software, AVMs crunch publicly available numbers from the multiple listings service and combine... Read More
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Four Reasons Today’s Market Is Different from the 2008 Housing Crisis
Today’s housing market is very different from the 2008 housing crisis. At the NAR Real Estate Forecast Summit, NAR Chief Economist Lawrence Yun highlighted the four key reasons why home prices are expected to remain steady in 2023.
Job Market
During the last recession, 8 million jobs were lost in just one year. However, in the current... Read More |
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Lower Mortgage Rates Could Help Declining Home Sales
For the 10th consecutive month, existing-home sales have declined, according to the National Association of Realtors (NAR). In November, every sales region in the country reported both month-over-month and year-over-year declines. This level of sales activity was last seen in the country in 2020, when COVID-19 led to economic lockdowns. According to Lawrence Yun, chief economist for NAR, November’s sales declines.... Read More
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