Jenn Pfeiffer
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News - Jenn Pfeiffer, Realtor
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News

Buyer Traffic Is Still Stronger than the Norm

BY: KCM Are you putting off selling your house because you’re worried no one’s buying because of where mortgage rates are? If so, know this: the latest data shows plenty of buyers are still out there, and they’re purchasing homes today. Here’s the data to prove it. The ShowingTime Showing Index is a measure of buyers touring homes. The graph below uses the latest numbers available and compares them to the same month in the last normal years to show just how active today’s buyers still are: As you can see, when June 2023 numbers are stacked alongside what’s typical for the housing market at this time of year, it’s clear buyers are still active. And,...

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Average homeowner equity in US declines for first time in over a decade, reflecting housing market slowdown

Fox News The average homeowner in the United States with a mortgage experienced a decline in home equity for the first time in over a decade.  According to CoreLogic, the average homeowner equity per borrower dropped by 1.9% in the first quarter of this year compared to the same period last year. Despite the overall decline in home equity, the number of homeowners who were "underwater" on their mortgage, owing more than their homes are worth, remained relatively steady at 1.2 million homes or about 2.1% of properties with a mortgage. For the first time in more than a decade, the average U.S. homeowner with a mortgage has less home equity...

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Why Today’s Housing Market Is Not About To Crash

By: Keeping Currents Matter There’s been some concern lately that the housing market is headed for a crash. And given some of the affordability challenges in the housing market, along with a lot of recession talk in the media, it’s easy enough to understand why that worry has come up. But the data clearly shows today’s market is very different than it was before the housing crash in 2008. Rest assured, this isn’t a repeat of what happened back then. Here’s why. It’s Harder To Get a Loan Now It was much easier to get a home loan during the lead-up to the 2008 housing crisis than it is today. Back...

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The Great Slowdown: The 10 U.S. Cities Where Home Sales Are Down the Most

By Evan Wyloge If the housing market of just a year ago still seemed to be moving at quantum speed, today it’s more akin to an interminable traffic jam—with no exit ramps or HOV lanes in sight. As higher mortgage rates have made buying a home ever more expensive, the pool of buyers who can afford to purchase real estate has dried up. Nationally, the number of existing-home sales plummeted 36% in November compared with a year earlier, according to a Realtor.com® analysis of CoreLogic data. (The data did not include sales of new-construction homes.) There were 395,000 sales in November 2021 compared with 251,000 one year later. So home...

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