Inventory keeps contracting as higher rates deter sellers: Redfin

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National scarcity of houses gives sellers the edge – Some who had locked in ultra-low fixed mortgage rates may be reluctant to take on a new loan at a higher. Its inventory was up 6.5 percent in the first quarter. Yet it was still down 61 percent.

Some who had locked in ultra-low fixed mortgage rates may be reluctant to take on a new loan at a higher. Its inventory was up 6.5 percent in the first quarter. Yet it was still down 61 percent.

Lessons Learned From Not Selling My House. Posted by Financial Samurai 52 Comments.. Keep inventory lean so that the real estate industry finally starts lowering their commissions. The less inventory there is, the higher prices will go as well.. There will likely be a pause in appreciation as interest rates go higher, but so long as you.

Those notice of defaults are all rather recent and with FHA insured loans defaulting at higher rates, you are starting to see folks going into foreclosures even after home prices collapsed in round one of the housing market correction. $100k properties in Irvine? It seems like banks are getting aggressive on moving condos in Irvine.

US home buyers, already contending with escalating prices, now are getting hit with the most-expensive mortgage rates in seven years. Funny thing: It’s only making them move faster. The average rate for a 30-year fixed mortgage jumped to 4.61 percent, up from 4.55 percent last week and the highest.

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What people see however, is prices going up, available inventory going down, and their ability to buy more house expand courtesy of mortgage rates. Today I want to focus on the inventory side of the equation because it has fallen dramatically in the last few years and is causing bidding wars in certain metro areas. Housing inventory

If you’re looking to buy a house on the West Coast, good luck – more than two-thirds of the most competitive markets in the United States are in Washington and California, according to a new.

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"In the first half of the year, the housing market was able to keep its head above water, despite high prices and low inventory, because buyer demand was so strong," said Redfin chief.