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Real Estate Markets Set to Normalize in 2023 After Nearly Three Years of the Pandemic Boomhttps://www.mansionglobal.com/articles/real-estate-markets-set-to-normalize-in-2023-after-nearly-three-years-of-the-pandemic-boom-01672574407Is New York City facing a ‘doom loop’ scenario? A discussion has started.https://gothamist.com/news/is-new-york-city-fa…
 
Agents gear up for turbulent 2023Median days on market almost a month more Price decreases jumped 20% a Mortgage rates are double 6.3% compared to 3.28% a year ago Redfin reports that the bidding wars is down 23%New home sales surprise in November6% rise month over month by U.S. Census Bureau and the Dept of Housing and Urban Development (HUD).Arti…
 
Housing market trends to watch for in 2023Prediction 1: The affordability crisis will stabilize as home prices post the first year-over-year decrease in over a decade and mortgage rates decline, settling somewhere in the mid-5% to low-6% range.Prediction 2: Housing markets in the Midwest and Northeast will hold up best as the overall housing market…
 
Redfin shuts down iBuying operation, cuts 860 jobs - Since April Redfin has cut 27% of its workforce as it adapts to the housing market slowdown https://www.realtrends.com/articles/redfin-shuts-down-ibuying-operation-cuts-860-jobs/Compass turns to cost cutting as its tackles a ‘generationally bad year’ The brokerage lost $154 million during the thi…
 
Deep Expansion of ExpeXp Realty exceeds 85,000 real estate agents, a 30% YOY rise, 24 markets globallyStop using 2021 as a benchmark for home salesCompared to the historical average of the previous eight years (2012–2019), transaction volumes in 2022 would be down only 0.9%. By contrast, compared to the same historical average, transaction volumes …
 
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