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Is the Housing Marketing Taking Off or is Housing Crashing??
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🌟 This week we dive deep into the currents reshaping the housing landscape! 🏠 The NAR settlement has left the industry buzzing, with several brokerages standing outside the agreement's umbrella. As President Biden voices his support, claiming substantial savings for homebuyers, NAR President Kevin Sears sheds light, yet questions linger. 🤔
Consumer advocates celebrate this as a victory for market competition, while a lawsuit shakes Keller Williams over profit share adjustments. 📉 Meanwhile, mortgage demand hits a pause despite softer interest rates, and January sees US home prices surging at a record pace since 2022. 📈
In an affordability crisis, typical households fall $30,000 short of owning a median-priced home—yet, hope glimmers compared to last year. 🏡 Renting now trumps buying in affordability across all major US markets. Plus, the housing supply sees a significant 5% increase, marking a near-year high. 💡
"Generation Nepo-Homebuyers" emerge, with over a third relying on family wealth for down payments. Lastly, the co-ownership wave hits vacation homes, with Pacaso catering to a broader market. 🌴 Don't miss our engaging discussion on these pivotal shifts in real estate!
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