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Redfin Reports Asking Prices Come Down from All-Time High

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A record-high share of home sellers are dropping their prices after this month’s historic mortgage-rate hike put a damper on homebuyer activity More and more, home sellers are ceding to the mounting pressure on affordability posed by this month’s rapid mortgage-rate hike, according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage. The median asking price of newly-listed homes for sale is down 1.5% from the all-time high it

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WORD OF THE DAY: Pleonasm

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[PLEE-ə-naz-əm] Part of speech: noun Origin: Greek, mid-16th century Definition: The use of more words than are necessary to convey meaning (e.g. see with one’s eyes), either as a fault of style or for emphasis. Examples of Pleonasm in a sentence “I enjoyed the book despite the author’s tendency toward pleonasm.” “Karen edited her papers carefully to cut out all pleonasm.” About Pleonasm Pleonasm originated in Greek by way of Latin — specifically from the

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RISING PRICES AND MORTGAGE RATES MAKE HOMEOWNERSHIP UNAFFORDABLE ACROSS MOST OF THE U.S.

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Nearly One-Third of Average Wages Required for Major Home-Ownership Expenses During Second Quarter of 2022; Portion of Wages Consumed by Home Ownership Rises at Fastest Pace This Century; Historic Affordability Plummets to 15-Year Low as Median Home Price Hits $349,000 and Mortgage Rates Top 5 percent ATTOM, a leading curator of real estate data nationwide for land and property data, released its second-quarter 2022 U.S. Home Affordability Report, showing that median-priced single-family

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S&P CORELOGIC CASE-SHILLER INDEX REPORTS ANNUAL HOME PRICE GAIN OF 20.4%

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S&P Dow Jones Indices (S&P DJI) released the latest results for the S&P CoreLogic Case-Shiller Indices, the leading measure of U.S. home prices. Data released for April 2022 show that home prices continue to increase across the U.S. More than 27 years of history are available for the data series and can be accessed in full by going to https://www.spglobal.com/spdji/en/index-family/indicators/sp-corelogic-case-shiller/. YEAR-OVER-YEAR The S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index, covering all

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Redfin Reports Demand For Vacation Homes Is Now Below Pre-Pandemic Levels

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High home prices and mortgage rates, along with economic uncertainty and an increase in second-home loan fees, have put an end to the pandemic-driven vacation-home boom Demand for vacation homes has fallen below the pre-pandemic baseline for the first time in two years, with mortgage-rate locks for second homes down 4% from before the pandemic in May, according to a new report from Redfin (www.redfin.com), the technology-powered real estate brokerage. That’s down

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WORD OF THE DAY: Housewright

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[HAUS-rite] Part of speech: Noun Origin: North America, mid-16th century Definition: A builder of houses, especially those constructed largely of timber; a house carpenter. Examples of Housewright in a sentence “After working with Habitat for Humanity, Rachel felt like a bonafide housewright.” “With Lincoln Logs, anyone can be a housewright in the comfort of their own home.” About Housewright Housewright developed as an American word in the 16th century through the combination of the words

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