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DID YOU KNOW?

Economists expect 5.78 million homes to change hands this year, representing a 16.2% decline from 2021, a record-smashing year — a steeper drop than the 15.6% pullback forecast in July. Comparing anything to 2021 was bound to be disappointing.  Here are home sales totals by year for the past few years...compared to the number of NAR agents:
2014: 4.94 million.  (1.1 million NAR members)
2015:  5.25 million. 1.17 million NAR members)
2016. 5.45 million.  (1.23 million NAR members)
2017:  5.51 million. (1.31 million NAR members)
2018: 5.34 million.   (1.36 million NAR members)
2019:  5.34 million. (1.4 million NAR members)
2020:  5.64 million. (1.46 million NAR members)
2021: 6.12 million. (1.56 million NAR members)  (CNBC + COMPASS intel.)
 
Marlene Steiner of COMPASS Manhattan was recently diagnosed with late-stage ovarian cancer. Doug Heddings has organized a GoFundMe fundraiser for her.  Marlene is a single mom of two kids and also the sole caregiver for her own 96 year-old Mother, a Holocaust Survivor. Marlene recently relocated her Mom back to New York to care for her. Now, those plans are impacted by Marlene’s own health.  Yesterday, Marlene had to go in for surgery to remove a mass that is preventing her from eating or using the bathroom. 
 
This year, 420,000 apartments are expected to be delivered nationwide. It would be the 2nd year in a row that the industry tops 400,000 units, a mark last reached in 1972. New York, Miami, Austin, Phoenix and Seattle will see the biggest gains, all areas that experienced massive rental price escalations in the past 12 months. Hopefully this eases pricing escalations to more realistic levels. Hopefully it provides more affordable housing options for lower-wage workers......there can be no solution for lower-wage job shortages without affordable homes for these people to live in. (CRAINS)
 
72% of home buyers say they have regrets about their home purchases, according to a recent survey. 30% said they spent too much money. 30% said their purchase decision was rushed and 26% indicated they bought too quickly. 31% of buyers said they paid over the asking price. 36% made an offer on a home without seeing it in person first. 80% of buyers said they made more than one offer, with 41% making 5 offers or more.  (CNBC)

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