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John Burns survey finds 75% homebuilders buying down buyers' mortgage rates to make payments more affordable; such incentives encouraging more consumers to consider buying new homes versus existing homes, as resale market can’t compete with those offers

US existing-home sales fell 1.5% in December from November to seasonally adjusted annual rate of 4.02 million; inventory of unsold homes was 970,000, equal to 2.9 months of the monthly sales pace: NAR

Fortune lists home price predictions from 27 research firms, from most bullish to most bearish; Realtor.com expects median price of existing homes to rise 5.4% in 2023, and John Burns sees home prices falling 20%-22%, assuming mortgage rates stay about 6%

Moody's says US existing home sales have bottomed out; homes won't become more affordable until mortgage rates fall, housing prices decline 10% and incomes rise, which probably won't happen until late 2024 going into 2025

US existing-home sales fell 7.7% in November from October to seasonally adjusted annual rate of 4.09 million; inventory of unsold homes fell for fourth straight month to 1,140,000, equal to 3.3 months of the monthly sales pace: NAR

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