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Potential US existing-home sales in August rose 2.1% month-over-month to 5.61 million seasonally adjusted annualized rate; market potential for existing-home sales decreased 12.9% year-over-year: First American

Pantheon Macro expects US housing prices to fall as much as 20% from peak by mid-2023; home sales expected to drop by another 10% within next two months, as sales lag mortgage applications, which continue to fall and point to further significant declines

John Burns Consulting: Speedy escape from housing market slump unlikely, given 85% of outstanding mortgages are locked in at sub-5% rates, with 24% at sub-3%; good luck persuading someone to relinquish 3%-4% mortgage rate when inflation is at 40-year high

Moody's expects year-over-year US home price growth to go from 20% to 0% by September 2023, says housing market in correction, which could boost home inventory as sales volume declines; out of top 400 US housing markets, 210 are 'significantly overvalued'

US existing-home sales fell 0.4% in August from July to seasonally adjusted annual rate of 4.80 million; inventory of unsold homes decreased 1.5% from July to 1,280,000, equal to 3.2 months of the monthly sales pace: NAR

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