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Migration

Gen Z Migrated the Most in 2023

Only 11% of Millennials moved during the 2023 calendar year, as Gen Z changed locations more than every other generation by a wide margin according to a new year-end report.

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Home Sales Retreat YoY

NAR Chief Economist Lawrence Yun said, "The latest weakness in existing home sales still reflects the buyer bidding process in most of October, when mortgage rates were at a two-decade high before the actual closings in November.”

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Pending Home Sales Surge, But Closed Sales Lag Behind

In November, new listings jumped to their highest level since October 2022, while home prices also posted its biggest increase since the same time last year. Pending home sales also continued to rise, but many home purchases fell through at a record rate as some homebuyers got cold feet, according to a new Redfin report.

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Rent Prices Continue Their Decline

The median asking rent was down from last month, according to Realtor.com's November 2023 Rental Report, with rental supply outpacing demand in the West and South, causing prices to cool.

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Home Flipper Investment Returns Rebound

Profits and profit margins for home flippers recovered in Q3 2023, with a new report revealing that investors were able to benefit from shifts in prices between the time of purchase and the point at which they sold them.

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