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6 Reasons Q4 '22 Was the Bottom


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6 Reasons Q4 '22 Was the Bottom
Written By: Linda Nelson ~ 1/26/2023

"For the first time in 10 months, all the statistics I look at are trending positively."

Robert Reffkin - Compass CEO - Watch CNBC segment here

The 6 reasons why Compass CEO Robert Reffkin believes Q4 of 2022 was the bottom of the recent real estate market cycle

  1.  25% increase in weekly mortgage applications.

  2. Mortgage rates continue to move down to a 4-month low.

  3. Increase in buyer interest, open house traffic, and offers.

  4. In the last quarter of 2022, 42% of sellers were giving concessions to buyers at the closing table, a 10-year high.

  5. Home builder sentiment improved for the first time in 1 year.

  6. Pending closings were down 30+% at points in the fall but over the last few weeks, we have seen pending listings in most of our markets nearly flat year over year.

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