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

The Sarsen Team  |  January 24, 2023

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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The Sarsen Team

(203) 253-0476

200 Greenwich Ave 3rd Floor Greenwich, CT 06830

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By providing your contact information to The Sarsen Team, your personal information will be processed in accordance with The Sarsen Team's Privacy Policy. By checking the box(es) below, you expressly consent to receive marketing or promotional real estate communication from The Sarsen Team in the manner selected by you. For SMS text messages, message frequency varies. Message and data rates may apply. Consent is not a condition of purchase of any goods or services. You may opt out of receiving further communications from The Sarsen Team at any time. To opt out of receiving SMS text messages, reply STOP to unsubscribe. SMS text messaging is subject to our Terms of Use.

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The Sarsen Team

(203) 253-0476

200 Greenwich Ave 3rd Floor Greenwich, CT 06830