6 Reasons Why Compass CEO Robert Reffkin Believes Q4 of 2022 was the Bottom of the Recent Real Estate Market Cycle

by Jen Holden

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

- Compass CEO Robert Reffkin, CNBC

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

 
25% increase in weekly mortgage applications. 
 
Mortgage rates continue to move down to a 4-month low.
 
Increase in buyer interest, open house traffic, and offers.
 
In the last quarter of 2022, 42% of sellers were giving concessions to buyers at the closing table, a 10-year high.
 
Home builder sentiment improved for the first time in 1 year.
 
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.

Have questions about market forecasts and trends, or anything else real estate-related? Don't hesitate to reach out.

Jen Holden
 
Realtor®
M: 443.803.7620
O: 410.429.7425
jen.holden@compass.com
www.movewithjhg.com

Let’s discuss how I can help you achieve your real estate goals with the power of Compass.

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Office: 410-429-7425

Compass Real Estate is a licensed real estate broker. All material is intended for informational purposes only and is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. No statement is made as to the accuracy of any description or measurements (including square footage). This is not intended to solicit property already listed. No financial or legal advice provided. Equal Housing Opportunity. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions.

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