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Minority homeownership gains ground, but disparities persist: NAR

Housing Wire

million homeowners added between 2012 and 2022. According to a new report from the National Association of Realtors (NAR) titled “A Snapshot of Race and Home Buying in America,” Asian and Hispanic Americans achieved historic heights in homeownership rates in 2022 of 63.3% in 2012 to 65.2% and 51.1%, respectively.

Buyers 392
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How one lender is innovating to make affordable housing more accessible

Housing Wire

To the buyer of an $800,000 home putting down 20%, the mortgage savings would be roughly $500. If buyers try to time their home purchase to the return of record-low rates and the historically low rates don’t return, their wait could prove costly. Since 2012, the average rate has been 7.7%. million in 20 years.* 1 non-QM lender?

Lending 340
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Commission lawsuit: HomeServices files motion for judgment as a matter of law

Housing Wire

KANSAS CITY, Missouri — The second week of the Sitzer/Burnett class-action buyer broker commission antitrust lawsuit kicked off with a bang. In the motion, HomeServices claimed that no evidence has been presented to show they conspired with the National Association of Realtors (NAR) and other brokerages on rules for commissions.

Law 410
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Daren Blomquist’s 2023 housing outlook

Housing Wire

Buyer behavior on the Auction.com platform provides one of the best barometers of the retail housing market because the success and livelihood of these buyers depend heavily on them accurately anticipating what the retail market will look like in the next six to 12 months. percent, according to ATTOM Data Solutions.

Retail 434
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Are you prepping for worst-case commission lawsuit outcomes?

Housing Wire

With the scrutiny of The Department of Justice and the Federal Trade Commission and multiple lawsuits concerning how buyers’ brokers get paid, many brokers say it feels like an all-out war on the real estate industry. billion in commissions they paid to buyers’ agents in the past eight years.

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Gary Keller, Bob Goldberg, Gino Blefari depositions on commissions shared with the jury

Housing Wire

The second day of the trial for the Sitzer/Burnett bombshell class action buyer broker commission class action lawsuit included plenty of insights into how the plaintiffs are approaching what is expected to be a battle royal. When you reduce the commission, you reduce the incentive for that agent to bring a buyer to your house.

Agents 414
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Home prices soared in March amid record demand

Housing Wire

Homes sold in March were on the market for 21 days, per the report, the shortest period between listing and sale since 2012. A National Association of Realtors’ report from 2020’s end found the highest volume of home sales since 2006. Forty-six percent of homes sold within a week after the hitting the market.

Inventory 433