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Existing-home sales have nowhere to go but up in 2024? 

Housing Wire

million, according to the N ational Association of Realtors. Multiple offers, however, are still occurring, especially on starter and mid-priced homes, even as price concessions are happening in the upper end of the market.” Together, the two may suggest that there really is nowhere to go but up in 2024,” she said. “In

Inventory 395
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Pending home sales surged in December: NAR

Housing Wire

month over month in December, according to the newest data from the National Association of Realtors (NAR). The housing market is off to a good start this year, as consumers benefit from falling mortgage rates and stable home prices,” NAR chief economist Lawrence Yun said in a statement. increase between 2024 and 2025 to a pace of 5.35

Contracts 457
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Compass CEO Reffkin believes agents will still be valued in a post-settlement world

Housing Wire

In down markets, the best agents and the best brokerages gain market share,” Reffkin, the CEO of Compass, told investors and analysts during his firms first-quarter 2024 earnings call on Wednesday evening. “We In addition to Compass’ market share gains, the firm also recorded a 10% annual bump in revenue to $1.05

Agents 358
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Days on market grow despite low inventory for existing homes

Housing Wire

The National Association of Realtors (NAR) reported today on two trends in existing home sales that we have seen for many months now: sales are declining while total inventory data has fallen directly for the three straight months. The Federal Reserve wanted to see the bidding wars end and the days on the market grow.

Inventory 471
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Pending home sales recede in January: NAR

Housing Wire

month over month in January, according to the newest data from the National Association of Realtors (NAR). Meanwhile, new home sales , which are also a measure of contract signings, reached a seasonally adjusted annual rate of 661,000 in January, up 1.5% Pending home sales dropped 4.9% in January, down from 77.3 in December.

Contracts 395
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Why are existing home prices rising when sales are still so low?

Housing Wire

This is a byproduct of the qualified mortgage rule of 2010, which has been a game-changer not only for the housing market but for the overall U.S. However, that hasn’t been the case so far in 2024. million active listings per the last report, we have 526,000 per our last Housing Market Tracker article. million in March.

Inventory 486
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“Greetings from Missouri!” Millions are finding commission lawsuit postcards in the mail. Agents say it’s an opportunity

Housing Wire

The notifications were approved by Judge Stephen Bough, who is overseeing the Sitzer/Burnett suit, on January 11, 2024, and the usage of settlement fund to pay for the distribution of the notifications was approved on Feb. If recipients wish to opt out or object they must do so by April 13, 2024. she asked. “It

Agents 400