Housing Wire
SEPTEMBER 21, 2023
Existing home prices are up 3.9% year over year, with demand near 21st-century lows. How is this possible? NAR ‘s existing home sales report on Thursday gives us insight into the why factor. The median existing-home price for all housing types in August was $407,100, an increase of 3.9% from August 2022 ($391,700). All four U.S. regions posted price increases.
Real Estate News
SEPTEMBER 5, 2023
The company and plaintiffs informed the judges that a preliminary settlement has been reached, ending two potentially damaging trials for Anywhere.
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Eyes on Housing
SEPTEMBER 15, 2023
Over the first seven months of 2023, the total number of single-family permits issued year-to-date (YTD) nationwide reached 527,158. On a year-over-year (YoY) basis, this is 18.4% below the July 2022 level of 645,877. Year-to-date ending in July, single-family permits declined in all four regions. The Northeast posted the lowest decline of 12.1%, while the West region reported the steepest.
Inman
SEPTEMBER 18, 2023
The deal resolves claims in both the Sitzer and Moehrl antitrust cases. The franchisor agreed to change its business practices, including "no longer forcing homesellers to pay buyer’s agents.
Realtor
SEPTEMBER 19, 2023
Getty Images Home appraisals are a piece of the selling process where you may have to let go of the reins. Lenders often require the use of their own, FHA-approved home appraiser. That means you get zero say in who’s determining the financial value of the home you’ve lived in, loved, and sunk your savings into. Here are some things sellers can do—straight from the home appraisers’ mouths—to navigate the process of home appraisals.
BiggerPockets
SEPTEMBER 1, 2023
No "Airbnbust" this year. The short-term rental market had a great summer, and demand doesn't look like it's going anywhere anytime soon. These markets had the best jumps this summer.
Property Appraisal Zone brings together the best content for appraisal professionals from the widest variety of industry thought leaders.
Real Estate News
SEPTEMBER 20, 2023
Forget the spring and summer rush — home shoppers will have better luck making a deal during the first week of October, according to Realtor.com.
Eyes on Housing
SEPTEMBER 14, 2023
According to the latest Producer Price Index report, the price level of inputs to residential construction less energy (i.e., building materials) ticked up 0.1% in August (not seasonally adjusted). Prices have also increased 0.1% over the past 12 months as year-over-year price growth has slowed from 4.9% in January 2023 and 14.7% in August 2022. The 12-month increase is the smallest.
Inman
SEPTEMBER 25, 2023
Across the real estate sector, multigenerational living has emerged as a beneficial solution for many families. As the older generation ages, they’re cared for by loved ones. Younger generations are supported by their parents in sharing the costs and responsibilities of homeownership, and grandparents are available to help raise grandchildren.
Realtor
SEPTEMBER 13, 2023
-Oxford-/iStock The home-buying process is a high-stakes thrill ride full of exhilarating ups and scary downs, but unquestionably one of the most deflating moments is when the appraisal comes in significantly lower than the accepted offer. This is, to use technical real estate lingo, “a bummer.” Either you feel as though you got the raw end of a deal by paying more than the property’s worth or, if you don’t have extra cash to hand over, the deal can crumble into dust.
BiggerPockets
SEPTEMBER 30, 2023
According to the latest reports, cities in these regions are under a lot of stress. In turn, costs are rising and cutting into real estate profits. Here's what you need to know.
Housing Wire
SEPTEMBER 27, 2023
After experiencing a temporary hiccup between July 2022 to January 2023, the U.S. housing market is back on track , stronger than ever, with a total estimated value of $52 trillion, according to a new analysis by Orphe Divounguy, a senior economist at Zillow Group. Over the past year, the value of the U.S. housing market has surged by more than $2.6 trillion.
Real Estate News
SEPTEMBER 26, 2023
Industry heavyweights — and former rivals — Spencer Rascoff and Glenn Kelman addressed some of the toughest issues facing real estate in a lively discussion.
Eyes on Housing
SEPTEMBER 12, 2023
The second quarter of 2023 release of the Z.1 Financial Accounts of the United States indicates that the market value of households’ real estate assets increased over the quarter. Low existing for-sale inventory helped to increase real estate value after falling for three consecutive quarters. The level of households’ real estate assets increased by $2.43 trillion from $42.07 trillion in.
Inman
SEPTEMBER 8, 2023
A July letter from Polsinelli, the outside counsel tapped to investigate misconduct at NAR's behest, found evidence of "creepy" and "disrespectful" behavior that, until now, had not been made public.
Mortgagebroker News
SEPTEMBER 7, 2023
'I think that deep inside, they know the likelihood of them raising again is relatively slim – but in their language they will not admit that'
BiggerPockets
SEPTEMBER 18, 2023
Nationwide, cities continue to impose new regulations on short-term rentals, effectively putting Airbnb hosts out of business in some areas. How can investors protect themselves?
Housing Wire
SEPTEMBER 29, 2023
Even with demand buoyed by a sparse housing inventory, growing financial challenges for buyers are forcing home sellers to cut prices to close deals, a new Redfin research report found. According to the brokerage, 6.5% of U.S. homes for sale posted a price cut during the four weeks ending September 24, up from 5.8% the month prior. In some markets, more than 50% of active listings have experienced a price cut, according to Altos Research.
Real Estate News
SEPTEMBER 1, 2023
Spencer Rascoff said home search portals may need to pivot in a world where buyers agents are no longer paid via the listing agent’s commission.
Eyes on Housing
SEPTEMBER 22, 2023
Nonfarm payroll employment increased in 33 states and the District of Columbia in August compared to the previous month, while 17 states lost jobs. According to the Bureau of Labor Statistics, nationwide total nonfarm payroll employment increased by 187,000 in August, following a gain of 157,000 jobs in July. On a month-over-month basis, employment data was strong in California, which.
Inman
SEPTEMBER 1, 2023
Support for the embattled CEO, who many expected to announce his early retirement as a result of a fast-moving harassment scandal, came late Thursday with a statement from new president Tracy Kasper.
National Association of Realtors
SEPTEMBER 13, 2023
In May 2023, NAR surveyed its members pertaining to data collectors in the appraisal process. This report contains the findings.
BiggerPockets
SEPTEMBER 11, 2023
A recent class action lawsuit filing alleges that this real estate mogul and popular influencer misled everyday investors about the potential returns they would receive. Where is this case going, and how much of a warning is this to other investors?
Housing Wire
SEPTEMBER 10, 2023
Last week we saw a noticeable decline in new listings and active inventory was barely positive. Does this mean housing inventory has begun its seasonal decline? Here are the weekly numbers: Weekly active listings rose by only 343 Mortgage rates rose from 7.08% to end the week at 7.22% Purchase apps fell 2 % week to week Weekly housing inventory At first glance, it seems we’re now seeing the seasonal active inventory decline since new listings data fell noticeably and active listings slowe
Real Estate News
SEPTEMBER 26, 2023
Prices in July topped last year’s high, but slowing demand due to elevated mortgage rates is expected to bring price declines and soften new home sales.
Eyes on Housing
SEPTEMBER 29, 2023
NAHB analysis of the Census Bureau’s quarterly state and local tax data shows that $132 billion in taxes were paid by property owners in the second quarter of 2023 (not seasonally adjusted).[1] In the four quarters ending Q2 2023, state and local governments collected $727 billion of property tax revenue—a 7.4% increase over Q2 2022. The year-over-year growth rate of.
Inman
SEPTEMBER 10, 2023
Although broker Troy Palmquist and DOORA Creative Director Janet Pozos know that brokers expect accountability and investment from their agents, the agents need the same thing from their leaders.
Mortgagebroker News
SEPTEMBER 18, 2023
The market is being weighed down by the ongoing shortfall in housing construction, Crown corporation says
BiggerPockets
SEPTEMBER 10, 2023
Some investors may benefit from rolling closing costs into their mortgage payments. We'll break down this strategy and explain if it makes sense for you.
Housing Wire
SEPTEMBER 26, 2023
After a boost in July, the sales pace of new homes slowed in August, according to data published on Wednesday by the U.S. Census Bureau and the Department of Housing and Urban Development ( HUD ). In August, the sales pace of new homes fell 8.7% compared to July , reaching a seasonally adjusted annual rate of 675,000. On a year-over-year basis, new home sales were up 5.8%.
Real Estate News
SEPTEMBER 6, 2023
A new survey from Zillow found that more than 80% of homebuyers evaluate climate and environmental risks when considering where to live.
Eyes on Housing
SEPTEMBER 26, 2023
Elevated mortgage rates and challenging affordability conditions pushed new home sales down to their weakest rate since March. Sales weakened in August with average mortgage rates above 7%. While some builders were able to offset that effect via mortgage rate buydowns, rates moved higher this month, suggesting the pace of new home sales will weaken further for September.
Inman
SEPTEMBER 5, 2023
Realtors are cancelling memberships, hounding local boards and organizing petition drives days after NAR resisted calls Thursday to censure Bob Goldberg for his handling of misconduct claims.
Mortgagebroker News
SEPTEMBER 8, 2023
July CPI increase 'just a taste of things to come,' suggests chief economist
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