Yun: Possible Economic Downturn Likely to Be Mild

August 5, 2022 in Community

By Catherine Mesick, REALTOR® Magazine The country isn’t officially in a recession yet, despite two consecutive quarters of national contraction of the gross domestic product, a commonly cited indicator of an economic downturn, says Lawrence Yun, chief economist for the National Association of REALTORS®. And several healthy economic trends, including a robust job market, coupled […]

Full Story

President Pierce: Growing from Change

July 28, 2022 in Guest Columns

Michael Pierce, 2022 KCRAR President Real estate professionals are pros at adapting. In our careers, many of us have seen the lows of a housing crisis to the fast-paced low inventory market we’re currently experiencing, and everything in between. What we gain from all these difficult times in the market is experience and perspective. In […]

Full Story

2nd Historic Fed Rate Hike Unlikely to ‘Further Damage’ Mortgage Borrowers

in Community

Melissa Dittmann Tracey, REALTOR® Magazine With skyrocketing inflation and mounting recession fears, the Federal Reserve made another aggressive move Wednesday, raising its benchmark rate by three-quarters of a percentage point for the second time this year to try and tame the economy. However, higher mortgage rates may not necessarily be on the horizon as a result, […]

Full Story

NAR Chief Economist Addresses Senate Banking on State of Housing in America

July 21, 2022 in Government Affairs

National Association of REALTORS® Lawrence Yun, chief economist for the National Association of Realtors®, today told the U.S. Senate Committee on Banking, Housing, and Urban Affairs that he does not foresee a nationwide decline in home prices despite indications that price growth is set to slow. Yun testified that the potential for weaker sales should […]

Full Story

Nearly Three Out of Five REALTORS® Say Limited Inventory Prevented Clients from Buying Homes in 2021

July 14, 2022 in KCRAR

National Association of REALTORS® Key Highlights NAR membership grew to 1.56 million at the end of 2021, up from 1.48 million at the end of 2020. Equal to one year ago, nearly four out of five REALTORS® – 79% – were certain they will remain in the real estate industry for at least two more […]

Full Story

Pending Home Sales Edge Higher 0.7% in May

July 7, 2022 in KCRAR

National Association of REALTORS® Key Highlights Pending home sales broke a six-month skid with a slight rise of 0.7% from April. Pending sales in the Northeast accelerated 15.4% in May, the largest monthly increase among the four major U.S. regions. Compared to a year ago, three out of four regions – Northeast, South, and West […]

Full Story

Home Sales Retreat to Pre-Pandemic Levels

June 23, 2022 in KCRAR

By Melissa Dittman Tracey, REALTOR® Magazine Home sales are falling from their pandemic-fueled highs as home buyers tighten up their budgets. “Home sales have essentially returned to the levels seen in 2019—prior to the pandemic—after two years of gangbuster performance,” says Lawrence Yun, chief economist for the National Association of REALTORS®. Movement in both single-family […]

Full Story

President Goering: The Impact of What We Do

in Guest Columns

By Alex Goering, 2022 Heartland MLS President As REALTORS®, we’ve all had those conversations with people who don’t really understand what we do. They assume that we only look at perfectly pristine and Instagram-ready homes. They figure we binge Selling Sunset episodes to stay inspired and educated. We obviously all make millions of dollars, and […]

Full Story

Contract Signings Hit Slowest Pace in Nearly a Decade

June 2, 2022 in KCRAR

REALTOR® Magazine The housing market is slowing: Pending home sales fell 3.9% in April, marking the sixth consecutive month for declines and the slowest pace in nearly 10 years. NAR’s Pending Home Sales Index—a forward-looking indicator of home sales based on contract signings—was down 9.1% in April compared to a year earlier. Lawrence Yun, NAR’s […]

Full Story

Low Inventory vs. High Demand: A Look at the Housing Data in the Kansas City Region

May 12, 2022 in Community

With many homes on the market in Kansas City receiving multiples offers from potential buyers and often receiving more than asking price, it’s been clear that the region is seeing a shortage in housing inventory, as confirmed by Heartland MLS data. Those in the market for a home might draw the conclusion that this shortage […]

Full Story