Existing-Home Sales Slid 1.0% Nationally in December
National Association of REALTORS® Key Highlights Existing-home sales retreated in December, according to the National Association of REALTORS®. Among the four major U.S. regions, sales slipped in the Midwest and South, rose in the West and were unchanged in the Northeast. All four regions experienced year-over-year sales decreases. On an annual basis, existing-home sales (4.09 […]
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Pending Home Sales Fell 1.5% Nationally in October
National Association of REALTORS® Pending home sales dropped 1.5% in October, according to the National Association of REALTORS®. The Northeast posted a monthly gain in transactions while the Midwest, South and West all recorded losses. All four U.S. regions noted year-over-year declines in transactions. The Pending Home Sales Index (PHSI)* – a forward-looking indicator of home […]
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NAR Chief Economist Says Commercial Real Estate Will Revitalize, Calls on Federal Reserve to Consider Cutting Interest Rates
National Association of REALTORS® Commercial property rates are expected to stabilize – aside from office space – and commercial real estate will revitalize, according to NAR Chief Economist Lawrence Yun. Yun presented yesterday at the Commercial Economic Issues and Trends Forum at 2023 NAR NXT, The Realtor® Experience, in Anaheim, California, to discuss economic trends and […]
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Almost 60% of Metro Areas Posted Home Price Gains in the Second Quarter of 2023
National Association of REALTORS® Key Highlights Almost 60% of metro markets (128 out of 221) registered home price gains in the second quarter of 2023 as 30-year fixed mortgage rates oscillated between 6.28% and 6.71%, according to the National Association of REALTORS®’ latest quarterly report. Five percent of the 221 tracked metro areas registered double-digit price […]
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US Housing Market Needs More Than 300,000 Affordable Homes for Middle-Income Buyers
National Association of REALTORS® Key Highlights The U.S. housing market is short more than 300,000 affordable homes for middle-income buyers, according to a new analysis from the National Association of Realtors® and Realtor.com®. The country’s persistent housing inventory crunch impacts middle-income buyers more than any other income bracket. NAR and Realtor.com®’s housing affordability and supply report examines […]
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President Niemann: Enjoy the Ride
By Kyle Niemann, 2023 Heartland MLS President “Owning a classic Mustang is like owning a piece of the American dream.” —Unknown A few years ago I got the opportunity to become the owner of a classic 1965 Mustang that I named Scarlett because cool cars need fun names, right!? If you have ever owned a […]
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Middle-Income Homeowners in Kansas City Gained More Than $96,000 in Wealth Over the Past Decade from Home Appreciation
New data from the National Association of REALTORS® reveal middle-income homeowners in Kansas City accumulated a median of $96,160 in wealth as their homes appreciated over the last 10 years. The data, which was featured prominently in NAR’s new report, Wealth Gains by Income and Racial/Ethnic Group, speaks to the value agents and REALTORS® bring […]
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Recharge Speaker Spotlight: Selma Hepp
With many questions emerging about the future of the housing market, real estate professionals can hear predictions and an analysis of market trends at this year’s Recharge Conference & Expo on April 6 at the Overland Park Convention Center. CoreLogic’s Chief Economist, Selma Hepp, PhD, will share her economic outlook during the event. “While mortgage […]
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More Americans Own Their Homes, but Black-White Homeownership Rate Gap is Biggest in a Decade, NAR Report Finds
While the U.S. homeownership rate increased to 65.5% in 2021, the rate among Black Americans lags significantly (44%), has only increased 0.4% in the last 10 years and is nearly 29 percentage points less than White Americans (72.7%), representing the largest Black-White homeownership rate gap in a decade.
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Economist: Mortgage Rates Will Dip Below 6% Soon
After doubling from a year ago, rates likely will experience less volatility in 2023, says NAR Director of Forecasting Nadia Evangelou.
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