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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5 Trends That Defined the 2022 Real Estate Market
Housing was on a roller coaster this year, going from a homebuying frenzy to a standstill. These market dynamics will carry into 2023.
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President Pierce: A Time of Opportunity
By Michael Pierce, 2022 KCRAR President With lower home sales, higher interest rates, and rising inflation, it is easy to fall into the mindset that your business growth will be an inevitable victim of circumstance. In reality, this is a time of great opportunity for business growth. There are no circumstances that can hinder your growth as a professional […]
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NAR Finds Share of First-Time Home Buyers Smaller, Older Than Ever Before
National Association of REALTORS® Key Highlights At just 26%, the share of first-time buyers was the lowest since NAR began tracking the data. The typical first-time buyer was 36 years old – an all-time high. The median distance between the home that recent buyers purchased and the home from which they moved was 50 miles […]
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