Existing-Home Sales Slipped 0.4% Nationally in August

September 22, 2022 in Community

National Association of REALTORS® Key Highlights Existing-home sales decreased for the seventh straight month to a seasonally adjusted annual rate of 4.80 million. Sales tailed off 0.4% from July and 19.9% from the previous year. The median existing-home sales price rose 7.7% from one year ago to $389,500. After five successive monthly increases, the inventory […]

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Adding Hope to the Grocery List: Kansas City REALTOR® Named Finalist for National Good Neighbor Award

September 1, 2022 in Community

By Graham Wood, National Association of REALTORS® Cleaning houses for a living isn’t always steady work for Kansas City, Mo., native Kelly Lange. When her clients need to tighten their budgets, Lange’s services are often the first item they cut. So, Lange, 48, sometimes finds herself with little to no work for significant periods of […]

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Pending Home Sales Slipped 1.0% in July

August 25, 2022 in Community

National Association of REALTORS® Pending home sales dropped slightly by 1.0% from June. It was the second straight monthly decline and the eighth in the last nine months. Pending sales fell in three of four major regions, with the West posting a small increase. Compared to the prior year, contract signings declined by double digits […]

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Four in Five Metro Areas Notched Double-Digit Price Gains in Second Quarter of 2022

August 11, 2022 in Community

National Association of REALTORS® Key highlights Eighty percent of metro markets – 148 of 185 – saw double-digit annual price appreciation in median single-family existing-home sales prices (70% in the previous quarter). The national median single-family existing-home price rose 14.2% annually to $413,500, surpassing $400,000 for the first time. Housing affordability significantly declined as the […]

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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 […]

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

July 28, 2022 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, […]

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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 […]

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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 […]

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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 […]

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NAR Applauds FHFA Equity Plan for GSEs

June 9, 2022 in Government Affairs

National Association of REALTORS® The Federal Housing Finance Agency (FHFA) released finalized equity plans Wednesday for Fannie Mae and Freddie Mac. According to the FHFA, the plans are intended to “address barriers experienced by renters, aspiring homeowners, and current homeowners before, during, and after getting a mortgage” and include actions to address financial education, access, […]

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