Four in Five Metro Areas Notched Double-Digit Price Gains in Second Quarter of 2022
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
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
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
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
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
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
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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KCRAR Members to Be Featured Speakers at National Association of REALTORS® Conference
Kansas City REALTOR® Stacey Johnson-Cosby and Industry Partner Tracey “The Safety Lady” Hawkins have been selected as featured speakers at the National Association of REALTORS® (NAR) Annual Conference. The conference will take place in Orlando, Fla. on Nov. 11-13, where REALTORS® from across the country will gather to hear from expert speakers, participate in national […]
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NAR Statement on President Biden’s Housing Supply Plan
National Association of REALTORS® National Association of Realtors® President Leslie Rouda Smith issued the following statement Monday regarding President Joe Biden’s plan to address the housing supply shortage: “Last year, a landmark research report commissioned by NAR recognized a shortage of 5.5 million homes in the U.S.—a gap so large it would take more than a decade to dig […]
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NAR to Host Tax Webinar for REALTORS® this Month
The National Association of REALTORS® Center for REALTOR® Financial Wellness will be offering a webinar on May 25 covering estimated taxes. This webinar is targeted to seasoned agents and will be presented by Heather C. Liston, Certified Financial Planner®. During the session, Liston will discuss what agents need to know to feel confident that they […]
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