Happy Halloween? Mortgage Rates Average 6.66%

October 7, 2022 in Community

By Melissa Dittmann Tracey, REALTOR® Magazine Despite a slight decrease this week in mortgage rates, the average for the 30-year fixed-rate loan remains more than double what it was a year ago, adding hundreds of dollars per month to financing costs for home buyers. This is prompting more buyers to retreat from the market: Mortgage […]

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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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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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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 […]

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Avoid Fair Housing Violations in Advertising

April 7, 2022 in KCRAR

Real estate professionals are legally obligated to uphold fair housing laws, and the language and images you use in your advertising needs to be vetted carefully. REALTORS® also have an obligation to do so under Article 10 of the Code of Ethics. “Advertisements should never indicate a preference or limitation based on a protected class, […]

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Report Shows ‘Double Trouble’ for Housing

February 10, 2022 in KCRAR

Record-high home prices and record-low inventories, a combination labeled “double trouble” by analysts, are growing roadblocks for many Americans to achieve homeownership, particularly for Black Americans, according to a new analysis from the National Association of REALTORS® and realtor.com®. The newly released report, “The Double Trouble of the Housing Market,” examines the impacts of rapidly rising […]

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2022 Economic Outlook: Take the Good With the Bad

January 20, 2022 in Community

by Lawrence Yun, Chief Economist, National Association of REALTORS® Key Takeaways: Mortgage rate increases will hamper housing affordability in 2022. First-time buyers will need your expertise to get out from under annual rent increases. Current homeowners may find themselves ‘mishoused’ as a result of the pandemic and seek out new lifestyle choices. Commercial real estate […]

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NAR to Congress: Keep Housing in Infrastructure Bill

October 21, 2021 in Government Affairs

REALTOR® Magazine Leaders from the National Association of REALTORS® and other housing groups went to the U.S. Capitol on Wednesday to urge lawmakers to preserve the affordable housing provisions in the infrastructure bill Congress is debating. Lawmakers are whittling down the package—which invests in various programs such as health care, paid family leave, affordable housing, […]

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4 ‘Danger Zones’ in Your Daily Work Routine

September 17, 2021 in KCRAR

by Catherine Mesick, REALTOR® Magazine Establishing safety protocols on the job is one of the best ways to protect your personal safety, especially as 14% of REALTORS® say they’ve feared for their physical well-being or the security of their personal information at work, according to the National Association of REALTORS®’ 2021 Member Safety Report. “Crimes against real […]

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