The Truth About the NAR Settlement Agreement
From REALTOR® Magazine The national conversation around real estate commissions reached a crescendo since the National Association of REALTORS® announced a settlement agreement that would resolve litigation brought on behalf of home sellers related to broker commissions. Brokers and agents have their own questions about what comes next for their businesses, while at the same […]
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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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Happy Halloween? Mortgage Rates Average 6.66%
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
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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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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Contract Signings Hit Slowest Pace in Nearly a Decade
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
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
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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