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In 2010, more than 23% of homes in America were underwater. Our new listing data for that time period shows there were between 250,000 and 400,000 new listings per week as many sellers with underwater mortgages were forced into a distressed market. Underwater mortgages are a proper barrier for sellers more so even than mortgage rates.
The monthly Realtors Confidence Index helps to dispel many of the myths and cut through the noise of what is currently happening in the market. The National Association of Realtors Research Group has produced the index since 2008, at a time of turmoil in the real estate market.
“Home sellers are buyers” — this is a phrase that I have been using in my economic work to explain the reality of the housing market recently. So, when home prices and mortgage rates rise so quickly, some sellers won’t list , which means they’re not buying either. Obviously, people don’t sell a home to be homeless.
From 2010 to 2020, middle-income households gained $2.1 trillion in housing wealth, according to a new study by the National Association of Realtors , released on Wednesday. “These escalating home values were no doubt beneficial to homeowners and home sellers,” Yun said in a statement. in 2010. .”
The National Association of Realtors (NAR) released a report on Friday that found 88% of all first-time homebuyers in the U.S. million in 2010. The NAR report also found that as a group, the share of first-time homebuyers dropped to a record low of 26% from 34% last year, and off the peak of 50% in 2010.
The monthly Realtors Confidence Index is an essential measure of what real estate professionals are seeing in their local markets and how the market is evolving on a monthly basis. The National Association of Realtors Research Group has produced the index since 2008, a time of turbulence in the real estate market.
Elevated mortgage rates and high home prices pushed sales of existing homes down again in October to the lowest monthly pace since August 2010. million, according to the N ational Association of Realtors. Existing-home sales dropped 4.1% in October from the prior month , reaching a seasonally adjusted annual rate of 3.79 All four U.S.
The big theme of my housing work since 2010 has been that the housing market would have its weakest recovery from 2008 to 2019 because we simply built too many homes versus the real demand curve, and monthly supply proves that. Then we had an 82% crash in new home sales, and the weakest new home sales recovery ever after 2010.
As the calendar has turned to May, and the Realtor Legislative Meetings have come to a close, it’s a good time to reflect on research that was released last month and throughout early 2022. Twenty-eight percent of the home buying market last month was all-cash buyers, and for every home that went under contract, sellers saw 4.8
It kind of started before the [ National Association of Realtors ] settlement went into effect, but commission compression is a real thing,” Brian Huskey, the broker-owner of Montana-based ERA American Real Estate , said. Traditionally we were seeing commissions here in the 5% to 6% range, but now it is more like 4.5%
The big theme of my housing work since 2010 has been that the housing market would have its weakest recovery from 2008 to 2019 because we simply built too many homes versus the real demand curve, and monthly supply proves that. Then we had an 82% crash in new home sales, and the weakest new home sales recovery ever after 2010.
Kevin Sears Installed as 2025 President of The National Association of REALTORS® November 7, 2024 – At the annual National Association of REALTORS® Conference Governance Meeting , held at the Boston Convention & Exhibition Center, Kevin Sears was installed as the 2025 President of The National Association of REALTORS®.
from 2010, per a recent U.S. Sellers know they can ask a lot for their homes because the demand is “the craziest it’s ever been,” said John Diaz, a broker with MyHomeGroup in Arizona. Over the past 10 years, Arizona has enjoyed the ninth-largest population increase in the past 10 years, up 11.8% Census report.
Knowing these trends and being able to discuss them with buyers and sellers will give Realtors a distinct advantage. Suggesting modern features to sellers to add to their homes before listing existing properties will also give agents additional power.
This is a byproduct of the qualified mortgage rule of 2010, which has been a game-changer not only for the housing market but for the overall U.S. But one positive reason for the low inventory is that homeowners have great financials and aren’t being forced to sell their homes out of stress. NAR: Total existing-home sales receded 4.3%
Up from 45% last year and a notable increase from 37% in 2021, the report also mentioned that this share of first-time homebuyers likely hasn’t been this high since 2010, when there was a first-time homebuyer tax credit. This approach is negotiated in the contract; it’s a seller concession to the buyer for a set amount.
Lamacchia Realty's Top Producing REALTORS for November 2024! has released its Top Producing REALTORS, for November 2024! This program recognizes the Top 10 REALTORS company-wide and the Top 3 or 5 REALTORS by office with the highest transaction numbers or sales for the month! Lamacchia Realty, Inc.
The National Association of Realtors (NAR) reported that existing home sales for April came in at 5.41 Since March of this year, housing demand has been falling more and more, but inventory is still below the 2010, 2013, 2016, and 2019 levels, which is a nightmare. The housing nightmare continues. million , down 3.4% from last year.
Sellers are happy that they sold their home for more money than they bought it for, and home buyers are happy you found them an asset that will increase in value. Unless they need to move, sellers will almost always be disappointed with the price you can sell their home for. It’s easy to show value when home prices are rising.
2024 was a very successful year for Kevin, as he served as the 2024 President of the National Association of REALTORS and was recently installed to continue his position in 2025. Sears Real Estate has been serving buyers and sellers since 1971, under the influential leadership of the late Paul Sears. Shaw Distinguished Service Award.
Lamacchia Realty's Top Producing REALTORS for February 2025! has released its Top Producing REALTORS for February 2025! This program recognizes the Top 10 REALTORS company-wide with the highest transaction numbers AND sales volume for the month! Most recently he ranked as the #1 REALTOR in Dalton, MA, for closed transactions.
Home buyers may finally be finding more inventory options this fall, but theyre still being cautious about entering the real estate market, the National Association of REALTORS reported Wednesday. million, this is the lowest sales activity for existing homes since October 2010. Read more from NARs latest housing report.
Cheryl Perry Wins Most Transactions and Highest Sales Volume in 2024 Fall River Office We are excited to announce that t he #1 REALTOR in the Fall River Office in 2024 is Cheryl Perry ! Cheryls achievements this year speak to her exceptional skill and dedication as a REALTOR.
HousingWire real estate reporter Jeff Andrews sat down with Serhant to talk about the show, how it changed his life and the brokerage, and what he sees coming in the industry following the commision settlement by the National Association of Realtors (NAR). I think our pitch to sellers is easy.
Building upon recent initiatives Due to the VA’s efforts, the number of veterans experiencing homelessness has fallen by nearly 5% since early 2020, and by more than 52% since 2010. Under previous VA policies, veterans using the home loan benefit were prohibited from compensating their professional representative directly.
has released its “Top Producing REALTORS®,” for September 2023! This program recognizes the Top 10 REALTORS® by company and the Top 3 or 5 REALTORS® by office with the highest transaction numbers or sales for the month! Lamacchia Realty, Inc. Most recently, Amy was named in the Boston Agent Magazine’s 2023 Who’s Who list !
has released its “Top Producing REALTORS®,” for February 2024! This program recognizes the Top 10 REALTORS® by company and the Top 3 or 5 REALTORS® by office with the highest transaction numbers or sales for the month! Lisa Gray is an experienced REALTOR® working out of the Salem, NH office and is licensed in MA, NH, and ME!
To help the most vulnerable population, Tara Roche, research manager for the Pew Charitable Trust , said that HAF will be available to those who are using alternative financing, such as land contracts (agreements directly between sellers and buyers) and loans secured by manufactured homes. “The situation is frustrating.
Visit Website Overview Since 2010, New England Real Estate Academy has been offering real estate classes and it was one of the first schools to be accredited to offer online training in 2016. According to Glassdoor.com , the estimated average salary for a Massachusetts Realtor is $154,301 annually. out of 5 stars Rating: 4.5
Lots of Good Reasons | Florida Realtors. In 2010, owners stayed for 8.7 years in 2019 – but well ahead of 2010’s reading of 8.7 A drop in sellers as owners stay in a current home longer, however, tightens the real estate markets. Why Aren’t Homeowners Selling? Lots of Good Reasons. Source: Why Aren’t Homeowners Selling?
Kara joined her family business, Foley Real Estate, in 2010 as a managing partner after a seven-year career in the investment banking industry. Kara will ensure the company’s culture and mission statement remains true and all staff and REALTORS® alike remain working smoothly and efficiently.
Jim’s daughter, Kara Foley , has been running the company since 2010 and played a large role in maintaining the company’s success. Jim Foley Founder of Foley Real Estate Jim was at the helm of the Foley brokerage until 2010 when his daughter Kara Foley stepped in as the Managing Partner and Real Estate Advisor.
If you’re representing the seller, how can you best exploit that feature of a home, or advise people on how to create areas for work or study if they’re lacking? Chris Lynch, founder and owner of Legacy Properties Sotheby’s International Realty , advises sellers to not let their hearts think for their heads in pricing their home.
“The recent development of lower mortgage rates coupled with increasing inventory is a powerful combination that will provide the environment for sales to move higher in future months,” Lawrence Yun, chief economist for the National Association of Realtors® said in September. months, the greatest since April 2010 (14.5
COVID-19 Impact on Buyers and Sellers These low loan rates are pushing buyers to risk virus exposure in search of better housing. This is good news for sellers who have suffered from a stagnate market during the first quarter of 2020. This was the lowest level since July, 2010 and is part of a three-month decline in sales.
COVID-19 Impact on Buyers and Sellers. This is good news for sellers who have suffered from a stagnate market during the first quarter of 2020. This was the lowest level since July, 2010 and is part of a three-month decline in sales. This was the lowest level since July, 2010 and is part of a three-month decline in sales.
Using drones for real estate photography is a topic that drew a lot of chatter in the early 2010’s as a hotly debated topic among real estate agents. Current photos and videos let appraisers, lenders, realtors and sellers / owners get a real-time birdseye view of what exactly is happening on and around the property.
To get a real price crash, we would need to see a surge of housing inventory and distressed sellers. The National Association of Realtors ‘ existing home sales report shows home sales dropped only 1.0% In 2010, when the new listings data was exploding, over 23% of homes in America were underwater. million in September.
Buyers and sellers tiptoed through caution. Prospective buyers and sellers watched this one out from the sidelines, leading to King County sales activity hitting lows not seen since 2010 at the heart of the housing crises. home sales – 3.79M on an annual basis through October – is at a low not seen since August 2010.
The market is spooking many potential buyers and sellers thanks to stubbornly high mortgage interest rates. Only buyers and sellers who must move are doing so. As the number of buyers with mortgage financing diminish, the ratio of all-cash purchasers has risen to 30%, according to the National Association of Realtors®.
The 2024 total will still end up being one of the lowest since the Great Recession of 2009-2010 when a little more than 20,000 homes were sold in King for the year. As a result, the median age of first-time buyers has climbed to 38 in 2024, up from 31 in 2014, according to the National Association of Realtors.
Annual sales across King County totaled 21,515 homes – down an incredible 24% from the year before and the fewest since 2010 (20,761). People are seeking to move on as they experience life-changing moments – if they can afford what sellers are seeking. It’s too soon in the year to determine how supply and demand will shake out.
The market favored sellers in the beginning of the year but shifted toward buyers with a burst of activity later in the year, and a rebound is expected in 2025. However, after two years of significant drops, including 2023’s record low since 2010 , 2024 saw a 2.9% increase in new listings.
The key to getting the best possible value for your money is understanding what’s happening in your local real estate market — whether you’re a buyer or a seller. What’s the Difference Between a Buyer’s and Seller’s Market? Buyer’s vs. seller’s markets are a matter of supply and demand.
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