Housing Wire
JUNE 21, 2024
Both existing housing inventory and home prices have been rising together year over year, which might seem odd at first glance since existing home sales are trending near all-time lows. However, I can clear up any confusion on this topic. Let’s keep it simple: total active listings are still below 2019 levels nationally, and the days on market are under 30 days today.
Appraisal Buzz
JUNE 21, 2024
Existing-home sales fell somewhat in May, while the median sales price reached a new high, according to a new study from the National Association of REALTORS (NAR). In the four major U.S. regions, sales fell month-over-month in the South but were steady in the Northeast, Midwest and West. Sales increased in the Midwest but decreased in the Northeast, South, and West over the previous year.
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Housing Wire
JUNE 21, 2024
The Federal Housing Finance Agency (FHFA) on Friday announced that it has given conditional approval for Freddie Mac to begin purchasing closed-end second mortgages through a pilot program. The pilot program includes several limitations to the types of loans the government-sponsored enterprise will be allowed to purchase. The program is only for primary residences and the first mortgage must have a minimum seasoning period of 24 months.
Appraisal Buzz
JUNE 21, 2024
The Federal Housing Finance Agency (FHFA) has announced its conditional approval for Freddie Mac to engage in a limited pilot to purchase certain single-family closed-end second mortgages. This conditional approval follows FHFA’s first publication of a proposed new product by either Freddie Mac or Fannie Mae (the GSEs) for public comment under the new process mandated by the Prior Approval for Enterprise Products regulation, which became effective in April 2023.
Housing Wire
JUNE 21, 2024
Fannie Mae ’s Economic and Strategic Research (ESR) Group said on Friday that it expects a slower recovery of the U.S. housing market than previously forecast. That’s because volatility in inflation readings and resilience in nonfarm payroll growth may provide the Federal Reserve confidence to cut benchmark rates only once in 2024. “Unfortunately, we’re still not forecasting a ramp-up in housing activity, which will require some combination of continued household income growth, a further slow
Appraisal Buzz
JUNE 21, 2024
According to the Fannie Mae Economic and Strategic Research (ESR) Group’s June 2024 analysis , affordability restrictions continue to limit the amount of buyers wanting and able to make home purchases, despite an increase in for-sale home listings. As a result, the ESR Group reduced its total home sales prediction to 4.82 million in 2024, marking a moderate 1.3% annual rise vs the previously projected 2.8%.
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Appraisal Buzz
JUNE 21, 2024
A new study of luxury single-family rentals (SFRs) by Point2Homes.com has found that demand for single-family homes for rent is exploding, with the build-to-rent stock having nearly quadrupled compared to three years ago. According to a recent RentCafe analysis of Yardi Matrix data , in 2023, a total of 27,500 houses for rent were completed, representing a 75% year-over-year increase.
Housing Wire
JUNE 21, 2024
The future for West Penn MLS is a bit uncertain after Judge William Stickman denied its motion to stay the Moratis commission lawsuit (formerly known as the Spring Way suit ) on Thursday. West Penn MLS filed its motion to stay the case on Wednesday , noting that it has opted into the nationwide commission lawsuit settlement agreement reached by the National Association of Realtors (NAR).
Real Estate News
JUNE 21, 2024
The California Association of Realtors informed members that the DOJ expressed concern over new forms related to the NAR settlement and MLS practices.
Housing Wire
JUNE 21, 2024
Low levels of for-sale inventory, high mortgage rates, and record-high home prices continue to hamper existing-home sales. According to the May 2024 existing-home sales report from the National Association of Realtors (NAR), sales volume fell 2.8% year over year to an annualized rate of 4.11 million. That number also marked a decline of 0.7% from April.
Real Estate News
JUNE 21, 2024
The median sale price for existing homes hit a record $419,300 in May, NAR reported, but home sales were lackluster and new construction has cooled.
Housing Wire
JUNE 21, 2024
While major cities are often the bellwethers when it comes to home-price trends, a SmartAsset analysis of Zillow data released Thursday shows that some secondary and tertiary U.S. metro areas are leading the way for home-price appreciation. SmartAsset, a personal finance and fintech website, ranked the 100 largest U.S. metro areas based on home-sale price increases during the year ending in April 2024.
Real Estate News
JUNE 21, 2024
Can NAR’s optional rules still add up to anticompetitive behavior? Yes, the Department of Justice says in a brief filed June 20 in the case of REX vs. Zillow.
Housing Wire
JUNE 21, 2024
In survey after survey in which Americans are asked about their preferred living situations in retirement, recent data is clear — they want to age in place in their current homes and remain in the familiar environs of their house and community. But a closer look at aging in place by NextAvenue asserts that there could be unforeseen, long-term consequences to the concept.
Real Estate News
JUNE 21, 2024
Richard Gibbens will take on the top leadership role at Bluegrass Realtors and Imagine MLS; Dave Phillips, CEO of RRAR, announces his departure.
Housing Wire
JUNE 21, 2024
SERHANT. is bolstering its presence in New Jersey. The brokerage firm announced Friday that top-performing Bergen County -based team The Adamo Group is making move to SERHANT. from Coldwell Banker Realty. The team is led by Victoria and Attilio Adamo. It is based in Closter, New Jersey, but also serves clients in New York City. “The Adamo Group is beyond thrilled to join SERHANT., resonating deeply with their visionary values and mission.
Appraisal Buzz
JUNE 21, 2024
Existing-home sales decreased 0.7% in May compared with April to a seasonally adjusted annual rate of 4.11 million, according to the National Association of Realtors (NAR). Year-over-year, existing home sales were down 2.8%. The decrease in sales comes despite a 6.7% increase in inventory. As of the end of May there were roughly 1.28 million existing homes available for sale in the U.S.
Housing Wire
JUNE 21, 2024
The U.S. Department of Housing and Urban Development (HUD) on Friday announced a new round of disaster relief in the state of Hawaii that is targeted for the island of Kauai following severe storms, flooding and landslides that took place there in April. On June 17, President Joe Biden issued an executive order approving a disaster declaration in the state.
Appraisal Buzz
JUNE 21, 2024
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Housing Wire
JUNE 21, 2024
Real estate mailers aren’t dead — far from it. With so many agents focused on digital marketing, mailers can help you stand out from the crowd to attract new leads, increase brand awareness, generate more referrals, and ultimately close more deals. To get you started on the path to dominating your farm area with direct mail, I used my experience as an agent and coach to put together this guide.
Miller Samuel
JUNE 21, 2024
Now that two and a half years have passed since the early 2022 Fed pivot resulting in the steepest ascent of interest rates in fifty years, pent-up demand has been building. Homebuyers have been waiting for rates to come down – a sign of better things to come. At the same time, the rate cut conversation keeps pushing the first cut expectation backwards.
Housing Wire
JUNE 21, 2024
The Montana Board of Housing is aiming to remind the state’s seniors about a government-administered program that is specifically designed to help older adults access their home’s equity — and it should be very familiar to members of the reverse mortgage industry. Recently, officials with the state’s housing authority have been publishing new material related to the state’s Reverse Annuity Mortgage (RAM) program , which was passed by the Montana Legislature in 1989 and offers a state-subsidized
Inman
JUNE 21, 2024
The median sale price for an existing home in the U.S. has grown to a whopping $419,300 — the highest since NAR began tracking the metric — following 11-consecutive months of price gains.
Housing Wire
JUNE 21, 2024
Since making headlines for the first time roughly 18 months ago, right-to-list agreements — also known as Non-Title Recorded Agreements for Personal Service (NTRAPS) — have been banned in 30 states, according to an announcement from the American Land Title Association (ALTA). The title industry trade group, along with AARP, have spearheaded the effort to outlaw the agreements.
Inman
JUNE 21, 2024
It's up to you to advocate for a fiscally fit future for yourself, senior housing advisor Rachael Hite writes. Here are three women-run resources to help guide you.
BiggerPockets
JUNE 21, 2024
Is there a way to game Airbnb's algorithm?
Inman
JUNE 21, 2024
Software company Entrata acquired its second company in a year with the acquisition of the rental industry’s Colleen, which provides artificial intelligence-based tenant communications and leasing operation support.
BiggerPockets
JUNE 21, 2024
NYC has a bill on the table that could reshape its real estate industry forever.
Inman
JUNE 21, 2024
The California Association of Realtors postponed the release of 21 forms this week after receiving feedback from members — and an inquiry from the U.S. Department of Justice.
BiggerPockets
JUNE 21, 2024
Learn what to do when a tenant violates the lease. This guide covers common violations, step-by-step handling, and prevention strategies for landlords.
Inman
JUNE 21, 2024
Naperville, Illinois-based team RR Galaxy has joined Keller Williams, it was announced Friday. The 4-person team has closed more than $74 million in sales over the past 2 years, executives said.
BiggerPockets
JUNE 21, 2024
Don't fall for a fake guru. Here are red flags that should make you skeptical about spending thousands of dollars on real estate training.
Inman
JUNE 21, 2024
Fathom Holdings beefs up title coverage in three states with "strategic addition" to geographic footprint, acquiring nine-person title agency with offices in Utah, Colorado and Virginia.
Eyes on Housing
JUNE 21, 2024
Existing home sales fell for the third straight month in May due to lingering high mortgage rates and record-high prices, according to the National Association of Realtors (NAR). Low resale inventory and strong demand continued to drive up existing home prices, marking the eleventh consecutive month of year-over-year median sales price gains. However, rising inventory.
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