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
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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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
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
It was a big week on the cybersecurity front as remote online notarization (RON) firm Proof —formerly Notarize — and digital closing platform Qualia each launched new security features aimed at fraud prevention. Proof’s new security feature is known as Identify, which the firm describes as a no-code solution to overcome falsified records, forged signatures and identity theft. “Proof’s Identify weeds out fraud well before the close of a transaction, and it eliminates friction for any
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.
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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
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
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
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.
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
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.
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
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.
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.
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 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.
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
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.
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.
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.
Appraisal Today
JUNE 21, 2024
How to Identify a Complex Residential Property By Dan Bradley Excerpts: A complex one-to-four family residential property is defined as a property that meets at least one of the following criteria: The property to be appraised is atypical The form of ownership is atypical The market conditions are atypical Some of the key physical features that can make an appraisal assignment complex include: Size (significantly larger or smaller than typical for market) Floor plan (there may be functi
Inman
JUNE 21, 2024
The deal will put DO AudioTour tools into the hands of more than 500,000 subscribers, allowing agents to deliver market insights and listings to consumers, executives announced Thursday.
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
Industry leaders see the lawsuits as one of the top recruiting challenges of 2024, according to Intel survey results. But the brokers who target and elevate middle-tier agents have an opportunity.
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
WomanUP!, a women's leadership initiative of the California Association of Realtors, was on a whole other level this year, writes speaker and attendee Bernice Ross. Here's why.
Eppraisal
JUNE 21, 2024
The specter of moisture damage should be a top concern, especially when selling a house, for it can negatively affect home values. Water in vapor form can be as destructive as liquid to building materials — it can cause rust in iron and its alloys and wood rot. Although not acutely damaging, it can compromise your house’s structural integrity by going undetected for a long time.
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.
Mortgagebroker News
JUNE 21, 2024
Brokers have crucial opportunity to guide clients through turbulence, says top mortgage exec
Inman
JUNE 21, 2024
The 15,000-square-foot home, which sits on 9.5 acres, was not publicly listed for sale. The deal surpasses a nearly $200 million purchase in Malibu by Beyoncé and Jay-Z last year.
BiggerPockets
JUNE 21, 2024
NYC has a bill on the table that could reshape its real estate industry forever.
Inman
JUNE 21, 2024
Indie broker Max Fitzgerald built this app to be the top layer of brokerage tech stack, enabling better organization, access and understanding of its most-used tools.
Mortgagebroker News
JUNE 21, 2024
Project prioritizes Sustainable, Affordable, Accessible, and Culturally Appropriate housing
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