The Department of Justice must close its reopened antitrust investigation into the National Association of Realtors, a federal judge ruled this week.
Potential buyers want real information about the communities they’re shopping in. And while agents may feel like experts, their answers must always comply with fair housing laws. To help, the National Association of REALTORS® released some advice.
The firm’s subsidiaries include Century 21, Coldwell Banker, Corcoran Group and Sotheby’s International.
The National Association of REALTORS® expects existing-home sales to close 2022 15.2% lower compared to 2021, thanks to economic uncertainty and rising mortgage rates.
Sales of new homes in the U.S. jumped 28.8% between July and August, according to the U.S. Census Bureau and the U.S. Department of Housing and Urban Development.
The median existing-home price for all housing types in August was $389,500, a 7.7% rise from the year before.
New-home construction posted a 12.2% month-over-month increase in August, thanks in large part to a significant jump in multifamily building.
A continuing combination of increased interest rates, supply-chain disruptions and high home prices has sapped homebuilder sentiment every month this year.
Mortgage applications declined 1.2% during the week ended Sept. 9, according to the Mortgage Bankers Association’s Weekly Mortgage Applications Survey.
The modest 1% decline could indicate the current housing cycle is reaching a bottom as mortgage rates recede from their recent high, the National Association of REALTORS® said.
The median price of a new home sold during the month was up 5.9%, however, according to figures from the U.S. Census Bureau and the U.S. Department of Housing and Urban Development.
Nationally, the median sales price slid 2.9% from June but rose 8.1% from July 2021, while closed transactions were down 16.6% on a monthly basis and 26.3% on a yearly one, RE/MAX said in its National Housing Report.
A recent decline in mortgage rates could return some purchasing power to buyers going forward, National Association of REALTORS® chief economist Lawrence Yun said.
The pace of housing starts for both single-family and multifamily residences was down on a month over month basis, the U.S. Department of Housing and Urban Development reported.
The NAHB/Wells Fargo Housing Market Index fell for the eighth straight month in August, as the key measure of builder confidence indicated a pessimistic outlook.
The brokerage’s new “communities” will provide its agents with specialized training, technology, coaching and referral opportunities.