News / Features
The National Association of Realtors® announced new, pro-consumer changes to its guidance for local Multiple Listing Service broker marketplaces.
Seventy-eight percent of the 183 U.S. markets monitored by the National Association of Realtors had double-digit increases in their median home prices, a decline from the second quarter, when 94% of markets saw double-digit increases.
The supply of affordable homes on the market rose a record 13% in the third quarter as mortgage forbearance programs ended, prompting low-cost homeowners to put their properties on the market.
Atlanta’s Rodney Mason, who serves as vice president of mortgage lending with Guaranteed Rate, was named treasurer of the nonprofit, while Anita Blue, who works as an agent and credit restoration consultant at Cap Tex Realty, was named national vice president.
“Mortgage rates decreased for the first time since August, as concerns about supply-chain bottlenecks, waning consumer confidence, weaker economic growth and rising inflation pushed Treasury yields lower.” — MBA associate vice president of economic and industry forecasting Joel Kan
The average American home buyer is 45 years old, married or partnered, college-educated and likely to purchase a home located in the South, according to Zillow’s 2021 Consumer Housing Trends Report. Individuals ages 30-39 make up the largest population
“This will be the first time a home lender will provide an end-to-end ‘mortgage-as-a-service’ solution through Salesforce Financial Services Cloud — a platform that thousands of financial institutions already heavily rely on.” — Rocket Cos. Vice Chairman and CEO Jay Farner
Zillow announced today it’s ending its iBuyer service, Zillow Offers, and cutting roughly a quarter of its workforce, citing the volatility the service created for the online brokerage as the motivation for the move.
Millennials are purchasing houses — finally. Over the past year, millennials made up the largest share of homebuyers: 37% according to Barron’s.
As more house hunters are opting to live in socially, racially and culturally diverse communities, developers are formulating strategies to list more inclusive properties on the market, according to a report by The Wall Street Journal. Developers’ strategies include