WEATHER ALERT
New rules are changing the way Realtors get paid. What you should know if you’re buying or selling a home
Read full article: New rules are changing the way Realtors get paid. What you should know if you’re buying or selling a homeRealtors across the country are bracing for big changes to how they do business.
US home sales fell in June to slowest pace since December amid rising mortgage rates, home prices
Read full article: US home sales fell in June to slowest pace since December amid rising mortgage rates, home pricesSales of previously occupied U.S. homes fell in June for the fourth straight month as elevated mortgage rates and record-high prices kept many would-be homebuyers on the sidelines.
US homes find fewer foreign buyers as rising costs and a strong dollar leave market in record slump
Read full article: US homes find fewer foreign buyers as rising costs and a strong dollar leave market in record slumpSales of U.S. homes to foreign nationals have fallen to the lowest level in more than a decade, hampered by a strong dollar and many of the hurdles that have kept the housing market in a deep sales slump for over two years.
US home sales fall for the 3rd straight month in May amid rising mortgage rates, record-high prices
Read full article: US home sales fall for the 3rd straight month in May amid rising mortgage rates, record-high pricesSales of previously occupied U.S. homes fell in May for the third straight month as rising mortgage rates and record-high prices discouraged many prospective homebuyers during what’s traditionally the housing market’s busiest period of the year.
U.S. existing home sales drop 1.9% in April, pushed lower by high rates and high prices
Read full article: U.S. existing home sales drop 1.9% in April, pushed lower by high rates and high pricesSales of previously occupied U.S. homes sank last month, pushed down by high mortgage rates and rising prices.
Berkshire Hathaway's real estate firm to pay $250 million to settle real estate commission lawsuits
Read full article: Berkshire Hathaway's real estate firm to pay $250 million to settle real estate commission lawsuitsA real estate company owned by Warren Buffett’s Berkshire Hathaway has agreed to pay $250 million to settle lawsuits nationwide.
Sluggish start for spring homebuying season as home sales fall in March with mortgage rates rising
Read full article: Sluggish start for spring homebuying season as home sales fall in March with mortgage rates risingThe spring homebuying season is off to a sluggish start as home shoppers contend with elevated mortgage rates and rising prices.
Real estate policies changing after lawsuit settlement to compensate home sellers
Read full article: Real estate policies changing after lawsuit settlement to compensate home sellersSeveral real estate policies are changing after the National Association of Realtors (NAR) faced multiple lawsuits over the way agent commissions are set.
February home sales hit strongest pace in a year as mortgage rates ease and more houses hit market
Read full article: February home sales hit strongest pace in a year as mortgage rates ease and more houses hit marketSales of previously occupied U.S. homes rose in February from the previous month to the strongest pace in a year as homebuyers were encouraged by a modest pullback in mortgage rates and more properties on the market.
Rules that helped set real estate agent commissions are changing. Here's what you need to know
Read full article: Rules that helped set real estate agent commissions are changing. Here's what you need to knowThe cost of hiring a real estate agent to buy or sell a home may soon change, along with decades-old rules that have helped determine broker commissions.
TELL US: Future homebuyers, how do you think the changes in agent commissions will impact you?
Read full article: TELL US: Future homebuyers, how do you think the changes in agent commissions will impact you?A powerful real estate trade association has agreed to pay $418 million and change its rules to settle lawsuits claiming homeowners have been unfairly forced to pay artificially inflated agent commissions when they sold their homes.
Real estate lawsuit settlement upends decadeslong policies that helped set agent commissions
Read full article: Real estate lawsuit settlement upends decadeslong policies that helped set agent commissionsA powerful real estate trade association has agreed to pay $418 million and change its rules to settle lawsuits claiming homeowners have been unfairly forced to pay artificially inflated agent commissions when they sold their homes.
Home sales rose in January as easing mortgage rates, more homes for sale enticed homebuyers
Read full article: Home sales rose in January as easing mortgage rates, more homes for sale enticed homebuyersSales of previously occupied U.S. homes rose in January as homebuyers seized upon easing mortgage rates and a modest pickup in properties on the market.
2023 was slowest year for US home sales in nearly 30 years as high mortgage rates frustrated buyers
Read full article: 2023 was slowest year for US home sales in nearly 30 years as high mortgage rates frustrated buyersSales of previously occupied U.S. homes sank in 2023 to a nearly 30-year low as mortgage rates climbed to the highest level in more than two decades, pushing homeownership out of reach for many Americans.
5-month skid in home sales snapped in November as easing mortgage rates give buyers breathing room
Read full article: 5-month skid in home sales snapped in November as easing mortgage rates give buyers breathing roomSales of previously occupied U.S. homes rose in November, ending a five-month skid, as easing mortgage rates encouraged homebuyers.
Home sales slumped to slowest pace in more than 13 years in October as prices, borrowing costs, soar
Read full article: Home sales slumped to slowest pace in more than 13 years in October as prices, borrowing costs, soarSales of previously occupied U.S. homes slumped in October to their slowest pace in more than 13 years, as surging mortgage rates and rising prices kept many prospective homebuyers on the sidelines.
National Association of Realtors CEO stepping down; ex Chicago Sun-Times CEO tapped as interim hire
Read full article: National Association of Realtors CEO stepping down; ex Chicago Sun-Times CEO tapped as interim hireThe CEO of the National Association of Realtors is stepping down nearly two months before his planned retirement.
Real estate industry facing pushback to longstanding rules setting agent commissions on home sales
Read full article: Real estate industry facing pushback to longstanding rules setting agent commissions on home salesA series of court challenges seek to upend longstanding real estate industry practices that determine the commissions agents receive on the sale of a home — and who foots the bill.
Home sales fell again in September as surging mortgage rates, rising prices discouraged homebuyers
Read full article: Home sales fell again in September as surging mortgage rates, rising prices discouraged homebuyersSales of previously occupied U.S. homes fell for the fourth month in a row in September, held back by surging mortgage rates and a thin supply of properties on the market.
Have home prices bottomed? While low housing inventory stimies sales, bidding wars prop up prices
Read full article: Have home prices bottomed? While low housing inventory stimies sales, bidding wars prop up pricesWhile sales of previously occupied U.S. homes fell again last month, the national median home sales price rose to $406,700, marking its first annual increase since January, the National Association of Realtors said Tuesday.
Home sales in June fell to the slowest pace since January with near-historic low inventory for sale
Read full article: Home sales in June fell to the slowest pace since January with near-historic low inventory for saleSales of previously occupied U.S. homes fell in June to the slowest pace since January, as a near-historic low number of homes for sale and rising mortgage rates kept many would-be homebuyers on the sidelines.
May home sales rise with near record-few on the market and biggest annual price drop since 2011
Read full article: May home sales rise with near record-few on the market and biggest annual price drop since 2011Sales of previously occupied U.S. homes edged higher in May and the national median sale price posted its biggest annual drop in more than a decade, as a near all-time low supply of available properties constrained the housing market.
Looking for a house? High mortgages, few homes lead to biggest annual price drop in 11 years
Read full article: Looking for a house? High mortgages, few homes lead to biggest annual price drop in 11 yearsSales of previously occupied U.S. homes fell again last month and the national median sale price posted its biggest annual drop in 11 years.
US home sales fell in March in tepid homebuying season start
Read full article: US home sales fell in March in tepid homebuying season startSales of previously occupied U.S. homes fell in March and prices edged lower for the second month in a row, a tepid start to the spring homebuying season as buyers contend with sharply higher mortgage rates and a near historic-low number of properties on the market.
US home sales fell in November, the 10th consecutive month
Read full article: US home sales fell in November, the 10th consecutive monthSales of previously occupied U.S. homes slowed for the tenth month in a row in November, constrained by a tight inventory of properties on the market and mortgage rates averaging more than double what they were a year ago.
US home sales fell in October for ninth straight month
Read full article: US home sales fell in October for ninth straight monthSales of previously occupied U.S. homes fell in October for the ninth month in a row to the slowest pre-pandemic sales pace in more than 10 years, as homebuyers grappled with sharply higher mortgage rates, rising home prices and fewer properties on the market.
US home sales fell in September for eighth straight month
Read full article: US home sales fell in September for eighth straight monthSales of previously occupied U.S. homes fell in September for the eighth month in a row, matching the pre-pandemic sales pace from 10 years ago, as house hunters grappled with sharply higher mortgage rates, rising home prices and a still tight supply of properties on the market.
Home sales tumble again as mortgage rates surge
Read full article: Home sales tumble again as mortgage rates surgeSales of previously occupied U.S. homes slowed in April for the third month in a row as mortgage rates surged, driving up borrowing costs for would-be homebuyers as home prices soared to new highs.
March home sales fall as mortgage rates, home prices climb
Read full article: March home sales fall as mortgage rates, home prices climbSales of previously occupied U.S. homes slowed in March to the slowest pace in nearly two years as a swift rise in mortgage rates and record-high prices discouraged would-be homebuyers.
February home sales fall amid higher mortgage rates, prices
Read full article: February home sales fall amid higher mortgage rates, pricesSales of previously occupied U.S. homes fell in February as competition for a near-record low number of properties on the market drove prices higher and rising mortgage rates kept would-be buyers on the sidelines.
January home sales rise ahead of expected rate hikes
Read full article: January home sales rise ahead of expected rate hikesSales of previously occupied U.S. homes rose in January, as a surge in buyers paying cash and other would-be homeowners eager to avoid higher mortgage rates snapped up properties, leaving the number of available houses on the market at a record low.
Existing home sales, median price edged up in November
Read full article: Existing home sales, median price edged up in NovemberSales of previously occupied U.S. homes rose for the third straight month in November, reflecting strong demand, low mortgage rates and intense competition for a relatively low number of properties on the market.
October existing home sales hit fastest pace since January
Read full article: October existing home sales hit fastest pace since JanuarySales of previously occupied U.S. homes ticked higher in October, marking their strongest pace since January, even as resilient demand and competition for relatively few properties on the market kept prices climbing.
Existing home sales surge as interest rates point higher
Read full article: Existing home sales surge as interest rates point higherSales of previously occupied U.S. homes bounced back in September to their strongest pace since January as worries about higher mortgage rates motivated buyers to get off the sidelines.
April US home sales fell as low inventory pushed up prices
Read full article: April US home sales fell as low inventory pushed up pricesSales of previously occupied U.S. homes fell for the third straight month in April as the number of properties for sale hit a record low, driving prices to new highs.
More Americans sign contracts to buy homes in March
Read full article: More Americans sign contracts to buy homes in MarchMore Americans signed contracts to buy homes in March after two months of declines, pointing to a healthy housing market as summer approaches and the economy continues what shaping up to be a rapid recovery.
Screws tighten for home buyers in March, prices surge 17.2%
Read full article: Screws tighten for home buyers in March, prices surge 17.2%Sales of previously occupied U.S. homes fell in March for the second straight month as buyers grappled with a stubbornly low inventory of available properties and fierce competition pushed prices to new highs.
Feb. US home contract signings tumble, now lag year-ago pace
Read full article: Feb. US home contract signings tumble, now lag year-ago paceThe number of Americans who signed contracts to buy homes last month fell by the most since last years virus outbreak sent the economy into freefall. The National Association of Realtors index of pending home sales tumbled 10.6% to 110.3 in February, its lowest level since May of last year. The National Association of Realtors’ index of pending home sales tumbled 10.6% to 110.3 in February, its lowest level since May of last year. Contract signings are considered a barometer of purchases that will take place in the next two months. AdContract signings in all four regions fell in February and all are now behind last year's pace.
Existing US home sales fell in February, while prices rose
Read full article: Existing US home sales fell in February, while prices roseSales of previously occupied U.S. homes slowed last month as rising prices and a dearth of homes for sale kept some would-be buyers on the sidelines. (AP Photo/Charles Krupa, File)Sales of previously occupied U.S. homes slowed last month as rising prices and a dearth of homes for sale kept some would-be buyers on the sidelines. The National Association of Realtors said Monday that existing homes sales in February fell 6.6% from January to a seasonally-adjusted rate of 6.22 million annualized units. The red-hot housing market has left the number of available properties for sale at record lows, which has contributed to sharp increases in home prices. “Demand appears to be very strong.”The housing market has mounted a strong comeback since last summer after declining sharply in the spring when the coronavirus outbreak hit.
US contracts to buy homes decline, still a January record
Read full article: US contracts to buy homes decline, still a January recordFILE - In this Sept. 29, 2020 file photo, a sale pending sign is displayed outside a residential home for sale in East Derry, N.H. The number of Americans signing contracts to buy homes fell for the second straight month as lack of available homes continue to stifle house hunters. – The number of Americans who signed contracts to buy homes declined again with the number of properties for sale not matching the surging demand in the U.S. The National Association of Realtors’ index of pending home sales fell 2.8% to 122.8, which was still a record high for the month. Contract signings fell 0.9% in the Midwest and were up a slight 0.1% in the South.
US existing home sales, and prices, rise again in January
Read full article: US existing home sales, and prices, rise again in JanuaryExisting U.S. home sales rose 0.6% in January from the previous month to a seasonally-adjusted rate of 6.69 million annualized units, the National Association of Realtors said Friday. The red-hot housing market has left the number of available properties for sale at record lows. The dearth of homes for sale has been the main driver of home prices. “No winter slowdown.”The housing market has mounted a strong comeback since last summer after declining sharply in the spring when the coronavirus outbreak hit. AdYun, of NAR, expects the average 30-year mortgage rate to tick higher, possibly reaching 3% by midyear.
US contract signings to buy homes hits record for December
Read full article: US contract signings to buy homes hits record for DecemberThe number of Americans who signed contracts to buy homes declined slightly for the fourth straight month, but it was still a record high for December. – The number of Americans who signed contracts to buy homes declined slightly for the fourth straight month, but it was still a record high for December. Contract signings last month rose 21.4% over December 2019. Contract signings are considered a barometer of purchases that will take place the next one to two months. Regionally, contract signings were essentially flat in the West and South, while they declined 3.6% in the Midwest.
US home contract signings at record levels in November
Read full article: US home contract signings at record levels in NovemberFILE - In this Sept. 29, 2020 file photo, a sale pending sign is displayed outside a residential home for sale in East Derry, N.H. The number of Americans signing contracts to buy homes fell for the second straight month as lack of available homes continue to stifle house hunters. The National Association of Realtors said Monday, Nov. 30 that its index of pending sales fell 1.1%, to 128.9 in October, down from a reading of 130.3 in September. The National Association of Realtors said Wednesday that its index of pending sales fell 2.6% to 125.7 in November, down from October's revised reading of 129.1. Contract signings in all four regions — the Northeast, South, Midwest and West — declined from October to November but are up double-digits year-over-year through last month.
Nov. existing home sales fall 2.5%, following record summer
Read full article: Nov. existing home sales fall 2.5%, following record summerThe market for existing homes cooled slightly in November, the National Association of Realtors said Tuesday, Dec. 22, 2020 after climbing through the late spring, summer and early fall despite the pandemic. (AP Photo/Michael Conroy)CHARLOTTE, N.C. – The market for existing homes cooled slightly in November, the National Association of Realtors said Tuesday, after climbing through the late spring, summer and early fall despite the pandemic. Existing home sales fell 2.5% between October and November on a seasonally adjusted basis to 6.69 million annualized units. Sales of existing homes are still up 25.8% from a year earlier, the trade association said. ___This story has been corrected to say that sales of existing homes totaled a seasonally adjusted 6.69 million units in November and the average sale price was $310,800.
Fewer Americans sign contracts to buy homes in October
Read full article: Fewer Americans sign contracts to buy homes in October– The number of Americans signing contracts to buy homes fell for the second consecutive month as lack of available homes continues to stifle house hunters. Contract signings are a barometer of finalized purchases over the next two months. Three out of four regions saw declines in contract signings, with only the South logging a small gain. The median price for an existing single-family home reached $313,000 in October up almost 16% from October 2019. The median price of a new home sold in October was $330,600, according to the Commerce Department.
Existing home sales up 4.3% in October, fifth monthly gain
Read full article: Existing home sales up 4.3% in October, fifth monthly gainCHARLOTTE, N.C. – Sales of existing homes rose for a fifth straight month in October, reaching a level not seen since before the housing bubble popped 14 years ago. The National Association of Realtors said Thursday existing homes sales rose 4.3% to an seasonally-adjusted rate of 6.85 million annualized units. The 6.85 million figure is the highest for that data since February 2006 — the eve of when the housing market reached its apex and subsequently collapsed. Realtors and housing market experts have said the housing market is in a different and healthier place than it was the last time sales were at these levels. The inventory of unsold homes sits at 2.5 months' supply, down from 2.7 months' supply in September.
Pending home sales cool in September, down 2.2%
Read full article: Pending home sales cool in September, down 2.2%CHARLOTTE, N.C. – The pending sales of existing homes fell 2.2% in September, the National Association of Realtors said Thursday, the first monthly contraction of that figure in four months. The report is the latest indicator that showed the housing market cooled in September after being strong throughout the summer. Sales of existing homes fell in September as well, NAR reported earlier this month, and the Commerce Department said sales of newly constructed homes fell in September, too. Despite the modest decline, contract signings are still up 20.5% from a year earlier, the industry trade group said. Three out of the four regions tracked by NAR saw monthly declines.
September existing home sales climb 9.4%, highest since '06
Read full article: September existing home sales climb 9.4%, highest since '06CHARLOTTE, N.C. – Sales of existing homes climbed 9.4% in September, the National Association of Realtors said Thursday, the latest sign that the housing market remains red hot despite the coronavirus pandemic. On a seasonally-adjusted rate, the selling pace of existing homes climbed to 6.54 million annualized units. That is the highest level for that metric since February 2006, at the peak of the previous housing bubble. Housing inventory remains low as well, with only 2.7 months of home inventory on the market. But because of the pandemic, the spring home buying season was delayed a few months and pushed the bulk of the home buying season into the mid-to-late summer.
More Americans sign contracts to buy homes in August
Read full article: More Americans sign contracts to buy homes in August– More Americans signed contracts to buy homes in August, suggesting the hot U.S. housing market will continue to churn well into fall. The National Association of Realtors said Wednesday that its index of pending sales rose 8.8% to a record high of 132.8. The housing market has been one of the highlights of the U.S. economy, which is still trying to get back its pre-virus momentum. The National Association of Realtors said last week that sales of existing homes rose 2.4% in August to its highest level since 2006. All four regions of the U.S. saw more contract signings for the third straight month.
US homes sales rise 2.4% in August
Read full article: US homes sales rise 2.4% in AugustSales of new homes jumped again in July, rising 13.9% as the housing market continues to gain traction following a spring downturn caused by pandemic-related lockdowns. The Commerce Department reported Tuesday, Aug. 25, that Julys gain propelled sales of new homes to a seasonally-adjusted annual rate of 901,000. – Sales of existing homes rose 2.4% in August to its highest level since 2006 as the housing market recovers from a widespread shutdown in the spring brought on by the coronavirus outbreak. The National Association of Realtors said Tuesday that sales rose to a seasonally adjusted annual rate of 6 million homes sold last month. Historically, the Realtor group says, first-time buyers have made up about 40% of the primary residence home buyers in the market.
More Americans sign contracts to buy homes in July
Read full article: More Americans sign contracts to buy homes in JulyMore Americans signed contracts to buy homes in July, suggesting the current hot housing market could continue in the fall. The National Association of Realtors said Thursday that its index of pending sales rose 5.9%, to 122.1 last month. Sales of new homes jumped 13.9% in July, while sales of existing homes climbed 24.7%. Low supply of existing homes has forced buyers into the new home market, which has also seen its supply dwindle over the past year. The Northeast saw contract signing increase 25.2%; in the West they were up 6.8%.
July sales of new homes surge 13.9%, far more than thought
Read full article: July sales of new homes surge 13.9%, far more than thought– Sales of new homes jumped again in July, rising 13.9% as the housing market continues to gain traction following a spring downturn caused by pandemic-related lockdowns. The Commerce Department reported Tuesday that July's gain propelled sales of new homes to a seasonally-adjusted annual rate of 901,000, the most since 2006. Low inventory of existing homes is pushing buyers into the new homes market, but inventory there is also shrinking. Sales are being fueled by ultra-low mortgage rates, which earlier this month dropped below 3% for a 30-year-fixed rate mortgage for the first time in nearly 50 years. The average rate on a 30-year fixed rate mortgage is now 2.99%, the mortgage buyer Freddie Mac said Thursday.
Millions WFH and Home Depot sales explode
Read full article: Millions WFH and Home Depot sales explodeWith millions of people staring at their walls while working from home, sales at Home Depot surged in the second quarter, with same-stores sales in the U.S. spiking 25%. Overall revenue for the Atlanta company hit $38.05 billion, far exceeding the $34.94 billion Wall Street was expecting, according to a Zacks Investment Research survey. Sales at stores open at least a year, a key indicator of a retailer's health, climbed 23.4%, globally, trailing only the massive surge in comparable-store sales in the U.S. The National Association of Realtors said last month that its index of pending sales rose 16.6%, to 116.1 in June, its highest level since 2006. Home Depot Inc. earned $4.33 billion, or $4.02 per share, in the quarter, which was also far stronger than the per-share projections of $3.70 from analysts.
More Americans signed contracts to buy homes in June
Read full article: More Americans signed contracts to buy homes in JuneThe number of Americans signing contracts to buy homes rose for the second straight month after a devastating spring freeze brought on by the coronavirus outbreak. The National Association of Realtors said Wednesday that its index of pending sales rose 16.6%, to 116.1 in June, its highest level since 2006. All four regions saw more contract signings for the second straight month. In May, the number of Americans signing contracts to buy homes rebounded a record 44.3% after plunging during the usually busy spring season as buyers and sellers were sidelined by coronavirus-related closures and regulations. Last week, the government reported that sales of new homes jumped 13.8% in June, the second straight increase after two months when sales plunged as the country went into lockdown because of the coronavirus.
Pending home sales plunged 21.8% in April on a monthly basis
Read full article: Pending home sales plunged 21.8% in April on a monthly basisThe National Association of Realtors said Thursday that its pending home sales index plunged 21.8% from the prior month to a level of 69, the largest decline registered in data going back to 2001. Pending home sales have fallen 33.8% from a year ago. The index is a barometer of sales over the next two months when the transactions are completed. There are signs that home sales have reached a trough and could rebound. Low mortgage rates have supported buyer demand, such that the government's report of new-home sales showed a slight increase in purchases last month.
Rising home prices, falling sales hurting small businesses
Read full article: Rising home prices, falling sales hurting small businessesNEW YORK, NY – Many small companies tied to the housing market are seeing a slowdown in business, one that's forecast to continue well into 2020. Reports on home sales, the home remodeling market and sales of furniture and home furnishings show the spreading fallout from rising prices for houses and apartments. While sales are up nearly 4% from a year ago, an increase due to falling mortgage rates, would-be buyers are being turned away by housing prices that keep rising. But with sales fluctuating, there's less remodeling going on and so contractors, many of whom are small businesses, are getting less work. The Commerce Department figures don't break out sales at small or independent retailers versus large chain stores.