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Existing-home sales rebounded strongly in September and were propelled by sales from first-time buyers reaching a 34 percent share, which is a high not seen in over four years, according to the National Association of Realtors®. All major regions saw an increase in closings last month, and distressed sales fell to a new low of 4 percent of the market.
tional Association of Realtors®, mortgage rates were over four times higher than they are today and first-time buyers made up a much larger share of overall sales (44 percent). Over time, homebuyer tastes and behaviors have changed, yet many have stayed the same. In anticipation of the 2016 survey release on October 31, NAR has identified five noteworthy real estate trends since the survey’s inception.
The National Association of Realtors®, through the REALTOR Benefits® Program, has partnered with Intuit, the global leader in financial management software products, to offer exclusive savings on Intuit's signature products QuickBooks® Self-Employed and TurboTax
Realtors® raised concerns earlier this year when the Federal Housing Administration’s “Single Family Housing Policy Handbook” included new requirements for appraisers to operate and physically observe appliances on a property during the completion of an appraisal. This inspector-type role far exceeded previously understood appraiser duties and had the potential to make appraisals longer and more costly for consumers.
After bouncing back in July, pending home sales cooled in August for the third time in four months and to their lowest level since January, according to the National Association of Realtors
When H.R. 3700, the “Housing Opportunity Through Modernization Act,” was signed into law earlier this year, the Department of Housing and Urban Development was given notice that they had 90 days to weigh in on regulations related to Federal Housing Administration financing for condominiums before changes automatically went into effect. These included rules regarding owner-occupancy rates and treatment of spot loans, among others
Homeowners looking to tackle a remodeling project should head outside, according to a new report from the National Association of Realtors® and National Association of Landscape Professionals.
Existing-home sales eased up in August for the second consecutive month despite mortgage rates near record lows as higher home prices and not enough inventory for sale kept some would-be buyers at bay, according to the National Association of Realtors®. Only the Northeast region saw a monthly increase in closings in August, where inventory is currently more adequate.
The National Association of Realtors® is declaring a major victory against patent abuse in a settlement with Data Distribution Technologies, a subsidiary of the patent enforcement firm General Patent Corporation. DDT sued and threatened several real estate businesses in the past over use of a technology-related patent, but NAR challenged the patent’s validity before the U.S. Patent and Trademark Office and filed a declaratory judgment lawsuit on behalf of NAR members.
The vast majority of real estate firms have an optimistic outlook for the future of the industry’s profitability and growth, according to the National Association of Realtors® 2016 Profile of Real Estate Firms. Profitability expectations have declined from the 2015 survey, mainly due to inventory shortages and home-price growth, but real estate firms remain confident about their overall future profitability.
Data Distribution Technologies, LLC (“DDT”) and the National Association of Realtors® (“NAR”) have settled several proceedings relating to U.S. Patent No. 6,529,908, titled Web-updated database with record distribution by email, including an Inter Partes Review of the patent requested by NAR. The terms of the settlement agreement include a covenant not to sue by DDT as to all NAR members, local and state associations, MLSs, affiliates, and certain other NAR-related entities.
Since 2003, the National Association of Realtors® has dedicated September as Realtor® Safety Month; this year, as part of ongoing efforts to keep its members safe, NAR has an updated safety report available for members, firms and associations and a mobile app that has been expanded to include safety features
Single-family home construction is currently lacking in 80 percent of measured metro areas despite steady job creation and the low activity is creating a housing shortage crisis that is curtailing affordability and threatening to hold back prospective buyers in many of the largest cities in the country, according to new research from the National Association of Realtors
The National Association of Realtors® has named 10 Realtors® as finalists for REALTOR® Magazine’s 2016 Good Neighbor Awards. This award honors Realtors® who have made an extraordinary impact on their communities through volunteer work.
Pending home sales expanded in most of the country in July and reached their second highest reading in over a decade, according to the National Association of Realtors®. Only the Midwest saw a dip in contract activity last month
Buoyed by a steadily improving labor market and strong demand for multifamily housing, commercial real estate activity should remain on an upward trajectory, with a growing share of it is expected to be in smaller markets, according to the National Association of Realtors® quarterly commercial real estate forecast.
Slowed by frustratingly low inventory levels in many parts of the country, existing-home sales lost momentum in July and decreased year-over-year for the first time since November 2015, according to the National Association of Realtors®. Only the West region saw a monthly increase in closings in July.
The National Association of Realtors® joined forces last year with Boys & Girls Clubs of America to enrich the lives of Club kids and teens in communities across the U.S
Home prices maintained their robust, upward trajectory in a vast majority of metro areas during the second quarter, causing affordability to slightly decline despite mortgage rates hovering at lows not seen in over three years, according to the latest quarterly report by the National Association of Realtors®. The report also revealed that for the first time ever, a metro area – San Jose, California – had a median single-family home price above $1 million.
Since the October 2015 implementation of the Consumer Financial Protection Bureau's ‘Know Before You Owe' mortgage initiative, Realtors® have raised red flags(link is external) over challenges in gaining access to what's known as the mortgage "closing disclosure" form, or CD. The CD is delivered to homebuyers in advance of their closing and contains important financial information related to their purchase.
Pending home sales were mostly unmoved in June, but did creep slightly higher as supply and affordability constraints prevented a bigger boost in activity from mortgage rates that lingered near all-time lows through most of the month, according to the National Association of Realtors®. Increases in the Northeast and Midwest were offset by declines in the South and West.
Boosted by a greater share of sales to first-time buyers not seen in nearly four years, existing-home sales maintained their upward trajectory in June and increased for the fourth consecutive month, according to the National Association of Realtors®. Only the Northeast saw a decline in closings in June, and sales to investors fell to their lowest overall share since July 2009.
The U.S. Senate tonight passed H.R. 3700, the "Housing Opportunity Through Modernization Act," by unanimous consent. This legislation includes reforms to current Federal Housing Administration restrictions on condominium financing, among other provisions, and is long supported by the National Association of Realtors
Despite lackluster economic growth and stark home-price appreciation in several parts of the country in recent months, roughly three-quarters of surveyed households still believe now is a good time to buy a home, but there's a considerable gap in morale between homeowners and renters, according to the latest installment of the National Association of Realtors® Housing Opportunities and Market Experience (HOME) survey1. The survey also found that roughly half of young adults with student debt are uncomfortable about taking on a mortgage.
Waning economic growth in many countries and higher home prices further enhanced by a strengthening U.S. dollar resulted in a slight decline in international sales dollar volume of U.S. property over the past year and a significant retreat in buying from non-resident foreigners
Flood insurance costs continue to put small businesses and homeownership at risk, but the National Association of Realtors® told U.S. Senators today that a range of solutions are on the horizon
After steadily increasing for three straight months, pending home sales let up in May and declined year-over-year for the first time in almost two years, according to the National Association of Realtors®. All four major regions experienced a cutback in contract activity last month
The National Association of Realtors® has partnered with Electronics Row to create a Members’ Gift Galleria(link is external), the first-of-its-kind custom shopping destination exclusively for Realtors®, association members and their families.
Commercial drone use in the real estate business got a boost today with the release of the Federal Aviation Administration's final rule (link is external) governing small unmanned aerial systems, or UASs, in the national air space.
We are pleased that Zillow has agreed to a settlement amount of $130 million in damages instead of going to trial, and that the parties have reached an amicable resolution.