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NAR Midyear Forecast: Existing-Home Sales Poised to Climb 3.5 Percent in 2017
The multi-year stretch of robust job gains along with improving household confidence are expected to guide existing-home sales to a decade high in 2017, but supply and affordability headwinds and modest economic growth are holding back sales and threatening to keep the nation’s low homeownership rate subdued.
Second Century Ventures adds Adwerx and immoviewer to 2017 REach® Accelerator Class
Two more innovative technology companies have been selected to join REach®, a growth technology accelerator program from the National Association of Realtors®' strategic investment arm, Second Century Ventures.
Regulations, Retention and Recruitment Pressing Issues for Appraisal Industry
Any perceived shortage of appraisers may be location specific and dependent on whom you ask, but there is universal agreement that more needs to be done to keep appraisers in the profession and attract new talent. That’s according to panelists yesterday at a property valuation forum at the 2017 REALTORS® Legislative Meetings & Trade Expo
REALTOR Benefits® Partner Placester Offers Free Websites to All Realtors®
Last year, Realtors® spent a median of $70 to maintain a website. To help reduce business costs, Placester(link is external), a real estate website and marketing platform, is extending its partnership with the National Association of Realtors® to bring a basic “NAR Edition” website to the association’s 1.2 million members at no charge.
Senate Ways and Means Releases FY2018 State Budget Proposal
The Senate Committee on Ways and Means (SWM) released its FY2018 state budget proposal(link is external). The budget includes strong investments in affordable housing and homelessness prevention resources.
Solar Industry Applauds Gov. Dayton’s Veto, Urges Him to Keep Anti-Consumer Provisions Out of...
The national solar energy association commended Minnesota Gov. Mark Dayton for protecting consumers and a quickly growing solar industry in the state. The measure (SF 1937) would have removed solar customers’ ability to have unfair fees reviewed by independent experts at the Public Utilities Commission
HUD Secretary Carson Highlights Possible Improvements to Homeownership Programs
Potential homebuyers have a lot to contend with from tight credit and low inventory to rising prices. But for buyers who are able to muscle past these hurdles, Realtors® know that tough-to-make deals can still fall apart when needlessly high regulatory burdens get in the way.
National Business Groups Send U.S. Dept. of Energy Analyses Showing Diverse Energy Sources Protect...
Today four national business groups representing the range of advanced and renewable energy companies in the United States submitted materials to U.S. Energy Secretary Rick Perry to inform the energy market study he called for last month.
Delinquencies Decline in Latest MBA Mortgage Delinquency Survey
The delinquency rate for mortgage loans on one- to four-unit residential properties decreased to a seasonally adjusted rate of 4.71 percent of all loans outstanding at the end of the first quarter of 2017. The delinquency rate was down nine basis points from the previous quarter, and was six basis points lower than one year ago, according to the Mortgage Bankers Association's (MBA) National Delinquency Survey.
National Business Groups Send U.S. Dept. of Energy Analyses Showing Diverse Energy Sources Protect...
Today four national business groups representing the range of advanced and renewable energy companies in the United States submitted materials to U.S. Energy Secretary Rick Perry to inform the energy market study he called for last month.
Multifamily Drop Brings Down Housing Production 2.6 Percent in April
Led by a decline in multifamily production, nationwide housing starts fell 2.6 percent in April to a seasonally adjusted annual rate of 1.17 million units, according to newly released data from the U.S. Department of Housing and Urban Development and the Commerce Department.
IBTS Prepares for Inaugural Day of Service
The Institute for Building Technology and Safety (IBTS), a 501(c)(3) non-profit organization, is pleased to announce that its inaugural day of service, IBTS L.O.V.E. (Locally Organized Volunteer Event) will take place tomorrow, May 17, 2017.
Rural Residents, Conservationists to Oppose Water Bill at Tuesday Hearing
A coalition of Nevadans will be at the state legislature Tuesday afternoon to voice their opposition to proposed state water-law revisions that would make it easier to siphon groundwater away from rural Nevada, which could devastate local ecosystems and economies
NAHB Now Accepting Applications for Best of 55+ Housing Awards
The National Association of Home Builders (NAHB) 55+ Housing Industry Council is now accepting applications for the 2018 Best of 55+ Housing Awards, which honor excellence in building design, marketing and lifestyle of housing for the mature adult. The awards also honor individual success by highlighting two 55+ Housing Industry Council members—one as Builder of the Year and one as Associate of the Year.
City residents less financially confident than suburban and rural counterparts, finds new survey from...
Pressured by the high cost of housing and other living expenses, 31 percent of American adults living in urban areas are "not too confident" or "not confident at all" of their ability to withstand a sudden financial emergency, according to the fourth annual NeighborWorks America consumer finance survey. In contrast, just 28 percent of rural adults and 25 percent of suburban residents reported a similar lack of confidence.
Metro Home-Price Growth Heats Up 6.9 Percent in First Quarter
The strongest quarterly sales pace in exactly a decade put significant downward pressure on inventory levels and caused price growth to further accelerate during the first three months of 2017, according to the latest quarterly report by the National Association of Realtors®. Metro home prices have now accelerated for three consecutive quarters.
Builder Confidence Continues on Upward Trend
In a further sign that the housing market continues to strengthen, builder confidence in the market for newly-built single-family homes rose two points in May to a level of 70 on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI). This is the second highest HMI reading since the downturn.
April New Home Purchase Mortgage Applications Drop 4.3 Percent Year over Year
The Mortgage Bankers Association (MBA) Builder Applications Survey (BAS) data for April 2017 shows mortgage applications for new home purchases decreased 4.3 percent compared to April 2016. Compared to March 2017, applications decreased by 20 percent relative to the previous month. This change does not include any adjustment for typical seasonal patterns.
AWWA advocates for water infrastructure investment as Drinking Water Week ends
As Drinking Water Week concludes, the American Water Works Association and water professionals across North America are advocating for investment in the repair and replacement of local water infrastructure.
NCRC Applauds FHFA Director Watt’s Call for GSEs to Retain Their Profits
In response to Federal Housing Finance Agency (FHFA) Director Mel Watt’s testimony before Congress warning of a possible bailout of the government-sponsored enterprises (GSEs) from the U.S. Department of Treasury and supporting retention of the GSEs' profits rather than turning them over to the U.S. Treasury, the National Community Reinvestment Coalition’s (NCRC) President and CEO John Taylor made the following statement.
