National News

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Homebuyer sentiment drives prices lower

More home sellers are resorting to price cuts as interest from buyers wanes nationwide. A recent report from Zillow found that starting in June, 14 percent of current home listings reduced their asking prices. While that rate has remained

NAR: Majority of homes sold in July were on the market for less than a month

Existing home sales slowed slightly in July to the slowest pace in more than two years and represented the fifth straight month of declines, according to the latest report from the National Association of Realtors. But demand stayed steady

Trulia Neighborhoods launches to provide crowdsourced localized information

Trulia is launching a new tool to help buyers, renters and agents learn about an area with their new feature – Trulia Neighborhoods. The new tool, which is available both online and as a mobile app, is a crowdsourced

Real Estate In Brief: Home improvement spending, Realtors on TV and more

Homeowners appear to be spending more on maintenance and remodeling projects, reflecting an increasing preference in getting more life out of a home rather than trading up for a new one. According to a report from BuildFax, which aggregates

HUD files housing discrimination complaint against Facebook

The U.S. Department of Housing and Urban Development (HUD) filed a discrimination complaint against Facebook Aug. 17. HUD claims that the company violated the Fair Housing Act by allowing landlords and home sellers to target or exclude users from

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Construction industry job openings reach post-recession high

For those under the age of 24, a career in construction is an unlikely reality and an even rarer goal. According The Wall Street Journal, many parents these days may feel they have failed their child if they do

US housing stock ages as construction backlog grows

More Americans are becoming homeowners, particularly young adults. But the homes they are living in are generally older. Data from the U.S. Census Bureau’s most recent American Community Survey showed that in 2016, the median age of all owner-occupied

US foreclosure rate falls to 12-year low as borrowing grows

Two reports on the state of housing finance this week show that mortgage borrowers are still faring well financially despite some recent economic headwinds. The national foreclosure rate reached its lowest point since 2006, according to a report on May

HUD looks for public comments on possible fair housing rule changes

The Department of Housing and Urban Development recently announced that it is looking for public comments regarding plans on “streamlining” the Affirmatively Furthering Fair Housing Rule, an Obama-era rule on desegregation. The rule was designed to help cities and

NAR secures ‘a big win’ on new tax break for agents

Updated guidance from the IRS related to federal tax cuts passed at the end of 2017 confirmed that many real estate professionals should be able to claim a substantial income deduction once they file their 2018 tax returns, in

Redfin plans long-term with Redfin Now, doubles down on direct buying program

Redfin’s direct home-buying program, Redfin Now, is no longer in testing phase. Redfin recently announced that it has doubled down, making direct home-buying its long-term business plan. Redfin Now buys and lists homes, making an offer to the homeowner

Luxury market sees record growth in July

As the homebuying season reaches its peak for the year, sales in the luxury market continued to grow at a record pace last month. Prices in 19 major luxury markets saw double digit growth, according to the realtor.com 2018

Real Estate in Brief: Millennials want to buy but worry about prices, Spruce raises $15.6 million and more

Millennials want to buy a home, but they continue to view homeownership as unattainable during today’s period of rapidly increasing prices and increasingly limited inventory across the market, according to the CoreLogic Home Price Index (HPI) and HPI Forecast

Strict land-use regulations bring highest home values

Job growth often leads to increased home value, but why are some cities overwhelmingly surpassing others? A new report from Zillow points towards zoning restrictions seem to have an impact on growing home values. From Zillow’s data, the medium

Americans no longer consider real estate as the best investment

For Americans, choosing an investment can be a nerve-racking and difficult decision. For years, investing in real estate has been a popular choice for a lot of Americans, but a new survey found that’s no longer the case.  In

Rubio proposes federal expansion of Miami cash sales rule

Last month, the Miami Herald reported that an effort to crack down on money laundering through real estate purchases in Miami-Dade County could be expanded nationwide. In a July 31 statement made to McClatchy and the Miami Herald, Florida

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