National News

Homebuyers from all demographics are waiting for the same thing: lower prices and mortgage rates

Two recent reports from the National Association of REALTORS® examine the challenges faced by today’s homebuyers from both the consumer’s and the Realtor’s perspective.

Mortgage rates hit highest level in more than 20 years

New home listings are still on the rise, despite mortgage rates hitting the highest level in more than 20 years. And those high mortgage rates are pushing monthly housing payments higher than they’ve ever been.

Houses before spouses: the best and worst states for single homeowners

House hunting was traditionally a couples’ game until Millennials and Gen Zers came into the picture. Now, many young individuals are plunging into the market solo.

Redfin to cut ties with NAR, citing recent sex harassment claims

Redfin said it will require many of its agents to leave NAR and the association has “forced an all-or-nothing choice on us,” and it would therefore “choose nothing.”

Mortgage rates hit nearly 20-year high, cause home sales to tumble

Canceled home-sales contracts hit their highest rate in almost a year as skittish homebuyers blanche at mortgage rates that are the highest they’ve been in more than 20 years

3D home tours, customization and other keys to reaching today’s new-construction buyers

One of the biggest hurdles facing residential builders is raising awareness of their projects among prospective buyers, according to Zillow’s recently released new-construction consumer housing trends report.

High housing costs dampen homebuyer demand

Those looking to buy a house will be paying a premium as inventory continues to be an issue.

NAR President Kenny Parcell resigns amid reports of sexual harassment

Kenny Parcell has resigned as president of the National Association of REALTORS® following a recent bombshell report by the New York Times into allegations of sexual harassment within the organization.

How agents are working around the cyberattack that shut down MLS access in parts of 12 states

MLS freeze strikes agents in Florida, Massachusetts, Indiana, New York, California and elsewhere.

Housing starts rebound in July after June slump 

Single-family home permits and completions, meanwhile, also rose, according to the U.S. Census Bureau and the U.S. Department of Housing and Urban Development. 

Nearly half of homeowners now are considered ‘equity-rich’

Homes where the loan-to-value ratio is 50% or lower — equity-rich homes — are on the rise, which is good news for homeowners.

Monthly mortgage payments up nearly 20% from 2022

Meanwhile, July’s home sale prices had their highest increase since November.

14 Houston master-planned communities make RCLCO’s Mid-2023 Sales Top 50

Sales in Houston master-planned communities made up 24% of all MPC sales in the first half of 2023.

Homes are selling above asking price for first time in nearly a year

For the first time in almost 12 months, the average U.S. home is selling above its asking price, as the average sale-to-list price ratio hit 100.1% earlier this month

NAR launches podcast highlighting Realtor safety

Set to debut on July 17, “Drive with NAR: The Safety Series” will be hosted by former real estate agent and expert, Tracey Hawkins.

Former employee sues NAR, alleges discrimination by President Kenny Parcell

The National Association of REALTORS® has been named in a new lawsuit by Janelle Brevard, the organization’s former chief storyteller. NAR President Kenny Parcell is named multiple times in the complaint.

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