National News

New-home construction picks up in February  

“More groundbreaking is welcome news for a supply-starved housing market.” — First American deputy chief economist Odeta Kushi 

Builder confidence falls on supply-chain issues, construction costs 

The measurement of six-month sales expectations among homebuilders took an especially negative turn in March, according to the National Association of Home Builders. 

Mortgage applications slide with rate hike and more Ukraine uncertainty ahead

“Investors are weighing the impacts of rapidly increasing inflation in the U.S. and many other parts of the world against the potential for a slowdown in economic growth due to a renewed bout of supply-chain constraints.” — MBA associate vice president of economic and industry forecasting Joel Kan

First American Financial names Hurst its first chief innovation officer

The company has named Paul Hurst its chief innovation officer, a new role that reports directly to CEO Ken DeGiorgio.

Ahead of Fed hike, homes selling at a record pace

Of the homes that went under contract during the four weeks ended March 6, 58% had an accepted offer within the first two weeks of going on the market, and 45% had an accepted offer within just one week, Redfin reported.

Opinion: Now’s the time to help the people of Ukraine

Paul Ratha Yem is a Massachusetts real estate broker and former Cambodian refugee who sees parallels between his story and the women and children escaping war-torn Ukraine.

NAR: Russia-Ukraine tensions unlikely to impact U.S. housing market 

Foreign buyers accounted for less than 2% of U.S. residential real estate transactions last year, and Russian buyers accounted for less than 1% of those, the National Association of REALTORS® reported. 

Mortgage applications rise, interest rates fall as Ukraine uncertainty roils markets 

“Looking ahead, the potential for higher inflation amidst disruptions in oil and other commodity flows will likely lead to a period of volatility in rates.” — MBA associate vice president of economic and industry forecasting Joel Kan 

RE/MAX celebrates 2 million transaction sides at annual convention in Las Vegas 

The real estate franchisor’s 140,000 agents closed more than two million transaction sides in 2021 to become the first real estate brand to do so in a single calendar year, according to the company.

NAR issues statement on Russia-Ukraine crisis

The National Association of REALTORS® released an official statement this week regarding Russia’s invasion of Ukraine.

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