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.
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.
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.
“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
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.
The National Association of REALTORS® released an official statement this week regarding Russia’s invasion of Ukraine.
“Given the situation in the market — mortgages, home costs and inventory — it would not be surprising to see a retreat in housing demand.” — NAR chief economist Lawrence Yun
“Builders are entering 2022 with backlogs that they are having a hard time completing due to material and labor shortages, and new-home prices are sitting near a historic high.” — First American Deputy Chief Economist Odeta Kushi
@properties Christie’s International Real Estate has released the findings of a new survey focused on brokerage technology.
While rising interest rates may lead to more reductions in the housing supply, it may also bring some much-needed balance to the market.