News & Media NEW YORK – Demand cooled among all types of buyers, including investors and buyers looking at newly built homes. While buyers are increasingly looking at adjustable-rate mortgages to help with surging homeownership costs, persistent imbalances between buyers and sellers in some markets continue to put pressure on home prices. Let’s look […]
WASHINGTON — The Federal Reserve’s favored inflation measure remained low last month, bolstering evidence that price pressures are steadily cooling and setting the stage for the Fed to begin cutting interest rates this fall. Prices rose just 0.1% from May to June, the Commerce Department said Friday, up from the previous month’s unchanged reading. […]
News & Media WASHINGTON – The National Association of Realtors® (NAR) policy changes are due to go into effect Aug. 17. The practice changes required by the settlement are as follows: Eliminate and prohibit any requirement of offers of compensation in the MLS between listing brokers or sellers to buyer brokers or other buyer […]
News & Media WASHINGTON – The University of Michigan released revised data on Friday showing consumer sentiment in the U.S. deteriorated by slightly less than previously estimated in the month of July. The report said the consumer sentiment index for July was upwardly revised to 66.4 from the preliminary reading of 66.0. Economists had […]
CHICAGO – Data is the main ingredient in the appraisal process. Clear, concise and verifiable data helps to ensure an accurate appraisal report. Where do appraisers get such data? They depend on the multiple listing service. In states with non-disclosure laws – i.e., where sales prices aren’t included in the public record—an MLS is […]
News & Media ORLANDO, Fla. — All Realtors® must change the way they do business when dealing with buyers, so it is crucial to equip yourself with the necessary tools and knowledge for success. Your 2024 Florida Realtors® Leadership Team has seen the need for continued education on this topic and invites you to […]
News & Media TALLAHASSEE, Fla.—Florida Attorney General Ashley Moody is urging Floridians to use caution when booking online vacation rentals to avoid falling victim to scams. Moody, in her 2024 Summer Scams Series: Sunny Days and Shady Deals video, said vacation renters should use legitimate platforms for rentals and be wary of too-good-to-be-true deals. […]
News & Media SEATTLE — The typical U.S. homebuyer’s monthly housing payment was $2,671 during the four weeks ending July 21, the lowest level in four months and down $166 from the record high set at the end of April. That’s according to a new report from the real estate brokerage Redfin. Housing payments […]
News & Media SAN FRANCISCO, Calif. – A lack of adequate financial education among America’s underrepresented communities is creating long-lasting problems that hinder their ability to access affordable credit and housing, a new survey by Credit Sesame found. The survey found 85% of those who say they received some personal finance knowledge in school […]
SANTA CLARA, Calif. – Rents fell again in June, with especially large declines in the South, where there’s been an influx of new rental units, according to a Realtor.com Rental Report. The median asking rent for 0-2 bedroom units fell -0.4% ($7) from last June to $1,743, marking the 11th straight month of declines […]
News & Media SEATTLE — The typical U.S. luxury home sold for a record $1,180,000 in the second quarter, up 8.8% from a year earlier – the biggest increase in nearly two years. Non-luxury home prices grew at less than half that pace, rising 3.8% to a record high median of $342,500, according to […]
LOS ANGELES — Mortgage rates inched higher this week, keeping the average rate on a 30-year mortgage essentially flat and near the 7% range it’s been in most of this year. The rate rose to 6.78% from 6.77% last week, mortgage buyer Freddie Mac said Thursday. A year ago, the rate averaged 6.81%. Borrowing […]