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 […]
News & Media ORLANDO, Fla. — Because all Realtors® must change the way they do business when dealing with buyers, it is more important than ever to have the tools and knowledge you need to conduct your business successfully. Your 2024 Florida Realtors Leadership Team has seen the need for continued education on this […]
WASHINGTON – Elevated mortgage rates continue to keep buyers on hold, as new home sales remained relatively flat in June, the National Association of Home Builders (NAHB) said. Sales of newly built, single-family homes in June fell 0.6% to a 617,000 seasonally adjusted annual rate from a slight upwardly revised reading in May, according […]
CHICAGO – Although limited housing inventory, rising home prices and high mortgage rates have pushed existing-home sales to a 30-year low, a market turnaround is coming in 2025, Lawrence Yun, chief economist for the National Association of Realtors®, predicted during NAR’s latest Real Estate Forecast Summit. He said mortgage rates will likely fall in […]
WASHINGTON – Home price growth in the second quarter was stronger than previously anticipated but will likely moderate soon, closing 2024 and 2025 at annual rates of 6.1% and 3.0%, respectively, according to the July 2024 commentary from the Fannie Mae Economic and Strategic Research (ESR) Group. Despite a more than 30% increase in […]
SAN JOSE, Calif. – Trying to save money for a down payment can be a major obstacle to homeownership for many consumers. Nearly 60% of Millennials say that coming up with a down payment is one of the biggest obstacles standing in the way of homeownership, according to a recent survey by Apartment List. […]
NEW YORK – Purchasing a home is typically the largest and most significant investment of our lives. It’s a milestone interwoven with personal dreams, aspirations, and an immense amount of confidential information. Real estate agents, brokers, and their MLSs are more than just facilitators of a home purchase – you are stewards of trust, […]
News & Media NEW YORK – Real estate professionals strive to maintain a professional image, but despite their best efforts, some fall short. To ensure you project a professional image, consider the following factors: Outdated headshots, obsolete biographies, disorganized offers, underdeveloped marketing strategies, subpar branding and an ineffective social media presence can sink a […]
News & Media By Mae Anderson NEW YORK — The hurricane season roared into the U.S. with Hurricane Beryl hitting Texas in early July, surprising many business owners accustomed to seeing big storms arrive later in the summer. With the National Oceanic and Atmospheric Administration predicting an above-average storm season this year, small businesses […]
News & Media WASHINGTON – Five federal agencies recently approved new guidance for Reconsiderations of Values (ROVs) in residential real estate transactions, allowing consumers to submit additional information that may have been overlooked or to address deficiencies identified in the original appraisal. ROVs are requests from financial institutions to appraisers or other valuation-report preparers […]