Winter lovers and haters come together on the second day of February every year to see Punxsutawney Phil climb out of his hole and cast his prediction for how much longer before the snow and ice slowly makes way for green lawns and chirpy birds. Can a groundhog and his shadow also predict the direction… Continue Reading [Infographic] Forecasting a Shadow: Groundhog Day and Real Estate
In the monthly REALTORS® Confidence Index Survey, the National Association of REALTORS® asks members “In the neighborhood or area where you make most of your sales, what are your expectations for residential property prices over the next year?” Among the REALTOR® respondents who responded to the December 2017 survey, the median expected price change for… Continue Reading REALTORS® Typically Expect Home Prices to Increase 3% in 2018
The U.S. Court of Appeals for the D.C. Circuit has reinstated its prior holding that payments for bona fide services provided and made at fair market value do not violate the Real Estate Settlement Procedures Act, or RESPA. This decision reinforces NAR’s support of marketing service agreements. NAR President Elizabeth Mendenhall applauded the decision and issued… Continue Reading Realtors®: RESPA win on marketing service agreements
Tonight is the first blue moon since May 2016. How has the housing market changed since then? Check out this infographic from the National Association of Realtors®. Powered by WPeMatico
The following is NAR Chief Economist Lawrence Yun’s reaction to the Federal Reserve’s decision today not to raise short-term rates, as well as how monetary policy the rest of the year will influence mortgage rates: “The Fed will not be on standby for the remainder of the year. A total of three short-term rate hikes are likely.… Continue Reading Instant Reaction: Lawrence Yun on Today’s FOMC Statement and 2018 Outlook for Mortgage Rates
Existing-home sales closed 2017 on a softer note, but the prospects for sales gains in the months ahead look brighter as contract activity edged higher in December for the third straight month. Visit https://www.nar.realtor/videos/housing-minute to watch a 52-second, animated video from the National Association of Realtors® summarizing how the housing market performed in December, as… Continue Reading WATCH: Realtors® January Housing Minute: A 52-Second Video of Market Activity
First-time buyers accounted for 32 percent of all buyers of existing homes in December 2017, also the full-year average, according to the December 2017 REALTORS® Confidence Index Survey.[1] Compared to 2016, the share held steady, even as home prices continued to increase at a much faster pace than income and as mortgage rates rose somewhat.… Continue Reading Share of First-time Buyers Held Steady at 32% in 2017 as Home Prices Continue to Increase under Tight Supply
NAR released a summary of existing-home sales data showing that housing market activity this December fell 3.6 percent from last month but modestly rose 1.1 percent from last year. December’s existing home sales reached 5.5 million seasonally adjusted annual rate. This would be the highest annual rate in the last 11 years. The national median… Continue Reading December 2017 Existing-Home Sales
FOR IMMEDIATE RELEASE CONTACT: Sharon Delia (803) 772-5206 REALTORS® hit record-high closed sales in 2017 COLUMBIA, S.C. (January 29, 2018) -- South Carolina REALTORS® (SCR) today released its 2017 annual market report. The reports show 2017 as a record-setting year for closed sales by Realtors®. At 83,570, this is the highest number of closed sales… Continue Reading REALTORS(R) hit record-high closed sales in 2017
When I’m working on stories for REALTOR® Magazine, it’s not uncommon for my interview subjects to offer supplemental reading that might help round out my reporting. But rarely am I told that a book could change my thinking entirely on a given subject. So when the Incremental Development Alliances’ John Anderson (whom I interviewed in… Continue Reading Wake Up Call for the Development Industry