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NAR released a summary of existing-home sales data showing that housing market activity this August slipped 1.7 percent from last month but modestly improved 0.2 percent from last year. August’s existing-home sales reached 5.35 million seasonally adjusted annual rate. The national median existing-home price for all housing types was $253,500 in August, up 5.6 percent… Continue Reading August 2017 Existing-Home Sales
Autumn is upon us, and the changing of the seasons is a great time to put together creative YPN events that will get members excited to be involved. Here are five real-life ideas from YPN groups around the country. 1. Not Your Usual Cocktail Party. Lakes Area REALTORS® Association YPN will host a wine and… Continue Reading Fall YPN Event Ideas
The following is NAR Chief Economist Lawrence Yun’s reaction to this morning’s U.S. Commerce Department release on residential construction in August. “Following August’s decline in new home construction, there will no doubt be a further temporary setback to housing starts in upcoming months due to the impacts of Hurricanes Harvey and Irma on Texas and… Continue Reading NAR Instant Reaction: August Housing Starts
WASHINGTON (September 18, 2017) – Despite being in the prime years to buy their first home, an overwhelming majority of millennials with student debt currently do not own a home and believe this debt is to blame for what they typically expect to be a seven-year delay from buying. This is according to a new… Continue Reading Student Debt Delaying Millennial Homeownership by 7 Years
NAR Research’s new survey out today on millennial student debt offers up some sobering news that has both implications for the housing market and overall economy. Consider the key findings highlighted below. Millennials are typically carrying a student debt load ($41,200) that surpasses their annual income ($38,800) 83% of the millennial non-homeowners believe student debt has… Continue Reading Student Debt Delaying Millennials’ Life
Smaller commercial properties in secondary markets are still attracting buyers at good prices, but demand for big-market mega-properties appears to be easing, NAR second-quarter data suggest. Large markets saw a 5 percent annual decline in sales, while smaller markets saw a sales boost of 4 percent. “Shrinking cap rates and the higher interest rate environment… Continue Reading Small Markets See 4% Gain in Commercial Property Sales
By Patti Stern, PJ & Company Staging and Interior Decorating Has your property been on the market for months with little buyer interest? With a competitive fall market ahead, it may help to reassess the condition of your home, make necessary updates, then re-list a new and improved staged property to generate new buzz and… Continue Reading What to Do if Your Home Doesn’t Sell
At the national level, housing affordability is up from last month but down from a year ago. Mortgage rates increased to 4.14 percent this July, up compared to 3.77 percent a year ago. Housing affordability declined from a year ago in July moving the index down 8.1 percent from 160.6 to 147.6. The median sales… Continue Reading July 2017 Housing Affordability Index
Hurricanes, copyright, retail, hygge, moving, design, archaeology, and rare animals. When the media tells you not to go outside during extreme weather, then goes out into extreme weather… Who owns the rights to the photo when a monkey takes a picture with an unattended camera? How will retail stores adapt to the changing needs of… Continue Reading What We’re Reading: September 11-15
WASHINGTON (September 14, 2017) – The U.S. Senate today approved the nomination of Pam Patenaude as deputy secretary at the Department of Housing and Urban Development. Following is a statement from NAR President William E. Brown on the vote: “Pam Patenaude is the right choice for deputy secretary, and Realtors® are pleased to see her… Continue Reading Pam Patenaude Right Choice for HUD Deputy Secretary, Say Realtors®