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Real Estate News!!!

Latest Realty News from NAR

HOME Survey: Economic and Financial Outlook, Attitudes About Home Buying and Selling on the Rise

WASHINGTON (September 25, 2017) — Existing-homes sales have retreated in four of the past five months, but new survey findings from the National Association of Realtors® indicate it is not because of a lack of confidence from consumers about buying and selling a home, or based on their views about the direction of the economy and their finances.

That’s according to NAR’s third quarter Housing Opportunities and Market Experience (HOME) survey1 ,... Read More

Existing-Home Sales Subside 1.7 Percent in August

WASHINGTON (September 20, 2017) — Existing-home sales stumbled in August for the fourth time in five months as strained supply levels continue to subdue overall activity, according to the National Association of Realtors®. Sales gains in the Northeast and Midwest were outpaced by declines in the South and West.

Total existing-home sales1, https://www.nar.realtor/topics/existing-home-sales, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, retreated 1... Read More

Student Debt Delaying Millennial Homeownership by 7 Years

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 joint study on millennial student loan debt released today by the National Association of Realtors® and nonprofit American Student Assistance®. The survey additionally revealed that student debt is holding back millennials from financial decisions and personal... Read More

Pam Patenaude Right Choice for HUD Deputy Secretary, Say Realtors®

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 nomination win approval from the Senate.

“She has a big task ahead. Home prices continue to rise in an environment of ever-tightening mortgage credit, which means buyers are struggling to keep pace. That... Read More

Homeownership a Common Interest, Deserves Protection in Tax Reform Debate

Iona Harrison (pictured center), chair of NAR’s Federal Taxation Committee, testifies before the Senate Finance Committee on tax reform. 

WASHINGTON (September 14, 2017) – Tax reform done right could yield savings and simplification that benefits average Americans, but history shows that misguided reforms can pose significant threats to the economy.

That’s the message the National Association of REALTORS® brought to Congress today as Iona Harrison, chair of NAR’s Federal Taxation Committee,... Read More

Outlook Remains Bright for Commercial Real Estate Despite Price Plateau

WASHINGTON (September 12, 2017) — Commercial real estate price growth in large markets is expected to flatten over the next year, but strong leasing demand and investor appetite in smaller markets should keep the sector on solid ground, according to the latest National Association of Realtors® quarterly commercial real estate forecast, https://www.nar.realtor/reports/commercial-real-estate-outlook.

Backed by the ongoing stretch of outstanding job creation in recent years, national office vacancy rates are forecast by... Read More

Realtor® Good Neighbor Award Finalists Honored for Their Tireless Efforts to Give Back

WASHINGTON (September 5, 2017) – The National Association of Realtors® has honored 10 Realtors® as finalists of REALTOR® Magazine’s 2017 Good Neighbor Awards. This award honors Realtors®who make an extraordinary impact on their community through volunteer work.

This year marks the 18th year the Good Neighbor Awards program has recognized Realtor® volunteers. Those being honored have donated their time and passion to improve and enrich the lives of the people in their communities.... Read More

With National Flood Insurance Program Expiring Soon, Realtors® Sound the Alarm

WASHINGTON (September 5, 2017) – The National Flood Insurance Program is now less than one month away from expiration, raising concerns that homeowners, consumers, and commercial property owners could soon find themselves either unprotected or unable to get a mortgage.

In July, the National Association of Realtors® announced it had reached an agreement with the U.S. House Financial Services Committee on key... Read More

Pending Home Sales Lessen 0.8 Percent in July

WASHINGTON (August 31, 2017) – Pending homes sales stumbled in July for the fourth time in five months as only the West saw an increase in contract activity, according to the National Association of Realtors®.

The Pending Home Sales Index,*www.nar.realtor/topics/pending-home-sales, a forward-looking indicator based on contract signings, decreased 0.8 percent to 109.1 in July from a downwardly revised 110.0 in June. After last month’s decline, the index is now 1.3 percent... Read More

Existing-Home Sales Slide 1.3 Percent in July

WASHINGTON (August 24, 2017) – Listings in July typically went under contract in under 30 days for the fourth consecutive month because of high buyer demand, but existing-home sales ultimately pulled back as large declines in the Northeast and Midwest outweighed sales increases in the South and West, according to the National Association of Realtors®.

Total existing-home sales1, https://www.nar.realtor/topics/existing-home-sales, which are completed transactions that include single-family homes,... Read More

Technology, Inventory and Competition Among Firms’ Top Challenges: Realtors® Survey

WASHINGTON (August 22, 2017) – Keeping up with technology, maintaining sufficient inventory, competition from nontraditional participants and profitability are among the biggest challenges for real estate firms,  according to the National Association of Realtors® 2017 Profile of Real Estate Firms.

Conversely, for a third year in a row, the survey found the vast majority of firms have an optimistic outlook for the future of the industry’s growth. Although expectations have slightly... Read More

Home Prices Jump 6.2 Percent in Second Quarter; Eclipse 2016 High

WASHINGTON (August 16, 2017) — The headstrong supply and demand imbalances in much of the country slightly tempered the pace of sales and caused home prices to maintain their robust growth in the second quarter, according to the latest quarterly report by the National Association of Realtors®.

The national median existing single-family home price in the second quarter was $255,600, which is up 6.2 percent from the second quarter of 2016 ($240,700) and surpasses the third quarter of last year ($241,300... Read More