Tag: News

Slowdown in Home Prices

The third quarter may have marked the end of price surges as higher mortgage rates put a damper on projections for property appreciation. Read more from NAR’s latest report. Home prices continued to climb in the third quarter of this year, but the upward trend may finally be coming to an end, according to the …

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Stabilizing Economy Holds Key to Reviving Home Sales

October’s lower inflation rate is a welcome sign for a housing market that’s seen steady declines in 2022. A recent report showing that the rate of inflation declined in October is good news for the real estate industry, and possibly a bellwether of declining mortgage rates in coming months, Lawrence Yun, chief economist for the …

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Hope for Turnaround After Contract Signings Fall Again

Pending home sales continued to fall in October as higher mortgage rates shook buyer confidence. Read more from NAR’s latest home sales report. Pending home sales fell for the fifth consecutive month in October as rising mortgage rates brought many housing markets to a halt. But now that rates show signs of stabilizing, economists say …

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Real Estate Wins in Government Spending Package

The omnibus bill cleared Congress on Friday and now goes to President Joe Biden’s desk for his signature. Congress gave final approval Friday to a bipartisan bill to fund the government through Sept. 30, 2023, clearing the last major piece of legislation for the year. The bill now goes to President Joe Biden for his …

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Cooling Inflation Boosts Home Affordability

As the economy improves, mortgage rates could dip as low as the 4% range, bringing buyers back to the market. The inflation rate has been calming in recent months, contributing to falling mortgage rates through the holidays. Consumer prices are still running well above the typical 2% inflation rate, but November’s level of 7.1% was …

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End Rate Hikes

The Fed today would do well to consider the wisdom of Wayne Gretzky. Mortgage rates fell on the day Silicon Valley Bank went bankrupt. In times of panic, financial market investors seek out the safest asset. Nothing is more secure than U.S. government bonds; they will be paid. There are, however, interest rate risks that …

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Good Time for Investors to Unload

As rental rates slow, owners may consider returning inventory to the market. Real estate investors have done well. Rents have risen and home price appreciation has been quite exceptional. In the past three years, the typical rental rate and typical home price have soared by 16.4% and 35.5%, respectively. Over the past five years, those …

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NAR Economist: ‘Housing Recession Is Over’

Contract signings picked up the pace last month, and home buyers are increasingly facing multiple offer situations. NAR releases its housing forecast for the remainder of the year and 2024. Pending home sales rose slightly in June, and the latest indicators are showing a housing market on the mend. Median existing-home sales prices in June …

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New, Existing Home Supplies Diverge

Homebuilders are providing options buyers can’t find in the existing-home sales market. Newly built homes account for a small share of the home sales market, generally around 10%. But builders have grown that percentage this year and will make further gains in 2024. Even with higher mortgage rates, new-home sales are rising because builders are …

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Mortgage Rates Cool Off, Settle in 6% Range

Borrowing costs have fallen over the last two months. Mortgage rates are ringing in the new year much lower than their near-8% peak this past fall. The 30-year fixed-rate mortgage has decreased for the past nine weeks, though breaking for a slight uptick this week to reach 6.62%, Freddie Mac reports. “The overall trajectory of …

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Web Battles Raise Uncertainties

Privacy, accessibility, pay-to-play—engaging home buyers and sellers online is getting complicated. The World Wide Web is no longer the Wild West. Changing rules on data privacy, accessibility for disabled people, and net neutrality are throwing hurdles in your efforts to reach customers online. In May, a European Union law took effect that is changing what’s …

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Trademarked Places and Your Marketing

Incorporating a community name into your marketing can put you at risk. Imagine you’re a real estate agent in Cold Mountain, N.C., using the tagline “Your Cold Mountain Real Estate Connection” to market your services. You receive a cease and desist letter from an enterprising developer who’s registered a federal trademark for the term “Cold …

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