The Justice Department’s original complaint against the National Association of Realtors, filed Nov. 19, 2020, alleges that the association enforced rules and policies that illegally hampered competition in residential real estate services.
Real estate agents are crediting educational offerings — both in-person and virtual/on-line learning — for boosting their business success, according to a recent member survey conducted by Seattle King County REALTORS®.
International buyers purchased 107,000 residential properties from April 2020 through March 2021, marking a 31% decline from the 154,000 residences bought the previous year.
The association endorsed a letter to Seattle City Council that says parishioners in communities of color will “suffer under the weight of soaring rents and unequal access to housing.”
“May’s strong increase in transactions — following April’s decline, as well as a sudden erosion in home affordability — was indeed a surprise. The housing market is attracting buyers due to the decline in mortgage rates, which fell below 3%, and from an uptick in listings.” — NAR chief economist Lawrence Yun
The COVID pandemic has caused a shakeup in where, and how, many people work. That has helped propel a thriving housing market.
Year over year, however, pending home sales were up 57.1%, the NAR said, citing its monthly Pending Home Sales Index.
Existing-home sales slid for the third month in a row in April, declining 2.7% from March to a seasonally adjusted annual rate of 5.85 million, according to the National Association of Realtors.
A recent NAHB survey shows that regulatory costs imposed by the government account for $93,870 (or 23.8%) of the current price of new homes.
Builder confidence was steady in May, carrying over April’s reading of 83 for another month, according to the most recent National Association of Home Builders/Wells Fargo Housing Market Index.