National News

Apartment construction surges nationwide

Seattle ranked No. 12 among major metro areas, with more than 12,800 apartments expected to be completed in 2024. 

Michigan agents sue NAR, claim membership requirement to access MLS violates federal law

The lawsuit criticizes NAR’s new rules in the wake of its legal settlement.

What you need to know when NAR’s new rules start Aug. 17

There are some nuances in NAR’s new rules that are important to know for buyer’s brokers, seller’s brokers or their clients.  

Average mortgage rate drops to lowest level in more than a year

The average 30-year fixed mortgage rate dropped more than a quarter point since last week.

Pending home sales regain upward momentum in June 

The National Association of REALTORS® said its Pending Home Sales Index rose 4.8% month over month. 

Housing data still leans in favor of sellers, REALTORS® Confidence Index shows

Just 13% of respondents expect an increase in buyer traffic in the next three months.

Guaranteed Rate rebrands itself as Rate

Guaranteed Rate has rebranded itself simply as Rate and unveiled a new logo, the mortgage company announced Tuesday.

U.S. housing deficit grows to about 4.5 million homes

The U.S. housing shortage grew to about 4.5 million homes in 2022, an increase from 4.3 million the previous year, according to Zillow.

Guaranteed Rate raises more than $1 million for military nonprofits

The money raised will go to nonprofit organizations that support the U.S. military community.

Northwest MLS opts out of NAR’s commissions lawsuit settlement

“NAR’s proposed settlement agreement largely duplicates the rules and practices in place in NWMLS’ service area for several years,” NWMLS said.

Case-Shiller: Home-price index hits all-time high in March; Seattle sees 7.8% gain 

The S&P CoreLogic Case-Shiller U.S. National Home Price Index has hit a new record for six of the last 12 months, as demand remains strong in the face of tight inventory.

VA to temporarily lift ban on buyer agent commissions

VA Deputy Director of Policy Michelle Corrdion announced that the department would temporarily lift its ban.

New-home sales decline in April 

At the same time, the median price of a new home sold in April declined as well. 

Donald R. Horton, founder of nation’s largest homebuilder, dies at 74

Horton served as chairman of D.R. Horton Inc. since it was formed in July 1991.

Housing starts rebound in April after March slump 

New-home construction jumped 5.7% month over month after a soft March, according to the U.S. Census Bureau and the U.S. Department of Housing and Urban Development. 

Hotels overtake offices in residential conversions

According to a new report from RentCafe, hotels have overtaken offices as the most likely spaces to be converted into new apartments.

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