National News

Seattle housing market among most valuable in U.S. despite local decreases

Seattle’s housing market ranked as the eighth-most valuable in June with a total dollar value of $1.076 trillion.

Mortgage rates hit nearly 20-year high, cause home sales to tumble

Canceled home-sales contracts hit their highest rate in almost a year as skittish homebuyers blanche at mortgage rates that are the highest they’ve been in more than 20 years

3D home tours, customization and other keys to reaching today’s new-construction buyers

One of the biggest hurdles facing residential builders is raising awareness of their projects among prospective buyers, according to Zillow’s recently released new-construction consumer housing trends report.

High housing costs dampen homebuyer demand

Those looking to buy a house will be paying a premium as inventory continues to be an issue.

NAR President Kenny Parcell resigns amid reports of sexual harassment

Kenny Parcell has resigned as president of the National Association of REALTORS® following a recent bombshell report by the New York Times into allegations of sexual harassment within the organization.

How agents are working around the cyberattack that shut down MLS access in parts of 12 states

MLS freeze strikes agents in Florida, Massachusetts, Indiana, New York, California and elsewhere.

Housing starts rebound in July after June slump 

Single-family home permits and completions, meanwhile, also rose, according to the U.S. Census Bureau and the U.S. Department of Housing and Urban Development. 

Nearly half of homeowners now are considered ‘equity-rich’

Homes where the loan-to-value ratio is 50% or lower — equity-rich homes — are on the rise, which is good news for homeowners.

Monthly mortgage payments up nearly 20% from 2022

Meanwhile, July’s home sale prices had their highest increase since November.

NAR launches podcast highlighting Realtor safety

Set to debut on July 17, “Drive with NAR: The Safety Series” will be hosted by former real estate agent and expert, Tracey Hawkins.

Former employee sues NAR, alleges discrimination by President Kenny Parcell

The National Association of REALTORS® has been named in a new lawsuit by Janelle Brevard, the organization’s former chief storyteller. NAR President Kenny Parcell is named multiple times in the complaint.

Why the current market is toughest on first-time buyers

Price hikes are slowing down and inventory is up — generally — but less expensive homes are bucking larger market trends. According to Zillow, the price of bottom-tier homes increased 8% year over year, while bottom-tier inventory increased just 1%.

The new American luxury home, according to the National Association of Home Builders

According to the NAHB, The New American Home® represents the latest in luxury real estate. It was unveiled at their recent tradeshow.

Guaranteed Rate launches new reverse mortgage training for loan officers

Guaranteed Rate is adding more support systems and training for loan officers to boost its reverse mortgage program.

Mortgage rates decline for fourth consecutive week

This was the fourth week in a row of declines, leaving prospective buyers hopeful for sustained low rates throughout spring homebuying season.

Multigenerational homebuying and mortgage-readiness fueling Latino homeownership rates

“Latinos are more mortgage ready. Latinos have made strides in income and are more educated in the homebuying process,” said Nidia Fromenta Peguero of Century 21 North East in Danvers, Massachusetts. “They don’t want to rent anymore.”

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