Multiple-offer situations have returned with the spring buying season while distressed and forced sales are “virtually nonexistent,” the National Association of REALTORS® said.

The hire follows the December 2022 firing of the homebuilder’s senior vice president for field operations, who had been tapped to become COO on Jan. 1. 

Single-family permits also posted a gain, indicating even more new homes are headed to today’s supply-constrained housing market. 

Seattle Mayor Bruce Harrell announced that the city will award $147 million to affordable housing providers this year.

Homebuilder optimism was buoyed by continued shortages of new housing inventory, the National Association of Home Builders reported. 

Boulevard Park, with a population just over 5,000, has a median price per square foot of $222, a 61% difference compared to Seattle.

Seattle’s April average home value and pending sales rose from March as new inventory fell.

Realtors will be required to complete two hours of training every three years beginning in 2025. 

The mortgage industry decried the proposed loan-level pricing adjustment for borrowers with higher debt-to-income ratios. 

Interest rates on mortgages of all types declined last week, spurring an uptick in borrowing, the Mortgage Bankers Association reported. 

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%.

Redfin has launched a ChatGPT plug-in to help buyers find their new home, a potentially powerful tool in their arsenal as today’s homebuyers work to find the perfect home.

NAR Chief Economist Lawrence Yun said the Federal Reserve’s latest increase in its benchmark interest rate is an unnecessary threat to many small regional banks.

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

Dubbed Kings Landing, this stately waterfront property in Long Island inspires comparisons to “The Great Gatsby.” It’s listed by Ryan Serhant and Rachel King of SERHANT, in collaboration with Stefani Berkin and Robert Barr from We R New York.

The brokerage says the “business communities” — KW Operations, KW Wellness and KW Clarity — provide agents with specialized training, technology, coaching and referral opportunities.