The Consumer Price Index (CPI) was up 0.2% from June to July 2024 and up 2.9% from a year ago, according to the latest data from the U.S. Bureau of Labor Statistics. The Index measures the costs of goods and services across the American economy so as to track inflation levels; as such, it is… The post Latest CPI Data Shows Lowest Inflation Since 2021 appeared first on...
August 2024
In real estate, being a “Futurist” means always looking ahead to move the industry forward. Being an “Influencer” means inspiring others through new perspectives and guidance. Whether it’s advocating for better standards and practices to build a better industry or sharing expert insights to the masses, those in our industry who demonstrate these qualities should… The post RISMedia’s...
Above: Liz Hogan, Michael LaFido, Riezl Baker, Michael Altneu Working with affluent buyers requires a unique set of skills and knowledge—and a commitment to go above and beyond to ensure that high-net worth clients get the personal, hands-on experience they’re looking for. With continued growth expected in the luxury sector through the remainder of 2024… The post Ask the Newsmakers: Succeeding in...
There are signs that the market is gradually heading towards more balance across much of the Mid-Atlantic, according to new data from Bright MLS. The Bright MLS July 2024 Housing Report found that new listings are up 5.5% year-to-date, much stronger than 2023. That the number of new listings is higher than the number of… The post REPORT: Mid-Atlantic Housing Market Moving Toward Balance appeared first on...
In an upcoming keynote presentation at RISMedia’s CEO & Leadership Exchange, Bright MLS Chief Economist Lisa Sturtevant will provide an update on economic and housing market trends as we head into the last quarter of 2024. Sturtevant will discuss the key factors we need to watch in order to better understand where the market is… The post Housing Market Outlook: What to Pay Attention to in Uncertain...
The National Association of REALTORS®’ (NAR) latest quarterly report shows that in Q2 2024, single-family existing-home sales prices rose in 89% of metro areas measured—a whopping 199 out of 223 metros measured by NAR—down from 93% in Q1. According to the report, the national median single-family existing-home price also rose, spiking 4.9% from last year,… The post Report: 89% of Metros Saw Home...
Not homesellers, not homebuyers, not the Department of Justice (DOJ), but real estate agents themselves are now suing the National Association of REALTORS® (NAR) for alleged conspiracy and antitrust behavior, focused on the requirement that agents join NAR and local REALTOR® associations to access the MLS. Filed yesterday in federal court in Michigan by two… The post Brokers Sue NAR, Local Associations...
The National Association of REALTORS®’ (NAR) new rules on offers of agent compensation kick in August 17. That’s when offers of agent compensation can no longer be included with listings on the Multiple Listing Service (MLS). Additionally, buyer agents must have written buyer representation agreements in place before taking their buyer clients to tour homes.… The post Communicating Agent...
In a second quarter earnings report August 12, Fathom Holdings, which includes flat-fee brokerage Fathom Realty, the tech-focused, full-service brokerage under its corporate umbrella, trumpeted a 12% agent count rise from a year ago, to 12,224, even with high mortgage rates and home prices lowering its transaction volume by 8%. Fathom Holdings CEO Marco Fregenal… The post Fathom Trumpets Solid...
Interest rates are critical in the real estate market, especially in selling condominiums. Understanding this impact can help buyers, sellers and investors make informed decisions. Introduction to interest rates and condo sales Interest rates are the cost of borrowing money, typically expressed as an annual percentage of the loan amount. They influence the affordability of… The post The Impact of...