The housing market in 2023 was brutal. Mortgage approvals and home sales hit a 30-year low as mortgage rates soared and housing inventory dwindled. But according to new data from ICE Mortgage Technology, a record number of first-time homebuyers took out conventional loans last year despite the slowdown. In all, just 4.3 million mortgages were… The post ICE: First-time Homebuyers Made Up 55% of Agency...
2024
Above, Budge Huskey Nearly two weeks ago, the National Association of REALTORS® announced it had entered into a settlement agreement with the class action plaintiffs in what is known as the Burnett vs NAR case, pending final approval by the court. The basis of the suit is rooted in the most common way in which… The post Op-Ed: Debunking the Myths of the NAR Settlement appeared first on...
Above, Art Carter The biggest change coming out of the National Association of REALTORS®’ (NAR) settlement might be most felt by agents, but practically, it is all about the MLS. Starting in July, offers of compensation can no longer be communicated in any way on MLS platforms. That change may or may not have the… The post CRMLS CEO Talks New Rules, NAR Settlement and Supporting Buyer Agents appeared...
In the wake of the National Association of REALTORS®’ (NAR) March 15 agreement to settle its legal fight against a flood of lawsuits that have roiled the industry over the last five years, paying $418 million in damages and agreeing to eliminate its guidance around commissions, real estate professionals across the board are sharing their… The post Real Estate Reacts! (Part 2) NAR Settlement Views From...
Editor’s Note: Social Skills is a bi-monthly feature in RISMedia’s Daily News focused on social media and digital marketing tips, trends and solutions for agents and brokers. Instagram is undoubtedly one of the most popular platforms for building connections and attracting potential clients to your business. With its visual appeal and interactive features, Instagram offers… The post Social Skills: 6...
According to OneKey® MLS (which covers southern regions of New York State such as Long Island, NYC and Westchester County), the regional, single-family, closed median sale price was $650,000 in February 2024, a year-over-year 10.5% increase over the price of $588,500 from February 2023. Further details: For condominiums, OneKey MLS reported a closed median sale… The post New York Single Family Home...
In the latest RISMedia webinar—“Fundamentals of Success in 2024”—panelists Rick Haase, president of United Real Estate and chief operating officer of United Real Estate Group, and Lennox Scott, the third-generation chairman and CEO of John L. Scott Real Estate, discuss what brokers can do to continue to grow their businesses in 2024 and remain profitable… The post Webinar Recap: Paths to...
HomeServices, as the last remaining defendant still fighting the two oldest and most advanced commission lawsuits, will likely have an outsized say in the timing of a potential trial—and appears to have settled on a date. According to a filing in federal court on Monday, March 25, the company is aiming for a trial starting… The post HomeServices Targets New Trial Date; Keller Williams Charts Path...
Consumer confidence saw little movement in March, falling slightly from 104.8 in February to 104.7, according to the latest data from The Conference Board. This follows a large drop in February, which was a shock after January’s two-year high. “Confidence rose among consumers aged 55 and over but deteriorated for those under 55,” said Dana… The post Consumer Confidence Sees Little Change in March...
The S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index, covering all nine U.S. census divisions, reported a 6% annual gain in January, up from a 5.6% rise in the previous month. The data released March 26 shows that three out of the 20 major metro markets reported month-over-month price increases. The 10-City Composite showed… The post Case-Shiller: Home Prices Continue to Trend Upward In...