Home prices are continuing their long-term spell upward, with a February gain of 6.3 percent, according to the S&P CoreLogic/Case-Shiller Indices. The S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index’s 10-City Composite, which is an average of 10 metros (Boston, Chicago, Denver, Las Vegas, Los Angeles, Miami, New York, San Diego, San Francisco and […]
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NAR PULSE—Remind your agents that NAR members get discounts year-round on car rentals. Take advantage of your member benefits the next time you rent a car through REALTOR Benefits® Program partners Avis®, Budget® and Hertz® and save up to 25% off base rates. Add coupon codes for even bigger savings! Start saving today! Remind Agents […]
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March new-home sales took off, up 4 percent to 694,000, according to the U.S. Census Bureau and the Department of Housing and Urban Development (HUD). The average new-home sales price was $369,900, while the median was $337,200. New-home listing inventory was 301,000—5.2-months supply. “The March new-home sales report is consistent with our solid builder confidence […]
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Building on February’s gains—and for the second time this year—existing-home sales have strengthened, the National Association of REALTORS® (NAR) reports. March sales increased 1.1 percent to 5.6 million, but they were down 1.2 percent from the prior year. Inventory increased, as well: 5.7 percent to 1.67 million, but 7.2 percent lower than the prior year. […]
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Editor’s Note: The Commercial Broker Roundtable is a quarterly look at the issues affecting the commercial real estate market and their ramifications for residential real estate. Moderator Deena Zimmerman, Vice President, SVN Chicago Commercial Participants Felena Hanson, Founder, Hera Hub, a spa-inspired, shared workspace and business accelerator for female entrepreneurs. Diane K. Danielson, Chief Operating […]
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ATTOM Data Solutions has released its Q1 report on sales, which found homes in 54 percent of metros are at prices above their pre-recession top-out. “Rising interest rates and recently enacted tax reform that removed some tax incentives for homeownership were not enough to cool off red-hot home price appreciation in many parts of the […]
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The latest Urban Land Institute (ULI) Real Estate Economic Forecast predicts modest fluctuations across the board for 27 economic/real estate indicators. The three-year forecast is completed semi-annually, surveying over 48 economists and analysts at 36 real estate organizations. A leading concern? Rising interest rates. ULI forecasts interest rates to be 0.4 percent higher in 2018 […]
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The government has handed down a $1 billion penalty to Wells Fargo for abusive consumer practices related to its administering of auto insurance and extensions on mortgage rate locks. In addition to the fine, the bank has been ordered to remediate affected consumers and implement improved practices. In 2017, Wells Fargo acknowledged it had charged […]
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Who says you need “green” to get a green home? According to an analysis by realtor.com®, eco-friendliness is becoming the norm—and being a green homeowner may not be as pricey as thought. While California’s costlier markets have high concentrations of green homes, there are also affordable pockets outside the Golden State—and, in many markets, eco-features […]
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Even with increasing interest rates, closed home purchases ticked up 6 percent in March, according to Ellie Mae®’s latest Origination Insight Report. Closed refinances slumped 5 percent. Across the board, closings took 41 days in March, one day less than in February; however, purchases took 43 days, two days less than in February. Closing rates […]
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