The whole neighborhood watches in awe as a comically large pair of shiny, silver scissors slice through a ruby red ribbon, and a brand-new restaurant is officially in business. A once quiet area where the owner of the only diner for miles knows every customer’s order as “the usual,” will now undergo some major changes. …
The latest report from the National Association of Realtors® (NAR) on existing-home sales today revealed a 1.5% month-over-month increase in September, and a 4.1% year-over-year increase in sales–key factors that could signal growing buyer confidence and demand as mortgage rates ease. “As anticipated, falling mortgage rates are lifting home sales,” said NAR Chief Economist Lawrence…
Prior to the summer of 2024, home sellers were typically responsible for paying the commission for both their own agent and the buyer’s agent, and both sides of the transaction usually involved a traditional full-service agent. Agent commissions also remained (somewhat) consistent, generally hovering around 5% – 6% of a home’s sales price. Following the…
According to the National Association of Homebuilders (NAHB)/Wells Fargo Housing Market Index (HMI), which gauges builder perceptions of current and future single-family home sales, homebuilder sentiment levels increased in October, as future sales expectations surpassed the 50 point breakeven mark for the first time in almost 10 months. “The HMI gain in October is a…
Mortgage rates are falling, which could be a step closer to affordable homeownership for many buyers, especially those in high-cost areas, according to online loan marketplace LendingTree. Nationally, the average rate on a 30-year fixed mortgage was 6.68% in July this year, a drop from July 2024’s 7.19%. The average calculated monthly payment across the…
The California FAIR Plan, which provides basic fire insurance to California property owners unable to obtain private insurance, has filed a proposal to increase insurance rates by 35.8%. If approved, this rate hike would begin April 1, 2026, making it the program’s largest rate increase in seven years. The California FAIR Plan alone only covers…
The Conference Board Consumer Confidence Index revealed that consumer attitudes toward current and future economic conditions dropped by 3.6 points this September, from 94.2 points in August. The Present Situation index, which is based on consumers’ assessment of current business and labor market conditions, also fell by seven points this month, from 132.4 in August. …
Following recent Federal Reserve interest rate cuts, mortgage rates are trending downwards, with about 81% of existing mortgages carrying a rate of 6% or lower. A new report from Realtor.com® revealed that metros with younger populations are positioned to benefit most from lower mortgage rates. Nationally, around 64% of all U.S. occupied homes are owned,…
The National Association of Realtors®’ (NAR) latest report released today revealed essentially unchanged sales activity, contributing to three consecutive years of sluggish home sales. August saw a slight decrease in existing-home sales from July, at just 0.2%, with a seasonally adjusted rate of 4 million homes sold. Year-over-year, the market has seen a 1.8% increase…
The monthly Housing Market Index (HMI), released by the National Association of Home Builders (NAHB)/Wells Fargo this week, came in at 32 this past August. The index measures builder sentiment on current and future single-family home sales along with buyer traffic on a scale ranging between 0 and 100. The HMI has been consistently dropping…
Buyers are purchasing more than just a home when they sign their final offer—they’re buying into the entire neighborhood, so it’s a good idea to get acquainted with it yourself to highlight all of its features to potential buyers. Read more.
