Real Estate News Today

A few weeks after the new NAR rules went into effect, Redfin agents report some homebuyers and sellers are confused about fee agreements and who is responsible for paying the buyer’s agent. Once they understand the guidelines, most sellers are still willing to cover the buyside commission–but negoti

It’s official – we’re taking our Redfin Next agent pay plan nationwide! Starting October 27th, all Redfin agents will earn competitive splits as high as 75%, have virtually all business expenses covered, and get technology, support, benefits and customer introductions from Redfin.com, the #1 brokera

A glass half-full/half-empty August jobs report failed to point the Fed clearly to a 25 or 50 bps cut on September 18. Rates will stay fairly steady until markets receive clearer signals from the Fed on their intended path. The Bureau of Labor Statistics reported that 142,000 jobs were added in Augu

In San Jose, the typical recent grad would need to spend 28% of their income to rent the median priced 2 bedroom apartment with a roommate. That’s down from 31% in 2023, which was considered unaffordable because it was above the 30% affordability threshold. The story is similar in San Francisco and

Declining mortgage rates have pushed the median U.S. housing payment down to $2,534, roughly $300 below April’s record high. But many homebuyers are still sitting on the sidelines. Some are hoping mortgage rates will fall further once the Fed cuts interest rates in a few weeks, and others are waitin

AuthorAmanda Dodge.  Date: September 4, 2024 10:12 pm Property values are one of the most important factors in real estate. Property values can guide your actions if you are ready to enter the real estate market or are still deciding whether you want to buy, sell, refinance, or invest.  Market value

AuthorAmanda Dodge.  Date: September 4, 2024 10:05 pm In 2013, interest rates hovered around 3.5% and then plummeted into the 2% range during the COVID-19 pandemic. This made houses significantly more affordable because buyers didn’t have to add a large portion of interest to their monthly payments.

Condo inventory is soaring and pending sales are dropping in major Florida and Texas metros like Miami, Jacksonville, Austin and San Antonio, causing prices to decline. Surging HOA fees, high insurance costs and destructive natural disasters are making buyers question the feasibility of owning a con

NAR Honors 2024 Good Neighbor Awards Finalists The Good Neighbor Awards underscore the profound impact real estate professionals provide in their communities beyond the transactions and titles. Media Contact:  Spencer High 202-383-1051

AuthorAmanda Dodge.  Date: September 2, 2024 6:54 am One of the most nerve-wracking parts of buying a house is the home inspection. During this appointment, an experienced professional will review every aspect of the house and identify potential issues with the property. The inspection is not a pass

Tether RE Wins 2024 Pitch Battle Competition Tether RE is a startup that provides a suite of tools to enhance the safety and productivity of real estate professionals. Media Contact:  Spencer High 202-383-1051 Safety, Real Estate Technology

Pending Home Sales Dropped 5.5% in July Compared to one year ago, pending home sales increased in the Northeast but decreased in the Midwest, South and West. Media Contact:  Lauren Cozzi 202-383-1178

Homebuyers need to earn roughly $80,000 to afford the median-priced starter home, up 4.4% from last summer and only about $500 below the all-time high. That makes starter homes just barely affordable to families earning the median U.S. income, and unaffordable to families earning less than the media

Pending home sales posted their biggest decline in nearly a year, despite the median U.S. housing payment dropping to its lowest level in five months. Would-be homebuyers are waiting for clarity about the NAR settlement, the presidential election and whether mortgage rates will fall more.  Pending h

The typical homebuyer put down 18.6% of the purchase price, up from 15% a year ago. Nearly 3 in 5 homebuyers put down more than 10% of the purchase price, one of the highest shares on record.  All-cash purchases made up just over 30% of all sales, while FHA loans made up the lowest share of mortgage

AuthorAmanda Dodge.  Date: August 28, 2024 6:41 am One of the first things buyers consider when starting the house hunting process is the number of bedrooms. They usually have a minimum bedroom requirement and an ideal number they would like in their homes. An extra bedroom can be used as guest spac

AuthorKelsey Heath.  Date: August 28, 2024 6:33 am They are homes, apartments, commercial buildings, or land the owner has vacated without intention of returning. Alternatively, they can be properties on which the owner hasn’t paid their property taxes and are deemed effectively abandoned by the cou

The mortgage rate lock-in effect is prompting many homeowners to stay put, contributing to America’s housing shortage. But the lock-in effect is slowly easing because eventually, people have to move; 86% of homeowners with mortgages have interest rates below 6%, down from 91% in 2023 and a record 93

Pending starter home sales grew 10% in July year over year, while other price brackets fell. The median price for a U.S. starter home climbed to $250,000 in July, but price growth was slower than for other price brackets. Starter homebuyers are moving off the sidelines as mortgage rates fall and inv

Federal Reserve Chair Jerome Powell told the central bank’s annual gathering on Friday that “the time has come for policy to adjust,” all but confirming the Fed will cut rates at its next policy meeting on September 18.  Takeaway: Rate cuts will likely start on September 18, but the size and pace wi