Real Estate News Today

RRF Gives $2M in Aid for Arkansas Tornado Victims The REALTORS® Relief Foundation funds will be made available to the public to assist with the Arkansas disaster victims’ housing payments. Media Contact:  Spencer High 202-383-1051

More homes are sitting on the market for at least 30 days without going under contract, as homebuying demand falters in the face of high housing costs.  More than three in five (61.9%) homes that were on the market in May had been listed for at least 30 days without going under contract. That’s up f

AuthorAmanda Dodge.  Date: June 11, 2024 7:00 pm The standard real estate process involves the homeowner making repairs and marketing the property to potential buyers. Once an offer is made and accepted, the buyers inspect the home to confirm it is in good condition before moving forward with the cl

NAR Applauds VA Home Loan Benefit Changes The VA’s revised home loan guaranty will give veterans and active-duty service members the same advantages as other buyers in the real estate… Media Contact:  Tori Syrek Veterans Affairs

The median asking rent climbed 0.8% year over year to $1,653—just $47 below the record high. Washington, D.C., Cincinnati and Chicago all saw double-digit increases. The median U.S. asking rent rose 0.8% year over year in May to $1,653—the highest level since October 2022. That’s the second consecut

A new-construction boom is contributing to listings surging to pre-pandemic levels on Florida’s west coast, cooling competition during a period when natural disasters and rising insurance costs are already discouraging homebuyers. But while high housing costs are hampering many U.S. housing markets,

AuthorAmanda Dodge.  Date: June 8, 2024 7:26 am A rental property can be a lucrative long-term investment and an opportunity to collect passive income. However, managing a property investment takes time and energy, and you might be unable to keep up with your responsibilities as a landlord. When the

The stronger-than-expected May jobs report will reverse mortgage-rate declines from the last two weeks. But ultimately, the Fed’s decision about interest rates will be decided by inflation data.   The May jobs report was hotter than expected, which is likely to drive mortgage rates up to end the wee

Joe Ventrone Honored With Lifetime Achievement Award Mr. Ventrone was recognized for the work he has done in making significant strides in addressing the nation’s critical shortage of affordable… Media Contact:  Tori Syrek

Prices are down 3% in Austin, TX, more than any other metro, as near-record housing costs push homebuyers away. Nationwide, price drops are at their highest level since November 2022, suggesting more metros may soon see sale prices decline.  Home-sale prices are declining year over year in four majo

Millennials, Gen Xers and baby boomers all ranked the overall economy as the top issue in their presidential pick. Preserving democracy was more likely than housing affordability to weigh on Gen Xers’ and boomers’ minds. More than nine in 10 (91%) adult Gen Zers say housing affordability is importan

AuthorKelsey Heath.  Date: June 2, 2024 11:15 pm When you buy a house with a home inspection contingency, you get to have the property professionally inspected before you’re locked into your contract. If the house fails a home inspection, the buyer has the option to exit the deal or renegotiate term

It’s a big day at Redfin as more than 600 of our agents were named among the country’s most successful real estate agents by RealTrends Verified! This is an independently verified ranking of the top agents based on sales compiled by RealTrends. To qualify, an agent must have closed at least 40 trans

U.S. renters are less likely to move than they were a decade ago,  as soaring housing costs have priced many out of homeownership. The rise of remote work is another factor leading more people to choose the renting lifestyle, for flexibility and convenience.  Most U.S. renters move within five years

Pending Home Sales Slumped 7.7% in April The impact of escalating interest rates throughout April dampened home buying, even with more inventory in the market. Media Contact:  Lauren Cozzi 202-383-1178

More home sellers are cutting their asking price, suggesting sale-price growth could soften in the coming months. But this week, the median sale price rose to another record high, pricing out some buyers.  Nationwide, 6.4% of home sellers cut their asking price during the four weeks ending May 26, o

The typical home in areas with LGBTQ+ housing protections costs $492,290, compared with $357,010 for the typical home in areas without protections. San Francisco and Portland, OR have the highest share of LGBTQ+ adults, yet less than 7% of homes in those places are affordable for someone on the loca

Every year, Redfin publishes a report on the diversity of our workforce. In 2023, diversity at Redfin fell, with people of color declining from 36% of our employees to 35%, compared to 42% of the U.S. population. Black employees declined from 9% of our employees to 7%, compared to 12% of the U.S. po

AuthorKelsey Heath.  Date: May 27, 2024 5:15 am Between a down payment, closing costs, and regular monthly mortgage payments, buying a home is expensive. With current home loan interest rates over 7%, the monthly mortgage payment on a $500,000 home is over $3,300 (and that doesn’t include any other

AuthorKelsey Heath.  Date: May 27, 2024 5:09 am Government-sponsored payment assistance programs provide enormous savings for eligible homebuyers, but some offer more than others. Certain professionals can purchase a home for up to 50% off the list price through the federal Good Neighbor Next Door p