Real Estate News Today

AuthorReal Estate Experts.  Date: July 5, 2022 10:40 pm If you are thinking of selling your home in Pennsylvania, it is important to know how much it will cost you to do so. The average real estate commission in Pennsylvania is 5.5%, the same as the national average. This means

Purchases of second homes with high flood, storm and/or heat risk surged roughly 40% over the past two years.  Many pandemic homebuyers purchased vacation homes, which are frequently vulnerable to natural disasters. In 2020 and 2021, purchases of second homes with high flood risk rose 45% from the prior two-year

Redfin economists answered questions about what’s likely to happen in the housing market as the economy stumbles.  High mortgage rates will likely keep homebuyer demand below the pandemic peak. Whether mortgage rates go up or down from here depends largely on whether inflation calms down or remains stubbornly high.  Home

A record-high share of home sellers are dropping their prices after this month’s historic mortgage-rate hike put a damper on homebuyer activity. But there are early signs that demand is leveling off. More and more, home sellers are ceding to the mounting pressure on affordability posed by this month’s rapid

AuthorSteph Matarazzo.  Date: June 27, 2022 6:51 pm If you’re in the process of buying a home, you may have heard a lot of new words thrown around. There are tons of terms you may not be familiar with like “pre-qualified,” “pre-approved,” and “approved.” Before getting into home buying, you’ll

In response to Friday’s U.S. Supreme Court decision to overturn Roe vs. Wade, here is Redfin’s statement on its commitment to ensure its employees’ access to medical care: Redfin’s policy has long been to provide every employee equal levels of support and health care, regardless of where they live. We

Pending Home Sales Edge Higher 0.7% in May Pending home sales crept higher in May, ending a six-month streak of declines. However, year-over-year contract activity slid across the U.S. Media Contact:  Troy Green 202-383-1042

High home prices and mortgage rates, along with economic uncertainty and an increase in second-home loan fees, have put an end to the pandemic-driven vacation-home boom.  Demand for vacation homes has fallen below the pre-pandemic baseline for the first time in two years, with mortgage-rate locks for second homes down

Pending sales and Redfin’s Homebuyer Demand Index posted their largest year-over-year declines in over two years. Homebuying demand pulled back further as mortgage rates reached their highest level in over 13 years. Home tours, offers and other requests for agents’ help, as measured by The Redfin Homebuyer Demand Index, posted

The Hispanic-white homeownership gap is narrowing as the largest group of Hispanic Americans ages into prime homebuying years. Nationwide, 49.1% of Hispanic families own their home. That’s essentially unchanged from 48.9% just before the pandemic began, but up from 46.3% a decade ago. As the Hispanic homeownership rate increases, the

Call to Apply for iOi Summit Pitch Battle Competition The Pitch Battle competition is an opportunity for real estate technology startups to showcase their innovations to thousands of industry influencers. Media Contact:  Spencer High 202-383-1051 Technology

Existing-Home Sales Fell 3.4% in May At $407,600, the median existing-home sales price exceeded $400,000 for the first time in May 2022, and represents a 14.8% increase from one year ago. Media Contact:  Troy Green 202-383-1042

Sellers are adjusting their expectations as they realize many buyers are no longer able to afford the type of home they could have before mortgage rates shot up. An increasing share of home sellers are lowering their asking price as rapidly rising mortgage rates cut into buyers’ budgets and homebuying

A buyer on a $2,500 budget can afford a $400,000 home with a 6% mortgage rate. That’s compared to a $517,000 home with a 3% mortgage rate. A homebuyer on a $2,500 monthly budget has lost nearly $120,000 in spending power since the end of last year as mortgage rates

AuthorReal Estate Experts.  Date: June 19, 2022 11:23 pm Flipping houses can be a very profitable real estate investment strategy, but it’s not without its risks. If you’re thinking about getting into the house-flipping business, there is a lot to take into consideration. By the end of this article, you

AuthorReal Estate Experts.  Date: June 19, 2022 10:25 pm With the real estate market’s recent upheaval, many people are wondering whether now is a good time to buy a home. Although market conditions vary by location, in general, prices are lower and there are more homes on the market than

AuthorReal Estate Experts.  Date: June 19, 2022 9:41 pm Impressions are everything in sales. An open house is your chance to make a great first impression on potential homebuyers. You want to show you are a gracious, thoughtful host who knows how to make people feel at home. A big

AuthorReal Estate Experts.  Date: June 19, 2022 8:59 pm Thought leaders are people who are highly respected in their field for their knowledge and expertise. They are the people that other professionals go to for advice, and their opinions carry a lot of weight. To be successful in the real

AuthorReal Estate Experts.  Date: June 19, 2022 6:36 pm Branding is important for any business, but especially so in the world of real estate. In a profession where your personal reputation is everything, a strong brand can make all the difference. A well-crafted brand will help you stand out from

AuthorReal Estate Experts.  Date: June 19, 2022 5:55 pm Are you a new real estate agent who’s finding it difficult to get started? Maybe you’ve been trying to network, but haven’t had much success. Don’t worry – you’re not alone. Most people find networking difficult, especially when they’re starting out.