Real Estate News Today

Pending Home Sales Descend 3.9% in April The latest contract signings mark six consecutive months of declines and are at the slowest pace in nearly a decade. Media Contact:  Quintin Simmons 202-383-1178

NAR Statement: Sandra Thompson Confirmed to Lead FHFA Sandra Thompson’s talents and experience will benefit the enterprises, homeowners and home buyers, and the mortgage financing ecosystem. Media Contact:  Patrick Newton 202-383-1290

AuthorSteph Matarazzo.  Date: May 25, 2022 2:48 am Appraisal contingencies are put in place to protect the buyer from making a bad deal unknowingly. This provision allows the buyer to walk away from the contract if the appraisal, the decided value, of the home comes back lower than the agreed

AuthorFE Real Estate Experts.  Date: May 24, 2022 8:09 pm Most people have an idea of what they would want in a dream house. Unfortunately, they are not always easy to get. Having bad credit can do more than make the buying process difficult, it can bring it to a

As a record share of homebuyers move to different parts of the country, prices in popular destinations like Miami and Phoenix have shot up. But buyers can still turn to hotspots like Virginia Beach, San Antonio and Bakersfield to find homes priced below the national median. Thirty-two percent of homebuyers

The number of homes for sale shrank at its slowest pace in April since the start of the pandemic. Home sales fell and price growth slowed as soaring mortgage rates prompted more buyers to throw in the towel. The housing market turned a corner in April as the inventory crunch

Call for More Inclusive Access to Homeownership Households of color continue to experience disproportionate challenges in pursuit of the American Dream and its promised benefits. Media Contact:  Patrick Newton 202-383-1290 Mortgage Financing

That’s $260 per month for the typical homebuyer—the largest savings since at least 2015. As mortgage rates surge, demand for adjustable-rate mortgages is on the rise because they typically have lower interest rates than 30-year fixed loans. The typical homebuyer could save an estimated $15,582 over five years, or roughly

Existing-Home Sales Retract 2.4% in April Existing-homes sales fell again slightly in April, with two regions of the U.S. posting gains and the other two regions recording a dip in sales. Media Contact:  Quintin Simmons 202-383-1178

AuthorAndrew Te.  Date: May 18, 2022 9:03 pm The average realtor commission rate in Michigan for 2022 is about 6%. This is higher than the national average of 5.49%. The post What is the Average Realtor Commission in Michigan for 2022? appeared first on FastExpert.

AuthorAndrew Te.  Date: May 17, 2022 5:58 pm You own a home or property in Orlando, Florida that you are ready to sell. You don’t want some long-drawn-out process of waiting and back and forth, you just want it done. One option is to list at a super low price

The homeownership rates for both Black and white families rose slightly over the last 10 years, with part of the increase taking place during the pandemic.  The racial homeownership gap persists. The homeownership rate for Black families rose only slightly over the last decade, with part of the increase taking

NAR Statement on President Biden’s Housing Supply Plan NAR welcomes the administration’s work on this effort and encourages policymakers to look at comprehensive action. Media Contact:  Patrick Newton 202-383-1290

Sky-high prices, loan-fee increases and financial-market weakness are putting a dent in demand for vacation homes, which soared during the pandemic. There’s still more demand for second homes than there was before the pandemic. Demand for vacation homes is way down after last year’s pandemic-driven boom.  Mortgage-rate locks for second

AuthorAndrew Te.  Date: May 13, 2022 1:22 am What is a bump clause? A provision that allows the original buyer to match any offer made by a subsequent buyer. Learn more about real estate bump clauses here! The post What is a Bump Clause in Real Estate? appeared first on

Demand for homes is falling, but homes are still selling fast as the buyers who remain rush to beat rapidly rising mortgage rates. The typical home for sale found a buyer in 15 days, the fastest pace on record, during the four-week period ending May 8. Meanwhile, pending sales fell

NAR Applauds Julia Gordon FHA Commissioner Confirmation Julia Gordon’s accomplished career in real estate has prepared her to lead the FHA at a time when housing in America is at somewhat of a crossroads. Media Contact:  Wesley Shaw 202-383-1193

AuthorSteph Matarazzo.  Date: May 12, 2022 1:31 am Zillow is a free site where users can list homes and properties for sale or rent. Zillow gets roughly 36 million unique monthly visitors and ranks as the most popular real estate website in the US. But it’s free to use, so

AuthorSteph Matarazzo.  Date: May 10, 2022 6:24 pm If you’re serious about buying a home, you probably know how difficult it can be. When the market is hot a buyer might make multiple offers before getting a signed contract. So how can you make your offer more attractive to home sellers

Homebuying is as competitive and costly as ever as soaring mortgage rates make the market less inviting for many would-be sellers. The share of home sellers who dropped their asking price shot up to a six-month-high of 15% for the four weeks ending May 1, up from 9% a year