NAR president sidesteps palace intrigue in 1st address to members
Newly installed NAR President Kevin Sears will remain in position for nearly 2 years after replacing Tracy Kasper on Monday. In a video to members he focused on legal challenges and core business
by Taylor Anderson Jan 12
Declining mortgage rates bring new-year market thaw: Redfin
Mortgage purchase applications and new listings have improved in recent weeks, thanks to a 25% decline in mortgage rates from October's peak of nearly 8%
by Marian McPherson Jan 11
65% of millennials would still buy a home if interest rates were 10%
Clever Real Estate's latest survey revealed the sacrifices millennials are willing to make to buy, including taking on higher interest rates, buying major fixer-uppers and working multiple jobs
by Marian McPherson Jan 10
Realtors fear damage to NAR brand beyond repair following Kasper exit
Members already reeling from a series of accusations and leadership changes told Inman Tracy Kasper's resignation as president after less than 5 months doesn't bode well for NAR's reputation
by Taylor Anderson Jan 10
House Hacking spiked amid COVID. In 2024, it will be a household name
Last month, Fannie Mae lowered its down payment minimum for some properties, clearing a path for investors like Alejandro and Jessicas Cuevas, who bought in Chicago with hacking in mind
by Taylor Anderson Dec 26
Rates keep falling, and buyers and sellers are springing into action
Listings and pending sales hit the highest level in roughly a year, according to a new report from Redfin. Still, a record number of contracts were canceled
by Taylor Anderson Dec 15
80% of first-time homeowners say they'll need a gift to buy again: Poll
Faced with rising prices and rates, buyers are increasingly counting on personal loans and gifts to close deals, according to a survey of 3,000 potential buyers conducted by Dig Insights and Inman
by Chris LeBarton Dec 5
Mortgage rates overtake inventory as biggest worry for agents: Triple-I
After exceeding 8% in October, rising mortgage rates overtook 'lack of housing inventory' as the top concern for real estate agents, according to the latest monthly Inman Intel Index results.
by Chris LeBarton Nov 21
New commission lawsuit targets REBNY and 26 companies in NYC
Homeseller Monty March filed suit in the Southern District of New York Wednesday, alleging REBNY rules in Manhattan kept commissions high and violated state and federal antitrust laws
by Taylor Anderson Nov 10
New startup Foyer helps first-time homebuyers with savings program
The '401(k) for homeownership' helps first-time buyers achieve their savings goals with 4.51% APY high-yield savings accounts, as well as educational tools and matching with agents and lenders
by Lillian Dickerson Oct 31
NAR to shed 1M members if shared commission banned, analysts say
A report released Oct. 4 by the investment banking firm Keefe, Bruyette & Woods forecasts commissions to decline by at least 30% as a result of ongoing threats to the real estate industry
by Taylor Anderson Oct 16
Why US consumers are souring — and what that means for housing
Maegan Sherlock, senior research analyst for John Burns, spoke with Intel about the results of the firm's latest household sentiment survey: 'I was hoping to see a new magic mortgage rate'
by Daniel Houston Oct 11
Lack of family, friend support keeps LGBTQ+ buyers behind: Redfin
Redfin survey reveals LGBTQ+ consumers disproportionately struggle with lack of family support during homebuying due to heteronormative expectations for marriage and household formation
by Marian McPherson Oct 4
Intel unpacks the startling price of entry into the US housing market
Economists, homeowners and agents broke down the alarming but true cost of buying property in 2023, telling Intel that rising rates and home prices are only the start for wallet-stretched buyers
by Marian McPherson Oct 4
Homes are no longer affordable for the average American, report says
Home prices could be reaching a breaking point, new report says, as housing affordability drops to lowest level since 2007. The median price of homes and condos is a record $351,250
by Taylor Anderson Sep 29
LGBTQ+ Real Estate Alliance touts 'Stop Hate in Real Estate' initiative
The LGBTQ+ Real Estate Alliance is partnering with the California Association of Realtors, AREAA and NAHREP to combat real estate discrimination against homebuyers from diverse communities
by Marian McPherson Sep 27
Home values fell in 21 of the 50 largest US metros in August: Zillow
Home values are now 11.4% lower in Austin, Texas, than they were in Aug. 2022, Zillow said. Nationally, prices were up slightly from July to August, and there was a small inventory uptick
by Taylor Anderson Sep 13
Investor activity keeps slowing down from pandemic-era highs
Phoenix, Las Vegas and other Sunbelt metro areas saw the biggest slowdowns in investor activity as high rates and low demand cooled activity nationwide, according to reports
by Taylor Anderson Aug 31
Pending home sales climb to 2023 high following months of declines
Pending home sales rose 0.7% from June to July, reversing 7 months of declines. However, rising rates and home prices are poised to stifle sales growth into the fall, Redfin said on Friday
by Marian McPherson Aug 25
Real estate investors believe the worst may be in the rear view
The outlook is mixed, but 'it does look like prices may have bottomed out and are on their way back up,' said CJ Patrick Company CEO Rick Sharga
by Taylor Anderson Aug 15
When handling buyer objections, preparation is key, brokers say
Buyers with doubts need to know they're being heard. A well-oiled process for responding to their objections can help, Bianca D'Alessio and Aaron West said Thursday at Inman Connect Las Vegas
by Daniel Houston Aug 11
The commission suits are headed to trial. What happens after that?
At Inman CEO Connect, Russ Cofano, James Dwiggins and Greg Robertson debated the changes that agents and brokers may see as a result of homeseller lawsuits and government interference
4 ways to improve real estate as bombshell commission suits sizzle
At Inman Connect Las Vegas, real estate broker and attorney Kendall Bonner urged the industry to be proactive instead of waiting to be legally 'bullied' into change
To win this summer, homebuyers in California are turning every stone
With some of the highest home prices in the nation, California buyers and sellers are having an abnormally difficult time managing higher mortgage rates, agents in the Golden State told Inman
by Marian McPherson Aug 4
A small home with a baby stroller in front
The annual paycheck for a 1st-time homebuyer is roughly $64,500 to afford the typical US 'starter' home in 2023 — up 13% from a year ago, according to a report from Redfin
by Ben Verde Jul 28
Texas adjusts to growing pains as outside buyers jockey for homes
With an influx of tech and entertainment giants like Tesla and Universal Studios, not to mention a rising tide of millennial buyers, Texas is bursting at the seams as agents rush to find new listings
by Marian McPherson Jul 28
New Yorkers are white-knuckling a turbulent summer buyer's market
Like the energy of its premier city, homebuyers and sellers in New York State are grappling with a rollercoaster summer, with extreme buyers' and sellers' markets taking consumers on a wild ride
by Marian McPherson Jul 21
Florida dominates list of best markets for 1st-time homebuyers
Palm Bay, Cape Coral and Tampa top WalletHub's list of best markets for 1st-time homebuyers. But a closer look at the rankings shows buyers may sacrifice quality of life for affordability gains
by Marian McPherson Jul 18
Cash is still king as Florida agents navigate 'wonkiest market' in years
As the summer housing market in Florida heats up, homebuyers and sellers are discovering a tale of 2 markets that offers opportunities for luxury buyers — and next to nothing for everyone else
by Marian McPherson Jul 14
Tiffany Pantozzi on the pleasures and peril of working while pregnant
Ahead of Inman Connect Las Vegas, Align Real Estate founder Tiffany Pantozzi told Inman she concealed her pregnancy last year out of fear clients would discount her ability to juggle the work
by Taylor Anderson Jul 10
The stories and trends that defined a whirlwind first half of 2023
Intel takes a look back at the market trends, brokerage strategies, Wall Street happenings and legal controversies that shook the past 6 months and could well define the remainder of 2023
by Marian McPherson Jul 5
Summer Cooldown: New homes will offer a lifeline for some agents
Three leading economists share what's ahead for the summer, from the continued struggle with mortgage rates to a resurgence in bidding wars and the gift of new-home sales that keeps giving
by Marian McPherson Jul 5
Compass CEO: Pandemic craze will return once mortgage rates hit 5%
Compass CEO Robert Reffkin revealed on CNBC how volatile mortgage rates are sidelining homesellers and why a boost in existing-home inventory could happen as early as December
by Marian McPherson Jun 29
'Voluntary moves are gone': Why today's buyer looks so different
More buyers today are moving because they have to. Here's what they look like — and how agents are courting their business in a down market
by Jim Dalrymple II Jun 28
US existing-homes sales plunge in April as inventory climbs above 1M
Economic headwinds and booming interest rates pushed sales down by 3.4% in April as inventory soared 7.2% above March, according to National Association of Realtors data released Thursday
by Marian McPherson May 18
Builder confidence rises as low inventory hikes new-home demand
New homes now represent a third of all homes on the market, 2.5 times higher than the historical average for the 2 decades leading up to COVID-19, according to the NAHB/Wells Fargo HMI
by Taylor Anderson May 17
Agent charged with fatally lacing husband's drink amid mansion feud
Real estate agent Kouri Richins then wrote a book with her 3 children to help kids cope with the sudden loss of a parent, according to charging documents filed in the case earlier this week
by Taylor Anderson May 12
Survey details 'growing suffering' for LGBTQ+ buyers, sellers
LGBTQ+ real estate professionals explain the impact of more than 320 anti-LGBTQ laws on LGBTQ homeownership and housing rights, in the LGBTQ+ Real Estate Alliance's 3rd annual survey
by Marian McPherson May 10
The markets real estate investors are fleeing amid the housing slump
Despite economic turmoil, investors large and small are still a force to be reckoned with in the housing market. Intel broke down the cities they've soured on — and the ones they just can't quit
by Daniel Houston May 10
Market slowdown is 'chipping away' at homeowner wealth: Attom
The share of homes that were worth at least 50% more than their mortgage fell for the second straight quarter. Still, a few homes are facing foreclosure, according to the latest report
by Taylor Anderson May 4
And the cheapest state to buy a home is…
Illinois is the cheapest state to purchase a home, due to a study by California-based boutique brokerage RubyHome. The study focuses on the income-to-sale price ratios for each state
by Marian McPherson Apr 28
Housing drags down US economy for second-straight quarter in Q1
Consumer spending remained high while the broader economy slowed, growing just 1.1% in the first 3 months of 2023, according to data released Thursday by US Bureau of Economic Analysis
by Taylor Anderson Apr 27
Compass CEO: Buyers will deal with higher rates. Sellers? Not so much
During his latest CNBC appearance, Compass CEO Robert Reffkin outlined the catch-22 of higher mortgage rates and why early pandemic boomtowns are facing a devastating bust
by Marian McPherson Apr 21
Buying a home is hard. For first-timers, it's never been tougher
Homes in the lower tier of pricing are still 8% more expensive than at this time last year — and inventory has barely budged, according to a new analysis released Thursday by Zillow
by Daniel Houston Apr 20
Home staging dips in popularity as fewer agents make the effort: NAR
The National Association of Realtors' 2023 Profile of Home Staging reveals a quarter of all staging efforts yield additional profits of up to $18,935 for a median-priced home
by Marian McPherson Apr 3
Boomers strike back: Older buyers unseat millennials as top cohort
Baby boomers have long enjoyed advantages over millennials in the home market. Now, they outnumber them, according to data released Tuesday by the National Association of Realtors
by Daniel Houston Mar 28
Single millennial women's homeownership rate tanked in 2022
Persistent wage disparities and pandemic-induced familial stressors pushed single millennial women out of homeownership with rates dropping near the all-time low of 19.4%, Zillow says
by Marian McPherson Mar 24
The tug-of-war between millennials and boomers heats up this spring
5 real estate experts explain how rising mortgage rates, inflation and economic uncertainty could impact baby boomers and millennials this spring and how both groups can succeed
by Marian McPherson Mar 20
45% of sellers offered concessions coming into 2023: Redfin
As the market shifts, so are homesellers' tactics. Nearly half of sellers offered concessions or price cuts during the beginning of the year, a reverse of years of bidding wars
by Marian McPherson Mar 15
‘Just a freakish bit of data’: Sticker shock imperils spring home demand
Economists revealed to Intel how mortgage rates and inflation will bring the spring homebuying market back toward historical norms and become the new sales benchmark for years to come
by Marian McPherson Mar 15
A gap in a concrete bridge
The National Association of Realtors said increasing the nation's inventory is 1 solution to address homeownership gap. The trade group is eying 3M net new Black homeowners by 2030
More homebuyers are blaming their agents — and hauling them to court
Even though the extreme seller's market is in the rearview mirror, disgruntled clients have been filing more lawsuits against their agents, according to an analysis by Victor Insurance Managers
by Daniel Houston Feb 21