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The Latest Breaking News from NAR

Mortgage Payments Soften, Existing Home Contracts Remain Unchanged

Is the housing market losing some steam? Contracts to buy existing homes remain stagnant as mortgage payments begin to wane, says the NAR.

Top News

Fitch Ratings says U.S. homes are ‘overvalued’ by nearly 10%—but homebuyers shouldn’t expect relief anytime soon

"Home prices keep marching higher," NAR’s chief economist Lawrence Yun said in a statement, arguing that "only a dramatic rise in supply will dampen price appreciation."

Fortune

Home sales snapped a five-month skid in November as easing mortgage rates encouraged homebuyers

Sales of previously occupied U.S. homes rose in November, ending a five-month skid, as easing mortgage rates encouraged homebuyers

The Independent UK

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Mysuru hosts real estate business exchange meet

NAR-India hosted 1st South Zone Real Estate Business Exchange Meet in Mysore, bringing together stakeholders to discuss industry growth, future prospects & collaborative opportunities. It provided an opportunity to foster growth & development in the real estate sector. Realtors, developers, investors & financial institutions from India benefited from the event,…

The Hindu

Home prices will fall for the first time since 2012, Redfin’s chief economist predicts, but they'll still be ‘out of reach’ for many buyers

Redfin expects home prices to fall 1% in the second and third quarters of next year and be flat in the first and last quarters, per its 2024 housing market forecast.

Fortune

Pending Home Sales Fall To Record Low In October

The housing market is suffering from mortgage rates near the highest level in two decades.

International Business Times

Buying a Home? You Need a Six-Figure Income and a Big Down Payment

The median household income for home buyers hits a record $107,000; Down payments rise to more than two-decade highs as housing market crunch continues, NAR study shows.

Kiplinger

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Home sales slumped to slowest pace in more than 13 years in October as prices, borrowing costs, soar

Sales of previously occupied U.S. homes slumped in October to their slowest pace in more than 13 years, as surging mortgage rates and rising prices kept many prospective homebuyers on the sidelines

The Independent UK

Speaker Johnson's close ties to Christian right — both mainstream and fringe

The Louisiana Republican has deep ties to evangelical leaders, including pastors who hold anti-democratic views and helped fuel the Jan. 6 Capitol riot as a battle for God to save America.

WEKU

Who is the first-time homebuyer? They’re older, earn more, and probably don’t have kids

Despite millennial plight, 32% of buyers this year bought their first house.

Fortune

Millennials are replaying their parents’ housing market journey as first-time buyers in their 30s flood into an unaffordable market

First-time buyers make up 32% of all home buyers, the National Association of Realtors says—up from last year’s historic low of 26%.

Fortune

Christian Dominion movement crumbling?

Oklahoma-based "City Elders" group talks big about political takeover. How much of that is smoke and mirrors?

Salon

Americans pay $100 billion in real estate commissions but get ready for a 30% cut on that, expert says

A $1.8 billion verdict this week against the National Association of Realtors and large brokerages likely spells changes ahead.

Fortune

National realtor association CEO suddenly quits in the wake of a massive sex scandal and a pricing conspiracy that cost the industry $1.8 billion

Bob Goldberg, CEO of the National Association of Realtors, announced his resignation.

Fortune

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The Independent UK

National Association of Realtors CEO stepping down; ex Chicago Sun-Times CEO tapped as interim hire

The CEO of the National Association of Realtors is stepping down nearly two months before his planned retirement

Chicago Sun-Times

National Association of Realtors CEO Bob Goldberg resigns, replaced by former Sun-Times CEO Nykia Wright

Goldberg’s departure follows the resignation of former President Kenny Parcell, who was accused of sexual harassment.

Kiplinger

Home Sellers' Costs Could Soon Be Cheaper Due To This Court Case

Home sellers may see big changes next year following $1.8B guilty verdict against brokerages that inflated home sales commissions.

The Independent UK

Real estate industry facing pushback to longstanding rules setting agent commissions on home sales

A series of court challenges are seeking to upend longstanding real estate industry practices that determine the commissions agents receive on the sale of a home — and who foots the bill

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Fortune

Real-estate industry rocked by $1.8 billion verdict finding ‘conspiracy’ to force sellers to pay illegal commission fees

Warren Buffett's HomeServices was among the defendants found liable for a verdict that could climb to more than $5 billion.

Fortune

Boomer parents are suddenly muscling their kids out of the housing market according to surprising new data from realtors

America's parents are vying with their kids—or maybe grandkids—for the relatively few homes for sale.

Fortune

The housing winter arrives early as existing-home sales crash to Great Recession levels and the long-feared ‘deep freeze’ sets in

Zillow warned in May that housing would enter a “deep freeze” if mortgage rates hit 8%. They came anyway—and existing home sales hit a 13-year low.

Fortune

The housing market is about to have its slowest year since the real estate bubble burst in 2008, according to National Association of Realtors

Mortgage rate lock-in effect is making homeowners hold on for longer: “You can’t buy what’s not for sale,” one pro says.

Fortune

‘Enough is enough’: Redfin is so furious about the bombshell NAR sexual harassment report it’s ordering thousands of Realtors to ditch the industry group

Redfin only joined the National Association of Realtors in 2017, and now it’s ordering as many of its members to leave as possible. It just can’t yet in some markets.

The Hindu

Realtors to host South Zone Business Exchange Meet in Mysuru

NAR-India to host 1st South Zone Real Estate Business Exchange Meet in Mysuru on Sept 29, bringing together stakeholders in the real estate sector of South India. Meet to provide platform for discussions on industry growth, future business prospects and collaboration opportunities. Event to benefit realtors, developers, investors and financial…

Chicago Sun-Times

National Association of Realtors taps Maggie Hickey to craft sexual harassment policies

The Chicago-based group announced other internal measures in response to charges that it has done little to stop abusive behavior by officers or vendors.

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