The chief economist for the National Association of Realtors (NAR) told the U.S. Senate Committee on Banking, Housing and Urban Affairs he does not foresee a nationwide decline in home prices despite indications that price growth is set to slow.
Testifying before the Senate committee, Lawrence Yun said the potential for weaker sales should increase available inventory in some markets, but not enough to diminish persistent affordability constraints.
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Broeksmit said MBA will examine the Treasury’s guidance in greater detail and looks forward to its ongoing work with the administration, Congress and industry stakeholders on safe-and-responsible policies.
Pending home sales declined in June, as all four major regions posted month-over-month and year-over-year decreases, according to the National Association of Realtors.
Existing-home sales dropped for the fifth consecutive month in June, with three out of four U.S. regions experiencing month-over-month sales declines and one region holding steady, according to the National Association of Realtors (NAR).
According to NAR, first-time buyers were responsible for 30 percent of sales in June, up from 27 percent in May and down from 31 percent in June 2021.
The U.S. Department of Housing and Urban Development released a list of its programs included in the Biden administration’s Justice40 Initiative.
The Justice40 Initiative’s goal is to deliver 40 percent of the overall benefits of climate, clean energy, affordable and sustainable housing, clean water and other investments to disadvantaged communities that are marginalized, underserved and overburdened by pollution.
NAR surveyed its members about transactions with international clients who purchased and sold U.S. residential property from April 2021 through March 2022.
New Jersey recently sent a bulletin to real estate licensees to remind them to comply with the state’s RESPA-related laws.
The bulletin was directed to real estate licensees, particularly those on teams, and the brokers responsible for managing and supervising those teams. It urged them to comply with the state Real Estate Broker and Salesperson Act and related regulations.
More than half of Realtors surveyed (57 percent) cited a lack of inventory as the leading reason preventing clients from buying a home, according to the latest membership survey from the National Association of Realtors (NAR).
NAR’s survey also revealed that its membership increased to 1.56 million at the end of 2021, up from 1.48 million at the end of 2020.
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The U.S. Department of Housing and Urban Development (HUD) charged a Florida owner and manager of an RV park with discriminating against a former tenant because of her gender identity.
The defendant allegedly gave a tenant a letter stating the tenant should act as a man, talk as a man and dress as a man to avoid trouble.
Read to learn more about the charges.
The U.S. Department of Housing and Urban Development (HUD) agreed to a consent order with Blossom Associates, LLC and Maryanne Hart, the owner and operator of multiple rental units in Massachusetts who allegedly refused to rent to a family because the family had children under the age of 6.
Massachusetts requires housing providers to remediate lead paint in units where children under 6 live. The laws also create liability for housing providers if they do not remediate and young children suffer lead poisoning.
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