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Posted Date: Monday, April 22, 2024
The National Fair Housing Alliance and almost 300 housing, civil rights, and other interested organizations sent a letter requesting the Biden-Harris administration “immediately release” the affirmatively furthering fair housing rule proposed by the U.S. Department of Housing and Urban Development.
The rule was released for comment in February 2023, with the public comment period ending April 24, 2023, after receiving one extension. The final rule has yet to be released, according to the Office of Information and Regulatory Affairs’ website.
Read on for more details.
Posted Date: Monday, April 22, 2024
Existing home sales saw slight contraction month-over-month as well as year-over-year last month.
The National Association of Realtors’ chief economist said home sales have stalled because interest rates have not made “any major moves.”
Read on for more details.
Posted Date: Thursday, April 18, 2024
Amidst allegations of sexual harassment, attempts at blackmail, and a jury finding of antitrust violations levied against the National Association of Realtors over the last year, two real estate professionals have started to offer an alternative trade group for real estate agents.
Mauricio Umansky and Jason Haber founded the American Real Estate Association with the goal to provide “unflinching advocacy and unrelating organizing on behalf” of its members.
Read on for more details.
Posted Date: Thursday, April 11, 2024
Over a quarter of recent homebuyers had no idea how much their real estate agent was paid, with some respondents also stating they had no idea how the amount was determined or who paid the agent, according to a report published by Redfin.
“Home sellers often have a candid conversation about fees with their agent before signing an agreement to work together. Buyers would benefit from doing the same,” Redfin’s chief economist said.
Read on for more information on the study.
Posted Date: Monday, April 8, 2024
Florida Agency Network Operations Manager Andrea Somers and Chief Administrative Officer/President Amy Gregory shared with RESPRO 31 – One Stop’s audience how to build an affiliated title operation, one step at a time.
RESPA News took a front seat for a discussion on staffing, vendor relationships, centralization, and technology considerations that can make or break a joint venture.
Read on for more details.
Posted Date: Monday, April 8, 2024
Consumers reported being more optimistic for both homebuying and home selling, despite indicating a more negative outlook on whether mortgage rates will decrease over the next 12 months.
“With the historically low rates of the pandemic era now firmly behind us, some households appear to be moving past the hurdle of last year’s sharp jump in rates, an adjustment that we think could help further thaw the housing market,” Fannie Mae’s chief economist said about the results of March’s Home Purchase Sentiment Index.
Read on for more details.
Posted Date: Thursday, April 4, 2024
The real estate industry is set for a lot of switch ups this year, with real estate agent commissions under scrutiny and regulators testing out title insurance alternatives.
RESPA News listened in at RESPRO 31 – One Stop in Houston while Arthur Sterbcow of the Sterbcow Law Group, Pam O’Connor, formerly of Leading Real Estate Companies of the World, and Craig Cheatham of The Realty Alliance, shared their perspectives on what’s ahead.
Read on for more details.
Posted Date: Thursday, April 4, 2024
A survey of over 2,000 consumers revealed that when borrowers were buying or selling their homes, those who knew their real estate agent commissions were negotiable and asked for a reduction had more than a 50 percent success rate.
“Like most things in life, you won’t know if your real estate agent will be willing to lower their commission fee until you ask,” LendingTree senior economist Jacob Channel said. “It can quite literally pay off.”
Read on for more details.
Posted Date: Thursday, April 4, 2024
The 2024 “Home Buyers and Sellers Generational Trends Report” by the National Association of Realtors indicated millennials – Americans ages 25 to 43 – surpassed baby boomers (ages 59 to 77) as the largest demographic of homebuyers over the last year.
The report also revealed Gen Z has joined the housing market, with a small margin of homebuyers spanning the ages of 18 through 24.
Read on for more details.
Posted Date: Monday, April 1, 2024
Existing home sales experienced another jump this year, as February experienced the largest monthly increase in as year.
The National Association of Realtors’ chief economist said while increased housing supply is helping to meet market demand, which has been on a steady rise because of population and job growth, more inventory is still needed.
Read on for more details.