According to a recent Redfin report, only 25 out of every 1,000 U.S. homes changed ownership in the first eight months of 2024, marking the lowest housing turnover rate in 30 years. Redfin’s analysis, which focused on turnover as an indicator of housing availability, compared data across various metro areas, home types, and neighborhoods from 2012 to 2024.
Homebuyer sentiment reached its highest level in more than two years in September, but that may not last as mortgage rates continue to rise.
Real estate has been historically slow to modernize, but AI is changing that. The integration of artificial intelligence is transforming how buyers and sellers interact with agents, fundamentally altering competitive dynamics in the industry.
A couple of new studies found that affordability is getting better for home buyers — in ways that signal “further relief” ahead as well as a changing definition of starter homes. First American’s Home Price Index found that annual affordability improved 4.1% for buyers in August, the first time that’s happened since 2021. Not only Read More…
The first week following the Federal Reserve’s decision to start cutting interest rates showed some signs of life but no big rally in the real estate industry. Mortgage rates were particularly quiet this week, according to Freddie Mac’s Sept. 26 survey. The 30-year fixed-rate mortgage averaged 6.08%, down slightly from last week’s 6.09%. The 15-year Read More…
The MLS Technology and Emerging Issues Advisory Board met to discuss the Clear Cooperation Policy, which requires brokers to upload publicly marketed listings to an MLS within one business day. The board, composed of MLS and broker executives, will reconvene in October to further consider the policy. The meeting also reviewed feedback on the optional no-comingling rule and brokerage back-office feed. With input from stakeholders, the board discussed a range of perspectives, including fair housing. NAR leadership attended the meeting, emphasizing the importance of member feedback in shaping potential MLS policy changes
