The median existing-home price for all housing types in June rose to $410,200, 0.9% less than the all-time high of $413,800 reached in June 2022, the National Association of REALTORS® said.
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The National Association of REALTORS will hold a virtual Real Estate Forecast Summit on Wednesday, Aug. 2.
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The National Association of REALTORS® has been named in a new lawsuit by Janelle Brevard, the organization’s former chief storyteller. NAR President Kenny Parcell is named multiple times in the complaint.
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At the same time, the median existing-home price for all housing types slid 3.1% year over year to $396,100.
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Homes affordable to middle-income buyers — defined as households earning up to $75,000 — fall in the $256,000-to-$320,000 range. But of the over one million U.S. homes on the market at the end of April, less than a quarter of all listings were within that price range.
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A dire housing shortage has kept prices strong and competition fierce among buyers despite high mortgage interest rates.
The post Affordability Crunch: Where Middle-Class Buyers Can Afford Homes the Most—and the Least appeared first on Real Estate News & Insights | realtor.com®.
Despite solid demand, a dearth of homes for sale kept transaction numbers muted in the association’s most recent report on pending sales.
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Multiple-offer situations have returned with the spring buying season while distressed and forced sales are “virtually nonexistent,” the National Association of REALTORS® said.
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The mortgage industry decried the proposed loan-level pricing adjustment for borrowers with higher debt-to-income ratios.
The post FHFA rescinds “unworkable” fee ahead of implementation appeared first on Atlanta Agent Magazine.
NAR Chief Economist Lawrence Yun said the Federal Reserve’s latest increase in its benchmark interest rate is an unnecessary threat to many small regional banks.
The post Lawrence Yun: Fed rate hike ‘unnecessary and harmful’ appeared first on Atlanta Agent Magazine.