August’s pending home sales pace was up 1.6% from last month and rose 2.5 % from a year ago.
The “Inclusionary Zoning Implementation Amendment Act of 2006” helped improve Washington, DC housing affordability requiring that new housing developments include units that are affordable for low-income households.
August's sales of existing homes increased 2.6% from August 2018. August's existing home sales reached a 5.49 million seasonally adjusted annual rate.
Amid tight supply, home prices are still appreciating in many areas, with home prices rising at a faster pace in less expensive metro areas and rising at a slower pace or even falling in more expensive metro areas.
At the national level, housing affordability is up from last month and up from a year ago. The effective 30-year fixed mortgage rate was down from last month at 3.62% this July, and down nearly one percentage point compared to 4.75% a year ago.
Looking at data from the 2019 Member Profile we recognize REALTORS® for their hard work and successes this Labor Day.
What has changed over the past seventeen years, with the increase in technology used in the business of real estate?
Eighty percent of respondents reported that home prices remained constant or rose in July 2019 compared to levels one year ago (86 percent in July 2018).
The U.S. Black homeownership rate today is lower than it was in 1968 when the Fair Housing Act, part of the landmark Civil Rights Act, was signed into law.
There are four home construction methods being used today: Site-built, Manufactured, Modular, and Panel.