Real Estate News
Mortgage rates, now at a 20-year high, combined with inflation and stock market volatility are causing housing markets to soften quickly. The next several months will be a critical test for the economy, experts say.
Promising to work harder for housing equity, the Minneapolis Area REALTORS®—which once supported racial covenants and denied membership to Blacks—issued a public apology for its historical role in perpetuating the homeownership gap in the Twin Cities. Now the association has a plan of action to help level the playing field.
Nineteen percent of real estate professionals say they avoid having any interaction with an appraiser, mostly fearing they’re not legally allowed to.
Despite an unexpected jump in new construction in September, demand for new homes is falling due to high prices and mortgage rates. Builders are lowering their asks to boost buyer traffic.
“If you’re regularly paying your rent on time, that’s a good indication you will also pay your mortgage on time,” says the Federal Housing commissioner.
Meet the five REALTORS® who were named this year’s winners, and learn how they went above and beyond for their communities in a dark time.
Mauricio Umansky, husband of “Real Housewives” star Kyle Richards, has his own show following his brokerage, The Agency. He offers a peek inside the occu-soap “Buying Beverly Hills” and makes predictions for high-end housing in 2023.