NAR Newsline

The latest real estate news, reports and information impacting REALTORS® and the association.

Existing-home sales decreased for the third straight month in June, falling 0.6 percent to 5.38 million sales as declines in the South and West exceeded sales gains in the Northeast and Midwest, according to the National Association of REALTORS®. The ongoing supply and demand imbalance helped push June’s median sales price to a new all-time high at $276,900.

“There continues to be a...

According to a recent study from the National Association of REALTORS®, a majority of Americans believe that homeownership is good for our nation’s communities. Both homeowners and renters were asked if they feel a high rate of homeownership strengthens a community; 67 percent of those surveyed agreed with the sentiment. NAR President Elizabeth Mendenhall says, “Homeowners are more likely to...

Pending home sales inched back 0.5 percent in May, falling on an annualized basis for the fifth straight month, according to NAR.  A decline in contract activity in the South offset gains in the Northeast, Midwest and West.

Lawrence Yun, NAR chief economist, says this year’s spring buying season did not meet market expectations. “Pending home sales underperformed once again in May,...

The following is NAR Chief Economist Lawrence Yun’s reaction to this morning’s Case-Shiller National Home Price Index report:

“Home price growth remains strong across the country as reflected in the Case-Shiller Home Price Index, with a 6.4 percent gain from a year ago. The ongoing housing shortage has been pushing up home prices well above income growth. Prices...

National Association of Realtors® President Elizabeth Mendenhall released the following statement regarding President Trump's nomination of Kathy Kraninger as the next director of the Bureau of Consumer Financial Protection:

“In addition to working at the Office of Management and Budget alongside Bureau of Consumer Financial Protection Acting Director Mick Mulvaney, Kathy Kraninger has...

Existing-home sales fell back in May for the second straight month; sales fell 0.4 percent to seasonally adjusted annual rate of 5.43 million in May from a downwardly revised 5.45 million in April.

Lawrence Yun, NAR chief economist, says a solid economy and job market should be generating a much stronger sales pace than what has been seen so far this year.

“Closings were down...

The following is NAR Chief Economist Lawrence Yun’s reaction to this morning’s release from the U.S. Commerce Department on May new home construction:

“New home construction activity soared to its highest level in over a decade, which is fantastic news as more housing inventory will be available as the year proceeds. Moreover, construction and real estate industry jobs are being...

In recent years, baby boomers have been active in the housing market, coming in at a close second to millennials as the largest generation of home buyers, while home prices have remained high and inventory conditions tightened. The National Association of Realtors®’ 2018 Profile of Home Buyer and Seller Generational Trends identified that baby boomers are now more likely to...

The following is NAR Chief Economist Lawrence Yun’s reaction to the Federal Reserve’s decision today to raise short-term interest rates:

“We are still in the middle innings of rising interest rates; consumers should expect another three or four rounds of interest rate increases over the next 18 months. Mortgage rates will consequently continue to nudge higher. Fortunately, the...

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