Pending home sales fell 7.1% in August 2023, with rising mortgage rates and low inventory reducing the pool of home buyers.
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The SAFER Banking Act promotes safety and ensures continued expansion of the American economy while providing clarity for business owners, banks, and regulators in the cannabis industry.
In August 2023, existing-home sales improved in the Midwest, were unchanged in the Northeast, and slipped in the South and West. All four regions recorded year-over-year sales declines.
The current real estate market's high home prices and mortgage rates, as well as limited inventory, are the top reasons that Realtors® and prospective home buyers across races and ethnicities cite as barriers to purchasing a home.
These NAR members exemplify the essence of what it means to be a good neighbor, turning their passion and dedication into real-world change.
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The small gain in contract signings shows the potential for further increases, however, rising mortgage rates and limited inventory have temporarily hindered the possibility of buying for many.
Existing-home sales fell 2.2% in July to a seasonally adjusted annual rate of 4.07 million. Sales receded 16.6% from one year ago.
Funds from the REALTORS® Relief Foundation will be made available to the public to assist with the Maui disaster victims’ housing payments as relief and recovery efforts continue.
Five percent of the 221 tracked metro areas registered double-digit price increases during Q2 2023, down from 7% in Q1.