National News

NAR settles compensation lawsuits for $418 million and will ban commissions on MLS

NAR will prohibit offers of broker compensation or commission on the MLS.

Home prices have risen twice as fast as inflation for 60 years — but that trend may be reversing

U.S. home prices are 24 times higher than they were in 1963 — while overall inflation is just 10 times higher.

2 Illinois towns rank as best places for homebuyers on a budget

Two Illinois towns topped a recent ranking of the most desirable places for households with a yearly income of $75,000 to buy: Champaign and Peoria.

Mark Willis replaces Marc King as president at Keller Williams

Willis previously served as Keller Williams president from 2002 to 2005 and CEO from 2005 to 2015.

NAR praises Biden’s proposals to address housing affordability  

NAR President Kevin Sears also raised concerns about Biden Administration regulations that could create hurdles to affordability. 

What history tells us about today’s interest rates

If your buyer is having a hard time moving on from 2021 and accepting the reality of today’s rates, a history lesson may help.

New listings in Chicagoland hit record low as recession fears loom

In January, just 130,475 new properties were listed in Chicagoland. That’s the lowest monthly number seen since data tracking began in 2008.

RE/MAX Legends acquires RE/MAX Central

RE/MAX Legends, which is headquartered in Oakbrook Terrace, has acquired the Roselle-based firm RE/MAX Central.

Examining homeownership rates across racial groups

A recent NAR report details the persistent gaps in homeownership rates among racial groups, particularly for Black buyers.

Dawn McKenna Group lists Naples, Florida, compound for $295 million, a new U.S. record 

If it sells for close to the asking price, the sprawling family compound would be the most expensive residential sale in U.S. history.

HomeServices asks the Supreme Court to review Sitzer-Burnett ruling

Months after being found liable in the now-famous Sitzer-Burnett trial, the Berkshire Hathaway affiliate is asking the U.S. Supreme Court to review a ruling related to the case.

Draper and Kramer Mortgage acquired by New American Funding

The acquisition will bring most of Draper and Kramer’s loan originators and operations and support staff to NAF.

NAR: Existing-home sales slid 1% in December but are expected to rise 

At the same time, the median sales price rose 4.4% to $382,600. 

NAR President Tracy Kasper resigns after receiving threat to reveal ‘personal’ matter

NAR President-elect Kevin Sears will move into the role of president, effective immediately.

What the recent surge in single-family construction means for 2024

The growth in November housing starts was seen across all United States regions, including a notable jump of 16.3% in the South; starts were up 1.4% in the Midwest.

2024 market outlook: What needs to happen for a robust year

Three real estate CEOs — Victor Ciardelli, Erik Doersching and Thad Wong — explain what needs to happen in real estate for a robust year.

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