“A credit report and credit score are the gateway to a mortgage,” — NAR President Charlie Oppler.
The National Association of Home Builders published the results of its Special Study for Housing Economics, highlighting the 2020 annual census of who makes up its members.
The two real estate associations are teaming up to make a variety of services available to each other’s members.
In an industry where women outnumber men almost two to one, there’s still work to be done, according to three of Chicagoland’s top women broker-owners at a forum held by the Chicago Association of Realtors in recognition of Women’s History Month.
“The demand for a home purchase is widespread, multiple offers are prevalent, and days-on-market are swift, but contracts are not clicking due to record-low inventory.” — NAR Chief Economist Lawrence Yun
The National Association of Realtors sends a message to members that it is working to ensure that the proposed Protecting the Right to Organize Act will not hurt their status as independent contractors.
Much of the year-over-year increase in home sales was supported by continued robust activity in the Southeast, which saw a 20.2% rise to an annual rate of 458,000 transactions.
“Despite the drop in home sales for February — which I would attribute to historically-low inventory — the market is still outperforming pre-pandemic levels.” NAR Chief Economist Lawrence Yun
Chicagoland detached homes spent 78 days on the market, and attached homes were on the market an average 67 days.
Eighty-eight percent of all homebuyers said they used an agent as a source of information during their search, and 91% of millennials age 22 to 30 said the same.