While sales of existing homes continue to underwhelm, housing market analysts are feeling more optimistic about new construction. The Census Bureau reported new-home sales in June came 7 percent above the revised sales pace for May, and 4.5 percent above the estimate for June 2018. The report did come with caveats, however.
Anyone who’s bought a home knows that it’s usually only a matter of days after closing that their mailbox is inundated with marketing materials. The idea from Amazon is to give consumers an incentive to use an agent through one of Realogy’s brands, while giving Amazon a reason to attract customers who, presumably, will come back for more as they set up their new homes.
The national existing-home market nearly gave up the ground won in May with a less-than-stellar showing for June sales, according to the National Association of Realtors. Sales of existing homes in June came in 1.7 percent below the previous month’s total, reaching a seasonally adjusted annual pace of 5.27 million.
Weakening home sales, a sluggish new construction market and slowing growth in permitting for home improvement projects have all impacted the pace of remodeling, particularly projects undertaken with the goal of putting properties on the market for a quick sale.
About half of millennials say they wouldn’t need to stretch in order to afford mortgage payments. At this same time last year, only 40 percent of millennial homebuyers said they would have no trouble making mortgage payments on time.
With the coming expansion of legal cannabis use in Illinois, real estate professionals need to be prepared for issues that may crop up in their transactions when state and federal laws clash, and one potential result of this mismatch is showing up in the mortgage process.
Hispanic people account for the majority of growth in the U.S. homeownership rate. We asked top-ranked agents how real estate professionals can help sustain that trend.
The country has seen 121 straight months of economic expansion since the Great Recession, the longest-recorded period of economic growth to date. Learn what your industry has done to assist this stellar growth streak.
Though the state with the largest share of home sales to foreign buyers was by far Florida, Illinois ranked as a major destination for buyers from two of the top five international markets. Find out which countries are sending potential clients your way.
Coldwell Banker chose a ‘Mainstreet, U.S.A’ office in Chicagoland to try out its new branding. Here’s how it’s going so far.