National News
Denying a mortgage to a woman because she is on or plans to be on maternity leave is against the law, but some lenders are accused of doing just that.
New construction apartments are getting bigger in Chicago and other major markets after shrinking in size from 2016 to 2020, according to a recent study by RENTCafe and Yardi Matrix.
The seasonally adjusted estimate of new houses for sale at the end of May was 330,000, representing a supply of 5.1 months at the current sales rate, the U.S. Census Bureau and the Department of Housing and Urban Development reported.
The shortage of housing in America is more “dire” than previously expected, and the NAR’s new report puts pressure on lawmakers to provide additional public funding and policy incentives to fix this massive underbuilding gap.
Market competition has eased up recently, but seven in 10 buyers still face bidding wars, according to a new report from Redfin.
Single-family housing starts were up 4.2% from April and 49.8% from May 2020, at 1,098,000, according to the U.S. Census Bureau and Department of Housing and Urban Development.
Although pending sales are up 29% from last year, they are starting to slow down, dropping 9.7% from their peak four weeks ago.
Increasing costs and declining availability of key building materials dampened builder sentiment, as higher costs have pushed some new homes beyond the budget of prospective buyers.
With high costs slowing construction and potentially lowering homeownership for many, easing zoning rules may be the most effective way to increase the supply of new housing.
High-end home sales surged in the three months ended April 30 as prices also rose and listings increased.
The COVID pandemic has caused a shakeup in where, and how, many people work. That has helped propel a thriving housing market.
The new corporate sponsorship makes certain training, resources and networking opportunities available to RE/MAX agents.
Of the 99 million residential properties in the U.S., approximately 1.4 million (or 1.4%) are vacant this quarter, with “zombie” home rates increasing both quarterly (21%) and annually (5.6%).
The number of Asian-headed households grew 83% in the past two decades, but economic inequality and inequity between different Asian ethnic regions is still an issue.
Year over year, however, pending home sales were up 57.1%, the NAR said, citing its monthly Pending Home Sales Index.
First-time homebuyers found their long-term plans changed due to COVID.