National News

Forbearance rate drops to 4.5%

As the economy slowly recovers from the early days of the pandemic, the share of loans in forbearance dropped for the seventh consecutive week, signifying a 40-basis-point decrease in the last two weeks.

Millennials gain a foothold in today’s housing market

As they come of peak age for first-time homeownership, millennials are gaining an increasing share of today’s housing market.

HUD Sec. Fudge: ‘We will enforce U.S. Fair Housing Act’

Housing secretary reaffirms U.S. commitment to closing the racial homeownership gap at a forum with NAR president and top housing officials.

U.S. Supreme Court decision makes it easier for brokers to market their business

Brokers may use their cell phones to make marketing calls and send marketing texts, if the cell phone does not have an app that will automate the dialing system.

Zillow: Most experts expect relief to supply woes later this year, early 2022

Forty-three percent of respondents to the first-quarter Zillow Home Price Expectations survey expect inventory to improve in the second half of the year, followed by 26% who expect it in the first half of 2022.

How does credit scoring impact fair lending and minority home ownership?

“A credit report and credit score are the gateway to a mortgage,” — NAR President Charlie Oppler.

Who made up the National Association of Home Builders in 2020?

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.

Redfin closes $608 million takeover of RentPath early

RentPath’s sites, which include ApartmentGuide.com, Lovely, Rent.com, and Rentals.com, will continue to operate as normal while their listings are integrated with Redfin.com, a process that is expected to wrap up in 2022.

Home prices hit 15-year high nationwide

Prices in the Chicago metro area were up 6.3% over February 2020 with “normal” market condition indicators.

MRED launches revamped private listings network

Midwest Real Estate Data has launched connectMLS, which aims to make accessing private listings easier and faster.

Truth About Agents 2021: Marketing

How much do you spend on marketing? See how it compares with other Chicagoland agents and brokers in our 2021 Truth About Agents survey.

Interest in tiny homes grows as popularity rises

While pandemic headlines had many leaving cities and moving to the suburbs or looking for additional space in their current home, interest in tiny homes was little remarked upon.

NAR: ‘Don’t panic, keep contracting’

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.

New home sales slide nationwide

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.

Ending 1031s hurts land conservation, farmers

The land conservation and farming communities need to come together and let Congress know how vital the like-kind exchange is to the future of our land and that it must continue.

Chicago home price increase doubles national average

The median price of a home in the U.S. reached its highest point in 13 years last month as inventory continued to fall.

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