National News

Realogy Franchise Group names new president and CEO

She will oversee the franchise operations of Better Homes and Gardens Real Estate, CENTURY 21 and ERA. Yannaccone also will lead the company’s efforts in the franchise and owned operations of Sotheby’s International Realty and Corcoran.

NAR board OKs hate speech rule

Realtors who use harassing or hate speech could face fines by the National Association of Realtors, according to a proposal approved by the NAR Board of Directors at its 2020 Realtors Conference & Expo.

Here’s what President-elect Joe Biden’s housing plan looks like

With a plan to invest $640 billion over 10 years and vows to end discriminatory and unfair practices in the housing market, including “redlining,” President-elect Joe Biden’s housing policy agenda looks to protect low-income and housing-insecure households.

Labor market shows improvement in latest jobs report

The latest jobs report shows improvement, with another 638,000 net job gains and the unemployment rate slashed to 6.9%.

Homeownership down slightly but not for Millennials

First-time buyers contributed to 31% of September’s home sales due to record-low mortgage rates, according to the report.

Expect fall price gains, but 2021 could see a cooling market

The new S&P CoreLogic Case-Shiller Home Price Index reveals record-breaking August for home sales, up 21% over the 2006 pre-Great Recession high.

Chicago has among highest number of distressed sales in the nation

“It’s almost as if the housing market and the overall economy are operating in different worlds.” — Todd Teta, chief product officer at ATTOM Data Solutions

Chicago home sales up 26.4% in September

“Buyers have begun to take to the city’s outskirts as serious options causing listings to struggle to keep up with demand.” — Mike Opyd, Broker/Owner, RE/MAX NEXT

First American: Homesellers playing ‘musical chairs’

Homesellers continued to sell homes to each other in September, making the market resemble a game of ‘housing musical chairs,’ according to First American chief economist Mark Fleming.

New unemployment claims spike, though continuing claims fall

Economic recovery slumps as initial jobless claims unexpectedly jump.

Pricing premium sagging for Trump-branded condos in Chicago, other locales

A Redfin analysis found that the Trump name no longer commands the same price premium it once did.

Homeowners in blue counties headed to red, swing counties

Redfin looked at the number of prospective homebuyers searching in the second quarter who wanted to change counties. Home search data revealed that 6.5% fewer people were looking for homes in blue (Democratic) counties than in swing or red (Republican) counties.

Chicago homebuyers faced higher prices, lower inventory in September

This year, buyers encountered a 21% decrease in listings from the beginning of 2020, along with a 17% price increase to about $20,000 more than anticipated.

Construction employment up in latest jobs report, though still below pre-pandemic levels

The U.S. economy has recovered approximately half of the 22 million jobs lost during the height of the pandemic, according to the Labor Department.

NAR helps secure federal funds for transportation, flooding

It was a hard-fought effort to procure federal funds in the middle of a recession, but NAR announced that the president is poised to sign a bill that provides money for road projects and flooding.

@properties rolls out national franchise program

The Chicagoland brokerage is taking it to the next level by going national.

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