Homebuyers are likely to face higher prices and a continuing inventory crunch in 2021, First American chief economist Mark Fleming has predicted.

Illinois home sales were up 34.9 percent from the year before, with statewide median prices increasing as much as 16.5 percent.

This means homebuyers will be able to borrow up to the new level without triggering higher interest rates.

The complaint, filed by the Department of Justice on Nov. 19, alleges that the organization’s practices and policies are anti-competitive.

The boost from loosening credit, along with rising house-buying power, equity and household formation, was strong enough to overcome the negative impact on housing market potential from the increase in tenure length so far in 2020, says Chief Economist Mark Fleming.

A new report has good news for housing construction, but will it hold through next year?

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.

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.

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.

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

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

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.

“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

“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

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.

Economic recovery slumps as initial jobless claims unexpectedly jump.