National News
While Fannie Mae’s index measuring consumer sentiment is lower than last month, the survey still clocked year-over-year gains.
Although all regions saw a boost in pending sales, the biggest increases were in the West, according to NAR’s index.
A 15-month run of decreasing year-over-year gains in U.S. home prices ended in July, according to the S&P CoreLogic Case-Shiller National Home Price Index. However, price growth in Chicago and other major cities was less robust than the national picture.
A new survey of consumer sentiment finds a majority both buyers and sellers feel like now is a good time to jump into the market.
NAR reported positive numbers for existing home sales in August, but Chicagoland and the state didn’t record as good of a year, when looking at the most recent data.
With the quarter percentage point cut, chairman Jerome Powell seeks to stave off a recession.
At the brokerage’s leadership summit in Chicago, company leaders Charlie Young and Ryan Gorman both spoke frankly about the challenges facing the 113-year-old brand, from Compass and Keller Williams to restructuring and rebranding efforts.
Realogy announced that it will embark on a process of “strategic organizational changes” at the same time that its CEO sent an email to employees countering claims that the company had been in discussions for a sale to Compass.
The long-anticipated vision of the future of Fannie Mae and Freddie Mac provides the public with the first concrete roadmap for returning the two firms to full private ownership.
Over three-fourths of survey respondents reported that being a homeowner has “made them a better person,” with about the same proportion saying that they’ve taken up new hobbies since closing on a home, like gardening, grilling and interior design.
New national data on apartment construction shows activity slowing down in a lot of markets, including Chicago. But there are several bright spots that are showing exceptional building activity.
After two straight months of nationwide increases, the number of listings under contract by the end of July fell on a monthly basis.
The S&P CoreLogic Case-Shiller National Home Price Index shows that home prices scored their 15th consecutive month of slowing year-over-year home-price growth. But there’s more to the story.
The Conference Board’s Consumer Confidence Index for August showed Americans shared broadly strong views of the overall economy and their own financial health near the end of the summer.
Economists were expecting new-home sales to finish stronger in July, aided by low mortgage rates that act as an incentive for buyers.
Home sales activity is picking up this summer, thanks in part to historically low mortgage interest rates, and despite some worrisome signals on the broader economy as of late.