At the same time, mortgage applications declined 1.7% on a seasonally adjusted basis on a week-over-week basis, according to the Mortgage Bankers Association. 

In Miami, home prices posted a 28.6% year-over-year gain in August — the largest in the country — compared to a 31.7% gain in July. Month over month, prices fell 0.1%.

The only other time the market saw such change was at the beginning of the pandemic. 

Month over month in September, existing-home sales slid 1.5% to 4.71 million, which is 23.8% lower than the year before. 

New home construction missed analyst estimates in September, falling 8.1% month over month to an annual rate 1,439,000 homes, according to government statistics. 

Mortgage rates rose to 6.9%, the highest they’ve been since April 2002.

First-time homebuyers now make up 45% of current homebuyers, according to Zillow. The numbers represent a rebound from the lows of the pandemic.

The new franchise will be the brokerage’s 16th in Europe as it pursues other expansion opportunities around the world. 

The former chairman and CEO of the homebuilder died of Parkinson’s disease at 81. 

RE/MAX Holdings, Inc. has named Grady Ligon as its new chief information officer. Ligon brings 20-plus years of experience to the position, as well as his proven track record for integrating technology to enhance business growth.

Looking ahead, CoreLogic expects the year-over-year pace of home-price appreciation to slow to 3.5% by August 2023. 

Market volatility is causing more and more homebuyers to delay or cancel plans to make a purchase.

The National Association of Realtors® has named Revive as the winner of the 2022 Innovation, Opportunity & Investment (iOi) Summit “Pitch Battle.”

The price index continued to climb in Miami, though, increasing 1.29% from June to July. Year over year, the Miami home price index is up 19.1% 

While 23% of residential Realtors claim they have feared for their safety while on the job, 98% reported that they have never been the victim of a crime while at work.

NAR and the National Forest Foundation (NFF) plan to plant 1.575 million new trees by the end of 2025, thanks to a $1.575 million donation from NAR. That many trees will reduce 750,000 metric tons of carbon in the atmosphere — the equivalent of 145,931 homes’ yearly electricity use.