National News

High home prices and low inventory likely to persist in 2021

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

Loan limit boost of 7.4% good for Miami buyers

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

New house flipping show enables viewers to invest while watching

New Instagram video show American Dreamhouse emerges from the intersection of the popularity of fix-and-flip shows, interior design and audience interest in finding novel ways to generate extra income.

Is 2020 really the year of the suburb?

2020 has seen much speculation that COVID-19 is driving households away from cities to lower density places in the suburbs. RCLCO looks at whether 2020 is indeed the year of the suburbs.

NAR reaches agreement with Department of Justice

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

Housing starts up, but will it last?

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

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.

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.

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.

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.

Commercial-to-apartment conversions on the rise

The 2010 decade grew the amount of overall building conversions from about 2,000 units converted in the 1950s to roughly 97,000 over the last decade.

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.

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