The median price of a new home sold during the month was up 5.9%, however, according to figures from the U.S. Census Bureau and the U.S. Department of Housing and Urban Development. 

Nationally, the median sales price slid 2.9% from June but rose 8.1% from July 2021, while closed transactions were down 16.6% on a monthly basis and 26.3% on a yearly one, RE/MAX said in its National Housing Report.

The analysis, published this month, assessed every U.S. state in five categories: affordability, economy, education and health, quality of life and safety.

Homes continued to sell quickly, a median of 13 days to contract, even as inventory increased.

A recent decline in mortgage rates could return some purchasing power to buyers going forward, National Association of REALTORS® chief economist Lawrence Yun said. 

Compass revealed big losses — to the tune of $100 million — in its second quarter report. And as a result, the firm will no longer offer equity or cash incentives to new agents.

Meltzer has more than 30 years of construction experience and previously led a top national construction firm.

The pace of housing starts for both single-family and multifamily residences was down on a month over month basis, the U.S. Department of Housing and Urban Development reported. 

Agent and designer Katie Blineau has joined the Jupiter office of Illustrated Properties, a member of The Keyes Company.

In Miami, 37.6% of offers faced competition last month.

The NAHB/Wells Fargo Housing Market Index fell for the eighth straight month in August, as the key measure of builder confidence indicated a pessimistic outlook. 

Delray Beach is the No. 2 city in the analysis for average host income in the first quarter of 2022.

The expansion will bring RedfinNow into 34 markets in 16 states and Washington, D.C.

The brokerage’s new “communities” will provide its agents with specialized training, technology, coaching and referral opportunities. 

Homebuyers may catch a break this month as rates have come down nearly a point from the recent high on fears of a recession.

Sellers using Zillow may request and view an offer directly from Opendoor and compare it to an open-market sale with a real estate agent.