Existing-home prices hit new record as sales slow | Tell us: What's your funniest memory on the job? | Setting realistic price may ensure short time on market
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Setting realistic price may ensure short time on market Real estate professionals in the Birmingham, Ala., area are helping clients navigate a changing market, noting that even as sales slow, houses priced appropriately continue to move fast. "You should complete any tasks/projects, stage rooms and have photos taken. This way when [you] find your new home, your agent can immediately switch your listing in [the] MLS to 'active' with the click of a button," agent Jake Callahan says. Full Story: Bham Now (Birmingham, Ala.) (7/19)
Developers of senior housing offer an array of options The senior housing market is rebounding from the pandemic, spurred on by projects and product types being introduced by developers eager to accommodate a large demographic and its varying needs. "Everybody is trying to figure out the secret sauce—what the senior housing consumer wants," says Beth Mace, chief economist for the National Investment Center for Seniors Housing & Care. Full Story: The New York Times (7/19)
Uncertainty reportedly pushes investors to slow home buying American Homes 4 Rent, KKR & Co.'s My Community Homes and other entities have recently slowed their purchases of single-family rental homes amid elevated prices and financing costs, with some investors slashing buying activity by more than half, sources say. Meanwhile, some investors are raising money for future purchases, with NexPoint Advisors recently launching an initiative to bring in up to $2.5 billion for a single-family rental fund. Full Story: Bloomberg (7/18)
Technology & Innovations
Real estate pros are learning to love EVs A small cadre of practitioners are leaving gas-powered cars behind. Their experiences—along with advances in battery life and charging—may put you on the electric path, too. Full Story: REALTOR® Magazine (7/18)
Fair & Equitable Housing
New York rents out of reach even on 6-figure salary People with an annual salary of up to $121,000 are eligible for New York City's affordable housing lottery, a fact that underscores the high cost of living in the city. Market listings for a one-bedroom apartment can reach $5,750 per month. Full Story: Quartz (7/19)
Legislation & Regulation
Experts critical of FHA's failure to reduce borrower fees Policy experts have expressed concern over the Federal Housing Administration's decision not to cut mortgage insurance premiums, with some speculating that the FHA is giving in to budgetary pressure. "That could mean they're worried about the [Mutual Mortgage Insurance] fund going negative, which is an impossibility," said Dave Stevens, a former FHA commissioner. Full Story: HousingWire (7/18)
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The National Association of REALTORS® is America's largest trade association, representing more than 1.5 million members involved in all aspects of the residential and commercial real estate industries. REALTOR® Magazine is the official magazine of NAR, bringing expert insight to real estate trends, tools, and business strategies.
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