National Association of Realtors
Recent News About National Association of Realtors
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WASHINGTON (May 1, 2024) — Today, the Department of Housing and Urban Development (HUD) and the Government-Sponsored Enterprises (GSEs) introduced a new process to allow consumers to request a reappraisal of their property valuations. This initiative aims to provide consumers with a platform to challenge appraisal values when purchasing a home or refinancing a mortgage."We applaud HUD and the GSEs for establishing this process so consumers can more readily obtain a second look at appraisals when they disagree with them," stated Bryan Greene, NAR's vice president of policy...
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Charitable giving among Realtors® and Realtor® associations has shown a significant increase, as revealed in the 2024 Community Aid and Real Estate Report issued by the National Association of Realtors®. The report highlights the enhanced monetary and volunteer contributions made by NAR members, broker-owners, and AEs or MLS staff in the past year.According to NAR President Kevin Sears, a broker-partner of Sears Real Estate, Realtors® have shown remarkable dedication to giving back to their communities. Sears stated, "Realtors® are intertwined with and engaged in their...
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Pending home sales increased 3.4% in March.Month over month, contract signings rose in the Northeast, South and West but dropped in the Midwest.Compared to one year ago, pending home sales declined in the Northeast and South while the Midwest and West improved.WASHINGTON (April 25, 2024) – Pending home sales in March climbed 3.4%, according to the National Association of REALTORS®. The Northeast, South and West posted monthly gains in transactions while the Midwest recorded a loss. Year-over-year, the Northeast and South registered decreases but the Midwest and West...
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Existing-home sales in the United States saw a decline of 4.3% in March, with a seasonally adjusted annual rate of 4.19 million, as reported by the National Association of REALTORS®. This drop marks a 3.7% decrease from the previous year. The median existing-home sales price also experienced an increase, reaching $393,500, the highest price ever recorded for the month of March and marking the ninth consecutive month of year-over-year price gains.NAR Chief Economist Lawrence Yun commented on the current state of the housing market, noting that while home sales are...
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Second Century Ventures, the strategic investment arm of the National Association of Realtors® and the most active global real estate technology fund, has revealed the eight companies selected to participate in the 2024 REACH program. Mark Birschbach, NAR's senior vice president for strategic business innovation and technology, emphasized the program's goal of driving innovation in real estate technology, stating, "Our aim is to push the boundaries of what's possible, equipping agents who are Realtors® with tools and insights that foster exceptional client service and...
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The National Association of Realtors® has recently announced a new partnership with SoFi, providing exclusive financial benefits for NAR members and their clients. Rhonny Barragan, NAR vice president of strategic alliances, expressed excitement about the collaboration, stating, "This partnership amplifies our support for the diverse financial needs of our members." SoFi's vice president and business lead, Michael Bourgeois, also shared his enthusiasm for the partnership, saying, "We're extremely excited to partner with NAR to provide a one-stop financial solution to their...
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Millennials have surged ahead to become the largest group of home buyers, marking a significant shift in the housing market's demographic landscape, according to the latest report from the National Association of Realtors®."The generational tug-of-war between millennials and baby boomers continued this year, with millennials rebounding to capture the largest share of home buyers," said Dr. Jessica Lautz, NAR deputy chief economist and vice president of research. "This notable rise is attributed to both younger millennials stepping into homeownership for the first time and...
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The National Association of Realtors® and Realtor.com® recognized three outstanding individuals with the Fair Housing Champion Award during the Fair Housing Month event titled "Many Rivers to Cross: America’s Ongoing Fair Housing Journey."According to NAR President Kevin Sears, "Affordability and fair housing remain the most significant challenges confronting the real estate industry today, and I am immensely proud of the dedication displayed by our award recipients in expanding access to homeownership."One of the winners, Eve B. Lee from Lake County, Illinois, has been...
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Pending home sales in February grew 1.6%, according to the National Association of REALTORS®. The Midwest and South posted monthly gains in transactions while the Northeast and West recorded losses. All four U.S. regions registered year-over-year decreases."While modest sales growth might not stir excitement, it shows slow and steady progress from the lows of late last year," said NAR Chief Economist Lawrence Yun. "Ongoing job gains are clearly increasing demand along with more inventory."Lawrence Yun further added, "The high-cost regions in the Northeast and West...
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The Federal Housing Administration (FHA) said the recent increase in the dollar amount threshold for large multifamily loans will simplify the process of assessing risks for insurers of multifamily housing developments.