A month in review: The August housing market (National)

The month was full of setbacks due to low inventory Key Takeaways by MARIAN MCPHERSON Inman Staff Writer Here’s a recap of pending home sales, existing home sales, price indices and studies from NAR, S&P Dow Jones, Zillow and Trulia. Learn the New Luxury Playbook at Luxury Connect | October 18-19 at the Beverly Hills Hotel Every month, economists release […]

Freddie and Fannie’s appraisal-free mortgages to slash closing times

Mortgage Guarantor’s use of AVMs will be Boon to Buyers, Gut-punch to Appraisers When real estate broker Hank Miller explains the mortgage process to buyers, he gives it to them straight. “It’s going to be the biggest pain in the ass that you’ve been through,” he says. Freddie Mac and Fannie Mae, government-owned entities that […]

Boost in rental construction keeping would-be buyers at bay

The rental market is benefiting from a record year of new apartment construction While the housing market continues to deal with the inevitable strain of low inventory, the rental market is benefiting from a record year of new apartment construction that is stabilizing rent growth and making would-be buyers think twice about transitioning into homeownership. […]

Expect the ‘longest economic expansion’ since WWII, says economist

Don’t hold your breath for a recession anytime soon, says Cushman & Wakefield’s global chief economist Key Takeaways Kevin Thorpe, global chief economist at Cushman & Wakefield, thinks there’s little cause to worry about a recession in the next couple of years. Consumer confidence is high, and although the government is experiencing gridlock in Washington, […]

Fed announces third rate hike in 7 months

Committee cites strengthening labor market and declining inflation As anticipated, today the Federal Reserve implemented a quarter-point federal funds rate hike, increasing its benchmark target to between 1 percent and 1.25 percent “in view of realized and expected labor market conditions and inflation,” the Federal Open Market Committee said. The decision marks the fifth hike […]

NAR bets on Upstream with additional $9M in funding

Data management company expected to repay funds upon hitting profitability WASHINGTON — The board of directors of the National Association of Realtors (NAR) last week approved an additional $9 million in funding for broker data management platform Upstream. The company behind the platform, UpstreamRE, is expected to repay the funds when it achieves profitability. The funds […]

Is Trump’s tax plan good for homeowners? Nope, says NAR

The country’s largest trade association released a statement that said the tax plan would hurt homeownership Key Takeaways “By doubling the standard deduction and repealing the state and local tax deduction the plan would effectively nullify the current tax benefits of owning a home,” said NAR President Bill Brown. The proposed reform would reduce the […]