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NAR Chief Economist Lawrence Yun paints a picture of what could happen with borrowing costs once it passes a critical threshold. Mortgage rates remained just shy of 7% this week—the 30-year fixed rate loan is at 6.94%—which could be a “new normal” after recent rapid increases in borrowing costs, says Nadia Evangelou, senior economist and director of forecasting for the National Association of...

There’s some encouraging news in NAR’s latest housing report, though sales of existing home are still falling amid economic uncertainty. Home sales continued sliding in September as home buyers retreat from the market amid near-7% mortgage rates and mounting recession fears. Total existing-home sales—comprising transactions for single-family homes, townhomes, condos and co-ops—dropped 1.5% last...

The median age of a home in the U.S. is 39 years old. The aging housing stock signals a growing remodeling market ahead, according to a new report from the National Association of Home Builders. As homes age, they need repairs or updated components such as appliances. Homeowners may add amenities to older homes as well, to have them better compete against more modern home styles and amenities. The...

From volunteering at local homeless shelters to community cleanup efforts, REALTORS® turned out in large numbers during the nationwide REALTOR® Volunteer Days, and the results of their giveback efforts are rolling in. At least half of the nation’s 1,138 local and state REALTOR® associations planned volunteer projects and invited their members to join the efforts during the week-long nationwide...

Smart-home technologies may help a growing number of older adults age in place, enabling them to improve their quality of life and continue to live independently longer, research shows. “Emerging technologies like smart beds and systems that detect falls can make aging in place a safer and more viable option,” Nadia Evangelou, senior economist and director of forecasting for the National Association of...

April 22 marks Earth Day and a new mobile app is showing homeowners how to track and reduce their home maintenance costs and carbon emissions. Dwellin is touted as a free, sustainable home mobile app that can help home, apartment, condo, and townhouse owners estimate and reduce annual home maintenance costs and their carbon footprint. “EV manufacturers, governments, and businesses are all working...

High home prices and mortgage rates are serving as a wake-up call to potential home buyers this spring that their budgets just aren’t going to go as far as they would have a year ago. In the first quarter of this year, 81% percent of consumers said they could afford less than half the homes for-sale in their markets. That marks the highest share since before the pandemic, the National Association of Home...

Every square foot can count in pricing a home. As such, home buyers are purchasing smaller homes as prices continue to soar. New data from Redfin shows that Americans are purchasing smaller homes than they did earlier on in the pandemic. In March, the typical home under contract was 1,720 square feet. That is down 1.8% compared to a year ago and about the same size as homes that were selling prior to...

Home sellers in 2021 may have been a little shocked at the profit they made selling their homes. A report shows that home sellers nationwide realized a profit of $94,092 on a typical sale in 2021, up 71% from two years ago, according to ATTOM Data Solutions, a real estate data firm. Home seller profits rose in more than 90% of the housing markets tracked based on median purchase and resale prices,...

Americans under the age of 30 are on the move. They’re buying, selling, and moving at high rates, largely driven by career changes and the pandemic, according to the new State of Homeownership Report released by Matic, an insurtech platform. Senior homeowners, on the other hand, are less likely to change their living arrangements or consider refinancing compared with younger adults, the survey...