The board met May 11 during NAR’s legislative meetings in Washington, D.C. Votes focused on the 2024 budget, dues, fair housing training requirements and more.
Lessons learned during hard times often remain even when things get better. The recession lesson for new agents? Hard work and perseverance pay off.
Demand for rentals decreased a bit even as more units entered the market. As a result, April asking rents rose 0.3% compared to 1.4% in March and 16% one year ago.
The agency says “unscrupulous companies bait homeowners.” It’s taking comments on new proposed rules that make sure homeowners have the ability to repay.
FHFA cancels loan fees slated to become effective in August. Based on feedback, it says implementation is “challenging.” NAR calls it a good decision.
For many buyers, “Rover will love the fenced-in backyard” can be the difference between continued scrolling or scheduling a showing.
April prices increased 0.4% month-to-month, up from 0.1% in March. Inflation has clearly peaked, but rising items' costs still outweigh the ones going down.
While most social media apps work at all price levels, a Chicago agent says Real Messenger, 1060 and Ri.la have properties that appeal to luxury clients.
NAR: Commercial performance will vary from metro to metro, and tighter lending now adds a new challenge. But net absorption has been mostly positive nationwide.
Home prices continue to rise in most (70%) of the U.S., and are up notably year-to-year in the 7% of markets that saw double-digit gains.
