Consumer sentiment hits its highest since April. Long-term business conditions have reached their highest optimistic point in almost four years.
Despite higher home prices, the share of consumers who think it’s a good to time to buy increased to 20%. Those who think it’s a good time to sell declined to 64%.
A typical homeowner has accumulated $147,000 in housing wealth over the last five years. Prices remain on solid ground, NAR’s chief economist said.
NAR released a new guide for first time buyers and a video series for Realtors related to the practice changes for the proposed settlement.
Demand for apartments remains strong, but high construction costs, financing challenges, land shortages and regulations will slow development in the coming months.
Sellers have been turning to auctions when conventional sales methods don’t work, but some are seeing lower-than-expected sale prices or no sale at all.
High financing costs, geopolitics and AI innovations are among the most pressing topics facing real estate in the year ahead, the Counselors of Real Estate said.
Despite a drop in international property purchases in 2024, Florida remains appealing, with strong demand and opportunities for buyers.
The storm may have limited impacts on Florida as recovery efforts for Hurricanes Milton and Helene continue and independent contractors get more FEMA aid.
Updated forms include the Commission Agreement and Vacant Land Listing Agreement to incorporate changes resulting from the NAR settlement.
