Tag Archives: National Association of Realtors (NAR)

As climate changes expose more U.S. housing stock to potential flood damage, the Congressional Budget Office has issued an impact report encompassing homeowners with mortgages protected by the GSEs or backed by the FHA or VA.

According to National Association of Realtors Chief Economist Lawrence Yun, mortgage rates will be between 6-7% by next spring. Here’s what that may mean for existing home sales.

In a letter to Mike Johnson, Speaker of the United States House of Representatives, 11 housing organizations have issued a letter to Congress to extend the authority of the NFIP by ensuring other vital housing programs do not lapse on November 17.

NAR reports that homebuyer income has seen an annual increase of 22% in 2023, as down payments have jumped to the highest percentage in over two decades.

With mortgage rates plummeting 26 basis points week-over-week, Redfin reports that buyers may have a limited amount of time to take advantage. The average rate now sits at its lowest level since mid-September … but for how long?

NAR reports that single-family existing-home sales prices rose in the vast majority of metros nationwide in the third quarter, with the national median home price growing to more than $406K.

"Home buyers face the most difficult affordability conditions in nearly 40 years due to limited inventory and rising mortgage interest rates," said Jessica Lautz, NAR's Deputy Chief Economist and VP of research. Read on for details from a new NAR study.

Including pending home sales numbers, the National Association of Realtors also updated its annual economic forecasts for 2023 and 2024. Click through to find out how much pending home sales numbers changed from last year and to view the NAR’s economic forecast.

Inventory increased by a modest amount, pushing it past three months’ of supply, while the median existing home sales price grew for the third month in a row. Find all the details in this breakdown of new NAR data.

The MBA, NAR, and NAHB have sent a letter to the Board of Governors of the Federal Reserve about the industry’s concerns over negative market impacts stemming from the Fed’s monetary policy actions.