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Zillow, Realtor.com team up on syndicated rental listings

USA Real Estate News-Inman - Wed, 2024-03-06 17:26
The ongoing portal war has now sparked a new alliance that'll see Zillow's rental listings show up on Realtor.com's site.

Appeals court rules Chicago transfer tax hike can move ahead

USA Real Estate News-Inman - Wed, 2024-03-06 17:16
Voters are set to decide on March 19 whether they want to quadruple the tax buyers pay on real estate purchases above $1.5 million. Realtors say it amounts to a secret tax and rent hike.

Fed Chair Powell Affirms Rate Cuts Are Coming This Year as U.S. Moves Closer to 2% Inflation Goal

USA Real Estate News-RISMedia - Wed, 2024-03-06 16:28

Federal Reserve Chair Jerome Powell on Wednesday signaled that rate cuts are coming this year, sticking to the Fed’s cautious script about slashing rates too quickly before it has a sustained handle on inflation. “In our pursuit of our dual mandate, the Federal Reserve remains steadfast in promoting maximum employment and stable prices for the…

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Single-Family Home Production Shows Signs of Uptick

USA Real Estate News-RISMedia - Wed, 2024-03-06 16:11

According to the National Association of Home Builders’ (NAHB) Home Building Geography Index (HGBI), quarter 4 of 2023 showed signs of single-family home construction picking up. This “stirring” is attributed to “moderating” mortgage rates (i.e. demand is picking up) and the lack of inventory necessitating new construction. However, the multifamily building sector showed either negative…

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Homebuyers sit up and take notice as mortgage rates fall

USA Real Estate News-Inman - Wed, 2024-03-06 15:40
Purchase loan applications jump by a seasonally adjusted 11 percent after five consecutive weeks of declines as mortgage rates continue to retreat from 2024 highs.

2024: The Year of ‘Life Happens’

USA Real Estate News-RISMedia - Wed, 2024-03-06 14:15

2023’s housing market ended with a whimper. There were just over four million existing home sales nationwide last year, the fewest since 1995. Elevated mortgage rates and high home prices forced some prospective buyers to exit the market. However, a lack of inventory continues to be the biggest constraint on the market. Existing homeowners have…

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The February 2024 Luxury Market Report

USA Real Estate News-RISMedia - Wed, 2024-03-06 14:10

The Institute’s Luxury Market Report is your guide to an analysis on the trends and comparative data on the top residential markets throughout the United States and Canada.  February’s report reviews the current statistics for the luxury market in North America month over month, as well as the 13-month trend.  As we step into 2024,…

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Howard Hanna Voluntarily Dismissed Without Prejudice in Batton Case

USA Real Estate News-RISMedia - Wed, 2024-03-06 13:09

There’s one less defendant in an Illinois-based commission suit known as Batton, filed this past November by homebuyers claiming to have suffered antitrust injury due to a conspiracy between the National Association of REALTORS® (NAR) and big brokerages. The seven plaintiffs voluntarily dismissed their claims against Howard Hanna without prejudice which, in short, indicates that…

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Mortgage Applications Begin to Thaw for Spring

USA Real Estate News-RISMedia - Wed, 2024-03-06 13:01

Mortgage applications increased 9.7% from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending Mar. 1, 2024. This week’s numbers: The Market Composite Index, a measure of mortgage loan application volume, increased 9.7% on a seasonally adjusted basis from one week earlier.  On an…

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