2024 – Page 8 – REI INK

RE/MAX NATIONAL HOUSING REPORT FOR SEPTEMBER 2024

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Inventory Grows as Home Sales Cool, Prices Dip Slightly The number of homes for sale climbed for the seventh consecutive month across the 52 metro areas surveyed – 6.4% higher than August and 33.6% above September 2023 levels. New listings also increased 9.7% compared to September 2023. At the same time, September home sales cooled off 13.3% from August – a seasonal norm. Home sales dropped 13.8% and 9.7% from August to September in 2023 and 2022, respectively. Meanwhile, the median sales price dropped 1.4% from August to $429,000. Sales were 3.1% below a year ago while the sales price was 4.6% higher. Year to date, 2024 home sales have exceeded 2023 levels in five of nine months while September’s median sale price was higher year over year for the 15th consecutive month. “While we’re seeing a slight cooling in sales, it’s encouraging to note that home inventory has been steadily increasing, giving buyers more options in the market,” said RE/MAX, LLC President Amy Lessinger. “The consistency in sales prices and the fact that buyers are still paying 99% of asking price demonstrates the resiliency in today’s housing market. Lower rates could generate some increased activity as we end 2024 and start 2025.” The Atlanta market has seen incremental increases in active inventory since January – steadily rising 63% over the past eight months; however, RE/MAX Around Atlanta Broker/Owner Kristen Jones said, “While inventory has trended up, it is still very low and there simply is not enough inventory under half a million dollars. Sales are up in some price points – especially over $500,000 – but I think rates need to drop to really see some change.” Other metrics of note: Highlights and local market results for September include: New Listings In the 52 metro areas surveyed in September 2024, the number of newly listed homes was down 0.3% compared to August 2024, and up 9.7% compared to September 2023. The markets with the biggest increase in year-over-year new listings percentage were Bozeman, MT at +35.9%, Phoenix, AZ at +32.8%, and Las Vegas, NV at +27.5%. The markets with the biggest year-over-year decrease in new listings percentage were Tampa, FL at -12.3%, San Francisco, CA at -12.0%, and San Antonio, TX at -9.1%. New Listings:5 Markets with the Biggest YoY Increase Market Sep 2024 Sep 2023 Year-over-Year % Change Bozeman, MT 246 181 +35.9 % Phoenix, AZ 8,795 6,624 +32.8 % Las Vegas, NV 4,125 3,236 +27.5 % San Diego, CA 3,078 2,475 +24.4 % Urban Honolulu, HI 982 807 +21.7 % Closed Transactions Of the 52 metro areas surveyed in September 2024, the overall number of home sales was down 13.3% compared to August 2024, and down 3.1% compared to September 2023. The markets with the biggest decrease in year-over-year sales percentage were Tampa, FL at -21.9%, Omaha, NE at -16.2%, and Miami, FL at -16.1%. The markets with the biggest increase in year-over-year sales percentage were Coeur d’Alene, ID at +17.2%, Salt Lake City, UT at +9.5%, and Dover, DE at +7.8%. Closed Transactions:5 Markets with the Biggest YoY Decrease Market Sep 2024 Sep 2023 Year-over-Year % Change Tampa, FL 3,713 4,755 -21.9 % Omaha, NE 924 1,102 -16.2 % Miami, FL 5,029 5,997 -16.1 % Pittsburgh, PA 1,714 1,964 -12.7 % Des Moines, IA 784 894 -12.3 % Median Sales Price – Median of 52 metro area pricesIn September 2024, the median of all 52 metro area sales prices was $429,000, down 1.4% compared to August 2024, and up 4.6% from September 2023. The markets with the biggest year-over-year increase in median sales price were Hartford, CT at +11.9%, Cleveland, OH at +9.1%, and Providence, RI at +8.9%. The markets with the biggest year-over-year decrease in median sales price were Coeur d’Alene, ID at -4.7%, San Antonio, TX at -3.1%, and Tampa, FL at -2.6%. Median Sales Price:5 Markets with the Biggest YoY Increase Market Sep 2024 Sep 2023 Year-over-Year % Change Hartford, CT $375,000 $335,000 +11.9 % Cleveland, OH $239,950 $220,000 +9.1 % Providence, RI $479,000 $440,000 +8.9 % Richmond, VA $399,000 $368,000 +8.4 % Anchorage, AK $406,079 $375,000 +8.3 % Close-to-List Price Ratio – Average of 52 metro area pricesIn September 2024, the average close-to-list price ratio of all 52 metro areas in the report was 99%, the same as in both August 2024 and September 2023. The close-to-list price ratio is calculated by the average value of the sales price divided by the list price for each transaction. When the number is above 100%, the home closed for more than the list price. If it’s less than 100%, the home sold for less than the list price. The metro areas with the lowest close-to-list price ratio were Miami, FL at 94.1%, Bozeman, MT at 95.8% and Coeur d’Alene, ID at 97.0%. The metro areas with the highest close-to-list price ratio were Hartford, CT at 103.6%, San Francisco, CA at 103.5%, and Trenton, NJ at 102.3%. Close-to-List Price Ratio:5 Markets with the Lowest Close-to-List Price Ratio Market Sep 2024 Sep 2023 Year-over-Year Difference* Miami, FL 94.1 % 94.9 % -0.8 pp Bozeman, MT 95.8 % 97.1 % -1.3 pp Coeur d’Alene, ID 97.0 % 95.9 % +1.1 pp Tampa, FL 97.0 % 97.5 % -0.6 pp Houston, TX 97.1 % 97.3 % -0.3 pp *Difference displayed as change in percentage points Days on Market – Average of 52 metro areasThe average days on market for homes sold in September 2024 was 40, up two days compared to the average in August 2024, and up five days compared to September 2023. The metro areas with the lowest days on market were Baltimore, MD at 13, Washington D.C. at 14, and Trenton, NJ at 15. The highest days on market averages were in Coeur d’Alene, ID at 79, San Antonio, TX at 73, and Fayetteville, AR at 72. Days on market is the number of days between when a home is first listed in an MLS and a sales contract is signed. Days on Market:5 Markets with the Lowest Days on Market Market Sep 2024 Sep 2023 Year-over-Year % Change Baltimore, MD 13 12 +8.7 % Washington, DC 14 14 +6.4 % Trenton, NJ 15 13 +19.0 % Philadelphia, PA 16 15 +8.7 % Hartford, CT 17 30 -42.4 % Months’ Supply of Inventory – Average of 52 metro areasThe number of homes for sale in September 2024 was up 6.4% from August 2024 and up 33.6% from September 2023. Based on the rate of home sales in September 2024, the months’ supply of inventory was 2.7, up from 2.4 in August 2024, and up from 2.1 in September 2023. In September 2024, the markets with the lowest months’ supply of inventory were Manchester, NH at 1.1, Seattle, WA, Trenton, NJ and Baltimore, MD tied at

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Most homeowners and renters want to live in a place where abortion is legal, with some survey respondents indicating they’re moving to a different area to live somewhere abortion is legal and accessible Seven percent of Gen Zers who plan to move soon say one reason is to live in a place where abortion is legal and accessible, and one in 20 (5%) millennials say the same thing, according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage. At least 50% of respondents across every generation said they want to live somewhere abortion is legal, with millennials leading the way; 59% said they want to live in such a place, followed by just over half of both Gen Zers and Gen Xers, and exactly half of baby boomers (note that the oldest baby boomers surveyed were 65). Baby boomers and Gen Xers were mostly likely to say they don’t want to live somewhere abortion is legal (30% each). Overall, 54% of respondents want to live in a place where abortion is legal, compared to 28% who don’t want to. Broken down by political affiliation, more than one-third (35%) of respondents who plan to vote for Donald Trump in the upcoming presidential election want to live in a place where abortion is legal, while 45% of Trump voters don’t want to live in such a place. Three-quarters (75%) of Kamala Harris voters want to live in such a place, and 13% don’t want to. Four percent of Trump voters say they’re moving soon because they want to live in a place where abortion is legal, and 6% of Harris voters say the same thing. The U.S. Supreme Court’s overturning of Roe v. Wade in 2022 means the legality of abortion differs from state to state. For some Americans, that has made the decision about which state to live in more important than it used to be. Kamala Harris promises to federally protect abortion rights, and Donald Trump’s view is murkier; he has expressed support for some version of a national abortion ban, but has also said the issue should be left to the states. Two-Thirds of Young People Want to Live in an IVF-Friendly Place Roughly two-thirds of millennials (64%) and Gen Zers (66%) want to live in a place where IVF and other fertility treatments are easily accessible. Most older respondents also want to live in a place where IVF is accessible: 60% of Gen Xers want to, and 54% of baby boomers. Broken down by political affiliation, most Trump voters (52%) want to live somewhere IVF and other fertility treatments are accessible, compared to 15% who don’t want to. Three-quarters (75%) of Harris voters want to live in such a place; 10% don’t want to. Access to fertility treatments has become a hot button issue as at least one state has effectively ended access to IVF, and other states have introduced legislation to do something similar. Trump and Harris have both said they support access to IVF. The survey findings in this report are from a Redfin-commissioned survey conducted by Ipsos in September 2024. The survey was fielded to 1,802 people aged 18-65. It focuses on two questions, one asking respondents why they’re likely to move in the next year, and one asking about the importance of living in an area where abortion is legal. To view the full report, including charts and more on methodology, please visit: https://www.redfin.com/news/survey-abortion-access-choosing-where-to-live/ Contacts Contact RedfinRedfin Journalist Services:Isabelle Novakpress@redfin.com

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New pending sales higher while prices continue to rise Conditions are improving for buyers in the Mid-Atlantic. Mortgage rates have fallen, inventory is increasing, and buyers have more time to make a decision. While the market is still competitive, this fall will be a better market than buyers have seen in quite some time. Mortgage rates fell to a 20-month low in September and are now just above 6%. The drop in mortgage rates means that prospective homebuyers will save around $300 on the monthly payment of the median-priced home in the region. That drop in rates brought more home shoppers in the market this September. The number of home showings is up in many markets and more offers are being made. There were 19.945 new pending sales across the Bright MLS service area, which is up 10.3% compared to a year ago. “There are many prospective homebuyers who have been waiting for mortgage rates to fall,” said Dr. Lisa Sturtevant, Bright MLS Chief Economist. “The recent drop in rates has motivated both home buyers and home sellers to get into the market, which means that it will likely be a very busy fourth quarter.” Inventory has been increasing for eight consecutive months in the Bright MLS service area. At the end of September, there were 38,205 total active listings, which is up 16.8% compared to a year ago. Despite the steady increases, overall inventory is still just over half of what it was in 2019. The low inventory is the primary reason why home prices in the region continue to rise. In the Bright MLS service area, the median sold price in September was $410,000, which is down from the summer peak but is an increase of 6.4% over last September. Dropping mortgage rates and more supply will continue to drive more buying activity. It will likely be a busy market for the last few months of the year, with 2024 wrapping up stronger than 2023. Affordability challenges remain for some buyers, with prices expected to continue to rise. More affordable markets could see more buyer interest than more expensive regions. September 2024 Mid-Atlantic Housing Market by Region Philadelphia:Lower rates and more inventory could fuel a busy fall market in Philadelphia Baltimore:Market activity has been sluggish, but sales should pick up in the 4th quarter Washington, D.C.:Home sales in the Washington DC region are picking up as mortgage rates fall The full Mid-Atlantic and market metro area reports are available at BrightMLS.com/MarketInsights. SOURCE Bright MLS

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Innovative Program is also a Boon for Renters, Who Can Forgo Security Deposits, Protect their Belongings and Keep their Pets Incenter Insurance Solutions, a national broker, announced a new Profit Sharing Renters Program that enables property owners and property managers to capitalize on the burgeoning rental market while reducing their risks and increasing their revenues. The innovative coverage package is designed for property owners and property managers responsible for 1,000 or more rental units, and delivers an average of $300 in added profits per unit per year. It also offers significant financial benefits for renters, who can forgo large, lump sum security deposits in favor of low monthly insurance payments, protect their belongings, and keep their beloved pets. “We’re excited to offer a program that gives property owners and property managers a competitive advantage by responding to the changing needs of today’s renters. This solution will enable our clients to grow their incomes, while making their properties more attractive to prospective tenants,” said Mike Griffith, program director, Incenter Insurance Solutions. In the U.S., it’s common for property owners and property managers to require both a security deposit and a $100,000 renters liability policy—a burden for tenants who must cough up one or more months of rent, totaling hundreds or thousands of dollars, for the security deposit alone. Moreover, more than 70% of renters own pets, and they are likely to be required to pay an additional pet damage security deposit and/or related monthly fee. The Incenter Insurance Solutions program for all types of residential units, student housing, and storage units includes: When tenants opt into this coverage, a majority of the premiums are pooled in a captive trust account to pay claims. At the end of each policy period, property owners and property managers keep 100% of their net reserves, plus any investment income. Individuals seeking more information should contact Mr. Griffith at Michael.griffith@incenterls.com or 215-370-1492, or see incenterinsurance.com. About Incenter Insurance Solutions Licensed in all 50 states, Incenter Insurance Solutions provides personal, commercial, health and life insurance services and solutions that help clients advance their goals. The firm’s flexibility and partnerships with dozens of carriers enable them to custom-design solutions with creative precision. Incenter Insurance Solutions has offices in Fort Washington, Pa. and Parsippany, N.J. For more information, visit incenterinsurance.com. Contact Dawn Ringel, dawn.ringel@incenterls.com

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Foreclosure Starts Down 10 Percent from Last Year; Bank Repossessions Down 12 Percent from Last Year ATTOM, a leading curator of land, property data, and real estate analytics, released its Q3 2024 U.S. Foreclosure Market Report, which shows a total of 87,108 U.S. properties with a foreclosure filing during the third quarter of 2024, down 2 percent from the previous quarter and down 13 percent from a year ago. The report also shows a total of 29,668 U.S. properties with foreclosure filings in September 2024, down 2 percent from the previous month and down 19 percent from a year ago. “While we are seeing a decrease in foreclosure starts and repossessions, it’s crucial to remain vigilant, as any economic disruptions or changes in interest rates could shift the current trend,” said Rob Barber, CEO of ATTOM. “Moving forward, we anticipate foreclosure levels will stay relatively low, but there could be localized increases in areas struggling with affordability or other market pressures.” Foreclosure starts decrease nationwide A total of 62,380 U.S. properties started the foreclosure process in Q3 2024, down less than 1 percent from the previous quarter and down 10 percent from a year ago. States that had 1,000 or more foreclosures starts in Q3 2024 and saw the greatest annual decrease included, North Carolina (down 44 percent); Georgia (down 29 percent); Maryland (down 22 percent); New Jersey (down 20 percent); and South Carolina (down 19 percent). U.S. Foreclosure Starts Those major metros with a population of 200,000 or more that had the greatest number of foreclosures starts in Q3 2024 included, New York, New York (3,776 foreclosure starts); Chicago, Illinois (3,231 foreclosure starts); Los Angeles, CA (2,166 foreclosure starts); Miami, FL (2,142 foreclosure starts); and Houston, Texas (1,791 foreclosure starts). Highest foreclosure rates in Illinois, Nevada, and Florida Nationwide one in every 1,618 housing units had a foreclosure filing in Q3 2024. States with the highest foreclosure rates were Illinois (one in every 904 housing units with a foreclosure filing); Nevada (one in every 922 housing units); Florida (one in every 971 housing units); Delaware (one in every 1,060 housing units); and South Carolina (one in every 1,069 housing units). Among 224 metropolitan statistical areas with a population of at least 200,000, those with the highest foreclosure rates in Q3 2024 were Lakeland, Florida (one in 610 housing units); Provo, Utah (one in every 647 housing units); Macon, Georgia (one in every 649 housing units); Columbia, South Carolina (one in every 663 housing units); and Atlantic City, New Jersey (one in every 766 housing units). U.S. Historical Total Foreclosure Activity Other major metros with a population of at least 1 million and foreclosure rates in the top 15 highest nationwide, include Chicago, Illinois (one in every 775 housing units); Las Vegas, Nevada (one in every 796 housing units); Cleveland, Ohio (one in every 819 housing units); Orlando, Florida (one in every 859 housing units); and Riverside, California (one in every 867 housing units). Bank repossessions decrease 12 percent from last year Lenders repossessed 8,795 U.S. properties through foreclosure (REO) in Q3 2024, up 1 percent from the previous quarter but down 12 percent from a year ago. U.S. Completed Foreclosures (REOs) Those states that had the greatest number of REOs in Q3 2024 were California (852 REOs); Pennsylvania (715 REOs); New York (670 REOs); Illinois (668 REOs); and Michigan (559 REOs). Average time to foreclose increases 6 percent from last year Properties foreclosed in Q3 2024 had been in the foreclosure process for an average of 815 days. This remains the same from the previous quarter but represents a 6 percent increase from the same time last year, continuing an upward trajectory since Q3 2023. Average Days to Complete Foreclosure States with the longest average foreclosure timelines for homes foreclosed in Q3 2024 were Louisiana (3,520 days); Hawaii (2,531 days); New York (2,087 days); Rhode Island (1,880 days); and Georgia (1,876 days). States with the shortest average foreclosure timelines for homes foreclosed in Q3 2024 were New Hampshire (165 days); Minnesota (172 days); Texas (181 days); Michigan (189 days); and Montana (248 days). September 2024 Foreclosure Activity High-Level Takeaways Media Contact: Megan Hunt megan.hunt@attomdata.com Data and Report Licensing: datareports@attomdata.com

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Third Newsweek Award in 2024 Recognizes Cornerstone Building Brands’ Commitment to Fostering a Positive and Supportive Work Environment Cornerstone Building Brands, Inc. (“Cornerstone Building Brands”), a leading manufacturer of exterior building products in North America, has been named one of America’s Greatest Workplaces for 2024 by Newsweek. Compiled in partnership with market data research firm Plant-A Insights, the list is established by conducting a large-scale employer study based on more than 1.5 million comprehensive company reviews from approximately 250,000 employees in America, providing insight into compensation and benefits, training and career progression, work-life balance and company culture.1 “We’re honored to be recognized as one of America’s greatest workplaces for our ongoing efforts to foster a positive, supportive work environment where our employees can thrive,” said Rose Lee, President and CEO of Cornerstone Building Brands.“This award exemplifies our commitment to the shared values and behaviors our team members demonstrate every day that not only drive value for our customers, but also make Cornerstone Building Brands an employer of choice.” This recognition comes at an exciting time for Cornerstone Building Brands as the company continues to build on its core values – Safety, Integrity and Inclusion – and the behaviors and mindsets – Customer-Centric, Interconnected and Continuous Improvement – that are the foundation of its culture. As a result of its efforts, Cornerstone Building Brands has seen a reduction in voluntary employee turnover in every segment of its business year-to-date.2 By remaining deeply committed to engaging and motivating its team members, the company is well positioned to continue developing and maintaining a workplace that attracts top talent and nurtures their potential. “Finding a great workplace is an important decision that needs to factor in pay, respect, training and advancement, as well as healthy work-life balance,” said Nancy Cooper, Global Editor in Chief at Newsweek. “Newsweek and market-data research firm Plant-A Insights are proud to publish ’America’s Greatest Workplaces 2024,’ the second annual ranking that highlights companies which are committed to offering a positive and supportive working environment.” In addition to being honored among America’s greatest workplaces, Cornerstone Building Brands was named as one of America’s Most Responsible Companies 2024 and one of Americas Greatest Workplaces for Diversity 2024 by Newsweek. 1 Study methodology involved an assessment of publicly accessible data, discussions / interviews with HR professionals, and large-scale confidential online surveys conducted among employees working for U.S. companies that employ more than 500 employees in 2023 and that employ more than 1,000 employees in 2022. Additional methodology details can be found here. 2 Turnover reduction based on comparison of January to August 2024 data versus full-year 2023 data. ABOUT CORNERSTONE BUILDING BRANDS Cornerstone Building Brands is a leading manufacturer of exterior building products for residential and low-rise non-residential buildings in North America. Headquartered in Cary, N.C., we serve residential and commercial customers across the new construction and the Repair & Remodel (R&R) markets. Our market-leading portfolio of products spans vinyl windows, vinyl siding, stone veneer, metal roofing, metal wall systems and metal accessories. Cornerstone Building Brands’ broad, multi-channel distribution platform and expansive national footprint includes approximately 18,000 employees at manufacturing, distribution and office locations throughout North America. Corporate stewardship and Environmental, Social and Governance (ESG) responsibility are embedded in our culture. We are committed to contributing positively to the communities where we live, work and play. For more information, visit us at cornerstonebuildingbrands.com. Contacts Gia Oei, Vice President of Corporate Communications and Cultureresponse@cornerstone-bb.com