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News Updates

Realtor.com® March Housing Report: Housing Market Takes a Step in a Buyer-Friendly Direction

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March data shows the largest share of price reductions since 2019 with 34 out of the 50 largest metros showing an uptick in drops According to the Realtor.com® March housing report, buyers are looking at an optimistic mix of increasing inventory and an uptick in price reductions going into the Spring season. In March, the percentage of homes with price reductions increased to 15.0% – the largest share in 5 years

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Moderate House Price Increases Expected as Market Adjusts to High Rates

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Veros Real Estate Solutions (Veros®), an industry leader in enterprise risk management and collateral valuation services, released its 2024 Q1 VeroFORECASTSM, with projections indicating an average nationwide appreciation of 2.9% over the next 12 months. This is an upward revision from last quarter’s forecast of 2.4%. VeroFORECASTSM evaluates home prices in over three hundred of the nation’s largest housing markets, and Veros is committed to the data science of predicting home value based

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The US has a record-high 550 ‘million-dollar’ cities

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Low inventory is keeping competition high and home values rising The U.S. has a record-high 550 “million-dollar” cities — cities where the typical home is worth $1 million or more — a new Zillow® analysis shows. That is 59 more million-dollar cities than a year ago, reversing losses from when home values were wobbling this time last year. A tight housing market with few homes available has kept home values rising, even while affordability challenges have

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The Typical Homebuyer’s Down Payment Is $56,000, Up 24% From a Year Ago

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Redfin reports over one-third of home purchases in February were made in all cash—not far from the record high The median down payment for U.S. homebuyers was $55,640 in February, according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage. That’s up 24.1% from $44,850 a year earlier—the largest annual increase in percentage terms since April 2022. The typical homebuyer’s down payment last month was equal to 15% of

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HOME AFFORDABILITY IMPROVES SLIGHTLY DURING FIRST QUARTER BUT REMAINS DIFFICULT FOR AVERAGE WORKERS

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Major Home-Ownership Expenses Require Smaller Portion of Wages for Second-Straight Quarter; Historical Affordability Also Inches Upward; But Both Measures Remain Near Worst Levels in 15 Years as Home Prices Stay Close to All-Time Highs ATTOM, a leading curator of land, property, and real estate data, released its first-quarter 2024 U.S. Home Affordability Report showing that median-priced single-family homes and condos remain less affordable in the first quarter of 2024 compared to historical

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“Georgia Squatter Reform Act”

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NRHC is pleased to report that two bills targeting the issue of illegal occupation have passed both the House and Senate in the Georgia legislature. Both bills, developed with input and guidance from NRHC, now head to the Governor for his expected signature. While there is opportunity for the bills to be further refined and strengthened in future sessions, both will likely provide some degree of protection and remedy in

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