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News Updates

Homebuyers on a $3,000 Monthly Budget Have Gained $40,000 in Purchasing Power Since Mortgage Rates Peaked Last Fall

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Redfin reports buyers can afford a more expensive home now that mortgage rates have dropped to 6.7%, down from nearly 8% in October A homebuyer on a $3,000 monthly budget has gained nearly $40,000 in purchasing power since mortgage rates peaked this past fall, according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage. A $3,000 monthly budget will buy a $453,000 home with a 6.7% mortgage rate, roughly

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Price Growth Starts the Year Strong But Harsh Weather Freezes Out Some Would-Be Homebuyers

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Redfin agents in areas affected by inclement weather report slow homebuying activity, but agents in warmer locales say buyers and sellers are active as mortgage rates stay in the high-6% range, down from 8% a few months ago The median U.S. home-sale price rose 5.1% during the four weeks ending January 21, the biggest increase since October 2022, according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage. Asking

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Association of Independent Mortgage Experts (AIME) Announces Jonathon Haddad as New CEO

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Haddad Will Focus Association Efforts on Wholesale Channel Growth The Association of Independent Mortgage Experts (AIME), the leading membership organization representing the independent mortgage broker industry, announced the appointment of Jonathon Haddad as Chairman and Chief Executive Officer. Mr. Haddad is joining the AIME staff immediately as CEO and will assume the Chairman role on April 1, 2024, when current Chairman and CEO Katie Sweeney steps down to become the

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HOME-SELLING PROFITS DROP IN 2023 FOR FIRST TIME IN OVER A DECADE AMID MODEST PRICE GAINS

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Profits on Home Sales Across U.S. Decrease for First Time Since 2011;Typical Seller Gains Remain Strong, But Decline from 60 Percent to 57 Percent;National Median Home Price Rises at Slowest Pace in 12 Years ATTOM, a leading curator of land, property and real estate data, released its Year-End 2023 U.S. Home Sales Report, which shows that home sellers made a $121,000 profit on the typical sale in 2023, generating a 56.5 percent return

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Realtor.com® December Rental Report: Price Peak Behind Us as Rents Continue to Fall at Year’s End

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In December, U.S. median rents dropped (-0.4%) for the eighth month in a row and across all-sized homes The U.S. rental market experienced a noticeable shift in momentum in 2023 and closed out the year with eight straight months of year-over-year price declines, according to the Realtor.com® December Rental Report. While rents are overall up from pre-pandemic levels, an uptick in supply from a building boom in recent years means 2023

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Nearly 80% Of Prospective Homebuyers Willing to Adjust Their Homebuying Plans

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New data reveals property and financing options prospective homebuyers are willing to consider. From purchasing multi-family properties to co-owning with friends and family, prospective buyers are willing to get creative to become homeowners in the next 12 months, new data reveals. In a consumer survey, RE/MAX, the #1 name in real estate, showcases Americans’ plans for achieving homeownership in 2024. The housing market has experienced a few years of record-high

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