Tag: Home Sales U.S.
Ending of Sales Commission Expected to Boost Homebuying
The National Association of Realtors announced a settlement with groups of home sellers, in which the realtor association agreed to end antitrust lawsuits through a settlement involving the payment of $418 million in damages and the elimination of rules stipulating a 6% realtors' commission...
Existing Home Sales Fall to Slowest Pace in 30 Years
Data from the National Association of Realtors (NAR) revealed that existing home sales fell to 4.09 million in 2023; the slowest rate in 30 years and 19% lower than 2022. The NAR insisted that market conditions weren't as bad in the early 1990s when...
Homebuyers Rely Increasingly Less on Down Payment Loans
U.S. homebuyers are relying less on family members and other loved ones for assistance in paying down payments despite a rise in home prices. A recent study by the National Association of Realtors (NAR) showed that down payment gifts from family members and friends...
Home Sales Dive as Mortgage Rates Hit 23-Year High
Homebuyers are increasingly backing out of deals as mortgage rates stand at a 23-year high. Dara from Redfin found that around 53,000 home purchase agreements in the US were abandoned in September; 16.3% of all home sale contracts that month. This is the highest...
Home Sales Plummeted in August According to Pending Data
Pending home sales for August were down 7.1% from the previous month, data from the National Association of Realtors revealed. This far outpaces the 1% decline projected by Bloomberg economists and is also a stark contrast from the 0.9% monthly increase recorded in July.
Several...
New Home Sales Plummet in August
Sales of new U.S. single-family homes plunged in August as the 30-year mortgage rate rose past 7%, thereby discouraging would-be buyers. According to data from the Commerce Department on Tuesday, new home sales declined by 8.7% to a seasonally adjusted rate of 675,000 units,...