National News

NAR: Existing-home sales tick higher in May 

At the same time, the median existing-home price for all housing types slid 3.1% year over year to $396,100. 

NAR CEO Bob Goldberg to retire at end of 2024

Goldberg’s retirement comes after 30 years of service with NAR and four decades of real estate experience.

Single-family home starts jump in May 

The larger-than-expected increase comes as homebuilder sentiment rose for the sixth month in a row. 

Housing inventory faces largest decline since 2022

There are nearly 40% fewer homes for sale now than before the pandemic began

Fed pauses interest rate hikes

The Federal Reserve on Wednesday halted its streak of 10 consecutive rate hikes since March 2022.

There aren’t enough affordable homes on the market for middle-income buyers

Homes affordable to middle-income buyers — defined as households earning up to $75,000 — fall in the $256,000-to-$320,000 range. But of the over one million U.S. homes on the market at the end of April, less than a quarter of all listings were within that price range.

Migration between major brokerages in 2023

The first quarter of 2023 shows some serious agent fluctuation at many of the country’s biggest brokerages.

Most adults support housing densification in their neighborhood

These new homes are envisioned as “missing middle housing,” such as medium and large apartment buildings.

Case-Shiller: Home-price declines ‘may have come to an end’; Boston sees 1.3% gain

A second consecutive month of increases in the S&P CoreLogic Case-Shiller U.S. National Home Price Index could indicate a reversal of the negative trend that began last year. 

PulteGroup appoints Kevin Henry chief people officer 

The incoming executive has held similar roles at BlueLinx Corp. and Extended Stay America. 

NAR: Limited supply keeps pending-home sales flat in April 

Despite solid demand, a dearth of homes for sale kept transaction numbers muted in the association’s most recent report on pending sales. 

New-home sales rise for fifth month in a row 

A shortage of existing inventory continues to drive buyers to new construction. 

NAR: Existing-home sales and days on market slide in April 

Multiple-offer situations have returned with the spring buying season while distressed and forced sales are “virtually nonexistent,” the National Association of REALTORS® said.

PulteGroup hires COO 

The hire follows the December 2022 firing of the homebuilder’s senior vice president for field operations, who had been tapped to become COO on Jan. 1. 

Single-family starts rise in April 

Single-family permits also posted a gain, indicating even more new homes are headed to today’s supply-constrained housing market. 

Builder confidence rebounds in May on tight existing inventory 

Homebuilder optimism was buoyed by continued shortages of new housing inventory, the National Association of Home Builders reported. 

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