National News

Apartment construction surges nationwide

Boston ranked No. 19 among major metro areas, with more than 8,000 apartments expected to be completed in 2024. 

Michigan agents sue NAR, claim membership requirement to access MLS violates federal law

The lawsuit criticizes NAR’s new rules in the wake of its legal settlement.

What you need to know when NAR’s new rules start Aug. 17

There are some nuances in NAR’s lawsuit settlement that are important to know for buyer’s agents, seller’s agents or clients

Average mortgage rate drops to lowest level in more than a year

The average 30-year fixed mortgage rate dropped more than a quarter point since last week.

Pending home sales regain upward momentum in June 

The National Association of REALTORS® said its Pending Home Sales Index rose 4.8% month over month. 

Housing data still leans in favor of sellers, REALTORS® Confidence Index shows

Just 13% of respondents expect an increase in buyer traffic in the next three months.

Guaranteed Rate rebrands itself as Rate

The new name conveys a “concise, modern identity,” the company said.

U.S. housing deficit grows to about 4.5 million homes

In Boston, the 2022 shortage was nearly 155,000 homes, a 2.1% increase from 2021.

Guaranteed Rate raises more than $1 million for military nonprofits

The money raised will go to nonprofit organizations that support the U.S. military community.

Case-Shiller: Home-price index hits all-time high in March; Boston sees 8.7% gain 

The S&P CoreLogic Case-Shiller U.S. National Home Price Index has hit a new record for six of the last 12 months, as demand remains strong in the face of tight inventory.

VA to temporarily lift ban on buyer agent commissions

VA Deputy Director of Policy Michelle Corrdion announced that the department would temporarily lift its ban.

New-home sales decline in April 

At the same time, the median price of a new home sold in April declined as well. 

Donald R. Horton, founder of nation’s largest homebuilder, dies at 74

Horton served as chairman of D.R. Horton Inc. since it was formed in July 1991.

Housing starts rebound in April after March slump 

New-home construction jumped 5.7% month over month after a soft March, according to the U.S. Census Bureau and the U.S. Department of Housing and Urban Development. 

Hotels overtake offices in residential conversions

According to a new report from RentCafe, hotels have overtaken offices as the most likely spaces to be converted into new apartments.

Anywhere Real Estate, Keller Williams and RE/MAX commissions settlements receive final court approval

Other settlements are still awaiting final approval, including the $418 million settlement with NAR.

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