National News

Housing market simmers down, but pending sales are still up
Housing market simmers down, but pending sales are still up

Although pending sales are up 29% from last year, they are starting to slow down, dropping 9.7% from their peak four weeks ago.

Could zoning changes help boost supply and balance the market?
Could zoning changes help boost supply and balance the market?

With high costs slowing construction and potentially lowering homeownership for many, easing zoning rules may be the most effective way to increase the supply of new housing. 

High-end home sales, prices jump as market flourishes
High-end home sales, prices jump as market flourishes

High-end home sales surged in the three months ended April 30 as prices also rose and listings increased.

RE/MAX joins The LGBTQ+ Real Estate Alliance
RE/MAX joins The LGBTQ+ Real Estate Alliance

The new corporate sponsorship makes certain training, resources and networking opportunities available to RE/MAX agents.

Builders report historic, broad-based levels of materials shortages
Builders report historic, broad-based levels of materials shortages

Special questions added to the National Association of Home Builders’ monthly builder survey found 90% or more of respondents had experienced shortages of plywood, oriented strand board, framing lumber and appliances, with most other materials also hard to come by.

COVID and a booming housing market have fueled a record number of Realtors
COVID and a booming housing market have fueled a record number of Realtors

The COVID pandemic has caused a shakeup in where, and how, many people work. That has helped propel a thriving housing market.

Zombie foreclosures up 21% across the country
Zombie foreclosures up 21% across the country

Of the 99 million residential properties in the U.S., approximately 1.4 million (or 1.4%) are vacant this quarter, with “zombie” home rates increasing both quarterly (21%) and annually (5.6%).

Asian-American homeownership grows but shows disparities between different ethnic groups
Asian-American homeownership grows but shows disparities between different ethnic groups

The number of Asian-headed households grew 83% in the past two decades, but economic inequality and inequity between different Asian ethnic regions is still an issue.

Mortgage applications drop 4% on higher rates in latest MBA survey 
Mortgage applications drop 4% on higher rates in latest MBA survey 

“Demand is robust throughout the country, but homebuyers continue to be held back by the lack of homes for sale and rapidly increasing home prices.” — MBA Associate Vice President of Economic and Industry Forecasting Joel Kan 

COVID savings fuels millennial down payments
COVID savings fuels millennial down payments

First-time homebuyers found their long-term plans changed due to COVID.

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