National News

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.

Rising home prices wipe out affordability gains brought on by low interest rates, higher income
Rising home prices wipe out affordability gains brought on by low interest rates, higher income

Higher income, backed up by lower mortgage rates, has expanded the reach of the average homebuyer, but an increased demand for homes has concurrently driven up prices, negating two of the three main factors in First American Financial Corp.’s Real House Price Index.  

NAR: Existing-home sales slide 2.7% in April on short supply
NAR: Existing-home sales slide 2.7% in April on short supply

Existing-home sales slid for the third month in a row in April, declining 2.7% from March to a seasonally adjusted annual rate of 5.85 million, according to the National Association of Realtors.

RE/MAX: Recordbreaking median home sales price climbs again in April
RE/MAX: Recordbreaking median home sales price climbs again in April

The limited inventory that has plagued the housing market continued, although at an abated pace.

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