Today’s Top News: The last week of October is the best time to buy in Boston

National News

In Boston, ‘normal’ is the new normal

CoreLogic reports home price acceleration continued in April, but — in a shift away from other industry predictions — expects the first decline in values to begin in 2021
Protests prompt response from real estate execs

Real estate leaders call for action on race and equity in response to nationwide protests.
Pandemic stressors cause buyers and sellers to value Realtors even more than before

A new survey finds that, while buyers and sellers are feeling better about conducting business in person, they’re also comfortable doing it virtually, provided they have the help of a real estate professional.
Boston homes named 14th most at-risk for storm surge in 2020

A new report from CoreLogic warns of increased hurricane risk this season, compounded by coronavirus-related weaknesses
Pending home sales in the Northeast dive at around twice the national rate

NAR’s chief economist says April’s decline could be the lowest point in the market, and that he expects it to bounce back soon.
Mortgage applications are up, consumer confidence stabilizes

Encouraging new data shows that buyers are coming back and consumers are feeling more confident, though concerns about job stability and possible inflation remain.
Despite pandemic, new homes are selling

Data shows sales of new construction single-family homes rose slightly in April while price growth continues, albeit slowly.
Hispanic homeownership reached historic highs before COVID-19. What now?

Amongst the current pandemic, the real estate market has been at an all-time low, but how are individual communities affected?
Boston named hottest city for bidding wars

Good news for sellers: Homes on the market under $1 million are receiving multiple offers in desirable cities.

Existing-home sales drop 17.8% in April, but first-timers are coming back

Coronavirus lockdowns disrupted sales in April, but the data shows an increase in new homebuyers.
Lenders expect recovery to pick up steam by end of 2020

Economists with the Mortgage Bankers Association predict mortgage rates will remain low for the next couple of years, though there is at least one scenario under which they could rise more quickly.
Builder confidence rose nationally in May, but still down in the Northwest

Builders are feeling more confident this month, a sign that the new-home market may have already hit bottom.
Buyer demand remains strong despite pandemic, says new report

RE/MAX’s recently released National Housing Report points to resiliency of market amidst coronavirus and economic concerns.
The worst is over, says NAR Chief Economist Lawrence Yun

Speaking at NAR’s recent Residential Economic Issues and Trends forum, NAR’s Lawrence Yun said economic recovery is around the corner.
Top Agent Network files antitrust lawsuit against NAR

California-based broker platform Top Agent Network has sued NAR over the pocket listing rule that went into effect this month.
Despite industry objections, qualified mortgage patch still expected to expire

Though NAR has urged the Consumer Financial Protection Bureau to extend the rule, the agency’s director would only agree to take into account disruptions related to the COVID-19 pandemic in managing the transition.