National News

Call it the coronavirus effect: Young adults are moving back home

Roughly 2.7 million U.S. adults moved in with a parent or grandparent in March and April as the coronavirus pandemic spread, potentially costing landlords hundreds of millions of dollars in monthly rent payments and casting doubt on the future of young workers in particular.

Lenders predict ‘near term strength’ for the housing market

May applications for new home purchases were up 26% from April, pointing to a recovery that’s already underway.

Survey finds COVID-19 has disproportionate impact on minority housing options

A higher percentage of black and Hispanic individuals say their housing has been impacted by COVID-19, according to a new survey

Permits, builder sentiment indicate turning point for the market

In a sign of continued forward momentum, single-family permits posted an 11.9% gain in May, while builder sentiment jumped 21 points in June.

Pride Month kicks off with landmark decision and new video series

It’s time to celebrate Pride Month and the recent U.S. Supreme Court decision for workplace equality. What better way than to meet some members of the LGBTQ community at RE/MAX?

Single-family rent prices post lowest growth rate in 9 years

The latest CoreLogic report reveals the first measurable impact to the single-family rent market, pushing price growth to its lowest rate since the initial recovery of the Great Recession.

Three-quarters of homebuyers and renters change plans due to COVID-19

The survey of 1,500 adults also shows that the inability to tour properties in-person because of COVID-19, was the most common reason (42%) respondents chose not to move.

New survey estimates post-COVID housing demand to be 2.1 million

A new national consumer study reveals radical changes in how Americans want to live in their homes, post-pandemic.

Here’s what the Fed decision means for the housing market

The fact that interest rates will remain at or near 3% for the next three years could boost the housing industry.

Home equity is keeping delinquencies at bay . . . for now

Home price and equity growth in the months leading up to the pandemic have helped to delay the impact of the recession on the mortgage market, although the effects are expected to continue to unfold over the next year.

Payroll up 2.5 million; job market turnaround begins

The latest jobs report shows an unexpected upswing in May, and industry experts predict housing will lead the way to economic recovery.

Purchase applications up 18% year over year

A new report from the Mortgage Bankers Association points to pent-up demand.

Home prices are up, but that might not last

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.

Pending home sales took a deep dive in April, but NAR upgrades its forecast

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.

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