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Existing-Home Sales Receded 4.1% in October

WASHINGTON (November 21, 2023) – Existing-home sales dropped in October, according to the National Association of REALTORS®. Among the four major U.S. regions, sales slid in the Northeast, South and West but were unchanged in the Midwest. All four regions experienced year-over-year sales declines. Total existing-home sales1 – completed transactions that include single-family homes, townhomes, condominiums and […]

Congressional Black Caucus Issues Statement on 8th Circuit’s Section 2 Ruling

Today, Congressional Black Caucus Chairman Steven Horsford (NV-04) and members of the Congressional Black Caucus issued the following statement regarding the 8th U.S. Circuit Court of Appeals’ ruling on Section 2 of the Voting Rights Act: “Today, the 8th U.S. Circuit Court of Appeals ruled that there is no “private right of action” for Section 2 of the Voting […]

Statement from NAHB Chairman Alicia Huey on Biden’s Use of the Defense Production Act

Alicia Huey, chairman of the National Association of Home Builders (NAHB) and a custom home developer from Birmingham, Ala., today issued the following statement after President Biden invoked the Defense Production Act to boost production of electric heaters: “The purpose of the Defense Production Act is to expand the supply of materials and services to […]

National Association of Realtors® Installs 2024 Leadership

WASHINGTON (November 20, 2023) – Tracy Kasper was installed as 2024 president of the National Association of Realtors® during the 2023 NAR NXT, The Realtor® Experience(link is external) in Anaheim, Calif. With more than 30 years in real estate, Kasper, a Realtor® from Nampa, Idaho, is broker-owner of Berkshire Hathaway HomeServices Silverhawk Realty. She has served on NAR’s board […]

Single-Family Starts Flat in October

Single-family construction held steady in October as high mortgage rates depressed demand but more buyers turned to new homes because of a lack of existing inventory. Overall housing starts increased 1.9% in October to a seasonally adjusted annual rate of 1.37 million units, according to a report from the U.S. Department of Housing and Urban […]

NAR Presents Realtor® Mike McGrew With Distinguished Service Award

ANAHEIM, Calif. (November 16, 2023) – Mike McGrew, a Realtor® from Lawrence, Kansas, received the National Association of Realtors®’ 2023 Distinguished Service Award. NAR presents this honor annually to a maximum of two of its more than 1.5 million members. This year, two winners were recognized during the 2023 NAR NXT, The REALTOR® Experience(link is external) in […]

NAR Presents Realtor® Greg Herb With Distinguished Service Award

ANAHEIM, Calif. (November 16, 2023) – Greg Herb, a Realtor® from Gilbertsville, Pennsylvania, received the National Association of Realtors®’ 2023 Distinguished Service Award. NAR presents this honor annually to a maximum of two of its more than 1.5 million members. This year, two winners were recognized during the 2023 NAR NXT, The REALTOR® Experience(link is external) in […]

NAR Chief Economist Says Commercial Real Estate Will Revitalize, Calls on Federal Reserve to Consider Cutting Interest Rates

ANAHEIM, Calif. (November 16, 2023) – Commercial property rates are expected to stabilize – aside from office space – and commercial real estate will revitalize, according to NAR Chief Economist Lawrence Yun. Yun presented yesterday at the Commercial Economic Issues and Trends Forum at 2023 NAR NXT, The Realtor® Experience(link is external), in Anaheim, California, to […]

Experts Discuss Transformative Role of Artificial Intelligence in Real Estate

ANAHEIM, Calif. (November 16, 2023) – At this year’s NAR NXT, The Realtor® Experience(link is external), experts gathered to discuss the intersection of real estate and the latest technological advancements. The event featured two standout sessions that highlighted the evolving role of technology and artificial intelligence (AI) on the real estate landscape. On Wednesday, the Emerging […]

Multifamily Developer Confidence Weak in Third Quarter on Financing Concerns

Confidence in the market for new multifamily housing was in negative territory for the third quarter, according to results from the Multifamily Market Survey (MMS) released today by the National Association of Home Builders (NAHB). The MMS produces two separate indices. The Multifamily Production Index (MPI) had a reading of 38—well below the break-even point […]

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