Kevin Sears opens up about NAR, the DOJ and a hectic year of travel
In his 6 months as president, Sears has racked up time in Washington with the DOJ, focused on the trade organization's future and traveled — a lot. He shared his takeaways with Inman ahead of ICLV
by Taylor Anderson Jul 9
Where are the buyers? Introducing Intel's Client Pipeline Tracker
Buyer pipelines have been shrinking, agents told Inman in the latest Intel Index poll. A new metric unveiled today by Intel sheds light on the trend and aims to answer when it might turn around
by Daniel Houston Jun 3
Inside the lock-in effect: Cheap mortgages weigh on US consumers
Homeowners with at least a 5% mortgage rate are 3 times as likely to enter the market soon as those with a sub-3.5% rate, according to results from Inman-Dig Insights' latest consumer poll
by Daniel Houston May 20
Texas, Florida are affordability havens for homebuyers: Zillow
Rising inventory and slowing home price growth have made Austin, San Antonio, Tampa, Orlando and Jacksonville some of the best markets for buyers, according to Zillow's Market Heat Index
by Marian McPherson May 15
Is NAR a net-positive? It depends if you ask an agent or a broker: Intel
An increasing uncertainty among real estate agents in March runs in opposition to brokers, who were more likely to tell Intel they still view the National Association of Realtors positively
by Taylor Anderson Apr 29
'Buyers are losing faith in the American Dream:' Redfin CEO
Redfin CEO Glenn Kelman said rising rates and home prices are crushing consumer sentiment. However, rising inventory and a year-end interest rate cut will be key to restoring it
by Marian McPherson Apr 26
Homebuyers emboldened in wake of $418M NAR settlement: Intel poll
Clients believe their agents bring value, and they're willing to pay for it, according to a survey of 3,000 employed US residents conducted by Intel and Dig Insights. But many consumers embrace the idea of negotiating a lower commission — and perhaps exploring new models
by Daniel Houston Apr 17
Zillow launches 'Home Just Got Real' ad campaign
The new advertising campaign highlights the struggles homebuyers face while trying to find the perfect home. The ads will run throughout the 2nd and 3rd quarters of the year
by Marian McPherson Apr 16
Agents feel the pain as BoomTown outage extends into another week
Since April 10, brokerage websites across the country have been dark as BoomTown scrambles to resolve service disruptions. The outage has already impacted the bottom line, agents told Inman
by Taylor Anderson Apr 15
Disappointing economic news hampers early spring market
Economic headwinds and a holiday weekend caused new listings and home tour requests to fall at the end of March, according to Redfin's report. The portal is still bullish on future spring activity
by Marian McPherson Apr 4
New homeowners plan to spend 40% of income on repairs: Study
Thumbtack's survey revealed the depths of new homeowner anxiety regarding home repairs. The typical buyer surveyed spent $30K on repairs during their first year of homeownership
by Marian McPherson Apr 3
Barbara Corcoran on the $418M NAR settlement: It's 'not a big deal'
Corcoran told Yahoo! Finance Wednesday she doesn't believe the effects of the settlement will be as earth-shattering as many make them out to be, but that 'the confusion it's causing is amazing'
by Lillian Dickerson Mar 29
Nepo Babies grow up as data points to new phenomenon: Nepo Buyers
36% of Gen Zers and millennials who plan to buy a home in the near future intend to use a cash gift from family to contribute to a down payment, according to data from Redfin released Wednesday
by Lillian Dickerson Mar 27
2024 Spring Outlook: Another tight market, this time with extra anxiety
As the first day of spring arrives, 3 economists shared with Inman why headwinds will continue to plague the housing market in 2024, long after a recovery was expected to revive US home sales
by Marian McPherson Mar 19
Biden proposes $5K tax credit for first-time buyers in SOTU address
The set of new housing initiatives also includes a 1-year tax credit of up to $10K to households that sell their starter home. NAR applauded the president's commitment to aiding the industry
Appeals court rules Chicago transfer tax hike can move ahead
Voters are set to decide on March 19 whether they want to quadruple the tax buyers pay on real estate purchases above $1.5M. Realtors say it amounts to a secret tax and rent hike
by Taylor Anderson Mar 6
RE/MAX CEO Nick Bailey exits as company revenue falls again in Q4
RE/MAX announced it was making changes to its executive team after revenue fell for a sixth consecutive quarter to end 2023. Amy Lessinger will succeed Bailey as president
by Taylor Anderson Feb 22
Utah homeseller files commission lawsuit against NAR, 13 others
The complaint — one of nearly two dozen targeting real estate's commission-sharing structure — alleges 'most' buyer agents will steer clients away from listings that offer lower commission
by Taylor Anderson Feb 12
A softer rental market isn't enough to help hopeful homebuyers
Realtor.com's survey of more than 4K landlords and renters found that, although landlords are easing rental increases, it's not enough to help renters improve their financial outlooks
by Marian McPherson Feb 8
Chase Home Lending increases homebuyer grant to $7,500
Chase has increased its grant to $7,500 in 8,500 of the 15,000 communities in within its homebuyer grant program. The bank also removed the income requirement for its 3% down DreaMaker mortgage
by Marian McPherson Jan 31
Tracking the housing recovery? These 12 dates offer crucial clues
Intel is highlighting the most important data releases and events slated for each month of 2024 in an effort to help industry observers follow the arc of residential real estate's rebound this year
by Chris LeBarton Jan 24
NAR president sidesteps palace intrigue in 1st address to members
Newly installed NAR President Kevin Sears will remain in position for nearly 2 years after replacing Tracy Kasper on Monday. In a video to members he focused on legal challenges and core business
by Taylor Anderson Jan 12
Declining mortgage rates bring new-year market thaw: Redfin
Mortgage purchase applications and new listings have improved in recent weeks, thanks to a 25% decline in mortgage rates from October's peak of nearly 8%
by Marian McPherson Jan 11
65% of millennials would still buy a home if interest rates were 10%
Clever Real Estate's latest survey revealed the sacrifices millennials are willing to make to buy, including taking on higher interest rates, buying major fixer-uppers and working multiple jobs
by Marian McPherson Jan 10
Realtors fear damage to NAR brand beyond repair following Kasper exit
Members already reeling from a series of accusations and leadership changes told Inman Tracy Kasper's resignation as president after less than 5 months doesn't bode well for NAR's reputation
by Taylor Anderson Jan 10
House Hacking spiked amid COVID. In 2024, it will be a household name
Last month, Fannie Mae lowered its down payment minimum for some properties, clearing a path for investors like Alejandro and Jessicas Cuevas, who bought in Chicago with hacking in mind
by Taylor Anderson Dec 26
Rates keep falling, and buyers and sellers are springing into action
Listings and pending sales hit the highest level in roughly a year, according to a new report from Redfin. Still, a record number of contracts were canceled
by Taylor Anderson Dec 15
80% of first-time homeowners say they'll need a gift to buy again: Poll
Faced with rising prices and rates, buyers are increasingly counting on personal loans and gifts to close deals, according to a survey of 3,000 potential buyers conducted by Dig Insights and Inman
by Chris LeBarton Dec 5
Mortgage rates overtake inventory as biggest worry for agents: Triple-I
After exceeding 8% in October, rising mortgage rates overtook 'lack of housing inventory' as the top concern for real estate agents, according to the latest monthly Inman Intel Index results.
by Chris LeBarton Nov 21
New commission lawsuit targets REBNY and 26 companies in NYC
Homeseller Monty March filed suit in the Southern District of New York Wednesday, alleging REBNY rules in Manhattan kept commissions high and violated state and federal antitrust laws
by Taylor Anderson Nov 10
New startup Foyer helps first-time homebuyers with savings program
The '401(k) for homeownership' helps first-time buyers achieve their savings goals with 4.51% APY high-yield savings accounts, as well as educational tools and matching with agents and lenders
by Lillian Dickerson Oct 31
NAR to shed 1M members if shared commission banned, analysts say
A report released Oct. 4 by the investment banking firm Keefe, Bruyette & Woods forecasts commissions to decline by at least 30% as a result of ongoing threats to the real estate industry
by Taylor Anderson Oct 16
Why US consumers are souring — and what that means for housing
Maegan Sherlock, senior research analyst for John Burns, spoke with Intel about the results of the firm's latest household sentiment survey: 'I was hoping to see a new magic mortgage rate'
by Daniel Houston Oct 11
Lack of family, friend support keeps LGBTQ+ buyers behind: Redfin
Redfin survey reveals LGBTQ+ consumers disproportionately struggle with lack of family support during homebuying due to heteronormative expectations for marriage and household formation
by Marian McPherson Oct 4
Intel unpacks the startling price of entry into the US housing market
Economists, homeowners and agents broke down the alarming but true cost of buying property in 2023, telling Intel that rising rates and home prices are only the start for wallet-stretched buyers
by Marian McPherson Oct 4
Homes are no longer affordable for the average American, report says
Home prices could be reaching a breaking point, new report says, as housing affordability drops to lowest level since 2007. The median price of homes and condos is a record $351,250
by Taylor Anderson Sep 29
LGBTQ+ Real Estate Alliance touts 'Stop Hate in Real Estate' initiative
The LGBTQ+ Real Estate Alliance is partnering with the California Association of Realtors, AREAA and NAHREP to combat real estate discrimination against homebuyers from diverse communities
by Marian McPherson Sep 27
Home values fell in 21 of the 50 largest US metros in August: Zillow
Home values are now 11.4% lower in Austin, Texas, than they were in Aug. 2022, Zillow said. Nationally, prices were up slightly from July to August, and there was a small inventory uptick
by Taylor Anderson Sep 13
Investor activity keeps slowing down from pandemic-era highs
Phoenix, Las Vegas and other Sunbelt metro areas saw the biggest slowdowns in investor activity as high rates and low demand cooled activity nationwide, according to reports
by Taylor Anderson Aug 31
Pending home sales climb to 2023 high following months of declines
Pending home sales rose 0.7% from June to July, reversing 7 months of declines. However, rising rates and home prices are poised to stifle sales growth into the fall, Redfin said on Friday
by Marian McPherson Aug 25
Real estate investors believe the worst may be in the rear view
The outlook is mixed, but 'it does look like prices may have bottomed out and are on their way back up,' said CJ Patrick Company CEO Rick Sharga
by Taylor Anderson Aug 15
When handling buyer objections, preparation is key, brokers say
Buyers with doubts need to know they're being heard. A well-oiled process for responding to their objections can help, Bianca D'Alessio and Aaron West said Thursday at Inman Connect Las Vegas
by Daniel Houston Aug 11
The commission suits are headed to trial. What happens after that?
At Inman CEO Connect, Russ Cofano, James Dwiggins and Greg Robertson debated the changes that agents and brokers may see as a result of homeseller lawsuits and government interference
4 ways to improve real estate as bombshell commission suits sizzle
At Inman Connect Las Vegas, real estate broker and attorney Kendall Bonner urged the industry to be proactive instead of waiting to be legally 'bullied' into change