Proximity to Family and Friends, Affordability Drive Relocation Trends in 2024, Finds New NAR Report

Realtors® reported that their recent clients chose to move to a specific area primarily to be closer to family and friends (30%) and to get more home for the money (21%), according to a new report from the National Association of Realtors®. While available U.S. Census Bureau data provides information surrounding where and in what volumes Americans are moving, NAR's 2024 Migration Trends report analyzes...Read More

How Agents Can Help Home Buyers Save on Utility Bills

“Finding and saving money for your clients elevates you from a real estate agent to a real estate professional,” Eileen Oldroyd, broker-owner of Oldroyd Realty in Mission Viejo, Calif., said Saturday at a sustainability session during NAR NXT, The REALTOR® Experience, in Boston. And agents are well-positioned to help address a key pocketbook issue for consumers: utility bills There’s a method to Oldroyd’s...Read More

India 3rd favourite spot for global real estate investments

India is quickly becoming a favourite spot for foreign investors who want to put their money into land and development projects. In fact, it’s ranked third globally for such investments in 2024, according to a report by Colliers. Most of this foreign money is going into India’s industrial and warehousing sectors—about 70% of all foreign real estates...Read More

‘Rental recession’: London office vacancies hit 30-year high

London’s office market is in a “rental recession,” according to financial services company Jeffries, who reported that vacancies in the capital’s business hub had hit a 30-year high. Jeffries analysts estimated there had been a 20% contraction in London office usage as working from home and hybrid working, as well as a move toward green offices, continue to be a priority......Read more

Home sales fall again in July, as supply drops to near quarter-century low

Sales of previously owned homes dropped 2.2% in July from June to a seasonally adjusted, annualized rate of 4.07 million units, according to the National Association of Realtors. Sales were 16.6% lower compared with July of last year. Homes sold at the slowest July pace since 2010. This count is for closings, so contracts were likely signed in May and June, when mortgage rates went from around 6.5% to.....Read More

Mortgage demand drops as interest rates remain stubbornly high

Mortgage rates didn’t move at all last week, and are still sitting near a recent high. With home prices continuing to rise, that pushed more potential homebuyers to the sidelines.Total mortgage application volume dropped 1.8% last week compared with the previous week, according to the Mortgage Bankers Association’s seasonally.......Read More

Mortgage demand drops as bank failures hit jumbo loan rates

Mortgage demand from homebuyers has been erratic to say the least during the usually busy spring housing market. That is likely because today’s buyers are hypersensitive to mortgage rates, which have been fluctuating widely week to week but which are still considerably higher than they were a year ago. Now, several bank failures are starting to make it more difficult even for wealthier buyers......Read More

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