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NAR's MLS Policy Changes Set for Aug 17th, 2024

NAR Practice Changes: Reviewed & Adopted Under practice changes that will take effect Aug. 17, real estate professionals will no longer be able to communicate offers of compensation in the MLS. However, offers of compensation will continue to be an option consumers can pursue off-MLS through negotiation and consultation with their real estate professionals. Per the requirements stipulated in the proposed Settlement Agreement, NAR has reviewe

Demand for Housing Continues to Rise, Even Without Population Growth

Residential REITs own more than 1.3 million apartment units and more than 200,000 single family rental houses, as well as manufactured housing, RV parks, and marinas.The ongoing housing crunch has helped REITs maintain strong operating performance through the past few years. As more adults choose to live alone, demand for housing continues to rise even without population growth. The latest earnings report shows residential REIT FFO was down 2.3%

US Household Wealth Hit Another Record in First Quarter, Fed Data Shows

U.S. household wealth rose to a record of more than $160 trillion in the first three months of 2024 thanks to the stock market's record run and gains in real estate, Federal Reserve data showed on Friday.Household net worth rose 3.2%, or by $5.1 trillion, with the appreciation of equity holdings accounting for the lion's share of the gain at $3.8 trillion, the Fed said in its quarterly snapshot of the nation's private and public sector finances.T

Mortgage Rates Seesaw Below 7% Once Again

Freddie Mac says rates could decline modestly throughout the remainder of the year.Borrowing costs are on the decline again, with mortgage rates falling slightly this week following last month’s surge, which was blamed for cooling the housing market. The 30-year fixed-rate mortgage averaged 6.99%, and further drops—although minor—could be on the way, Freddie Mac reports.“Mortgage rates retreated this week given incoming data showing

Is the Future of Construction Management Extended Reality?

You have heard of VR and maybe even AR, but have you heard about XR? XR stands for extended reality and is an umbrella term for virtual, augmented, and mixed reality technologies. It is also the term the architecture and engineering industries use for the immersive 3D imaging being deployed on construction sites worldwide.One significant difference between XR and VR/AR is that XR doesn’t require a headset. Many extended reality applications sim

The Magic of 360° Panoramic Virtual Tours

Imagine being whisked away to a breathtaking location, exploring its nooks and crannies at your own pace, all from the comfort of your couch. This isn’t some fantastical dream; it’s the power of 360° panoramic virtual tours. These immersive experiences are revolutionizing the way we explore the world, offering a captivating blend of reality and virtuality. A Portal to New Destinations Unlike traditional photos or videos, 360° virtual

Top 10 Most Affordable Beach Towns in 2024

Owning a waterfront property is a dream for many Americans. Here’s where your clients can snag a beach house in the U.S. for under $450,000.Most Americans say they dream of owning a vacation home, according to a new realtor.com® survey, and many hope it’s near a beach. But beachside property often comes with a hefty price tag.Realtor.com® found pockets across the country offering bargains on the beach in its list of America’s 10 most

A Big Mistake Home Buyers are Making with their Mortgages

They could save “hundreds of dollars a month” by doing this one simple task, a housing expert says.As mortgage rates once again move above 7% this week, more home buyers may be desperate for savings to better afford homeownership. But housing experts say a common mistake could be costing them thousands of dollars in potential savings: failing to shop around for their mortgages.Slightly more than half—54%—of recent buyers who recently took

Home Prices Reach New High in March, Case-Shiller Says

‘We’ve witnessed records repeatedly break in both stock and housing markets over the past year,’ Brian D. Luke at S&P Dow Jones Indices says The numbers: Home prices in the 20 biggest U.S. metros hit another all-time high, as the housing market remains hampered by a low number of properties for sale.The S&P CoreLogic Case-Shiller 20-city house price index rose 0.3% in March compared to the previous month. Home prices in th

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