The only other time the market saw such change was at the beginning of the pandemic. 

Month over month in September, existing-home sales slid 1.5% to 4.71 million, which is 23.8% lower than the year before. 

New home construction missed analyst estimates in September, falling 8.1% month over month to an annual rate 1,439,000 homes, according to government statistics. 

Mortgage rates rose to 6.9%, the highest they’ve been since April 2002.

First-time homebuyers now make up 45% of current homebuyers, according to Zillow. The numbers represent a rebound from the lows of the pandemic.

The new franchise will be the brokerage’s 16th in Europe as it pursues other expansion opportunities around the world. 

The former chairman and CEO of the homebuilder died of Parkinson’s disease at 81. 

RE/MAX Holdings, Inc. has named Grady Ligon as its new chief information officer. Ligon brings 20-plus years of experience to the position, as well as his proven track record for integrating technology to enhance business growth.

Looking ahead, CoreLogic expects the year-over-year pace of home-price appreciation to slow to 3.5% by August 2023. 

Market volatility is causing more and more homebuyers to delay or cancel plans to make a purchase.

The National Association of Realtors® has named Revive as the winner of the 2022 Innovation, Opportunity & Investment (iOi) Summit “Pitch Battle.”

While 23% of residential Realtors claim they have feared for their safety while on the job, 98% reported that they have never been the victim of a crime while at work.

NAR and the National Forest Foundation (NFF) plan to plant 1.575 million new trees by the end of 2025, thanks to a $1.575 million donation from NAR. That many trees will reduce 750,000 metric tons of carbon in the atmosphere — the equivalent of 145,931 homes’ yearly electricity use.

The mortgage lending and digital finance company Guaranteed Rate has launched an extensive Language Access Program to expand services to Spanish-speaking clients. The program uses language and cultural information to create an inclusive and informative experience for all clients, regardless of their English proficiency.

Two economists expressed concerns about the real estate industry in the wake of the Fed’s decision to raise interest rates by three-quarters of a percent. 

The NAR’s Community Aid and Real Estate (CARE) Report shows that REALTOR® associations donated a median of $12,070 this past year, a 20% increase over 2020.