National News

New-home sales jump in July 

July’s seasonally adjusted annual rate of 739,000 represented a 10.6% jump from June’s upwardly revised rate of 668,000. 

Existing-home sales end 4 months of declines in July 

The pace of home sales increased 1.3% from June after months of decreases, the National Association of REALTORS® said.      

Which Phoenix suburb is best for single-family home renters?

A new study ranks communities in the Valley for population density, cost of living, average commute times and more. 

NAR elevates Nykia Wright from interim to permanent CEO

Wright had served as interim CEO since November.

Apartment construction surges nationwide and in Phoenix

The Phoenix Valley ranked No. 4 among major metro areas nationwide, with more than 20,000 apartments expected to be completed in 2024. 

Michigan agents sue NAR, claim membership requirement to access MLS violates federal law

The lawsuit criticizes NAR’s new rules in the wake of its legal settlement.

Average mortgage rate drops to lowest level in more than a year

The average 30-year fixed mortgage rate dropped more than a quarter point since last week.

What you need to know when NAR’s new rules start Aug. 17

NAR’s commissions lawsuit settlement includes some nuances important to know for buyer’s agents, seller’s agents and clients. 

Pending home sales regain upward momentum in June 

The National Association of REALTORS® said its Pending Home Sales Index rose 4.8% month over month. 

Housing data still leans in favor of sellers, REALTORS® Confidence Index shows

Just 13% of respondents expect an increase in buyer traffic in the next three months.

Guaranteed Rate rebrands itself as Rate

Guaranteed Rate has rebranded itself simply as Rate and unveiled a new logo, the mortgage company announced Tuesday.

U.S. housing deficit grows to about 4.5 million homes

In Phoenix, the 2022 shortage was nearly 94,000 homes, an 8% increase from 2021.

Guaranteed Rate raises more than $1 million for military nonprofits

The money raised will go to nonprofit organizations that support the U.S. military community.

David Weekley CEO to retire Oct. 1 

John Johnson will be replaced by the former president and CEO of telecom-infrastructure provider Crown Castle Inc. 

Case-Shiller: Home-price index hits all-time high in March; Phoenix sees 4.9% gain 

The S&P CoreLogic Case-Shiller U.S. National Home Price Index has hit a new record for six of the last 12 months, as demand remains strong in the face of tight inventory.

VA to temporarily lift ban on buyer agent commissions

VA Deputy Director of Policy Michelle Corrdion announced that the department would temporarily lift its ban.

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