National News

This Phoenix ZIP code boasts the most new rental construction

The Pheonix ZIP code of 85281 ranked among the top 10 in the country in terms of new apartment construction, according to RentCafe.

Buyers can now search by school on Zillow

Prospective buyers can access the search-by-school feature via the search bar on Zillow’s iOS mobile app.

Coldwell Banker Affiliates names Jason Waugh president 

Waugh most recently served as president and CEO of Berkshire Hathaway HomeServices Northwest Real Estate and Berkshire Hathaway HomeServices Real Estate Professionals.

MBA: Mortgage apps rise on increase in ARM activity 

A 15% rise in applications for adjustable-rate mortgages drove overall mortgage applications higher in the most recent weekly survey. 

Homebuyer pessimism hits all-time high

More than eight in 10 Americans think it’s a bad time to buy a home, according to a new survey from Fannie Mae.

Major real estate brands open option for agents to leave NAR

Agents from CENTURY 21, Coldwell Banker, ERA, Sotheby’s International Realty, Corcoran and Better Homes and Gardens Real Estate — and RE/MAX — will all have the option to leave NAR pending new settlements.

Opendoor and eXp Realty partner for ExpressOffer platform

eXp Realty partnered with real estate technology company Opendoor to integrate an application programming interface into its ExpressOffers platform.

Redfin to cut ties with NAR, citing recent sex harassment claims

Redfin said it will require many of its agents to leave NAR and the association has “forced an all-or-nothing choice on us,” and it would therefore “choose nothing.”

NAR: Pending-home sales fall 7.1% on high interest rates 

Regionally, pending sales were down across the board on both a monthly and an annual basis, the National Association of REALTORS® said. 

Phoenix housing market decreases in value

Despite ranking among the most valuable housing markets in the nation, the overall value of Phoenix real estate fell on an annual basis.

NAR: Existing-home price rises again as sales continue to slide 

Total housing inventory at the end of August was 1.11 million units, up 3.7% from July but down 14.6% on a year-over-year basis, the National Association of REALTORS® said. 

Phoenix agents recognized in third annual LGBTQ+ Real Estate Top Producers list

The LGBTQ+ Real Estate Alliance announced the rankings for its third annual LGBTQ+ Real Estate Top Producers list.

CoreLogic: Home-price growth picks up speed in July 

CoreLogic expects prices to continue to grow through next year, albeit at a more traditional pace than in the height of the pandemic. 

Luxury Presence launches Presence Copilot with Dawn McKenna

“I started building this app to give my team a competitive advantage,” McKenna said. But now, she is excited to share the app with the public.

NAR: Pending-home sales post second monthly increase in a row 

Pending transactions were in negative territory for most of this year, so the recent increases could bode well for future activity. 

Case-Shiller: Home-price index just 0.02% off 2022 peak; Phoenix sees 7.5% drop

A fifth consecutive month of increases in the S&P CoreLogic Case-Shiller U.S. National Home Price Index suggests the housing market recovery that began earlier this year is likely to continue. 

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