Latest National Association of Realtors News

This week: Consumer confidence, Cintas earnings, pending home sales

Mar. 25, 2024 03:12 AM EDT

A look at some of the key business events and economic indicators upcoming this week. CONSUMERS' MOOD The Conference Board on Tuesday releases its consumer confidence index for March. In February, American consumers were feeling less confident as...

Compass agrees to pay $57.5 million, make policy changes to settle real estate commission lawsuits

Mar. 22, 2024 15:04 PM EDT

Real estate brokerage company Compass Inc. will pay $57.5 million as part of a proposed settlement to resolve lawsuits over real estate commissions, the company said in a regulatory filing Friday. The New York-based company also agreed to change its business practices to ensure...

February home sales hit strongest pace in a year as mortgage rates ease and more houses hit market

Mar. 21, 2024 12:22 PM EDT

LOS ANGELES (AP) — Sales of previously occupied U.S. homes rose in February from the previous month to the strongest pace in a year with homebuyers encouraged by a modest pullback in mortgage rates and more properties on the market. Existing home sales climbed 9.5% last month from...

Rules that helped set real estate agent commissions are changing. Here's what you need to know

Mar. 19, 2024 00:07 AM EDT

The cost of hiring a real estate agent to buy or sell a home may soon change, along with decades-old rules that have helped determine broker commissions. The policy changes could help spur price competition for agents' services and lower the cost for sellers who now typically cover...

This Week: Housing starts, Fed policy update and existing US home sales

Mar. 18, 2024 03:12 AM EDT

A look at some of the key business events and economic indicators upcoming this week TRACKING HOME CONSTRUCTION New government data on residential construction should provide insight into the state of the new-home market. The Commerce Department is...

Real estate lawsuit settlement upends decadeslong policies that helped set agent commissions

Mar. 15, 2024 18:03 PM EDT

A powerful real estate trade group has agreed to do away with policies that for decades helped set agent commissions, moving to resolve lawsuits that claim the rules have forced people to pay artificially inflated costs to sell their homes. Under the terms of the agreement announced...

Home sales rose in January as easing mortgage rates, more homes for sale enticed homebuyers

Feb. 22, 2024 16:53 PM EST

LOS ANGELES (AP) — Sales of previously occupied U.S. homes rose in January as homebuyers were encouraged by easing mortgage rates and a modest pickup in properties on the market. Existing home sales rose 3.1% last month from December to a seasonally adjusted annual rate of 4...

2023 was slowest year for US home sales in nearly 30 years as high mortgage rates frustrated buyers

Jan. 19, 2024 17:28 PM EST

LOS ANGELES (AP) — Sales of previously occupied U.S. homes sank in 2023 to a nearly 30-year low, as sharply higher mortgage rates, rising prices and a persistently low level of homes on the market combined to push homeownership out of reach for many Americans. The National...

This Week: Retail sales, housing starts, home sales

Jan. 16, 2024 03:02 AM EST

A look at some of the key business events and economic indicators upcoming this week RETAILER CHECKUP The Commerce Department delivers its December snapshot of U.S. retail sales Wednesday. Economists expect that holiday spending helped boost purchases at...

National Association of Realtors grapples with more leadership turmoil as president resigns

Jan. 08, 2024 17:10 PM EST

LOS ANGELES (AP) — The National Association of Realtors is grappling with more turmoil in its top leadership ranks just over two months after the trade group's CEO stepped down well before his planned retirement. The Chicago-based organization said Monday that NAR president Tracy...