Latest News From NAR

Pending home sales in July dropped nearly 20% year over year as the housing market continues to slow. But a turnaround is in sight, says Lawrence Yun.

In another sign of a reversal of fortune for homebuilders, new-home sales in July tumbled to their slowest pace in six years.

Housing affordability hit a 33-year low in June, according to NAR data. But an increase in inventory and stabilizing mortgage rates may stem the tide.

As inflation appears to have peaked, borrowing costs are starting to stabilize.

U.S. companies are looking to bring operations home from overseas, which will open new opportunities for commercial brokers, speakers at NAR’s C5 Summit say.

While prices continue to rise, existing-home sales fell in July for the sixth consecutive month and are down dramatically from a year ago, according to NAR’s latest housing report.