All four U.S. regions saw month-over-month transaction losses, NAR’s chief economist said. High mortgage rates haven’t reduced demand, thanks to more cash deals.
Realtor.com: The number of newly listed homes rose 37.5% month-over-month. Florida has three of the five markets in the U.S. with the highest share of price cuts.
Homes are taking longer to sell largely because housing costs are so expensive and there’s a limited supply, Redfin said. It’s the slowest pace in 5 years.
Some buyers are looking for better deals to counter higher mortgage rates. Seller concessions cover certain costs associated with a home purchase.
Real estate pros can stand out by specializing in a niche and using the 5-5-5 strategy: calls, messages and meetings to build leads and client trust.
U.S. home prices rose 4.2% year-over-year, but growth is slowing due to high mortgage rates, according to the FHFA House Price Index.
Some of the updated forms add language for NAR settlement compliance to create consistent language across all forms.
New home sales rose 3.6% in December, ending 2024 higher amid limited inventory, the NAHB said. The median price increased 2.1% overall.
This ruling provides legal clarity for members using floor plans as marketing tools without fear of violating copyright law, NAR said.
Real estate agents should focus on consistent follow-up with current leads, offering value and persistence, rather than chasing new ones to boost conversions.
