All articles tagged with #nar
Existing home sales dropped 2% in August to a 3.98 million annualized pace, the slowest since mid-2025. This decline coincided with mortgage rates reaching their highest level in over a year. Despite the drop in volume, the median home price hit a record $429,100, while inventory reached a decade-high 4.9 months' supply.
The National Association of Realtors (NAR) has launched a new quarterly Commercial Real Estate Demand Index, which ranks 306 US metropolitan areas based on local economic drivers rather than traditional leasing metrics. The index identifies St. George, Utah, as the top market with a score of 128, driven by strong office employment growth and population gains. While major coastal cities like New York and Los Angeles lag behind, smaller Sun Belt and mid-sized markets are showing the most momentum, with South Carolina ranking as the strongest state overall.
U.S. pending home sales fell in June, signaling a tepid housing market as record-high prices and elevated mortgage rates around 6.5% dampened activity. The National Association of Realtors reported a 0.3% year-over-year decline and a 5.4% drop from May, with regional variations (NE and Midwest modest gains vs. declines in the South and West). The market remains depressed despite some affordability improvements, with the median existing-home price near a record of about $441,000.
May existing-home sales rose 3.2% month-over-month and year-over-year to a 4.17 million seasonally adjusted annual rate, with inventory at 1.55 million (4.5 months). The median price climbed 1.3% year over year to $429,300, affordability improved, mortgage rates averaged 6.44%, and gains occurred in the Northeast, Midwest, and South (West unchanged). First-time buyers reached 35% of buyers.
April pending-home-sales rose 1.4% month-over-month and 3.2% year-over-year, with gains in the Northeast, Midwest and West and a decline in the South. NAR Chief Economist Lawrence Yun says buyers are cautiously optimistic despite higher mortgage rates, but without a meaningful rise in supply, price growth could outpace wages and curb homeownership. The Pending Home Sales Index remains a leading indicator for closings, with notable local-year gains and the next release scheduled for June 17.
NAR reports April existing-home sales rose 0.2% month-over-month to a seasonally adjusted annual rate of 4.02 million, with inventory up 5.8% to 1.47 million (about 4.4 months’ supply). Sales were flat year-over-year, while the median price increased 0.9% to $417,700. The Housing Affordability Index stood at 110.6 and affordability improved across regions. Mortgage rates averaged 6.33% in April. Regional detail shows Midwest and South up, Northeast unchanged, and West down, with second-home purchases contributing to demand.
A National Association of Realtors analysis of Census data finds U.S. homeownership rates differ by occupation: management and business professionals lead at about 72% ownership in 2024, education and social services around 67%, and STEM/technical workers about 67% but dipping since 2014; service workers remain lowest at about 46%, with the national rate near 65%. Local variation is substantial: in 61% of the 368 metros, the occupation most likely to own a home in 2024 differs from 2014, and affordability constraints—medians around five times income—mean many earners are priced out of homeownership.
December existing-home sales rose 5.1% month-over-month to a 4.35 million seasonally adjusted annual rate, but were down 1.4% from December 2024; inventory fell to 1.18 million (3.3 months’ supply) while the median price rose 0.4% year-over-year to 405,400. Single-family sales climbed 5.1% to a 3.95 million SAAR with a $409,500 median, and condos/co-ops rose 5.3% to 400,000 with a $364,400 median. Regions all posted MoM gains (Northeast +2.0%, Midwest -2.0%, South +6.9%, West +6.6%). The 30-year fixed mortgage averaged 6.19% in December, down from 6.24% in November. NAR Chief Economist Lawrence Yun says conditions improved in Q4 thanks to lower rates, but inventory remains tight and more listings are expected in February.
The National Association of Realtors® (NAR) has identified the top 10 housing markets for 2025, highlighting areas with favorable economic and demographic conditions, such as affordable inventory and low mortgage rates. These markets include Boston, Charlotte, and Phoenix, among others. NAR predicts mortgage rates will stabilize around 6% in 2025, encouraging more homebuyers and increasing market activity. Home prices are expected to rise modestly by 2%, with a median price of $410,700. Inventory levels are improving, driven by new construction and more homeowners listing properties.
The US Department of Justice has raised antitrust concerns over a recent $418 million settlement involving the National Association of Realtors (NAR), which mandates new rules for real estate broker commissions. The DOJ's objections focus on a requirement for written buyer-broker agreements, potentially leading to further legal challenges. Despite a Missouri judge approving the settlement, real estate professionals remain worried about future lawsuits and the impact on their industry. The settlement aims to change how commissions are negotiated, but the DOJ's late intervention has left many Realtors uncertain about compliance and potential legal risks.
The U.S. Department of Justice has expressed concerns over the National Association of Realtors (NAR) settlement in the Sitzer/Burnett case, emphasizing that the deal should not shield NAR from future antitrust enforcement. The DOJ's filing highlights issues with buyer agent agreements, suggesting they may limit competition and urging the court to clarify that the settlement does not provide antitrust immunity. This comes ahead of the final hearing for the $418 million settlement, with implications for real estate practices nationwide.
National Association of Realtors President Tracy Kasper resigned, citing a "threat" of blackmail, and NAR's president-elect Kevin Sears has taken over. The organization declined to provide details about the threat, but Kasper reported it to law enforcement. This follows a series of leadership changes and turmoil within NAR, including the resignation of former president Kenny Parcell amid sexual harassment allegations. Kasper's resignation marks another significant development for the organization, which is facing ongoing challenges and calls for leadership accountability.
Tracy Kasper, president of the National Association of Realtors, is stepping down after receiving a blackmail threat related to a personal matter, which she reported to law enforcement.
National Association of Realtors President Tracy Kasper has resigned after receiving a blackmail threat related to a personal matter, prompting her to report it to law enforcement and step down. The trade group appointed President-elect Kevin Sears to take over immediately. Kasper's resignation comes amid a series of scandals at NAR, including the departure of former President Kenny Parcell and CEO Bob Goldberg. Critics have expressed concern over the circumstances of Kasper's resignation and emphasized the need to prosecute any individuals involved in threats, intimidation, or harassment.
A federal jury's ruling against the National Association of Realtors (NAR) and several large brokerages could lead to reduced real estate agent fees and lower costs for home buyers and sellers. The ruling may result in greater transparency in real estate transactions, as well as potential changes to the payment structure for agents. The Department of Justice is also investigating real estate agent compensation practices, which could trigger a broader overhaul of how agents are paid. However, industry experts caution that the final judgment in the case is still pending, and any changes may not have a significant impact on the industry.