NAR

Housing Affordability, Maintaining Sufficient Inventory and Keeping up With Technology Among Biggest Challenges for Real Estate Firms Over the Next Two Years, NAR Report Finds

Retrieved on: 
Wednesday, October 4, 2023
Insurance, NAR, Calendar, Statistics, Research, Lautze Mosque, National Association, Real estate, Renting, Property management

Housing affordability, maintaining sufficient inventory and keeping up with technology were among the biggest challenges cited for firms in the next two years, according to the 2023 Profile of Real Estate Firms by the National Association of Realtors®.

Key Points: 
  • Housing affordability, maintaining sufficient inventory and keeping up with technology were among the biggest challenges cited for firms in the next two years, according to the 2023 Profile of Real Estate Firms by the National Association of Realtors®.
  • In 2022, the overwhelming majority of real estate firms – 81% – operated from a single office and typically had three full-time real estate licensees.
  • “Due to tight inventory, the outlook among real estate firms is more conservative since the pandemic-induced housing boom,” Lautz said.
  • The confidence interval at a 95% level of confidence was +/-1.27% based on the share of real estate executives at real estate firms.

Homes.com Skyrockets Past 100 Million Unique Visitors in September

Retrieved on: 
Monday, October 2, 2023
Internet, Residential Building & Real Estate, Apps, Applications, Technology, Construction & Property, Realtor.com, CoStar Group, Sale, Growth, School, Love, Homes.com, NAR, Real estate, Redfin

CoStar Group (NASDAQ: CSGP), an S&P500 leading provider of online real estate marketplaces, information, and analytics, today announced Homes.com achieved a major milestone in September with over 100 million unique visitors, now positioning Homes.com as one of the two most heavily trafficked real estate portals in the U.S.

Key Points: 
  • CoStar Group (NASDAQ: CSGP), an S&P500 leading provider of online real estate marketplaces, information, and analytics, today announced Homes.com achieved a major milestone in September with over 100 million unique visitors, now positioning Homes.com as one of the two most heavily trafficked real estate portals in the U.S.
    Homes.com’s 100 million unique monthly visitors beat direct competitor Realtor.com, who recently reported 74 million monthly unique visitors, and Redfin, who recently reported 52 million unique visitors.
  • * In total, CoStar Group’s network of U.S. real estate portals brought in 160 million unique visitors in September, which is more traffic than Realtor.com and Redfin generated combined.
  • Homes.com is also advantaged with a clear and intuitive user experience that is free from random distracting ads.
  • “We set out to deliver an agent friendly site that homebuyers would love, and we believe 100 million unique visitors in September is evidence we have achieved that goal,” said Andy Florance, Founder and Chief Executive Officer of CoStar Group, which owns and operates Homes.com.

Pending Home Sales Tumbled 7.1% in August

Retrieved on: 
Thursday, September 28, 2023
Index, Growth, Housing, NAR, Real estate, Music, Insurance

Pending home sales slumped in August, down 7.1% from July.

Key Points: 
  • Pending home sales slumped in August, down 7.1% from July.
  • Pending home sales dropped in all four U.S. regions month-over-month and compared to one year ago.
  • Pending home sales slid 7.1% in August, according to the National Association of Realtors®.
  • “Moreover, the government shutdown will disrupt some home sales in the short run due to the lack of flood insurance or delays in government-backed mortgage issuance,” said Yun.

Existing-Home Sales Decreased 0.7% in August

Retrieved on: 
Thursday, September 21, 2023
Freddie Mac, Total, National Association, Housing, Sellers, NAR, Bottled water, Cryptocurrency

The median existing-home sales price climbed 3.9% from one year ago to $407,100 – the third consecutive month the median sales price surpassed $400,000.

Key Points: 
  • The median existing-home sales price climbed 3.9% from one year ago to $407,100 – the third consecutive month the median sales price surpassed $400,000.
  • Existing-home sales moved lower in August, according to the National Association of Realtors®.
  • Among the four major U.S. regions, sales improved in the Midwest, were unchanged in the Northeast, and slipped in the South and West.
  • Distressed sales[5] – foreclosures and short sales – represented 1% of sales in August, unchanged from last month and the previous year.

Miami Total Home Sales Priced Between $600K to $1M Soar

Retrieved on: 
Thursday, September 21, 2023
MLS, Brookings Institution, State, REO, Partnership, Housing, REO Motor Car Company, Average revenue per user, NAR, Internal Revenue Service, Statistics, Multiple listing service, Fintech, Sale, CoreLogic, United States Census Bureau, Local, Freddie Mac, News, Population growth, Locksmithing, Real estate, Drug, Cryptocurrency, Citrus, Property management, LoopNet

MIAMI, Sept. 21, 2023 /PRNewswire-PRWeb/ -- Miami-Dade County total home sales priced between $600K to $1M jumped double digits year-over-year, according to August 2023 statistics released by the MIAMI Association of Realtors (MIAMI) and the Multiple Listing Service (MLS) system.

Key Points: 
  • MIAMI, Sept. 21, 2023 /PRNewswire-PRWeb/ -- Miami-Dade County total home sales priced between $600K to $1M jumped double digits year-over-year, according to August 2023 statistics released by the MIAMI Association of Realtors (MIAMI) and the Multiple Listing Service (MLS) system.
  • Miami August 2023 total home sales are down 8.3% year-over-year in comparison to pre-pandemic August 2019.
  • Short sales and REOs accounted for 0.3% and 0.9% year-over-year, respectively, of total Miami sales in August 2023.
  • Cash sales represented 40.3% of Miami closed sales in August 2023, compared to 39.7% in August 2022.

General Mills Reaffirms Annual Guidance and Provides Business Update at 2023 Barclays Global Consumer Staples Conference

Retrieved on: 
Wednesday, September 6, 2023
Retail, Other Consumer, Consumer, Supermarket, Pets, Food, Beverage, CT, NAF, NAR, Parent, Ice cream, GAAP, Interest, Pet, M&A, General Mills, Growth, EPS, Environment, Conference, NYSE, Barclays, GIS, Recycling, International

In conjunction with its participation at the 2023 Barclays Global Consumer Staples Conference, General Mills (NYSE: GIS) provided an update on progress against its three enterprise priorities and reaffirmed its full-year financial outlook for fiscal 2024.

Key Points: 
  • In conjunction with its participation at the 2023 Barclays Global Consumer Staples Conference, General Mills (NYSE: GIS) provided an update on progress against its three enterprise priorities and reaffirmed its full-year financial outlook for fiscal 2024.
  • General Mills is executing its Accelerate strategy to drive sustainable, profitable growth and top-tier shareholder returns over the long term.
  • As part of the company’s attendance at the 2023 Barclays Global Consumer Staples Conference, Kofi Bruce, Chief Financial Officer, and Jon Nudi, Group President, North America Retail, will participate in a webcasted fireside chat on Wednesday, Sept. 6, 2023, at 1:30 p.m. CT.
  • Interested parties can access the webcasts of the Barclays conference and the company’s discussion of its first-quarter results at www.generalmills.com/investors .

NAR Names Productive.ai Winner of 2023 Pitch Battle Competition at iOi Summit

Retrieved on: 
Wednesday, August 30, 2023
Insurance, Arm, Pitch, NAR, Opportunity, IOI, SCV, Love, CRM, REACH, McGoldrick, AI, National Association, Property technology, Automation, Real estate, Ethics

Miami, Aug. 30, 2023 (GLOBE NEWSWIRE) -- The National Association of Realtors® announced Productive.ai as the winner of the fifth annual “Pitch Battle” competition at the 2023 Innovation, Opportunity & Investment (iOi) Summit .

Key Points: 
  • Miami, Aug. 30, 2023 (GLOBE NEWSWIRE) -- The National Association of Realtors® announced Productive.ai as the winner of the fifth annual “Pitch Battle” competition at the 2023 Innovation, Opportunity & Investment (iOi) Summit .
  • “In this year’s Pitch Battle, we once again saw the remarkable caliber of PropTech ideas shaping the future of real estate,” said NAR CEO and SCV President Bob Goldberg.
  • Imagine if it could enhance your voice.”
    Productive.ai will be awarded $15,000, a booth at NAR’s annual conference in November ( NAR NXT ) and will present the next Pitch Battle winner at the 2024 iOi Summit.
  • “We're building a connection – and that is a superpower.”
    To see the full list of 2023 Pitch Battle finalists, visit ioisummit.realtor/pitch-battle .

Pending Home Sales Elevated 0.9% in July, Marking Second Consecutive Monthly Increase

Retrieved on: 
Wednesday, August 30, 2023
Index, NAR, Real estate

Pending home sales fell in all four U.S. regions compared to one year ago.

Key Points: 
  • Pending home sales fell in all four U.S. regions compared to one year ago.
  • Pending home sales increased 0.9% in July – rising for the second consecutive month – according to the National Association of Realtors®.
  • The Northeast and Midwest posted monthly losses, while sales in the South and West grew.
  • The Pending Home Sales Index (PHSI)* – a forward-looking indicator of home sales based on contract signings – rose 0.9% to 77.6 in July.

Miami Home Prices, Household Income Continue to Rise with Wealth Migration; More Inventory Needed for High-Demand Market

Retrieved on: 
Tuesday, August 22, 2023
MLS, Brookings Institution, State, REO, Partnership, Housing, REO Motor Car Company, Average revenue per user, NAR, Internal Revenue Service, Statistics, Multiple listing service, Sale, CoreLogic, United States Census Bureau, Local, Freddie Mac, Growth, News, Population growth, Real estate, Arms industry, Drug, Cryptocurrency, Property management, Citrus, Airline

MIAMI, Aug. 22, 2023 /PRNewswire-PRWeb/ -- Miami-Dade single-family pending sales and total South Florida showing appointments increased year-over-year, according to July 2023 statistics released by the MIAMI Association of Realtors (MIAMI) and the Multiple Listing Service (MLS) system.

Key Points: 
  • "Even with mortgage rates at 20-year highs, Miami real estate continues to show rising single-family pending sales and increasing condo luxury sales," MIAMI Chairman Ines Hegedus Garcia said.
  • Most of the homes purchased in July 2023 came to terms in June when mortgage rates peaked at 6.71%.
  • Even with the elevated rates, Miami-Dade single-family pending sales rose for the second consecutive month, increasing year-over-year from 1,016 to 1,032 transactions.
  • Miami single-family median prices have risen for 140 consecutive months (11.7 years), the longest running-streak on record.

Existing-Home Sales Slipped 2.2% in July

Retrieved on: 
Tuesday, August 22, 2023
Freddie Mac, Total, National Association, Housing, Sellers, NAR, Cryptocurrency, Real estate

It was the fourth time the monthly median sales price eclipsed $400,000, joining June 2023 ($410,000), June 2022 ($413,800) and May 2022 ($408,600).

Key Points: 
  • It was the fourth time the monthly median sales price eclipsed $400,000, joining June 2023 ($410,000), June 2022 ($413,800) and May 2022 ($408,600).
  • Among the four major U.S. regions, sales grew in the West but faded in the Northeast, Midwest and South.
  • “Two factors are driving current sales activity – inventory availability and mortgage rates,” said NAR Chief Economist Lawrence Yun.
  • Distressed sales[5] – foreclosures and short sales – represented 1% of sales in July, virtually unchanged from last month and the previous year.