Homebuyer sentiment is up, but for how long?
Consumers were considerably more upbeat about the housing market in September, but rising mortgage rates may put a damper on their enthusiasm.
October 7, 2024
Dave Gallagher
Director, News Reporting
Dave's journalism career spans 24 years covering business, the economy and real estate in Northwest Washington. He's also a numbers nerd, examining data to spot emerging trends in industries. Having started his career as a sports writer, he's a lifelong baseball and soccer fan and recently discovered pickleball. He grew up in Yosemite National Park and earned his journalism degree at Humboldt State University in northern California.
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- Mortgage rates jump following strong jobs reportWhile higher levels of employment is good news for real estate in the long term, rising rates may put a damper on home sales this fall.October 4, 2024
- More objections pour in over settlements involving Compass, RedfinA total of nine brokerages have settled in the Gibson/Umpa case, but objectors balk at damage amounts and cite concerns over the impact on homebuyer claims.October 3, 2024
- Buyers are getting ‘a leg up’ for the first time in yearsMortgage rates remain relatively low, and buyer activity, including home tours and mortgage purchase applications, are up.October 3, 2024
- 2 more brokerages agree to settle in commissions caseJohn L. Scott and Real Estate One are the latest firms to reach a deal in the Gibson/Umpa class-action lawsuit.October 2, 2024
- Katie Johnson steps down as NAR’s chief legal officerJohnson oversaw historic — and very public — legal cases for the organization, including the buyer agent commission lawsuits and sexual harassment litigation.October 1, 2024
- KW and other firms supporting agents impacted by hurricanesKW Cares has sent more than 450 generators to associates in the Carolinas, while RE/MAX and Anywhere are helping direct funds to affected agents.October 1, 2024
- Newly ID’d opt-ins will add $30 million to NAR settlement fundPlaintiffs in the Sitzer/Burnett commissions case are seeking preliminary approval for deals with 15 non-Realtor MLSs and 13 real estate brokerages.September 30, 2024
- A double dose of good news for housing affordabilityHome Price Index went up 4.1%, while starter homes are more affordable than they’ve been in four years — in part due to a shift in perspective.September 30, 2024
- The view from California: A 10% jump in home sales next yearHome prices also will increase, with the median at more than $900,000, C.A.R. predicts. But the recent drop in mortgage rates may help would-be buyers.September 29, 2024
- Private firm completes controversial REcolorado acquisitionNew owner aims to make Colorado’s largest MLS more subscriber-centric and simplify transactions as associations pledge “to create exciting new opportunities.”September 27, 2024
- California sets a 3-month limit on buyer agent agreementsThe new law, which takes effect Jan. 1, allows agreements to be extended — but not automatically. It was created in response to the NAR settlement.September 27, 2024
- Lower rates attract refinancing — are homebuyers next?While touring is up, mortgage purchase applications and pending sales are subdued. Inventory shows some promise, but “extra stale” listings have increased.September 26, 2024
- New home sales may have hit a rates-related speed bumpAugust numbers were down nearly 5% from July, but came in better than a year ago and are still expected to outperform existing home sales in the coming months.September 25, 2024
- Redfin ramping up, sees a brighter spring aheadAgent count is growing, teams are expanding and its new compensation plan — Redfin Next — is going national faster than expected, according to a top exec.September 24, 2024
- Sluggish August caps off ‘disappointing’ summerExisting homes sales were down 4.2% year-over-year as prices kept climbing, keeping buyers sidelined. The good news: Inventory continues to build.September 19, 2024
- Mortgage rates hovering around 6% — but now what?Economists are divided over whether rates will continue to drop — and whether “the dam is going to break” and unleash a flood of buyers.September 19, 2024
- The Fed goes big with first rate cutThe board took an aggressive approach with its 50-basis point cut, and signaled that two more cuts are coming this year.September 18, 2024
- Construction activity on the reboundHousing starts and completions rose year-over-year, and builders expressed more confidence this month — but a significant housing shortfall remains.September 18, 2024
- It’s decision time for the Fed, but it may be coming too lateWhile a rate cut — which could further drive down mortgage rates — would help homebuyers, there are other headwinds at play in the final months of 2024.September 17, 2024
