A disappointing September pushes home sales to 14-year low
Lower mortgage rates and rising inventory failed to entice buyers, particularly first-timers, as prices continued their year-over-year climb.
October 23, 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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- CoStar continues to grow, but not without some painRevenue was up 11%, and the company plans to accelerate the growth of the Homes.com sales team despite some slowdown in traffic from the previous quarter.October 22, 2024
- Top portals forge new partnership with enhanced listingsZillow will share 3D Home tours, interactive floor plans and other listing features with Realtor.com beginning in 2025, part of a larger focus on collaboration.October 22, 2024
- Will builders start lowering agent commissions?Most haven't, data shows, as they wait for the post-settlement dust to settle. Instead, they’re leaning into agent relationships and rethinking incentives.October 22, 2024
- NAR, 4 brokerages ask court to toss out Homie suitThe defendants cite a lack of jurisdiction in the case, which alleges that NAR “controls competition” and accuses brokers of steering buyers away from listings.October 21, 2024
- NAR hit with another lawsuit over ‘forced membership’A case filed in Pennsylvania challenges membership rules and accuses associations of discriminatory treatment of minority real estate professionals.October 21, 2024
- For one pandemic boom town, balance is returningBuyers flooded the Austin market a few years ago, sending home prices sky-high. Now, the market has come back to earth, but affordability is still an issue.October 18, 2024
- Rising rates a bummer for buyers, but builders are more bullishMortgage rates moved up again, but for the market as a whole, “the worst may be behind us.” Plus, improving builder optimism could mean more future supply.October 17, 2024
- Buy a house before this election? First-timers vote noNearly a quarter of first-time buyers may wait even longer, to see if down payment help or other candidate promises materialize in 2025, a Redfin survey found.October 15, 2024
- Up for negotiation: Commission feesMore than half of recent sellers say they negotiated with their agent to lower the commission, according to new survey data from Zillow.October 14, 2024
- Courts this week: Motions filed in Gibson, Homie; eXp updateDefendants seek dismissals in the Missouri case; leading Utah MLS dropped from lawsuit involving flat-fee brokerage; eXp files settlement.October 11, 2024
- Higher rates, lower inflation: Mixed news creates uncertaintyBuyers are left wondering if they should wait for rates to fall again, as some economists expect, or act now “and worry about rates secondly.”October 10, 2024
- NAR appeals to Supreme Court in DOJ battleThe trade organization filed an official request with the high court today, asking for a review of an antitrust case that was ostensibly closed in 2021.October 10, 2024
- How buyers have (and haven’t) changed in recent yearsZillow’s latest trends report finds that, despite turbulence in the market, consumer traits and preferences are fairly stable — with some key exceptions.October 9, 2024
- Howard Hanna dismissed from Pennsylvania commissions caseWest Penn MLS was also dismissed, with the judge ruling there was no evidence of a conspiracy between the parties to fix rates.October 8, 2024
- 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
- 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
