New home sales may have hit a rates-related speed bump
August 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
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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- 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
- Fathom settles commissions lawsuit for $2.95 millionThe cloud-based brokerage will pay three installments into the settlement fund over the next two years, pushing the fund total past the $1 billion mark.September 16, 2024
- Attorneys want nearly a quarter billion of NAR, HSoA damagesUsing the “one-third” formula, the plaintiffs’ lawyers are asking for more than $225 million from the two commissions settlements, plus other expenses.September 16, 2024
- Redfin expands pay plan across the USThe brokerage will be offering its Redfin Next commission-split plan to agents in all markets starting Oct. 27, a year after it unveiled the pilot program.September 9, 2024
- Data shares expand in the Southeast, renew in ColoradoAgents in four states — Tennessee, Georgia and the Carolinas — can now access 1.9 million shared listings, while REcolorado and IRES re-up their partnership.September 7, 2024
- How low will the Fed go?A mixed August jobs report has economists speculating about how deep of an interest rate cut the Federal Reserve might make on Sept. 18.September 6, 2024
- Why the market is primed for a mini-rally this fallMore choices and lower mortgage rates may bring out late-season buyers, and they could have an advantage over those who wait until spring.September 5, 2024
- How about a 0.3% mortgage? A world of difference in JapanThe “free” ride may not last as officials seek solutions for a deflationary economy and a glut of homes — the mirror image of what the U.S. is dealing with.September 4, 2024
- Judge recuses herself from Moehrl, Batton casesThe commissions cases will be reassigned after Judge Andrea Wood was made aware of a possible conflict of interest.Updated September 5, 2024
- Florida brokerage the latest to settle in commissions caseThe Keyes Company has reached an agreement in the Gibson lawsuit as the settlement fund nears $1 billion.September 3, 2024
- More Realtors expect an uptick in buyers this fallNAR’s latest confidence survey also suggests that buyers gained some leverage this summer, but overall sales were down.September 3, 2024
- When should sellers play the concessions card?With new rules in place, listing agents need to consider several factors when helping sellers determine their approach to buy-side compensation.August 30, 2024
- Key player in Sitzer/Burnett launches real estate startup“Our hard-won settlement paved the way for a new era,” said Josh Sitzer, whose company offers flat-fee home tour and offer preparation services for buyers.August 29, 2024
- NAR to appeal DOJ case to the Supreme CourtThe association will ask the highest court to weigh in on the case after a lower court ruled that the DOJ could continue its investigation into NAR policies.August 29, 2024
