Single-family home sales prices increased in 189 out of 221 metro areas analyzed, with the median single-family price in the country rising 3.5% year over year to $391,700.

If it sells for close to the asking price, the sprawling family compound would be the most expensive residential sale in U.S. history.

The acquisition will bring most of Draper and Kramer’s loan originators and operations and support staff to NAF.

Pending home sales rose 8.3% month over month, the National Association of REALTORS® said, marking the largest monthly jump since 2020. 

Declining interest rates spurred the increase. 

At the same time, the median sales price rose 4.4% to $382,600. 

The NAHB/Wells Fargo Housing Market Index (HMI) rose seven points to 44, its second monthly increase in a row. 

NAR President-elect Kevin Sears will move into the role of president, effective immediately.

Immigrants working in U.S. construction hit 2.9 million.

How will our homes evolve in the new year?

Homesellers who worked with a real estate agent during the last two years made more profit and had fewer regrets.

The only region of the U.S. that didn’t experience an annual decline in existing home sales was the Midwest, where sales were unchanged year over year.

Tracy Kasper was named 2024 president of the National Association of Realtors® during the organization’s annual event in Anaheim, California. 

Detached single-family homes remained the most popular type of housing, making up 79% of all home purchases during the past year.

Real estate firm leaders are worried about housing affordability and inventory in the next two years, according to the 2023 Profile of Real Estate Firms by the National Association of REALTORS®.

Today’s homebuyers are more likely to pay cash and be unmarried and childless than in previous years. They’re also entering their new homes with a much steeper income, according to NAR’s annual Profile of Home Buyers and Sellers report.