Residential Real Estate
Mortgage Rates Dip Below 7 Percent After Fed Meeting
By Alex Veiga | The Associated Press | December 15, 2023 | Reprints | Unlock Link
The average long-term U.S. mortgage rate dropped below 7 percent to its lowest level since early August, another boost for prospective homebuyers who have largely been held back by sharply higher borrowing costs and heightened competition for relatively few homes for sale.
New Haven, Hartford Win If Mortgage Rates Fall, Economist Says
By James Sanna | December 14, 2023 | Reprints | Unlock LinkBetter affordability statistics in both metro areas mean they’ll likely see more pent-up demand released next year as mortgage rates fall in line with growing certainty about the U.S. economy.
CT’s William Raveis Expands Again in Massachusetts
December 11, 2023 | Reprints | Unlock LinkShelton-based luxury residential brokerage William Raveis has bought its second Massachusetts brokerage in just under two months.
White House Acts to Boost Housing
By Lew Sichelman | December 7, 2023 | Reprints | Unlock LinkThe Biden administration is taking steps to help create more affordable houses and apartments, including accessory dwelling units, which could help fill the inventory gap that plagues the housing sector.
Here’s What Top Economists Think 2024’s Housing Market Will Look Like
By James Sanna | December 5, 2023 | Reprints | Unlock LinkSellers giving in to a “new normal” for mortgage rates. Home prices staying roughly flat. Demand for apartments and rental houses staying strong. And life not getting any better for the workaday homebuyer.
Hartford Housing Market Could Be Near Top-Performer in 2024
By James Sanna | December 4, 2023 | Reprints | Unlock LinkSome experts expect the nation’s housing markets to begin a long, grinding climb-out next year from the multi-year inventory dives they’ve been on since 2020, but one Connecticut market is expected to be among the nation’s best.
Homebuilders Ride a Bifurcated Housing Market
By Lew Sichelman | December 1, 2023 | Reprints | Unlock LinkThe existing home market has been stymied – by mortgage rates in the 8 percent range and ultra-low inventory – and it’s created an opening for builders to take credit for double their normal share of sales.
CT Brokerage Donates Thanksgiving ‘Gift Baskets’ to Neighbors in Need
November 28, 2023 | Reprints | Unlock LinkThese “baskets” were really foil roasting pans creatively wrapped and filled with essential Thanksgiving staples, accompanied by a grocery gift card to purchase a turkey.
Younger Buyers Look to ‘Hack’ Their Houses
By James Sanna | November 20, 2023 | Reprints | Unlock LinkAffordability concerns are everywhere in the nation’s many real estate markets, so is it any surprise that the youngest buyer cohorts are increasingly looking to rent out parts of their homes to make ends meet?
Typical Homebuyer Now Makes $107K
November 17, 2023 | Reprints | Unlock LinkIn another sign of just how expensive American homes and monthly mortgage payments have become, the National Association of Realtors says the typical homebuyer’s income jumped nearly $20,000 in one year.
Don’t Put Your Earnest Money at Risk
By Lew Sichelman | November 16, 2023 | Reprints | Unlock LinkAttaching a check to the offer on a house you hope to purchase is thae right way to signal your intentions to the seller. But that means you need to keep your side of the bargain, too.
Share of Homes Bought with Cash Hits Highest Level in Nearly a Decade
By Alex Veiga | The Associated Press | November 9, 2023 | Reprints | Unlock LinkHomebuyers who can afford to bypass the highest mortgage rates in two decades are increasingly forgoing financing and paying all cash.
William Raveis Buys Massachusetts Brokerage
By James Sanna | November 6, 2023 | Reprints | Unlock LinkShelton-based luxury brokerage William Raveis Real Estate has planted its flag in Massachusetts’ Pioneer Valley region along the Connecticut River with the purchase of a local firm with offices in Northampton and Amherst.
Average Mortgage Rate Slips in First Drop in Seven Weeks
By Alex Veiga | The Associated Press | November 3, 2023 | Reprints | Unlock LinkThe average rate on the benchmark 30-year home loan fell slightly this week, ending a seven-week climb – modest relief for prospective homebuyers even as home loan applications have slumped to their lowest level since 1995.
NAR CEO Out After $1.8B Verdict
By James Sanna | November 2, 2023 | Reprints | Unlock LinkNot quite 48 hours after a Missouri jury awarded home-sellers nearly $1.8 billion in damages in an anti-trust lawsuit against the National Association of Realtors over real estate agent commission practices, the association's chief executive is stepping down. CEO Bob...
Buyers’ Agents’ Fate Is Sealed – If They Don’t Prove Their Value
By Bernice Ross | Special To Commercial Record | November 2, 2023 | Reprints | Unlock LinkThis past week’s ruling in one of the two “bombshell” commission lawsuits and Anywhere Real Estate’s and RE/MAX’s earlier settlements in both cases together form a watershed moment that will ultimately force buyer agents to negotiate their commissions directly with the seller and/or their buyer.
Don’t Put Your Earnest Money at Risk
By Lew Sichelman | November 2, 2023 | Reprints | Unlock LinkAttaching a check to the offer on a house you hope to purchase is the right way to signal your intentions to the seller. But that means you need to keep your side of the bargain, too.
NAR Plans to Appeal $1.8B Commission Lawsuit Verdict
By James Sanna | November 1, 2023 | Reprints | Unlock LinkA Missouri jury handed down a verdict Tuesday afternoon that could upend the residential real estate industry and slap its biggest trade group and several major brokerages with at least $1.8 billion in fines.
How to Buy a House in Other Countries
By Lew Sichelman | October 20, 2023 | Reprints | Unlock LinkIt happens every election cycle: “If that guy wins,” one side or the other vows, “we’re moving to Canada.” It turns out that’s a lot harder than you might think in practice.
Hartford Home Sellers’ Profits Rise Fastest in Nation
By James Sanna | October 20, 2023 | Reprints | Unlock LinkA new report from real estate data firm ATTOM says the few Hartford-area residents who are selling their homes have seen the biggest gain in raw profits among any of the nation’s major metro areas.
