Happy New Year! As we kick off 2024, expect more important industry news and updates about things coming to the Triangle this year. Mortgage application volume is up, new developments in Raleigh suburbs and Buc-ee’s is coming to North Carolina! We’ve got you covered with these real estate and NC related news articles linked below. Mortgage Application Volume Up Nearly 10% “Despite an uptick in mortgage rates to start 2024, applications increased after adjusting for the holiday,” said Joel Kan, MBA’s vice president and deputy chief economist. “The increase in purchase and refinance applications ..read more

Happy Holidays! As 2023 comes to a close we wanted to share one last blog of industry news this December. Mortgage rates plummet, AI is everywhere you look… even in house listings, and the 2023 housing report from Rocket Houses. We’ve got you covered with these highlights below. REDFIN Launches AI-Powered Tool to Redesign Listing Photos “Buyers often want to know what a home will look like with some changes, not just what it looks like right now,” said Ariel Dos Santos, Redfin’s senior vice president of product. “Sellers want their listings to appeal to the broadest pool of buyers, regardless ..read more

Check out some of the news we want to share with you this November. Mortgage rates are still climbing, Gen Z is living with their parents for longer, and average household income is rising too. We got you covered with these highlights below. NAR Chief Economist Lawrence Yun Forecasts Existing Home Sales Will Rise by 15% Next Year and Mortgage Rates Will be Between 6-7% by Spring 2024 Elevated mortgage rates, high home prices and limited housing inventory are making the dream of homeownership difficult for Americans, according to NAR Chief Economist Lawrence Yun. He analyzed the current state o ..read more

Check out some of the news we want to share with you this September. Morgate rates dropping, but not by much. Learn about the new affordable housing projects in Raleigh! Are you a home owner looking to boost your curb appeal or maybe you’re trying to make the most of a small room in an apartment? We got you covered with these highlights below. Mortgage Rates Drop But Remain Above 7% Mark The 30-year fixed-rate mortgage averaged 7.12% as of Sept. 7, according to the Primary Mortgage Market Survey published by Freddie Mac (OTCQB: FMCC). This is a decline from last week when it averaged 7.18%. A ..read more

Check out some of the news we want to share with you this July. Are you a first time home buyer wondering how to find the right spot for you? Or are you a home owner and it’s time to update the kitchen? Also stay tuned as we discuss mortgage rates and what you need to know in the market today. 2023’s Best & Worst Cities for First-Time Home Buyers Buying a home for the first time is an exciting and important milestone for many Americans. Their purchases make up a sizable chunk of the market, too. In 2022, 26% of home purchases were made by first-time buyers, down from 34% the prev ..read more

Check out some of the news we want to share with you this June. From mortgage rates dropping again to what you can get for $1,100 in Raleigh. Also tips on 10 cities in which you should invest in properties. REMAX Reports Sizeable Jump In May Home Sales The latest national housing report from RE/MAX (NYSE:RMAX) found a 20% increase in home sales from April to May, although May’s sales were also down 18.7% from one year ago. “The sizeable jump in May homes sales signals the start of the peak selling season, but lack of inventory remains the biggest challenge for home buyers,” said Nick Bailey, R ..read more

Check out some of the news we want to share with you this May. From mortgage rates dropping to colorful kitchens, we cover it all. Also learn 15 key things that will always fail a home inspection, and how to fix them. Q1 Existing Single-Family Home Sales Prices Up in 7 Out of 10 Metro Markets Sales prices on existing single-family homes during the first quarter were up in approximately 70% of major metro areas – 152 out of 221 markets – according to new data from the National Association of Realtors (NAR). However, the $371,200 national median single-family existing-home price was down by a sc ..read more

Check out some of the news we want to share with you this April. From vacation home demand to mortgage trends to what color people like to paint the exterior of their homes, we cover it all. Also learn 15 key things to do regularly to keep your home at it’s peak quality. Vacation Home Demand Sinks in Post-Pandemic Market Demand for vacation homes plummeted by 52% from pre-pandemic levels in March, according to new data from Redfin (NASDAQ:RDFN). In comparison, the demand for primary homes were down by only 13%. WRE News Freddie Mac Reports Mortgage Rate Drop “Mortgage rates continue to trend d ..read more

How the Current Real Estate Market Can Affect Your Finances The real estate market is in an interesting state right now. Home sales are slowing because of higher interest rates, but prices in some areas have yet to drop. Overall, the median existing home sales price in January 2023 was up 1.3% from the same time last year, but home prices in expensive areas have gone down, while prices in less expensive areas have gone up. Entrepreneur Hispanic Homeownership Growth Continues Eight Year Trajectory “Latinos continue on an 8-year homeownership growth trajectory despite home price apprec ..read more

How to Handle Buyer Love Letters There are potential risks involved in this common tactic, including fair housing violations. Here are seven tips for tackling love letters with your clients. Realtor Magazine New Housing Data Suggests Market Slowdown Is Ending Pending home sales increased in December for the first time in six months, and new-home sales and mortgage applications are rising. Realtor Magazine SINGLE RENTERS PAY A ‘SINGLES TAX’ OF NEARLY $7,000 FOR LIVING ALONE Zillow has uncovered a heartbreaking truth for apartment-hunting singles: Renters living in a one-bedroom on their own fac ..read more