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ICE: First-time Homebuyers Made Up 55% of Agency Purchase Loans in 2023 Despite Market Slowdown

USA Real Estate News-RISMedia - Wed, 2024-03-27 11:40

The housing market in 2023 was brutal. Mortgage approvals and home sales hit a 30-year low as mortgage rates soared and housing inventory dwindled. But according to new data from ICE Mortgage Technology, a record number of first-time homebuyers took out conventional loans last year despite the slowdown. In all, just 4.3 million mortgages were…

The post ICE: First-time Homebuyers Made Up 55% of Agency Purchase Loans in 2023 Despite Market Slowdown appeared first on RISMedia.

Op-Ed: Debunking the Myths of the NAR Settlement

USA Real Estate News-RISMedia - Wed, 2024-03-27 11:21

Above, Budge Huskey Nearly two weeks ago, the National Association of REALTORS® announced it had entered into a settlement agreement with the class action plaintiffs in what is known as the Burnett vs NAR case, pending final approval by the court.  The basis of the suit is rooted in the most common way in which…

The post Op-Ed: Debunking the Myths of the NAR Settlement appeared first on RISMedia.

Nepo Babies grow up as data points to new phenomenon: Nepo Buyers

USA Real Estate News-Inman - Wed, 2024-03-27 11:16
Thirty-six percent of Gen Zers and millennials who plan to buy a home in the near future intend to use a cash gift from family to contribute to a down payment, according to data from Redfin released Wednesday.

CRMLS CEO Talks New Rules, NAR Settlement and Supporting Buyer Agents

USA Real Estate News-RISMedia - Wed, 2024-03-27 10:44

Above, Art Carter The biggest change coming out of the National Association of REALTORS®’ (NAR) settlement might be most felt by agents, but practically, it is all about the MLS. Starting in July, offers of compensation can no longer be communicated in any way on MLS platforms. That change may or may not have the…

The post CRMLS CEO Talks New Rules, NAR Settlement and Supporting Buyer Agents appeared first on RISMedia.

LoanDepot settles high-profile appraisal bias lawsuit filed in 2022

USA Real Estate News-Inman - Wed, 2024-03-27 10:26
Lender revises appraisal policies and practices in wake of lawsuit by Baltimore couple who claimed their home was undervalued by more than $250,000 because they were Black.
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