First-Time Buyers at 24%, Age Hits Record High

First-Time Buyers at 24%, Age Hits Record High

A record high 26% of buyers paid cash for their home and 17% purchased a multigenerational home, according to NAR’s new 2024 buyers and sellers profile. WASHINGTON — The first-time homebuyer market share decreased to a historic low of 24% (down from 32% last year),...
Federal Reserve Set to Cut Rates Again

Federal Reserve Set to Cut Rates Again

The Federal Reserve meets later this week and is expected to cut their benchmark rate by a quarter-point. Interest rates impact mortgage rates. WASHINGTON — No one knows how Tuesday’s presidential election will turn out, but the Federal Reserve’s move two days later...
Google Ad Change Could Impact Small Businesses

Google Ad Change Could Impact Small Businesses

By Mae Anderson Businesses that use Google Local Services for ads should get verified on Google or run the risk of having their advertising paused. NEW YORK — Google is changing the way its Google Local Services ads work, which could affect millions of small...
Contract Signings Signal Market Improvements

Contract Signings Signal Market Improvements

By Melissa Dittman Tracey NAR Chief Economist Lawrence Yun forecasts improved home sales, slower appreciation and falling mortgage rates over the next two years. CHICAGO — More home buyers signed contracts for a home purchase in September, a sign that the housing...
Will Hurricanes Deter Newcomers? History Says No

Will Hurricanes Deter Newcomers? History Says No

By Mike Schneider Florida’s population has grown by one-third to 23 million residents in the two decades since Charley, Frances, Jeanne and Ivan ravaged the state. ORLANDO, Fla. — The news rippled through Treasure Island, Florida, almost like a third storm: The...