These new homes are envisioned as “missing middle housing,” such as medium and large apartment buildings.

A second consecutive month of increases in the S&P CoreLogic Case-Shiller U.S. National Home Price Index could indicate a reversal of the negative trend that began last year. 

The incoming executive has held similar roles at BlueLinx Corp. and Extended Stay America. 

Despite solid demand, a dearth of homes for sale kept transaction numbers muted in the association’s most recent report on pending sales. 

A shortage of existing inventory continues to drive buyers to new construction. 

Multiple-offer situations have returned with the spring buying season while distressed and forced sales are “virtually nonexistent,” the National Association of REALTORS® said.

The hire follows the December 2022 firing of the homebuilder’s senior vice president for field operations, who had been tapped to become COO on Jan. 1. 

Single-family permits also posted a gain, indicating even more new homes are headed to today’s supply-constrained housing market. 

Homebuilder optimism was buoyed by continued shortages of new housing inventory, the National Association of Home Builders reported. 

Realtors will be required to complete two hours of training every three years beginning in 2025. 

The mortgage industry decried the proposed loan-level pricing adjustment for borrowers with higher debt-to-income ratios. 

Interest rates on mortgages of all types declined last week, spurring an uptick in borrowing, the Mortgage Bankers Association reported. 

NAR Chief Economist Lawrence Yun said the Federal Reserve’s latest increase in its benchmark interest rate is an unnecessary threat to many small regional banks.

The brokerage says the “business communities” — KW Operations, KW Wellness and KW Clarity — provide agents with specialized training, technology, coaching and referral opportunities. 

High demand drove multiple offers on about a third of pending sales, while 28% of homes sold above list price, the National Association of REALTORS® reported. 

U.S. government data shows builders increased the pace of single-family home construction while slowing the pace of multifamily starts.