National News

2024 market outlook: What needs to happen for a robust year

Three real estate CEOs — Victor Ciardelli, Erik Doersching and Thad Wong — explain what needs to happen in real estate for a robust year.

Revealing the top home shopper search terms of 2023

A Zillow analysis of more than 250 billion online searches shows storage and outdoor amenities to be among the top preferences for American home shoppers in 2023.

Number of immigrants working in U.S. construction reaches record high

Immigrants working in U.S. construction hit 2.9 million.

Millennials and baby boomers decorate differently

Americans now spend $5,635 each year on home renovation projects, -plus an additional $1,599 on home decor. However, those averages differ between generations.

Santa’s North Pole cabin listed for $1.18M

Take an AI-powered interactive tour of the listing on Zillow

Nearly half of homesellers don’t know they pay the buyer agent’s commission

According to new data from Clever, 42% of homesellers mistakenly believe that buyers directly pay their agent’s commission fees.

Deck the halls: Unwrapping 2023’s Christmas decorating stats

With the holidays arriving, 83% of Americans are decorating for the festivities, according to Lombardo Homes. The new-construction company is unwrapping all the stats surrounding Americans’ and their holiday cheer.

Living room renovations: America’s hottest home upgrade trend

The term “living room renovation” was Googled 629,832 times per month. The data indicates that Americans are most interested in updating their living rooms.

Dallas/Fort Worth identified as a top market for growth in 2024

The Sun Belt is poised for the strongest residential real estate growth in the U.S., according to the 2024 Emerging Trends in Real Estate report, released jointly by PwC and the Urban Land Institute every year.

NAR installs 2024 leadership team

Tracy Kasper was named 2024 president of the National Association of Realtors® during the organization’s annual event in Anaheim, California. 

NAHB: The two-car garage is king

Across the map, there’s a dominant parking option among single-family homes: the two-car garage. Sixty-six percent of new single-family construction in 2022 included two-car garages.

Homebuyers need an annual salary of $115,000 to afford an average U.S. home

New homebuyers must make an average annual salary of $115,000 to afford the average U.S. home, according to recent studies from Redfin. That’s about $40,000 more than the typical American household earns.

Another lawsuit regarding buyer commissions — this time, in Illinois

In the wake of the Sitzer/Burnett verdict, a new, similar lawsuit — this time on behalf of homebuyers — has been filed in the Northern District of Illinois, Eastern Division.

NAR names Nykia Wright interim CEO, replacing retiring Bob Goldberg

Nykia Wright has been named interim CEO for the National Association of Realtors® (NAR), effective Nov. 20.

NAR, Keller Williams, HomeServices of America found liable of conspiring to inflate commissions

The National Association of REALTORS®, Keller Williams and HomeServices of America were found liable of conspiring to inflate commissions and ordered to pay damages totaling $1.78 billion, a jury in Missouri ruled Tuesday.

Buyer agent commissions hang in the balance during federal case beginning this week

No matter what the jury decides, it could take years for the appeals process to work itself out, delaying any potential changes to agent commissions.

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