REAL ESTATE BLOG

By: Melissa Dittmann Tracey   You don’t have to spend a fortune to give your outdoor space more impact. Shelby Greene, a studio stylist at furniture retailer Living Spaces, offers some tips to transform the yard—whether big or small—on a tight budget. Lounging space: “Create a space where you and your guests can relax and soak up the nice weather,” Greene says. “To turn a backyard into a...

By: Melissa Kolodziej   Written by Melissa Kolodziej, Director of Community Relations, Raleigh Regional Association of REALTORS® In late 2019, Raleigh Regional Association of REALTORS® (RRAR) started a new journey in community engagement and relationship building. We recognized that if we truly wanted to be the best advocates for our members and ask the “tough” questions of our elected leaders, we needed to...

By: Scholastica (Gay) Cororaton   Apartment occupancy has increased in nearly all markets since the pandemic The apartment market is booming. Based on NAR's analysis of CoStar market data in 138 markets1, net absorption (change in number of occupied units) rose by 207,035 units in 2021 Q2 from the prior quarter. In 2019 Q2, a pre-pandemic period, net absorption was only 116,526 units, about half the current pace of...

By: Melissa Dittmann Tracey   Since the pandemic began, homeowners have had to figure out how to make every square inch of their properties usable. Lately, they’re looking to the garage, adding functionality to the space besides just for parking. The garage also could serve as a gym, play area, or home office. Aaron Cash, cofounder of home improvement firm Garage Living, says homeowners are taking a particular interest in...

By: Michael Hyman   At the national level, housing affordability declined in May compared to a year ago according to NAR's Housing Affordability Index, as the median family incomes rose modestly by 1.2% while the monthly mortgage payment increased 20%. The effective 30-year fixed mortgage rate1 was 3.01% this May compared to 3.29% one year ago, but the median existing-home sales price rose 24.4% from one year...

By: Catherine Mesick   “There are three places we can be in life financially,” said Ian Pruckner, speaking to host Aaron Amuchastegui, in a recent episode of the Real Estate Rockstars podcast(link is external). “We can live in the land of not enough. I remember what that’s like…The lack of money consumes you. Every decision you make is being made out of a position of lack. “The second...

Submitted by HomeLight(link is external) If you’re looking to cash in on this booming seller’s housing market,(link is external) you may want to put more focus on the home’s exterior. A home’s outward appearance plays a big role in whether potential buyers want to tour the interior. HomeLight, a real estate referral company, offers up several ways to give the home’s curb appeal an instant makeover: Lisa Romerein / Stone / Getty...

By: Lawrence Yun   “A strong 850,000 net new jobs were added in June. Residential construction workers and general contractors rose by 15,200, showing that more homes will be completed in the upcoming months and more housing inventory will be added. Commercial real estate shaved 11,700 construction and contractor jobs in June, marking a third straight month of decline, which assures no oversupply in the office and retail...

By: Scholastica (Gay) Cororaton   Homebuyers who make a 20% down payment and waive appraisal and inspection contingencies are on the rise, based on the May 2021 REALTORS® Confidence Index (RCI) Survey which reports monthly transactions from a random sample of REALTORS®1. Among all buyers2 who obtained a mortgage in May, the share of mortgages associated with at least a 20% down payment rose to 52% in May...

By: Holly Moskerintz   The National Association of REALTORS® encourages our state and local REALTOR® Associations to partner with others to make their communities better places to live. Our Placemaking Grant is available to our REALTOR® Associations to help fund the creation of new public spaces and destinations in a community. Since the launch of the grant in 2014, we have approved over $1.2 million in funding in over...

By: Melissa Dittmann Tracey (link is external) Interior designer Esther Dormer sought to give an old space a new life. She bought a dilapidated unit in an abandoned, 80-year-old building in Pittsburgh in March 2020, recognizing the potential in its stunning cityscape views and desirable location near restaurants and shops. Dormer spent last summer rehabbing the place during the COVID-19 pandemic. Every room in the house needed work. The...

Submitted by A Design Partnership(link is external) A Design Partnership, a public relations firm for designers, asked some of its leading clients nationwide to show off their favorite dad-inspired home designs. Use their creative works below as inspiration to make a Father’s Day gift list for dads who may be looking to spruce up their homes. The Pampered Dad Designer Marlaina Teich(link is external) recently completed a project for a professional New York baseball...

By: Nadia Evangelou Mortgage rates dropped further this week, although the Fed revised upward their forecast about inflation. Specifically, the 30-year fixed mortgage rate fell to 2.93% from 2.96% the previous week. In fact, mortgage rates remain at or below 3.00% for the ninth straight week. Thus, many homebuyers can benefit from these low rates while home prices are reaching record highs. Since 85% of buyers finance their home...

"The job market continues to make progress with 551,000 net new additions in May. Another 7 million jobs are still needed to get us back to pre-pandemic conditions. Construction jobs got a boost of 4,400 from homebuilding but were lower by 2,500 for residential general contractors. More lumber is needed but there were 1,100 fewer workers in the logging industry. In commercial real estate, there were 500 more jobs in the construction of buildings but a reduction of 16,800 general...

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Our homes are so much more than the houses we live in. For many, they’ve also become our workplaces, schools for our children, and safe harbors in which we’ve weathered the toughest moments of a global pandemic. Today, 65.6% of Americans call their homes their own, a rate that has risen to its highest point in 8 years. As National Homeownership Month kicks off this June, homeowners have every reason to celebrate. A survey by Gallup just ranked real estate as...

By: Melissa Dittmann Tracey     Windows are becoming a greater focal point in home design. Trendy black-trimmed exterior windows are gaining popularity, and more emphasis is being placed on showcasing windows from inside as well. Windows connect the indoors and outdoors and satisfy yearnings for nature for homeowners quarantining inside. Here are some ways windows are being showcased more in home design. 1. Black-trimmed,...