National Real Estate News

• Real Estate Forecast Summit: 2021 Global Update
  
  On July 26, 2021, NAR held its virtual Real Estate Forecast Summit: Global Update event, which will provide an outlook on the changing international real estate market.
• Monthly State Retail Sales, January 2019 to May 2021
  
  The U.S. Census Bureau has released a new experimental Monthly State Retail Sales (MSRS) data product that combines monthly retail trade survey data, administrative data, and third-party data that features modeled state-level retail sales.
• August 2021 Existing-Home Sales Decline and Home Price Appreciation Slows
  
  Housing market activity this August declined 2.0% from July 2021, and weakened 1.5% from August 2020.
• Instant Reaction: Mortgage Rates, September 23, 2021
  
  According to the finance mortgage provider Freddie Mac, the 30-year fixed mortgage rate rose slightly to 2.88% from 2.86% the previous week. NAR forecasts the 30-year fixed mortgage rate to reach 3.5% by mid-2022.
• Existing-Home Sales Recede 2.0% in August
  

  In August 2021, each of the four major U.S. regions experienced declines on both a month-over-month and a year-over-year perspective, breaking a two-month streak of increases.

• Instant Reaction: Housing Starts, September 21, 2021
  

  Total housing starts and housing permits made decent gains in August compared to the month prior, but the focus was on multifamily units.

• Metro Area Wealth Gains as of 2021 Q2: Typical Gain of $349,000 Over 30 Years
  
  Homeownership is a key pathway to building wealth and narrowing the racial income and wealth inequality gap. Housing wealth (equity) accumulation takes time, and is built up by price appreciation and paying off the mortgage.
• Instant Reaction: Retail Trade Sales September 16, 2021
  
  Retail sales recorded a seasonally adjusted total of $618.7 billion in August 2021, a 0.7% increase from July.
• Instant Reaction: Mortgage Rates, September 16, 2021
  
  NAR expects rates to inch higher, reaching 3.5% by mid-2022 as the Fed will likely start reducing its bond purchases before the end of the year and raising interest rates in mid-2022.
• NAR Report Finds Four Out of Five Real Estate Firms Operated From a Single Office in 2020
  

  NAR surveyed REALTOR® executives and senior managers to learn about firm demographics, composition, benefits offered to staff, business activity and market forecasts.

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