National Real Estate News

• National Multifamily Housing Council Apartment Industry Overview
  
  These slides were presented by Caitlin Sugrue Walter, Ph.D. Vice-President of the National Multifamily Housing Council at the NAR Real Estate Forecast Summit: Commercial Update on March 22, 2023.
• Economic and Commercial Real Estate Outlook for 2023
  
  These slides were presented by NAR Chief Economist Lawrence Yun at the NAR Real Estate Forecast Summit: Commercial Update on March 22, 2023.
• Existing-Home Sales Surged 14.5% in February, Ending 12-Month Streak of Declines
  

  Existing-home sales saw the largest monthly percentage increase since July 2020, with all regions of the U.S. recording month-over-month gains and year-over-year declines.

• Most REALTORS® Recommend Improving Curb Appeal, and Homeowners Can Benefit Financially and Emotionally by Remodeling Outdoor Features, NAR-NALP Report Finds
  

  Landscape professionals and REALTORS® found greater outdoor remodeling demand during COVID-19 pandemic, according to a new NAR-NALP report.

• Instant Reaction: Mortgage Rates, March 16, 2023
  
  Due to recent developments in the banking sector, mortgage rates fell this week to 6.60% from 6.73% the previous week.
• Instant Reaction: Housing Starts, March 16, 2023
  
  Apartment and multifamily housing construction continued its near 40-year high trends with 620,000 units started in February. Single-family home construction is much more restrained.
• NAR Region I Local Market Assessments: Connecticut, Massachusetts, Maine, New Hampshire, Rhode Island, Vermont
  
  This assessment examines global market real estate opportunities in Connecticut, Massachusetts, Maine, New Hampshire, Rhode Island, and Vermont.
• A Stunning Stat: There Are More American Households With Pets Than Children
  
  According to the U.S. Census, the share of families with children living in their homes under the age of 18 has continued to decline.
• Instant Reaction: Jobs, March 10, 2023
  
  With inflation tilting towards deceleration – that is, still rising but at a slower rate – the mortgage rate can also tilt downward in the upcoming weeks.
• Instant Reaction: Mortgage Rates, March 9, 2023
  
  The average rate on a 30-year fixed mortgage rose to 6.73% from 6.65% the previous week.

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