Real Estate

Real Estate Market 2024: What to Expect. As we move towards the end of 2023, real estate experts are predicting a turbulent year ahead. Rising interest rates, persistent inflation, and an uncertain economic outlook are expected to slow down the housing market significantly. Homebuyers may find it harder to secure financing, while sellers could struggle […]

NYC Rent Wars: Landmark Court Ruling. A major court ruling in New York City has created shockwaves in the rental market. A judge sided with tenants in a case that could have wide-reaching consequences for rent-stabilized apartments. The decision restricts landlords’ ability to increase rents, even for improvements made to the property. The ruling is

The Luxury Real Estate Market’s Surprising Resilience. Despite economic uncertainties, the luxury real estate market continues to show resilience. High-end properties are still in demand, driven by wealthy buyers seeking investment opportunities and personal retreats. In cities like New York and Los Angeles, luxury homes are selling quickly, often above asking prices. This trend is

The End of Seller-Paid Commissions. Major changes in the real estate landscape have arrived with the end of seller-paid commissions. As of August 17, 2024, buyers must now negotiate and pay their agents directly, a shift that could increase upfront costs for buyers, particularly those with limited funds. This change might add complexity to home

Mortgage Rates Stabilize Amid Market Fluctuations. This week, mortgage rates have shown signs of stability after recent volatility. The average rate for a 30-year fixed mortgage is around 6.58%, slightly lower than last year. This stabilization has led to a surge in refinancing, with applications up by 16.8% as homeowners seek to take advantage of

The Rise of Refinancing in 2024. The recent drop in mortgage rates has sparked a surge in refinancing activity, with many homeowners looking to lower their monthly payments. This trend highlights the importance of monitoring market conditions and being ready to act when rates become favourable. Refinancing can offer significant financial benefits, especially in a

The Growing Popularity of Suburban Living. Suburban living is experiencing a renaissance as more people seek space and affordability outside of urban centres. The pandemic accelerated this trend, with remote work enabling families to move further from city cores. Suburbs are now seeing a surge in demand, driving up home prices and leading to new

Predictions for the U.S. Housing Market. Economic analysts are closely watching the U.S. housing market as mortgage rates stabilize. With a potential Federal Reserve rate cut on the horizon, the market could see increased activity and more favourable conditions for buyers. However, persistent issues like housing shortages and high prices continue to challenge affordability.

The Impact of NAR’s Settlement on Home Sales. The National Association of Realtors (NAR) recently settled a lawsuit that will significantly impact how real estate commissions are handled. Starting this month, buyer’s agent commissions can no longer be listed on the MLS, requiring new agreements between buyers and agents. This change could lead to more

Real Estate’s Role in Economic Recovery. Real estate is playing a significant role in the broader economic recovery post-pandemic. As construction projects ramp up and home sales increase, the industry is contributing to job creation and economic growth. The rise in home prices has also boosted consumer wealth, leading to increased spending in other sectors.