Mortgage Activity Remains Low Due to Market Uncertainty

Per the Mortgage Bankers Association’s (MBA) survey through the week ending November 4th, total mortgage activity declined 0.1% from the previous week and the average 30-year fixed-rate mortgage (FRM) rate rose eight basis points to 7.14%. The FRM rate has risen 33 basis points over the past month and has been above 7% for the past three weeks.
 

All-Cash New Home Sales Outnumber FHA-Backed for the First Time Since 2007

NAHB analysis of the most recent Quarterly Sales by Price and Financing published by the U.S. Census Bureau reveals that new home sales financed through FHA numbered 11,000 and accounted for 7.5% of the total in Q3 2022–the smallest share since the fourth quarter of 2007.
 

Here's how affordable housing fared on midterm ballots

One housing affordability measure made it on a statewide ballot in this year’s midterm elections amid a nationwide housing crisis that has left the U.S. short at least a million homes — and it is projected to pass narrowly.
 

Trevor Noah Lists His Manhattan Penthouse For $12.95 Million

The apartment includes a floating staircase, floor-to-ceiling windows and 15-foot ceilings.
 

U.S. Mortgage Rates Set To Tumble Next Year, Wells Fargo Says

Mortgage rates probably will peak in 2023’s first quarter at a 22-year high of 7% before dropping to an almost two-year low of 5.8% by the end of the year, according to a Wells Fargo forecast.
 

Clyburn Re-Ups Support For G.I. Bill Restoration Act On This Veteran’s Day

We have a responsibility to address the wealth gap exacerbated by the government’s failure to guarantee that the federal benefits earned and deserved by all veterans were accessible to World War II veterans of color.
 

As Temperatures Drop, the Real Estate Market Is Cooling Down, Too

Median prices keep creeping up compared to past years, but home sales in the Portland metro area are slowing down in a steeper version of the usual seasonal slump.
 

Just How Low Will Home Prices Go This Year? Our Chief Economist Offers a Bold Prediction

All eyes have been glued to mortgage rates lately as those all-important fees continue their seemingly inexorable upward march.

 

While average rates for a 30-year fixed-rate mortgage dipped to 6.95% last week, that figure climbed back to 7.08% for the week ending Nov. 10, according to Freddie Mac.
 

Seattle homeowners win lawsuit after ‘dream house’ became ‘nightmare’

A state Supreme Court ruling could bring changes to construction contracts and reminds homeowners to carefully read the fine print.
 

Seattle’s Redfin to cut workforce by at least 13%, stop flipping homes

Redfin plans to lay off 862 employees nationwide, including 75 jobs in Washington. It will also shut down its house-flipping business, RedfinNow.
 

As housing costs soar, co-living makes a comeback

The living arrangements, known as “dorms for adults,” are on the upswing after declining in the pandemic, and developers are adapting to the renewed interest.
 

Strategic Framework and 2023-2025 Strategic Plan

Foundational pillars of NAR's Strategic Framework, Strategic Plan, and Diversity, Equity, and Inclusion Strategic Plan.
 

S&P/Case-Shiller OR-Portland Home Price Index
 

S&P/Case-Shiller WA-Seattle Home Price Index