Mortgage rates fluctuate, but market is stabilizing

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Explain how REALTORS®, local broker marketplaces work | Agent given scare by possible squatter | Experts share 5 paths to better decision-making

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April 28, 2023

Top News

Explain how REALTORS®, local broker marketplaces work While NAR fights legal challenges to procompetitive, proconsumer local broker marketplaces, you can educate your community. Full Story: REALTOR® Magazine (4/28)

Best Practices in Sales & Marketing

Agent given scare by possible squatter Real estate professional Alyssa Webb's recent run-in with a possible squatter inside a Montana listing underscores the need for caution. "When you're approaching a residence or business or something where you might be the only one going in, it's important to notice what's going on," said the Billings Police Department's Matt Lennick, who suggests looking out for broken windows and open or unlocked exterior doors. Full Story: Fox News (4/27)

Experts share 5 paths to better decision-making Thorough research and delegation can temper decision fatigue for small-business owners, say business experts, who outline five routes to better decisions. Additional techniques include redefining a choice as a process rather than a moment and weighing the level of risk. Full Story: CO— (US Chamber of Commerce) (4/25)

Real Estate Trends

Mortgage rates fluctuate, but market is stabilizing Despite the weekly volatility in borrowing costs lately, the overall trend is down, NAR says. Full Story: REALTOR® Magazine (4/27)

Co-ownership can be an affordable option for buyers Canadians may look to co-ownership as a way to lower the costs of buying a home, though currently only a small percentage of buyers choose to live in homes owned with others. However, there are risks such buyers should be aware of. Full Story: The Globe and Mail (Toronto) (tiered subscription model) (4/28)

Phoenix listing appeals to fans of mid-century modern Christi Brink of RETSY is listing this $4.25 million Phoenix home designed by architect Arthur Froelich. The mid-century modern home covers 7,300 square feet. Full Story: Forbes (tiered subscription model) (4/27)

News from NAR

Retraction from REALTOR® Magazine As the official publication of the National Association of REALTORS®, we at REALTOR® Magazine always strive to communicate the vital role, integrity and value of real estate professionals in property ownership. Regrettably, we failed our mission and you in the spring issue of the magazine, which included a photo depicting a For Sale By Owner sign with the article "Multigenerational Housing: Making It a Norm." This was an error, and we are deeply remorseful for any harm, frustration or distress it may have caused. The photo was inappropriate and does not support the profession nor in any way reflect our beliefs and the merits of the hard, fulfilling work you do on behalf of your clients every day. We take this matter seriously and have put measures in place to ensure this never happens again. We are committed to doing better. Please accept our sincerest apologies and know it is always our intention to demonstrate the utmost respect and deference to you, what you do and what it means to be a REALTOR® and member of the National Association of REALTORS®. You can find the corrected article page here.

Fair & Equitable Housing

A lifetime of leadership on equality NAR Fair Housing Champion Frank J. Williams of Chicago has been a fierce advocate for legislation that expands housing opportunity and promotes a level playing field. Full Story: REALTOR® Magazine (4/25)

R.I. bill encourages housing conversions A bill passed by Rhode Island representatives would eliminate the need to seek zoning approval for projects that convert commercial real estate into housing. Reviews and permits would still be required, but the bill also bars local governments from requiring more than one parking space per housing unit while allowing construction of more units if affordable housing is included. Full Story: The Associated Press (4/26)

Legislation & Regulation

US GDP growth falls to 1.1% in Q1 The U.S. economy experienced a sharp slowdown in the first quarter of 2023, with a growth rate of 1.1% recorded on an annualized basis compared to economists' expectations of 2%, as the Federal Reserve continued its monetary tightening efforts. Despite this slowdown, the U.S. economy demonstrated resilience with some pockets of strength, including modest consumption growth that countered the negative effect of declining inventories. Full Story: Bloomberg (4/27), The Wall Street Journal (4/27), Financial Times (4/27)

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About The National Association of REALTORS®

The National Association of REALTORS® is America's largest trade association, representing more than 1.5 million members involved in all aspects of the residential and commercial real estate industries. REALTOR® Magazine is the official magazine of NAR, bringing expert insight to real estate trends, tools, and business strategies.

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