Services to support remote workers are in demand A survey by the John Burns Real Estate Consulting's New Home Trends Institute finds that work-from-home amenities and concierge services are what buyers and renters are seeking. "Providing remote workers the option to rent sound-proof rooms, or equipment like green screens and lighting, can give you a distinctive edge," writes Maegan Sherlock of John Burns. Full Story: GlobeSt (free registration) (6/23)
Real Estate Trends
Renters vie for homes in tight market Listing agents are advising renters to make their best offers as the US remains in a sellers market for rentals. Jessica Lautz of the National Association of REALTORS® points to the trend of "underproducing both rental units and homes for purchase for more than a decade now" as driving up rents. Full Story: National Public Radio (6/24)
Home sale timelines extend in California Real estate professionals in California are seeing signs of a cooling market as clients become more negotiable when closing deals. "Statewide homes are on the market twice as long at 26 days as they were last month," said Jordan Levine, chief economist at the California Association of REALTORS®. "We expect prices to soften. We are leaning toward a modest recession in 2023." Full Story: The Orange County Register (Anaheim, Calif.) (tiered subscription model) (6/23)
Analysis: Flippers a significant part of sales trend A report by Attom finds that home flipping is at its highest level since at least 2000, though margins are dropping slightly as interest rates rise. Phoenix and Olympia, Wash., remain hot spots for flippers, while profit margins were best in Scranton, Pa. Full Story: The Real Deal (6/23)
Technology & Innovations
Smartphones create VR home tour experience A smartphone and camera stand can enable a virtual reality experience when marketing real estate, according to experts. "The goal is for potential home buyers to feel like they're 'walking' through a property without actually being there," Erin Rodrigue writes. Full Story: HubSpot (6/23)
News from NAR
Why you need to speak up about VA loans Real estate pros can play a big role in helping veterans achieve homeownership by sharing more information about the VA Home Loan Guaranty Program and helping to dispel common myths. Full Story: REALTOR® Magazine (6/21)
Amazon funds affordable housing in Seattle Amazon plans to donate $23 million to preserve or build 568 affordable homes in Seattle via its Amazon Housing Equity Fund. Amazon is working with three local minority-led housing partners and will focus on neighborhoods with large populations of people of color. Full Story: CNBC (6/23)
Legislation & Regulation
Bowman wants Fed to cease real estate market intervention Federal Reserve Governor Michelle Bowman says taming inflation is the top priority, voicing support for continued interest-rate increases and the eventual selloff of the Fed's mortgage-backed securities. "My longer-term goal would be to get the Fed out of the business of indirectly intervening in the real estate market," Bowman said. Full Story: Reuters (6/23)
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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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