New-home costs rising at unparalleled rate

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New-home costs rising at unparalleled rate | Growing a successful, locally focused brokerage | Homes & Gardens offers tips for kitchen color selection

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June 30, 2022

Top News

New-home costs rising at unparalleled rate They've jumped 42% over the last three years, data shows. What are builders doing to bring some relief to the market? Full Story: REALTOR® Magazine (6/30)

Best Practices in Sales & Marketing

Growing a successful, locally focused brokerage Expanding your company's market reach requires more than just acquiring or merging with other real estate firms. Opt for smart, calculated growth to ensure the health of your business. Full Story: REALTOR® Magazine (6/29)

Homes & Gardens offers tips for kitchen color selection Homes & Gardens offers this curated collection showcasing how to select colors for neutral kitchens, noting that the kitchen is "now a multi-purpose room designed as much for living as it is for cooking." Full Story: Homes & Gardens (6/29)

	Introducing the Tenacious 30 More than 300 young real estate practitioners applied for 30 Under 30 this year. Meet the entrepreneurs who were selected and read their profiles to learn how they have succeeded in this special digital edition of REALTOR® Magazine, sponsored by BidMyListing.

Real Estate Trends

Housing supply fundamentals continue to favor sellers Experts say a supply shortage is the primary cause of increasing real estate costs, though investors have played a role in boosting demand. Investor buying activity has risen in 2022, according to a review of CoreLogic data by the Harvard Joint Center for Housing Studies. Full Story: Fast Company (tiered subscription model) (6/29)

Rate hikes threaten some closings Although some properties have been receiving multiple bids, rising interest rates are changing the landscape and threatening to undo deals home buyers have made with new-home builders. Some buyers with signed contracts are facing trouble obtaining mortgages amid construction delays due to supply and labor shortages. Full Story: National Public Radio (6/29)

Rising interest rates affect buyers' purchasing options Increasing interest rates have significantly reduced home buyers' purchasing, according to a Redfin study. "Many house hunters now need to consider smaller homes—perhaps farther from their ideal neighborhood—or stick to renting if they're priced out of the market altogether," says Daryl Fairweather, chief economist at Redfin. Full Story: CNBC (6/28)

News from NAR

NAR earns Green Business Bureau's platinum certification for sustainability Only one in five companies meet the requirements that the association did to win the GBB's highest award. Full Story: REALTOR® Magazine (6/29)

Homeownership Month highlights triumphs, challenges While some aspiring home buyers are still finding a pathway to ownership in this tough market, NAR CEO Bob Goldberg writes in The American Genius that "becoming a homeowner shouldn't feel like such an extraordinary, exclusive achievement." Full Story: The American Genius (6/27)

Fair & Equitable Housing

Commentary: Business community should advocate for affordable housing NHP Foundation CEO Richard Burns offers advice on how the business community can work with policymakers to advance affordable housing, citing the effectiveness of the Low-Income Housing Tax Credit. "All of us need to become knowledgeable advocates and raise our voices to address the dire shortage of affordable housing," Burns writes. Full Story: Forbes (tiered subscription model) (6/28)

Despite improvements, racial disparity persists among Massachusetts buyers Black and Latino households in Massachusetts increased homebuying activity in 2020 with a record number of mortgages received, though this did not translate into geographic diversification. "Our analysis shows a homeownership market in Massachusetts that, while serving more home buyers of color than ever before, is still not closing the wide racial homeownership gap in the Commonwealth," said Carrie Bernstein of the UMass Donahue Institute. Full Story: The Boston Globe (tiered subscription model) (6/29)

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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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