Home inspectors say they can spot the work of an amateur versus a pro.

Steve and Jessica Devore, owners of Green Acres Real Estate in Illinois, urged their son Gavin to pursue his real estate license while he was still in high school, and now the 18-year-old is a licensed REALTOR®. Gavin Devore notes that though online sites help, people still prefer real estate professionals who can show houses in person, advise clients and see them through the homebuying process.

Housing affordability is becoming a bigger obstacle in the housing market. Homes were 80% more expensive in June than they were in 2019. Read more from NAR's latest housing report.

A report highlights housing supply issues and how a multifaceted approach could be key to improving housing equity as well.

Elkhart-Goshen, Ind., has taken the top spot in the Wall Street Journal/realtor.com® Emerging Housing Markets Index with a median list price for homes of less than $280,000. Burlington, N.C., was No. 2, followed by Johnson City, Tenn.

Maine's Lake Arrowhead was the state's most competitive residential real estate market in June, according to Redfin. Homes in this village receive multiple offers, many times with contingencies waived, and new listings move to pending in five days on average.

Miami's historic Liberty Square housing project is undergoing redevelopment as a mixed-income community. Related Group and Miami-Dade County have partnered to invest $500 million to develop 1,900 housing units, approximately one-third of which are already completed.

The U.S. Treasury Department has announced a new policy permitting local jurisdictions to use coronavirus relief funds to increase affordable housing. This means that some of the $350 billion State and Local Fiscal Relief Fund can help pay for affordable housing projects, especially those that qualify for the Low-Income Housing Tax Credit.

Another large interest rate hike is expected this week as the Federal Reserve aims to quell inflation, and though Chair Jerome Powell has largely sought to present the central bank as flexible, recent comments suggest the Fed may be willing to trigger a recession to curb inflation. Market watchers are wondering how far a hawkish Fed might go as signs appear that inflation is slowing and other data points indicate a slowing economy.