article thumbnail

Existing-home sales take a sleigh ride to the sky with highest jump since 2021

Housing Wire

The National Association of Realtors (NAR) reported that existing-home sales in November rose to a seasonally adjusted annual rate of 4.15 The jump in sales gives the market momentum heading into 2025, which is expected to outperform 2024. The growth also bucks the historic trend of sales dropping between October and November.

Sales 459
article thumbnail

Surging for-sale inventory turns Florida into a buyer’s market

Housing Wire

According to a report from Redfin, for-sale inventory at the end of January in Florida was up 22.7% Active listings landed at 212,437 at the end of January, a staggering 19.4% With this many houses for sale, a home basically needs to look like its out of a magazineand be priced fairlyto get multiple offers. year over year.

Sales 377
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Keller Williams lands new affiliate in Illinois

Housing Wire

According to a news release, PRG Group sold 277 units in 2024, generating $130 million in sales volume. PRG Group, which was doing business as Realty Executives Premiere , was a franchisee of Wheaton, Illinois-based Realty Executives International.

Land 352
article thumbnail

The Federal Reserve’s housing recession dilemma

Housing Wire

The existing home sales market does not align with their dual mandate of ensuring stable personal consumption expenditures (PCE) or consumer price index (CPI) prices, as these measures account for rent. Instead, the existing home sales market is more about transferring commissions rather than causing significant job losses in the economy.

article thumbnail

Texas State Senate approves limitations on land sales to China, Russia

Housing Wire

The Texas State Senate this week approved a bill that would limit the sale of its farmland to individuals and organizations associated with the governments of China, Iran, North Korea and Russia. That proposal received support and an intent to sign it into law from Gov.

Land 418
article thumbnail

Land sales volume remains high, but slower than pandemic peak

Housing Wire

Land sales volume continued to exceed the five-year average of $650 million in gross sales during the first six months of 2023, but gross sales are off from the record-setting pace of 2021 and 2022, according to Farmers National Company mid-year land values report , released Tuesday.

Land 370
article thumbnail

Why title insurance is essential to the U.S. system of property rights

Housing Wire

By contrast, many European countries have a centralized, government-managed land registration system, which requires government review before property transfers are effective. Once the parties have closed, it is only then that we place the transfer document (deed) in the government land records. Nor are the land records authoritative.

Title 418