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Are Mortgage Rates Crushing Buyers? Pending Sales Surge!
Manage episode 447694918 series 3067234
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This week, we dive into some of the biggest stories reshaping the real estate landscape. The Council of Multiple Listing Services (CMLS) is making waves, urging NAR to maintain the controversial Clear Cooperation policy in a new letter, claiming that weakening it could harm the integrity of the housing market. However, some local associations are still pushing back, challenging the policy as unnecessary and restrictive.
We’ll also cover Pacific Sotheby's International Realty’s recent partnership with Rechat, a move that brings cutting-edge tech to streamline agent workflows. Meanwhile, Real Brokerage’s RISE announcements signal strategic growth—what will this mean for agents and clients?
Despite mortgage rates rising again, pending home sales jumped 2.5% in September, marking the biggest monthly increase in over a year and a half. However, first-time buyers are still facing significant challenges with 30 renters for every home for sale in today’s supply-constrained market.
Home prices grew by 0.5% in September, the fastest pace since April, reflecting continued demand despite affordability pressures. As we look to 2025, new surveys highlight buyer and seller expectations and reveal that nearly a quarter of first-time buyers are delaying their purchases until after the election. Will political uncertainty drive even more market hesitation?
Join us today as we break down these key developments!
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