Real Estate News 10/23/2024

Today’s News Synopsis:

Existing-home sales drew back in September, according to the National Association of REALTORS®. Three out of four major U.S. regions registered sales declines while the West experienced a sales bounce. Year-over-year, sales fell in three regions but grew in the West.

In The News:

NAR – “Existing-Home Sales Slid 1.0% in September“ (10-23-2024)

“Trump and Vice President Harris are making bold proposals beyond those expirations, and the tax code could look substantially different in the coming years than how it looks now.”

Yahoo Finance – “California’s Prop 33 explained: Rent control measure and its impact on renters, landlords“ (10-09-24)

“Proposition 33 addresses rent control in California – or at least how much authority local government has over rent control.”

Redfin –  “Nearly 1 in 5 People Have Gotten in a Disagreement With a Neighbor Over Politics: Redfin Survey” (10-23-2024)

“Nearly one in five (18.7%) people have gotten in a disagreement with a neighbor over politics, with men more than twice as likely to get into a dispute than women.”

Zillow –  “Mortgage Rate Dip Brings Buyers and Sellers Back (September 2024 Market Report)“ (10-15-24)

“Lower mortgage rates brought both buyers and sellers back to the market in September, proving their readiness to return when conditions are right. New listings and sales both moved closer to pre-pandemic norms.”

HousingWire –  “Mortgage applications nosedive 17%” (10-16-24)

“Mortgage applications decreased 17% from one week earlier as mortgage rates surged, according to data from the Mortgage Bankers Association’s (MBA) weekly application survey for the week ending October 11, 2024.”