Get the insider’s angle on the industry’s latest happenings in this week’s Real Estate Roundup.
US New Home Sales Surge Unexpectedly, Hitting 10-Year High in October
Sales of U.S. single-family homes rose in October by hitting their highest level in 10 years amid demand across the country according to The Commerce Department. New home sales increased 6.3 percent to a seasonally adjusted annual rate of 685,000 units in October, which marks the third straight month that new home sales have increased.
Economy And Real Estate Are Offering Differing Signals
In a third of 320 markets across the country, job numbers increased by less than one percent in the past year. In half of these markets, income grew less than inflation. However, in two-thirds of the markets, home prices have not fully recovered from the last recession.
These Real Estate Trends Will Be Game-Changers in 2018
The Realtor.com® data team revealed the top real estate trends expected for 2018 based on data and major economic factors. Top trends include supply catching up with demand, millennials becoming homeowners, an uptick in the sales of Southern homes, and tax reform.
Bitcoin Slowly But Surely Gains Relevance in Real Estate
Bitcoin is gaining the attention of the real estate industry as several states are now changing their laws to allow the digital funds to be used to finance property transactions. The industry is beginning to use the cryptocurrency to pay for things like rent, services and entire deals.
Broker Profitability: A Glimpse Into the Future
Better Homes and Gardens Real Estate President and CEO Sherry Chris spoke at the 2017 REALTORS® Conference & Expo. At the conference, Chris lent her expert commentary on broker profitability from a 10,000-foot level.