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Existing-Home Sales Decreased 5.5% in October, According to NAR Report
“Home buying is difficult when mortgage rates have climbed to their highest levels since 2000, aside from a single month in 2023. As a result, home sales fell to their lowest level since August 2010,” said NAR Chief Economist Lawrence Yun.
Mortgage Applications Increase in Latest MBA Weekly Survey
“Mortgage rates declined for the fourth straight week, with the 30-year fixed rate dropping to 7.21 percent, the lowest rate since mid-September. Moreover, the FHA rate was back below 7 percent and was more than 20 basis points lower than the conforming rate, which helped first-time home buyers currently in the market,” said Joel Kan, CMB, MBA’s Vice President and Deputy Chief Economist.
TrueFocus Automation's Security Controls Verified by Successful SOC 2 Type 2 Audit
TrueFocus Automation builds software bots that take on repetitive tasks for title agencies, lenders and real estate companies, from order intake through post-closing audits. “Title agencies and lenders count on us to support their teams every day, and they have every right to expect that we hold ourselves to the same security standards they do,” said Jimmy Lewis, Co-Founder and CEO of TrueFocus Automation.
Remodeling Activity Holds Flat in Second Quarter Amid Housing Slowdown
“Rising construction costs and weak consumer sentiment are weighing on projects and keeping spending flat, but the remodeling sector has solid long-term growth potential,” said NAHB Remodelers Chairman Elliott Pike, a remodeler from Homewood, Ala. “An aging housing stock, the mortgage rate lock-in effect, home equity gains and more home owners choosing to age in place will support future growth.”
First-Time Home Buyer Share Inches Up to 22%, Median Age Remains at Record High of 40
“Affordability remains the biggest hurdle for first-time buyers,” said Jessica Lautz, NAR deputy chief economist and vice president of research. “The share of first-time buyers is still about half the historical norm of 40% seen before 2008, and those saving on their own continue to face high rent, student debt, and a shortage of homes they can afford.”

NAR's Yun: Significant Pent-Up Housing Demand Could Be Released as Supply, Affordability and Confidence Improve
Yun compared today’s economy with the year 2000. Since then, the U.S. population has grown from 281 million to 350 million, and payroll jobs have risen from 132 million to 159 million. Housing wealth has grown from $7 trillion to $35 trillion. Yet existing-home sales are running near 4 million this year, below the 5.2 million homes sold in 2000.
Multifamily Developer Confidence Weakens in Third Quarter
“Developer sentiment about new multifamily production has definitely softened, due to challenges such as rising interest rates, construction costs that are high relative to rents, and problems getting projects approved and connected to roads and utilities,” said Kip Lewis, director of construction management at OCCH in Columbus, Ohio, and chairman of NAHB’s Multifamily Council. “As a result, many projects are taking longer to complete.”
Mortgage Applications Decrease in Latest MBA Weekly Survey
“Mortgage rates drifted down to their lowest level since September 2026 last week in the wake of the Federal Reserve’s decision to hold on additional rate hikes at its October meeting,” said Mike Fratantoni, MBA’s SVP and Chief Economist. “While the 30-year rate declined to 7.3 percent, activity is still quite slow, with purchase application volume down for the week and refinance volume effectively flat at a very low level."
Industrial Employment Drives Shifts in Commercial Real Estate Demand, According to NAR Report
"The story this quarter is where companies are hiring," said Nadia Evangelou, Principal Economist & Director of Real Estate Research at NAR. "While industrial employment has been relatively flat nationally, some markets are adding jobs much faster than others. San Antonio is a good example, moving from 76th to 9th in just one year."
MBA RIHA Study Finds Rental Affordability Declined in 82% of U.S. Metro Areas, While Housing Quality Explains Up to Half of Rising Rental Costs
“Rental affordability remains a significant challenge in many housing markets, but this research demonstrates that the factors driving higher rental expenditures are more complex than traditional measures suggest,” said Edward Seiler, MBA's Associate Vice President of Housing Economics and Executive Director of RIHA.
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