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Home Sales Decline Across Mid-Atlantic Region

Home Sales Decline Across Mid-Atlantic Region

by Phil Hall | Jul 10, 2024 | News/Current Events, Real Estate News, U.S. Housing Market, WRE News Exclusive

Home sales across the Mid-Atlantic region totaled 20,552 transactions in June, according to new data from Bright MLS. This represents a 3.2% decline from the previous month and a 10.4% drop from one year ago. Although fewer homes were being sold, more properties were...
Builders Ask Congress to Support Policies to Enable Affordable Housing Construction

Builders Ask Congress to Support Policies to Enable Affordable Housing Construction

by Phil Hall | Jul 10, 2024 | Industry Updates, News/Current Events, Real Estate News, U.S. Housing Market, WRE News Exclusive

The National Association of Home Builders (NAHB) called on Congress to support policies that will enable an increased level of affordable housing construction. Steve Martinez, a home builder from Boise, Idaho, testified today on behalf of NAHB during a House Small...
5-Floor NYC Penthouse Sells for $135 Million

5-Floor NYC Penthouse Sells for $135 Million

by Phil Hall | Jul 10, 2024 | News/Current Events, Real Estate News, U.S. Housing Market, WRE News Exclusive

A five-story penthouse unit in a historic Fifth Avenue building sold for $135 million, making it the most expensive residential property sale in New York City this year. Mansion Global reports the 12,500-square-foot unit is one of 22 residences located above the Aman...
New Pennsylvania Law Addresses Residential Wholesaling Abuses

New Pennsylvania Law Addresses Residential Wholesaling Abuses

by Phil Hall | Jul 10, 2024 | News/Current Events, Real Estate News, U.S. Housing Market, WRE News Exclusive

Pennsylvania Gov. Josh Shapiro has signed a new bill into law designed to protect home sellers and buyers in residential wholesaling transactions. Senate Bill 1173, which was sponsored by Republican Sens. Pat Stefano and Greg Rothman, requires anyone conducting...
Mortgage Application Activity Takes a Downturn

Mortgage Application Activity Takes a Downturn

by Phil Hall | Jul 10, 2024 | Mortgage Information, News/Current Events, Real Estate News, U.S. Housing Market, WRE News Exclusive

Mortgage application activity dipped in the latest Mortgage Bankers Association (MBA) data tracking the week ending July 5. The Market Composite Index, the MBA’s measure of mortgage loan application volume, slipped by a scant 0.2% percent on a seasonally adjusted...
The City with the Biggest Annual Rent Hike Is…

The City with the Biggest Annual Rent Hike Is…

by Phil Hall | Jul 10, 2024 | News/Current Events, Real Estate News, U.S. Housing Market, WRE News Exclusive

Connecticut’s capital city of Hartford is leading the country for rent hikes, according to new data from Zillow (NASDAQ:Z, ZG). Rents have grown 7.8% over the past year in Hartford, the greatest annual spike in any major city; the current typical rent in Hartford is...
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