Looking to Buy Property? A REALTOR® Can Represent Your Best Interests

2024-03-26T13:18:43-05:00

When you’re ready to purchase a home, working with a professional can help you meet your goals. There are many different compensation models that real estate brokers may use, so be sure to consider the services you need when selecting a broker to represent you. How Can a REALTOR® Help With Your Real Estate Investment? Your REALTOR® will represent your best interests. Buyer’s agents have a fiduciary duty to the buyer rather than the seller. Buyer’s representatives can help you find properties that match your needs and provide data about the market to help you assess property value. Your REALTOR® can assist in submitting offers, negotiating on your behalf, and navigating the dozens of details required to bring a complex transaction to a successful close. How Are Real Estate Buyer Representatives Compensated? Compensation for real estate services is negotiable between agents and their clients. Many real estate brokers who represent sellers offer to compensate the buyers’ representatives for helping to successfully sell the property. Buyers benefit from this arrangement because they can receive professional representation even when they don’t have the financial ability to pay for services directly. When hiring a REALTOR®, you can discuss what services you need and how compensation will work. What Are the Disadvantages of Purchasing Real Estate Without a REALTOR®? Buyer’s agents protect the interests of their clients. Your REALTOR® can help you submit offers, navigate complex transactions, identify down-payment programs, negotiate on your behalf, and talk to you about other professionals you may need during a real estate purchase. Nine out of 10 homebuyers and sellers say they would work with their REALTOR® again, which speaks to the valuable role REALTORS® play. The changes within the NAR settlement present greater opportunities for REALTORS® to communicate the value and services that will be provided.

Looking to Buy Property? A REALTOR® Can Represent Your Best Interests2024-03-26T13:18:43-05:00

NAHB Honors Jerry Howard with National Housing Center Award

2024-03-26T13:18:45-05:00

Former NAHB CEO and President Jerry Howard was recently honored for his contributions to the housing industry prior to the International Builders’ Show on February 24 in Las Vegas. Howard was installed to the National Housing Hall of Fame during a special induction ceremony following the NAHB Board of Directors meeting.

NAHB Honors Jerry Howard with National Housing Center Award2024-03-26T13:18:45-05:00

New Home Sales Hold Steady in February

2024-03-25T10:18:37-05:00

Sales of newly built, single-family homes in February edged 0.3% lower to a 662,000 seasonally adjusted annual rate, according to newly released data by the U.S. Department of Housing and Urban Development and the U.S. Census Bureau. The pace of new home sales in February is up 5.9% from a year earlier.

New Home Sales Hold Steady in February2024-03-25T10:18:37-05:00

State Level Employment Situation: February 2024

2024-03-22T13:14:35-05:00

Nonfarm payroll employment increased in 43 states and the District of Columbia in February compared to the previous month, while seven states saw a decrease. According to the Bureau of Labor Statistics, nationwide total nonfarm payroll employment increased by 275,000 in February, following a gain of 229,000 jobs in January . On a month-over-month basis, employment data was most favorable in Texas, which added 49,800 jobs, followed by Illinois (+23,100), and then Michigan (+15,200). A total of 15,700 jobs were lost across seven states, with Florida reporting the steepest job losses at 5,500. In percentage terms, employment in Iowa increased the highest at 0.7%, while North Dakota saw the biggest decline at 0.2% between January and February. Year-over-year ending in February, 2.7 million jobs have been added to the labor market. Except for Oregon, all other states and the District of Columbia added jobs compared to a year ago. The range of job gains spanned from 500 jobs in Hawaii to 291,400 jobs in Texas. Conversely, Oregon lost a total of 1,900 jobs on a year-over-year basis. In percentage terms, Nevada reported the highest increase at 3.4%, while Oregon showed the largest decrease at 0.1% compared to a year ago. Across the nation, construction sector jobs data[1]—which includes both residential and non-residential construction— showed that 31 states reported an increase in February compared to January, while 17 states lost construction sector jobs. The remaining three, South Carolina, Vermont, and the District of Columbia reported no change on a month-over-month basis. Texas, with the highest increase, added 7,800 construction jobs, while California, on the other end of the spectrum, lost 9,600 jobs. Overall, the construction industry added a net 23,000 jobs in February compared to the previous month. In percentage terms, Alaska reported the highest increase at 4.9% and Minnesota reported the largest decline at 2.3%. Year-over-year, construction sector jobs in the U.S. increased by 215,000, which is a 2.7% increase compared to the February 2023 level. Texas added 32,200 jobs, which was the largest gain of any state, while New York lost 19,000 construction sector jobs. In percentage terms, Alaska had the highest annual growth rate in the construction sector at 15.6%. Over this period, North Dakota reported the largest decline of 5.7%. [1] For this analysis, BLS combined employment totals for mining, logging, and construction are treated as construction employment for the District of Columbia, Delaware, and Hawaii.

State Level Employment Situation: February 20242024-03-22T13:14:35-05:00

House Approves Legislation to Expedite Federal Permitting Process

2024-03-22T11:14:22-05:00

The House has approved NAHB-supported legislation that includes several amendments to the Clean Water Act (CWA) permitting process that will provide home builders needed clarity and confidence as they seek federal permits for home building and development projects.

House Approves Legislation to Expedite Federal Permitting Process2024-03-22T11:14:22-05:00

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