Over the last few years it has been an extreme seller’s market characterized by low inventory and rising home prices. Home sellers have been in the drivers seat.

Most homes listed for sale have experienced bidding wars with sales prices ending up far over the asking price. It has been the ultimate nirvana for home sellers. Not so much for home buyers who have seen their dream home become more and more expensive.

Home buyers have been afforded the luxury of ultra-low interest rates, so some of the pain of high home prices has been absorbed by such attractive mortgage rates.

In real estate all good things eventually come to an end. Markets eventually shift one way or another.

Unfortunately, mortgage rates have risen now to the point where some buyers have been locked out of the market.

Prominent investors descended on Inman CEO Connect in Las Vegas to discuss recent volatility in real estate tech company values.

Raji Subramanian previously led teams at Amazon and Yahoo and went to Opendoor after a 2021 acquisition. She brings a wealth of knowledge, experience and leadership, the company says.

Rob Greyber, the former head of Expedia subsidiary Egencia, will lead the vacation rental platform starting Sept. 6. He replaces Matt Roberts as CEO.

Whether it's a carefully preserved showplace or a money pit, a historic property can offer a once-in-a-lifetime opportunity for the right buyer. Team leader Carl Medford offers his personal perspective based on his historic homeownership journey.

At Inman Connect Las Vegas, John Paasonen of Maxwell and Robert Foos of Knock said agents and buyers have an opportunity to be selective in the current market when it comes to financing.

Eligible borrowers will be able to close on a winning bid with the same cash to close, monthly payment and interest rate — even if the appraisal comes in low.

On the last day of its annual training conference, Keller Williams launched the new tagline to celebrate the efforts of its agents and tout the strength of its tech, training and coaching suite.

Pending transactions were down 19.9 percent year over year, but just 1 percent month over month, according to data released Wednesday by the National Association of Realtors.

Going to a public gym has become unpopular in the past couple of years due to the impact of COVID-19 and related restrictions. If in 2019, the market size of the gym, health, and fitness club industry in the United States was $39.9 billion, in 2021, it decreased to $35.3 billion. However, Statista predicts that the market will recover in 2022, reaching $36.6 billion by the end of the year. 

Woman Exercising On Treadmill Wearing Wireless Earphones And Smart Watch Checking Mobile Phone

People will likely return to their fitness routines and gyms in the following months, but the frugal ones will probably invest in a smart home gym rather than paying for a public boutique or high-end gym. 

Strong Home Gym published research showing the average gym membership cost for 22 different gyms in the US. Among them are Lifetime Fitness, YMCA, 24-Hour Fitness, Anytime Fitness, Youfit, Planet Fitness, CrossFit, and Rumble. Here are their results:

These membership fees vary because of location, equipment available, and other gym services and facilities available for members. If you enjoy exercising regularly, like three-four times a week, or every day, a gym membership is worth it. But if the venue is not close to home, it will also cost you time and transportation. Plus, you will need to buy apparel. If you also consider that you will not spend as much time with your family as you could exercising at home, investing in a home gym makes sense. 

During COVID-19 lockdowns, when gyms were shut, many people worldwide trained at home with weights, fitness gear (exercise bikes, ellipticals, treadmills, etc.), and YouTube videos instead of personal trainers. As a result, building a smart home gym became a trend. And providers of smart technology for home gyms took advantage of the trend. 

‘Very few real bargains are left’ in the historic city, where home prices have risen as much as 10 percent since the peak of the pandemic.

Mortgage repayments have risen by an average of 54% compared to the previous year, according to the National Association of Realtor’s June Housing Affordability Index. Meanwhile, household incomes have only increased by 5.8% over the same period.

What that means is that housing affordability is now at its weakest level in 33 years, the NAR says. Median home prices have risen to a record-breaking $413,800, a pace that “far exceeds wage gains, especially for low- and middle-income workers,” said NAR Chief Economist Lawrence Yun.

The NAR’s data shows that home affordability took a massive hit in the second quarter. The average monthly mortgage repayment on a median single-family home has jumped by almost a third during that period, compared with the first quarter. Meanwhile, the 30-year fixed-rate mortgage has almost doubled in the last year.

In June, the NAR’s data shows that the average monthly mortgage repayment was $1,944, up from just $1,265 a year before. That’s an extra $679 per month that households have to come up with. As a percentage of incomes, mortgage repayments now account for 25.4%. Financial experts generally agree that if a housing repayment exceeds 25% of someone’s income, then it is considered “unaffordable”.

“Monthly mortgage payments have soared compared to last year, and rising home prices are not helping affordability conditions,” said Michael Hyman, a research data specialist at NAR, in the association’s Economists’ Outlook blog. “One good sign for the housing market is a welcome increase in the supply of inventory. Another is that rates recently have cooled, slowing the pace of growing monthly mortgage payments.”

Applications for government-backed purchase mortgages were up 4 percent week over week, accounting for nearly 1 in 4 loan requests from homebuyers, according to the Mortgage Bankers Association.

This Monmouth County borough on the Raritan Bayshore may feel like a ‘step back in time,’ but it’s looking to the future with new development.

This Monmouth County borough on the Raritan Bayshore may feel like a ‘step back in time,’ but it’s looking to the future with new development.

A midcentury-modern house in Oklahoma City, a 1923 Colonial Revival home in Montclair and a three-bedroom bungalow in St. Augustine.

The brokerage has grown rapidly thanks to generous handouts of cash and stocks to newly onboarded real estate agents. But amid leaner times, those perks are going away.

Remember your most miserable client? To avoid repeating that experience, trainer and author Bernice Ross suggests reverse-engineering it so that you don't attract someone similar.

As we enter this new chapter of real estate together, one message was clear at Inman Luxury Connect — nurturing great relationships founded on trust and honesty is going to help agents set themselves up for success.

This week: Whether it was user error or a glitch in the matrix, tell us about a time tech totally screwed you over.