Latest real estate news today

Here are some of the latest real estate news updates:

1. Housing Market Trends:

• According to the National Association of Realtors (NAR), existing home sales in the US increased by 1.3% in February, beating expectations. (Source: NAR)
• The median existing-home price rose to $270,000, up 8.2% from last year. (Source: NAR)

2. Interest Rates:

• The Federal Reserve kept interest rates unchanged, citing a strong economy and low inflation. (Source: Federal Reserve)
• Mortgage rates have been trending downward, with the average 30-year fixed rate now at 3.45%. (Source: Freddie Mac)

3. New Home Construction:

• US new home construction rose to a 13-year high in February, with a seasonally adjusted annual rate of 1.33 million. (Source: US Census Bureau)
• The National Association of Home Builders (NAHB) reported that builder confidence in the market for newly built single-family homes rose to its highest level since 1999. (Source: NAHB)

4. Luxury Real Estate:

• The luxury real estate market is experiencing a resurgence, with high-end properties selling quickly and at premium prices. (Source: Luxury Real Estate Magazine)
• The top 10 most expensive homes sold in the US in 2022 included a $250 million estate in Los Angeles and a $120 million mansion in New York City. (Source: Forbes)

5. Zillow's Latest Insights:

• Zillow's latest report found that the US housing market is experiencing a "seller's market," with homes selling quickly and at high prices. (Source: Zillow)
• The report also noted that the number of homes for sale is at a 10-year low, with inventory levels down 14% from last year. (Source: Zillow)

6. Real Estate Technology:

• Real estate technology companies are experiencing significant growth, with investments reaching $12.6 billion in 2022. (Source: Real Estate Tech News)
• The use of virtual and augmented reality in real estate is becoming more popular, with companies like Zillow and Realtor.com incorporating these technologies into their platforms. (Source: Inman)

7. Government Policies:

• The Biden administration is proposing a new tax credit for first-time homebuyers, aimed at increasing affordability and promoting homeownership. (Source: The White House)
• The Federal Housing Administration (FHA) is increasing its loan limits for 2023, allowing more borrowers to qualify for FHA-insured mortgages. (Source: FHA)

These are just a few of the latest real estate news updates. If you're interested in staying up-to-date on the latest trends and developments, I recommend following reputable sources like the National Association of Realtors, Zillow, and Inman.