Real estate market news

Here are some recent news and trends in the real estate market:

National News

• The National Association of Realtors (NAR) reported that existing home sales in the US increased by 2.5% in January 2023, with a median sales price of $357,300. (Source: NAR)
• The Federal Reserve raised interest rates by 0.25% in February 2023, which is expected to slow down the housing market. (Source: Federal Reserve)
• The US housing market is expected to slow down in 2023 due to rising interest rates and high prices, according to a report by Zillow. (Source: Zillow)

Regional News

• The California housing market is experiencing a slowdown due to high prices and interest rates, with sales declining by 10% in January 2023. (Source: California Association of Realtors)
• The New York City housing market is seeing a surge in sales, with prices increasing by 10% in January 2023. (Source: StreetEasy)
• The Texas housing market is experiencing a boom, with sales increasing by 15% in January 2023. (Source: Texas Association of Realtors)

Trends

• The rise of iBuyers (instant buyers) is changing the way people buy and sell homes, with companies like Opendoor and Zillow offering cash offers to home sellers. (Source: Forbes)
• The use of virtual tours and online listings is becoming more popular, with 75% of homebuyers using online platforms to search for homes. (Source: National Association of Realtors)
• The trend of "aging in place" is increasing, with more homeowners choosing to renovate their current homes rather than moving to a new one. (Source: AARP)

Industry News

• Zillow is expanding its iBuying business, with plans to purchase and sell thousands of homes in 2023. (Source: Zillow)
• Redfin is launching a new service called "Redfin Now," which allows homebuyers to purchase homes directly from the company. (Source: Redfin)
• Realtor.com is launching a new feature called "Realtor.com Pro," which provides real estate agents with more data and tools to help them sell homes. (Source: Realtor.com)

Economic News

• The US economy is expected to slow down in 2023 due to rising interest rates and inflation, which could impact the housing market. (Source: Bloomberg)
• The Federal Reserve is expected to raise interest rates several times in 2023 to combat inflation. (Source: Federal Reserve)
• The US unemployment rate is at a historic low, which could lead to increased demand for housing. (Source: Bureau of Labor Statistics)

I hope this information is helpful!