Real Estate News 03/07/2025

Today’s News Synopsis:

In The News:

NAR – “Existing-Home Sales Fall 4.9% in January 2025 After Three Months of Gains” (03-05-25)

“NAR released a summary of existing-home sales data showing that housing market activity this January declined 4.9% from December 2024.“

Yahoo Finance – “US Mortgage Rates Near Three-Month Low in Boost to Demand” (03-05-2025)

“US mortgage rates declined last week to an almost three-month low, sparking lending activity for home refinancing and purchases in a welcome sign for the struggling housing market.”

Bloomberg –  “Trump Administration Plans to Eliminate Dozens of Housing Offices” (03-06-25)

“A looming reorganization of HUD would leave 34 states without offices that process mortgage insurance, despite a law requiring offices in every state.”

CBS News – “Mortgage rates keep falling. Is now the time to buy a home?” (03-06-25)

“The spring has traditionally been a popular time for homebuyers and sellers. With warmer weather comes greater curb appeal and, thus, a natural opening to sell a home. By purchasing a house now, buyers can also potentially close on the property and move in well before the start of the fall school season. ”

Redfin – “What is a Planned Unit Development (PUD)?” (03-04-25)

“There are many types of residential buildings on the market – from single-family homes and townhomes to condos and co-ops. One of the lesser known types is a Planned Unit Development (PUD). And the lines between condos, townhomes, co-ops and planned unit developments (PUD) can get blurry.”