NCJAR News
With the September 30, 2023 deadline looming, the possibility of a government shutdown due to a lack of consensus on a Continuing Resolution (CR) is a source of concern. The real estate industry, closely intertwined with federal programs, faces potential disruption, particularly in areas such as housing and mortgages. While essential services like the post office will continue, certain critical programs are at risk. Here, we provide a brief overview of the situation and highlight the ongoing efforts of the National Association of Realtors (NAR) to assess the impact on its members and their businesses.
For more resources and information, please read more from NAR https://www.nar.realtor/advocacy/what-a-government-shutdown-means-for-realtors.
Questions:
Calling all real estate enthusiasts! Save the date – September 28, 2023, at 10 AM EST – for an exclusive virtual journey to Portugal's real estate scene.
What to Expect:
- Investment Insights: Discover Portugal's investment opportunities, prime locations, and property types for high returns.
- Trends & Dynamics: Stay updated with the latest market trends and understand the legal aspects of property ownership in Portugal.
- Meet the Experts: Benefit from the expertise of Portugal International Realty (PIR) and Portuguese Real Estate Professionals and Brokers Association (APEMIP).
- Interactive Q&A: Get answers to your burning questions about investing in Portugal.
Higher mortgage rates, along with elevated sales prices and a lack of housing inventory, have continued to impact market activity during the summer homebuying season. The average 30-year fixed-rate mortgage has remained above 6.5% since May, recently hitting a two-decade high in August, according to Freddie Mac. As a result, existing-home sales have continued to slow nationwide, dropping 2.2% month-over-month as of last measure, with sales down 16.6% compared to the same time last year, according to the National Association of REALTORS® (NAR).
- Single Family Closed Sales were down 30.2 percent to 1,744.
- Townhouse-Condo Closed Sales were down 34.9 percent to 408.
- Adult Communities Closed Sales were down 16.4 percent to 56.
Get ready for an exclusive deal! The CE Shop is offering a massive 40% discount on all real estate and mortgage products for TWO days ONLY: