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While the Federal Housing Administration has loosened its condominium approval requirements in recent years, many properties continue to struggle to meet overly stringent criteria and the majority of properties are being denied.
While the overall commercial sector appears to be improving, Chief Economist Lawrence Yun said this isn’t the case in all parts of the market.
The Federal Housing Administration is at a critical crossroads, but with the best performing books of business in its 80-year history, FHA is prepared for the future.
Lawrence Yun, chief economist of the National Association of Realtors®, said existing-home sales have shown a 20 percent cumulative increase over the past two years, while prices have gained 18 percent, but incomes have risen only 2 to 4 percent in the same timeframe.
The nation's housing markets gained traction in 2013, but lingering uncertainties will prevent a full housing market recovery, according to 2014 NAR President Steve Brown in a news conference today.
This year the National Association of Realtors® celebrates the 100th anniversary of the Realtors® Code of Ethics.
During the 2013 REALTORS® Conference & Expo in San Francisco today, the National Association of Realtors® launched a member awareness campaign and priority registration for the .Realtor top-level domain, as an alternative to the familiar and commonly used .com or .org domains.
During this year's conference, "Rise to New Heights," Realtors® will engage industry leaders and federal officials about Realtors®' top legislative priorities, the changing regulatory landscape, and the obstacles and opportunities facing consumers, real estate markets and the economy.
Realtors® joined forces with Habitat for Humanity of Greater San Francisco to help construct a multifamily housing development for low-income families in the San Francisco area.
The majority of metropolitan areas in the third quarter experienced robust year-over-year price gains, with the national median price showing the strongest annual growth in nearly eight years.