The NAHB/Wells Fargo Housing Market Index slid a point to 32, reflecting ongoing negative sentiment in the homebuilding industry. 

The gain in the average buyer’s agent commission is the third quarterly increase since the National Association of REALTORS® changed its commission rules last August. 

NAR’s report — which surveyed nearly 5,000 Realtor members — also found that the typical agent took on 10 transactions in 2024, the same as a year prior.

As the spring homebuying season ended, U.S. home price growth softened significantly, opening the door to improved affordability.

Home-purchase activity remained elevated from 2024, but a cloudy economic outlook has deterred some would-be homebuyers. 

After years of fast-paced home sales, tight inventory and relentless price growth, the U.S. housing market may finally be entering a new chapter.

The law helps delinquent VA borrowers and allows them to pay buyer-agent commissions when house shopping. 

Geographically, the only region to post a monthly increase in pending sales was the Northeast, where they rose 2.1%, according to NAR’s Pending Home Sales Index.

Nationally, the pace of home-price appreciation declined to its slowest pace in almost two years, according to the S&P CoreLogic Case-Shiller U.S. National Home Price Index. 

Real estate economist Matthew Gardner joins Agent Publishing Co-Publisher Anne Hartnett to unpack the biggest housing trends from the second quarter, plus the potential impact of a new Fed chair and the future of Fannie Mae and Freddie Mac.

The inventory of new homes for sale surged year over year, according to the U.S. Census Bureau and the U.S. Department of Housing and Urban Development.    

At the same time, the pace of existing-home sales declined from May’s level. 

New single-family home construction declined as builders continue to grapple with macroeconomic headwinds. 

“Following the tragic floods in Texas, we at the National Association of REALTORS® and the Realtors Relief Foundation are heartbroken at the lives lost and the communities devastated,” said RRF President Greg Hrabcak.

Texas transactions made up 10% of all international home purchases this past year, according to a report from the National Association of REALTORS®.

Purchase applications slowed to their lowest level since May as economic worries dampened activity, the Mortgage Bankers Association said.