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Category: Industry News
Industry News
NWMLS revises, clarifies various forms
Northwest Multiple Listing Service revised several forms and unveiled various new forms on March 3. In some cases, MLS officials said there are significant revisions, while in other cases the revisions include minor clarifications and updates to outdated vernacular. Documents with significant revisions include the Purchase and Sale Agreements, the [..]
Industry News
Risk fund manager explains why US housing “is smashing every record in the books”
Stephen McBride Calling it one of the greatest comebacks in American history, professional fund manager Stephen McBride contrasted the current booming housing market with the downturn from 2006 to 2009. The crisis was devastating to millionaires and millennials alike who could not get mortgages. The housing bust of 2006-2009 “shattered [..]
Industry News
Walla Walla Realtors join Northwest MLS to further enhance tools and services
The Walla Walla Association of Realtors® voted to merge its multiple listing service with Northwest Multiple Listing Service (NWMLS), based in Kirkland. With the addition of Walla Walla and Columbia counties, NWMLS expands its service area to 26 counties across Washington and adds a service center within the Realtor office [..]
Industry News
“Black tax” constrains wealth accumulation, homeownership opportunities
Black households are unable to accumulate housing wealth at the same rate as white households due to a combination of income gaps, a “Black tax,” and other factors that unfairly raise the cost of homeownership for African Americans, according to a report from a trio of authors. In a paper [..]
Industry News
More adults considering home purchase as builders find shifting interest in new versus existing homes
More adults were considering a home purchase in the fourth quarter of 2020 than the same period the previous year. The 15% versus 11% margin was among findings in the latest Housing Trends Report from the National Association of Home Builders (NAHB). The quarterly trends report also analyzed preferences by [..]
Industry News
Builders say COVID-19 continues to influence home purchasing plans
COVID-19 continues to have an impact on home purchasing plans, according to the latest Housing Trends Report (HTR) from the National Association of Home Builders. Researchers reported the share of Americans who are considering the purchase of a home in the next 12 months was 15% in the fourth quarter [..]
Industry News
Expanding missing middle housing options a priority on Coalition’s legislative agenda
Expanding missing middle housing options, such as detached and attached accessory dwelling units and multi-unit housing options that include duplex, triplex, and fourplex homes is one of the legislative priorities this year for the Coalition for More Housing Choices. Seattle King County REALTORS® is a member of the group, which [..]
Industry News
Housing sector called an economic bright spot
Recent expansions in housing activity have increased its share of gross domestic product (GDP) to near historic norms, according to research by the National Association of Homebuilders (NAHB). Low mortgage interest rates, a renewed focus on the importance of home, an evolving geography of housing demand, and a lack of [..]
Industry News
New Seattle “payroll expense” tax includes real estate brokerage firms
In July of 2020, the Seattle City Council approved a “payroll expense” tax on businesses in Seattle with annual payrolls in excess of $7 million. The objective of the tax was to have large employers, with employees who earn more than $150,000 per year, pay more to the city to [..]