Starter Homes Get Cheaper, But Is Anyone Actually Buying?

this Week in Real Estate

In this week’s episode, we dive into a whirlwind of real estate news, starting with REcolorado’s big move to cut ties with Realtor organizations after being sold to a private buyer. What impact will this have on the MLS landscape? We also cover NAR’s standoff over its controversial Clear Cooperation policy, as revealed by an eye-opening Inman survey. And in breaking news, NAR’s Chief Legal Officer Katie Johnson is stepping down—what does this mean for the future of the organization?

A law professor is shaking things up with a contract designed specifically with buyers' interests in mind—could this change the way we negotiate home purchases? And good news for first-time buyers: buying a starter home is now cheaper than it was a year ago! Plus, we’re seeing signs of market activity picking up, as mortgage demand shoots up and home tours hit their highest levels since May.

However, don’t get too comfortable—mortgage rates are unlikely to drop much further, even with the Fed’s upcoming rate cuts. Meanwhile, refinance demand has taken a step back after a minor bump in rates. With only 2.5% of U.S. homes changing hands this year—the lowest in decades—what does this signal for the market?

We’ll also explore why newly built apartments are filling up, but at a slower pace, and why asking rents for new units have dropped 6%, their lowest since 2022. Finally, Walmart is making headlines with a groundbreaking 8,000-square-foot building for 3D printing. Could this be a game-changer for construction?

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