The following are brief highlights from this week's report:
Pending home sales continued to ascend in June, sustaining two consecutive months of increases in contract activity. The Pending Home Sales Index (PHSI) rose 16.6 percent in June, with each of the four major regions experiencing growth in month-over-month pending home sales transactions.
NAR's Weekly Housing Market Monitor shows that while the residential market appears to be bouncing back, commercial real estate has been impacted considerably by the pandemic, as evidenced by commercial market trends and consumer activity.
In other Washington news, deadlines for PPP and PUA are quickly approaching; lenders will start processing loan forgiveness applications on August 10; NAR-championed provisions on fair housing and housing counseling are included in the THUD funding bill; presumptive Democratic presidential nominee Joe Biden promised to undo President Trump's Affirmatively Furthering Fair Housing rule change that NAR opposed; and more.
Stabilizing and Revitalizing Neighborhoods in the COVID-19 Era, a new webinar series beginning August 11, will explore the roles of REALTORS® as partners with local government to prevent property vacancy and abandonment as communities develop strategies to navigate the aftermath of COVID-19.
The Center for REALTOR® Financial Wellness will offer a webinar called "Building a Better Banking Relationship" on Wednesday, August 5 at 2 PM EDT. Register here to join this discussion on building a strong relationship with your financial institution or private banker.
NAR Vice President of Demographics and Behavioral Insights Dr. Jessica Lautz released a special video message titled "A 2020 Member Profile & Market Recovery Survey." Please watch her latest video here.
In keeping with our Core Value of "Members First," NAR has released "Coronavirus: A Guide for REALTORS®" online to provide guidance to members on some common transactional issues due to COVID-19, including open house guidance. The guide is updated frequently; please find it here.
The Member Hotline is available. Please call our hotline at 1-800-874-6500 to be connected to a Member Support Representative who can assist with your questions and concerns related to COVID-19. See below for more information.