Existing-home sales rose 2% in July as inventory reached its highest level since 2020, the National Association of REALTORS® reports. Home prices are moderating—up just 0.2% from last year—while builders and sellers are offering more concessions. For many buyers, this is the strongest negotiating position in more than five years.

The average rate on a 30-year fixed mortgage edged upward to 6.68% last week, and total application volume declined 1.4%, according to the Mortgage Bankers Association. Applications for mortgages to purchase a home gained 0.1%.

Designers predict that this fall's front porch trends will focus on sustainability and natural textures, with a base of soft neutrals accented by rich fall colors such as mocha, maroon and burnt orange. Ambient lighting and unique planters are also expected to be popular as well.

The commercial real estate market faces challenges from higher-for-longer interest rates, which create uncertainty and stall investment activity, Zelman & Associates CEO Ivy Zelman says. The bid-ask spread for transactions remains wide, and sellers are reluctant to lower prices. "The path forward ... is to plan for continued ambiguity and prioritize resilience in both asset management and investment strategy," Zelman says.

Companies are using technology such as satellites, AI and drones to detect wildfire risk and hurricane vulnerabilities. For example, Site Technologies uses drones to survey properties. "When you have hundreds or thousands of properties, it was never really a viable option to be able to get a snapshot, on an annual basis, of your facilities until technology like this," said Austin Rabine, CEO of Site Technologies, which works with real estate companies, retailers and others.

Have you ever been curious about how real estate professionals shape the work of the National Association of REALTORS®? A new resource demystifies the NAR committee structure, roles and democratic process for selecting volunteer leaders, and explains how to get involved.

Connecticut lawmakers have debated the effectiveness of the state's requirement that 10% of housing in each municipality be classified as affordable. Rep. Antonio Felipe, D-Bridgeport, has suggested expanding the types of properties considered affordable. However, Rep. Joe Zullo, R-East Haven, has argued the policy should be tailored to individual communities.