Dave Gallagher

Bellingham

Director and News Reporting at Real Estate News

Director, news reporting, Real Estate News

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Articles

Buying optimism up as consumer anxiety eases

2 weeks ago | realestatenews.com | Dave Gallagher

After getting scared off by tariffs and economic volatility during the first few months of the year, consumers appear to be feeling a little better about the housing market. Fannie Mae's monthly Home Purchase Sentiment Index, which tracks consumer attitudes and expectations around housing, came in at 73.5 points in May, up 4.3 points from April and up 5.4 points compared to March.
How to talk with buyers about homeowners insurance

2 weeks ago | realestatenews.com | Dave Gallagher

Key points:High homeowners insurance costs can add an unwelcome surprise to the homebuying process if buyers are not prepared. Extreme weather events, inflation and strong home price appreciation are among the factors contributing to higher rates. With 80% of claims originating from roof issues, agents and buyers should pay close attention to the age and materials used for a home’s roof while considering a listing.
Sellers start holding back as market demand drags

3 weeks ago | realestatenews.com | Dave Gallagher

Key points:New listings are up, but late May saw the biggest slowdown for that time of year in a decade, a Redfin analysis found. Mortgage rates declined slightly over the last week, but high home prices and economic uncertainty remain big hurdles for buyers. Only 1.4 million mortgages were secured during the first quarter of 2025 — a large drop from the 4.2 million secured in early 2021, according to an ATTOM report.
NAR in DC: What do they want from lawmakers?

3 weeks ago | realestatenews.com | Dave Gallagher

Key points:NAR wants to juice home sales by pushing for a capital gains tax exclusion that could incentivize long-term homeowners to sell. Also on the list: Improving zoning and land-use policies and converting underused commercial buildings for residential use. Expanding fair housing protections to include LGBTQ folks remains a priority.
Combining MLS, non-MLS listings moves closer to NAR approval

3 weeks ago | realestatenews.com | Dave Gallagher

WASHINGTON, D.C. — The "no-commingling rule" that has been a touchy subject for multiple listing services and home search sites is one step closer to being a thing of the past. The Multiple Listings Issues and Policy Committee voted on June 3 to rescind the rule that recommends separating MLS and non-MLS listings.
The ‘magic bullet’ that could boost home sales

3 weeks ago | realestatenews.com | Dave Gallagher

WASHINGTON, D.C. — The National Association of Realtors' chief economist believes there's one ingredient that is holding back home sales this year — and it may be one of the toughest to nail down. During a June 3 economic forum at NAR's mid-year legislative meetings, Lawrence Yun said he's seeing signs that buyer demand is ongoing, home price growth is moderating and wage growth is outpacing inflation. However, 30-year mortgage rates continue to hover around 7% — and that is hurting the market.
NAR panel: How to encourage new housing — and homeownership

3 weeks ago | realestatenews.com | Dave Gallagher

Key points:Easing regulations to spur development was the theme of a June 2 panel discussion at NAR’s legislative meetings this week. At the local level, cities need to help homeowners understand why housing is needed. States also play a key role in moving new policies forward, panelists noted. Relaxing mortgage rules could help more people qualify for loans and give builders an incentive to serve lower-income buyers — without risking a subprime lending crisis.
At NAR meetings, internal strains find way onto DC agenda

3 weeks ago | realestatenews.com | Dave Gallagher

Key points:NAR’s 2025 Legislative Meetings kicked off Sunday with leaders addressing shrinking membership and policies on DEI and hate speech. At the general session on Monday, speakers from FOX News and CNN discussed today’s polarized environment and the loss of trust in institutions. Those topics dovetail with some of the challenges NAR has been facing following its March 2024 settlement, such as member frustration and waning trust.
A new Nosalek deal: No more offers of compensation on MLS PIN

1 month ago | realestatenews.com | Dave Gallagher

After making a key change to the terms of its settlement with Massachusetts home sellers, the one remaining defendant in a five-year-old commissions lawsuit may finally be able to wrap up a case that has received intensive scrutiny from the Department of Justice. The plaintiffs in the case known as Nosalek filed their fourth amended settlement agreement with MLS PIN on May 29. A preliminary approval hearing is scheduled for June 10.
The market slump? It’s ‘all about mortgage rates’

1 month ago | realestatenews.com | Dave Gallagher

Key points:Pending sales were down 6.3% in April compared to March and down 2.5% year-over-year, according to NAR. Mortgage rates rose for a third straight week, averaging 6.89%. Purchase applications notched up, however, as inventory continues to rise and buyers are gaining negotiating power in some markets. April showers dampened sales this year as Americans digested an onslaught of economic news and held off on signing contracts to buy homes.