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Hits and Misses for the Real Estate Week of May 19-23

2 weeks ago | wrenews.com | Phil Hall

Share this article! An unholy misuse of eminent domain, a ritzy Los Angeles mansion with a significant stigma, and a Maine broker running for governor. From the wild and wooly world of real estate, here are our Hits and Misses for the week of May 19-23. Miss: Seizing the Pope’s Childhood Home?
RE/MAX Expands Global Presence Into Côte d'Ivoire and Bahrain

2 weeks ago | wrenews.com | Phil Hall

Share this article! RE/MAX Holdings (NYSE: RMAX) has expanded its global presence with the sale of master franchise rights in Côte d’Ivoire and the opening of a franchised brokerage in Bahrain. The Côte d’Ivoire region is led by Constant Tanflotien, Aboubacar Coulibaly and Tibo Guigma-Premillieu, who aim to leverage the brand in the West African nation’s evolving real estate market.
New Home Sales Surged in April

2 weeks ago | wrenews.com | Phil Hall

Share this article! Sales of new single-family houses in April were at a seasonally adjusted annual rate of 743,000, according to estimates released by the US Census Bureau and the Department of Housing and Urban Development. This is 10.9% above the March 2025 rate of 670,000 and is 3.3% above the April 2024 rate of 719,000 – this also marks the highest sales level in more than three years.
Alabama Home Sales Dropped in April

2 weeks ago | wrenews.com | Phil Hall

Share this article! Alabama recorded 5,791 home sales during April, down 6.8% from the prior month but up 10.8% from one year earlier. According to data from the Alabama Association of Realtors (AAR), the state had 19,144 active listings at the end of April, a 27% upswing compared to the 15,072 listings from one year ago. Also on the rise were foreclosures – 495 last month, up by 11.2% from March and up 2.7% from April 2024.
Housing Inventory Up 30.6%, a New Post-Pandemic High

2 weeks ago | wrenews.com | Phil Hall

Share this article! The inventory of homes for sale during April was up by 30.6% from one year earlier, according to new data from Realtor.com. This marked both the 18th consecutive month of inventory growth as well as a new post-pandemic high. The total number of unsold homes, including those under contract, was up 19.8% compared with last year while the quantity of newly listed homes increased 9.2% from a year ago.
Illinois Home Sales Decline While Housing Inventory Grows

2 weeks ago | wrenews.com | Phil Hall

Share this article! A total of 11,308 single-family homes and condominiums were sold in Illinois during April, which marked a 3.4% drop from the 11,705 homes sold one year earlier. According to data from Illinois Realtors, the dip in home sales was seesawed by a rise in inventory – the quantity of available homes was up by 4.2% year-over-year to 17,819 properties. Also on the rise was the median sales price – $310,000, a 6.2% upswing.
Penn State to Close 7 Campuses

2 weeks ago | wrenews.com | Phil Hall

Share this article! The board of trustees at Pennsylvania State University has approved a plan to close seven of its campuses after the spring of the 2026-27 academic year while continuing to invest in the 13 remaining locations. The board voted 25 to 8 to close the DuBois, Fayette, Mont Alto, New Kensington, Shenango Wilkes-Barre and York campuses.
Home Sales and Prices Down in Florida

2 weeks ago | wrenews.com | Phil Hall

Share this article! Closed sales of existing single-family homes in Florida totaled 23,572 in April, down 4.5% year-over-year, while existing condo-townhouse sales totaled 8,710, down 14.8% over the same period. According to data from Florida Realtors, new listings for existing single-family homes were up 2.7% last month compared to compared to April 2024 while new listings for condo-townhouse units in April were down 2% from one year ago.
Report: Connecticut's Severe Housing Shortage Was a Long Time in the Making

2 weeks ago | wrenews.com | Phil Hall

Share this article! Connecticut’s severe lack of housing supply has been a situation several decades in the making, according to a new report from the Connecticut Business and Industry Association (CBIA). The report, titled “The Economic Impact of Connecticut’s Housing Shortage,” observed that Connecticut’s housing shortage can be traced back to when Bill Clinton was in the White House.
New York State Records 6.2% Drop in Home Sales

2 weeks ago | wrenews.com | Phil Hall

Share this article! Closed sales of homes in New York State totaled 6,968 last month, a 6.2% decline from the 7,428 homes sold in April 2024. According to data from the New York State Association of Realtors, pending sales inched up to 9,565 sales in April from 9,471 recorded on year earlier, a 1% uptick. New listings of homes in the Empire State rose 5.6% from 13,246 listings in April 2024 to 13,989 listings last month.