The National Association of Realtors has counter-sued REX-Real Estate Exchange Inc., claiming the online brokerage has made false and misleading advertisements and statements about its services to deceive consumers. NAR's lawsuit was filed as part of ongoing litigation between NAR and REX in the U.S. District Court for the Western District of Washington in Seattle. NAR is seeking monetary damages, an injunction preventing REX from continuing its false and misleading practices, and reimbursement of costs and attorneys' fees.
Pending home sales fell in December for the second straight month, according to the National Association of Realtors (NAR). All four major U.S. regions posted both month-over-month and year-over-year drops in contract activity. The Pending Home Sales Index (PHSI), a forward-looking indicator of home sales based on contract signings, fell 3.8% to 117.7 in December, the NAR said. Year-over-year, transactions decreased 6.9%. An index of 100 is equal to the level of contract activity in 2001.
Existing-home sales declined in December, snapping a streak of three straight monthly gains, but overall sales for 2021 increased 8.5% to the highest level since 2006.
Pending home sales increased in October, rebounding after a decline in September, according to the National Association of Realtors.
Contract activity rose month-over-month in each of the four major U.S. regions. On a year-over-year basis, however, transactions were split, as two regions reported drops and two others posted gains.
Existing-home sales increased in October, marking two straight months of growth, according to the National Association of Realtors (NAR).
Two of the four major U.S. regions saw month-over-month sales climb, one region reported a drop, and the fourth area held steady in October, NAR said. On a year-over-year basis, however, all four regions witnessed sales decreases.