July 2025

U.S. Home Sales See Highest June Cancellation Rate on Record

The U.S. housing market is experiencing a sharp uptick in home sale cancellations, with nearly 15% of all contracts signed in June falling through -- the highest share for any June since at least 2017, according to new data released by Redfin. Just over 57,000 pending home sales were scrapped last month, representing 14.9% of homes that went under contract. That's up from 13.9% a year ago, as elevated home...

Homebuilder Century Communities expands into Nevada

Century Communities Inc. — one of the largest homebuilders in the U.S. — will expand into Nevada for the first time through its Century Complete brand. New homes are planned at Ishani Ridge in Pahrump, Nevada, with sales expected to begin in August and prices starting in the range of $260,000. The new development will include more than 170 single-family home sites, with floor plans ranging from...

Californians report unraveling mortgage relief after the fires

In the wake of massive wildfires that destroyed 16,000 structures in Los Angeles County in January, hundreds of banks and mortgage companies agreed to let borrowers delay their monthly payments for 90 days, without demands for full repayment at the end of the forbearance period. Others simply pledged relief and relocation assistance. California’s state-run mortgage relief program, announced in...

NWMLS launches voice-activated home search tool

The Northwest Multiple Listing Service (NWMLS) has launched a new bilingual, voice-activated home search tool designed to make real estate listings more accessible to a wider range of users, including people with disabilities. The platform — called Finding Homes — allows users to search listings using natural speech through Alexa-enabled devices or apps. It’s available in both English and Spanish...

Where — and for whom — Trump’s higher SALT deduction cap has the most impact

The recently passed One Big Beautiful Bill Act (OBBBA) gave Americans a huge tax cut that critics say primarily benefits the wealthy. But the law contains a rare reversal from President Donald Trump on a key issue — the state and local tax (SALT) deduction. What the deduction does is all in the name. It allows taxpayers to deduct what they owe in state and local taxes from their federal income taxes....

California creates office dedicated to housing, homelessness issues

In a move to overhaul how California manages its housing and homelessness response, Gov. Gavin Newsom has proposed to divide the state’s Business, Consumer Services and Housing Agency into two distinct entities — the California Housing and Homelessness Agency (CHHA) and the Business and Consumer Services Agency. With no veto coming from the California State Legislature before a July 4 deadline, the...

Orlando Housing Market Cools in June as Listings Slide, Sales Slow

The Orlando housing market showed signs of cooling in June 2025, with new listings, pending sales, and total transactions all edging lower amid still-elevated interest rates and constrained inventory levels. According to data released by the Orlando Regional Realtor Association (ORRA), new home listings fell 8.4% from May to June 2025, with 3,854 properties hitting the market last month compared to 4,208...

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