AGP Executive Report
Last update: 8 hours agoU.S. Housing: Existing-home sales fell 5.5% in October to a 3.75 million annual pace, the lowest since August 2010, as high mortgage rates squeezed buyers. Inventory rose 1.3% to 1.59 million homes, giving shoppers more choice even as sales dropped 8.8% year over year. Global Markets: The slowdown is uneven: New Zealand sales fell 23.5% year over year and British Columbia’s dropped 11%, while Cyprus sales rose 8% in October and Dubai’s ready-property sales hit a record Dh10.1 billion. Broker Practices: A California lawsuit accuses a major brokerage of steering buyers into dual-agency deals while representing builders; state law requires both sides to understand and consent. Closing Delays: A Microsoft outage disrupted some home-moving communications on Friday, though many agents, lenders and conveyancers use separate portals that were unaffected.
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