top of page

NEWS

Search

AI Policy Template for Brokers

    NAR offers this policy to member brokers in support of their own AI objectives.


    Every organization invested in the responsible, ethical and secure use of AI should adopt a policy that best meets its unique needs.


    Brokerages may use this template policy as a starting point, but should carefully review and edit to reflect your distinctive business models, existing data policies, and technology vendors and resources.



    REALTORS® Confidence Index

      New NAR Report...


      With modest improvements in affordability, first-time buyers ticked up. REALTORS®’ expectations for a stronger Spring market from both buyers and sellers grew.


      The Market Outlook from the REALTORS® Confidence Index grew for both buyers and sellers on a monthly and annual basis.


      • 37% of respondents expect a year-over-year increase in buyer traffic in the next three months, an increase from 35% one month ago, and a gain from 27% one year ago.

      • 31% of respondents expect a year-over-year increase in seller traffic in the next three months, an increase from 29% one month ago and 29% one year ago.


      With supply still limited relative to demand in some housing markets, 14% of homes sold above list price, this is down from last year when it was 21% and down from 16% one month ago: 

      • Homes listed received an average of 2.3 offers, up slightly from 2.2 last month and flat from 2.3 one year ago.

      • 31% of buyers had all-cash sales, which was up from 27% one month ago and virtually unchanged from 32% one year ago.

      • Due to the use of technology, 6% of buyers purchased a home based only on a virtual tour, showing, or open house without physically seeing the home. This is flat from 5% from one month ago and 6% one year ago.


      Contracts typically closed in 30 days, the same as last month and one year ago. But some faced delays or termination:

      • 6% of contracts were terminated in the last three months, flat from 5% one month ago and 5% one year ago.

      • 14% of contracts had delayed settlements in the past three months, flat from 14% last month, and from 13% one year ago.

      • 8% of contracts were delayed due to appraisal issues, a slight uptick from 5% one month ago and from 7% one year ago. 


      First-time buyers represented 34% of buyers, up from 31% last month and from 31% one year ago. Among all buyers:

      • 16% purchased for non-primary residence use, flat from 16% last month and from 16% last year.

      • 5% were purchased for vacation use, up slightly from 3% one month ago and flat from 5% one year ago.

      • Less than 1% of sellers sold to an iBuyer, down from from 3% one month ago and 1% one year ago.

      • 3% of sales were distressed, virtually unchanged from 2% one month and flat from 3% a year ago. 


      Contract activity shows a reduction in buyers waiving contingencies reversed course after a dip last month: 

      • 20% of buyers waived the inspection contingency, up from 12% one month ago and down from 24% one year ago.

      • 23% of buyers waived the appraisal contingency, up from 15% one month ago and flat from 23% one year ago. 


      Buyers continue to look outside of city centers for the majority of their activity at 87%.

      February Home Sales and Price Report

        California home sales, prices rise in February as mortgage rates ease, C.A.R. reports


        • Existing, single-family home sales totaled 274,820 in February on a seasonally adjusted annualized rate, up 7.0 percent from 256,910 in January and down 0.3 percent from 275,600 in February 2025.


        • February’s statewide median home price was $830,370, up 0.9 percent from $822,630 in January and up from $829,060 in February 2025.


        • Year-to-date statewide home sales were down 0.7 percent in February.





        bottom of page