What's Trending in Kitchens for 2022?

The kitchen became an even more significant heart of the home during the pandemic as the focal point for gathering, working, entertaining, and, of course, cooking, says Joe Fava, CEO of Fava Design Group in Miami. Now, homeowners are putting more into their kitchen space—literally. They’re buying larger refrigerators, freezers, and sinks, and second dishwashers and ovens, he says.

Homeowners are entertaining and cooking even more at home, and the price tag reflects their exuberance. Those who can afford to do so spend upwards of $100,000 on kitchen upgrades. But your clients don’t have to pay that much to get a kitchen they love. Much smaller, less costly improvements can make any kitchen more appealing.

Here’s how!

NAR Files Lawsuit to Require REX to Cease Deceptive Practices

On January 27, 2022, the National Association of Realtors® filed a lawsuit stating that REX-Real Estate Exchange Inc. has made false and misleading advertisements and statements about its services, thereby deceiving consumers and discouraging them from obtaining the pro-consumer, pro-competitive benefits provided by NAR members and independent, local multiple listing services marketplaces.

Read the full press release

Highlights From the Profile of Home Buyers and Sellers

Home Prices Spiked by Double-Digits in 78% of Metro Areas in Third Quarter of 2021

Strong homebuyer demand and limited housing supply led to median sales prices rising for existing single-family homes in all but one of 183 measured markets in the third quarter of 2021.

This is according to the latest quarterly report from the National Association of Realtors®, which found that 78% of 183 markets experienced double-digit year-over-year price increases, fewer than in the prior quarter (94%). Three metro areas saw price gains of over 30% from one year ago, also fewer than the number in the previous quarter (12).

Read more here: https://rb.gy/bkswfu

Fairhaven is a town every REALTOR® should visit

In November 2020, NAR launched Fairhaven, a new fair housing simulation training for REALTORS® that uses the power of storytelling to help members identify, prevent, and address discriminatory practices in real estate. Get started by visiting Fairhaven to explore the fictional town of Fairhaven and assess how well you are adhering to fair housing principles.