Hopeful home buyers appear to be responding to the chance to lock in lower borrowing costs: Mortgage applications for home purchases are 17% higher than the same week a year ago, the Mortgage Bankers Association reported this week. “Buyers are in a sweet spot with more housing inventory and slightly better rates,” says NAR Deputy Chief Economist Jessica Lautz.

Inflation and changing customer priorities have caused brands to shift from purpose-driven to promise-driven marketing, which integrates social good and consumer value, writes Preston Spire's Victor Kimble. Kimble notes that companies such as Aldi and Warby Parker exemplify this trend by offering affordable essentials and convenience. 

Mallory Slesser, an agent and interior designer based in Oak Park, Ill., is combining her expertise to enhance local homes. Slesser, who has a background in custom home building and interior design, started her own business in 2017 and has since balanced both careers full time. Her dual skills allow her to assist clients in visualizing potential home improvements during the buying process. Slesser's latest listing is a Victorian-inspired new construction home in River Forest, Ill., showcasing her ability to blend old-world charm with modern amenities.

A pre-Civil War townhouse in Harlem, considered one of the oldest occupied single-family homes in the area, is on the market for $3.25 million. The 1864 French Second Empire-style home has undergone significant interior renovations, while the exterior remains largely unchanged. The property last sold for $3.6 million in 2015.

Multifamily REITs have been navigating economic uncertainty and the end of an oversupply cycle, but supply pressures could ease further going forward, potentially narrowing the performance gap between coastal markets and the Sun Belt. Meanwhile, renewal lease gains have highlighted the sector's focus on property upgrades and the resident experience. Adam Kramer of Morgan Stanley, Rob Stevenson of Janney and Linda Tsai of Jefferies discuss the current environment and outlook.

Construction ranks "second to last in terms of digitization," trailing only agriculture in technology adoption, said Dan Weisman, National Association of REALTORS®’ director of innovation strategy, during a panel discussion on July 30th on how to build, invest and innovate in construction tech. The experts emphasized the need for more integration, global collaboration and practical problem-solving among construction tech companies to address ongoing problems such as labor shortages, evolving sustainability regulations, mounting pressure for speed and cost efficiency, and persistent supply chain disruptions.

A suite of zoning intelligence software powered by advanced AI is shaping how real estate investors, developers and brokers evaluate and acquire property. Firms have developed platforms that provide detailed and up-to-date parcel data and allow users to assess zoning changes.