APRIL 8, 2021
VOL. 14
WEEKLY REPORT
The latest news and updates from Longleaf Pine REALTORS®
IN THIS ISSUE
Pending Home Sales Slip 10.6% in February
by Quintin Simmons
Pending home sales dipped for a second straight month in February, according to the National Association of Realtors®. Each of the four major U.S. regions witnessed month-over-month declines in February, while results were mixed in the four regions year-over-year.

The Pending Home Sales Index (PHSI), a forward-looking indicator of home sales based on contract signings, dropped 10.6% to 110.3 in February. Year-over-year, contract signings fell 0.5%. An index of 100 is equal to the level of contract activity in 2001.
"The demand for a home purchase is widespread, multiple offers are prevalent, and days-on-market is swift but contracts are not clicking due to record-low inventory," said Lawrence Yun, NAR's chief economist. "Only the upper-end market is experiencing more activity because of reasonable supply," he continued. "Demand, interestingly, does not yet appear to be impacted by recent modest rises in mortgage rates."
According to Yun, even with rising mortgage costs, rates are expected to remain relatively low at no more than 3.5% in 2021. He says the rates are still advantageous to both prospective buyers and to current homeowners who are contemplating refinancing.

Nationally, homes priced at above $250,000 have largely been driving home sales for the last several months. However, Yun indicates that even homes priced above $500,000 to less than $1 million are subject to the same low-inventory dilemma.
"Potential buyers may have to enlarge their geographic search areas, given the current tight market," Yun said. "If there were a larger pool of inventory to select from – ideally a five- or a six-month supply – then more buyers would be able to purchase properties at an affordable price."
APRIL 2021
VOL. 14
April Events You Don't Want to Miss
by Emily McCartney
This month brings rain and pollen, but it also brings some exciting events for all our members. Be sure to mark these events on your calendar and register anytime from your association calendar on your new dashboard.

The first event will be a Continuing Education class for our members called Focus on Fair Housing. It will be hosted via Zoom on April 14th, 2021 at 9 am.
The course boasts Nate Johnson, taking students through everything you need to know about fair housing laws. If you need an elective CE this course is for you. It's just $15 for your CE credit before June arrives. For registration and more information click here.

The next event takes place on April 20th at 12 pm and it is the monthly Luncheon. It will be hosted via Zoom. You can register for this event via the link above or the association calendar in your Matrix dashboard. This month we will be hosting an Appraisers Panel to answer questions and discuss the market. A list of ten questions is being compiled by the members. If you have any suggestions feel free to email them to us in response to this email. To view more information about this event click here.
Cycle Six for Code of Ethics Ends December 31, 2021
by Jane Cannon
Have you completed your Code of Ethics Requirement for this cycle? The end of cycle six falls on December 31, 2021.
If you don't know, please call Longleaf Pine REALTORS® Association to verify your status. You can also check your status on the NAR® website by clicking here.

If you have completed the ethics requirement please email your certificate to our Member Services Director, Stephany by clicking here. If you still need to complete your ethics requirements you may find the courses available on the National Association of REALTORS® (NAR) website by clicking here.
APRIL 2021
VOL. 14
Government Affairs Update
by Angie Hedgepeth
Angie Hedgepeth, Government Affairs Director for the Association, attends all the local meetings each month, as well as NAR and NCAR meetings, and keeps members abreast of the multiple issues being addressed in local, state, and national government. She prepares reports on the meetings she attends and they are included in the monthly “Government Affairs Update”. Look for updates on laws that will affect YOUR industry this year!

Click Here to read her latest report.