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Realtor.com® 2024 Forecast Update: Mortgage Relief is Finally on the Way

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Buoyed by a Strong U.S. Economy, For Sale Inventory and the Existing Home Median Sales Price are Now Expected to Close 2024 with Year-Over-Year Gains, at 14.5% and 4.6%, respectively 

SANTA CLARA, Calif., Aug. 14, 2024 /PRNewswire/ — Home price growth and inventory are now predicted to end the year with year-over-year gains, according to the Realtor.com® 2024 Forecast Update. For sale inventory is forecasted to see the biggest change as home sellers patiently wait for buyers instead of delisting. Existing home median sales price is forecasted to increase year-over-year despite elevated mortgage rates, rising inventory, and homes sitting on the market longer.

“During the first half of this year, we have seen home buyers continue to remain sensitive to mortgage rates, and while home sellers are also affected, the binds of the mortgage rate lock-in effect appear to be loosening for some homeowners,” said Realtor.com® Chief Economist Danielle Hale. “These trends mean that home sales in 2024 will eke out only a small gain over 2023, but homebuyers have a fair amount to look forward to in the latter part of the year. Mortgage rates have finally begun to ease, and this trend is expected to continue as improving inflation enables the Fed to relax its tight policy, boosting homebuyer purchasing power. Furthermore, gains in the number of homes for sale mean that buyers have more negotiating power than they have had in recent years which should help buyers and sellers find the middle ground necessary for more sales. Fall has historically been a shoulder season for the housing market that benefits flexible buyers, and this year is setting up to be even more advantageous.”

Lower Rates Finally Arrive
Earlier this month, mortgage rates dropped to their lowest rate since May 2023 and recent data trends, especially relating to job growth and unemployment are providing evidence that Fed policy is working–perhaps working overtime–and a rate cut, even a large one, may be appropriate. Therefore, our forecast for mortgage rates has been revised slightly lower. Our yearly mortgage rate average forecast is slightly lower at 6.7%, and we revised our year-end forecast to 6.3% from 6.5%.

Annual Home Sales Rebound-ish
Despite affordability headwinds persisting and mortgage rates hindering buying power, we have revised home sales upwards marginally to 4.1 million – an annual increase of .08%. Although there has been more inventory than expected, high mortgage rates this spring which coincided with the peak of the homebuying season had a dampening effect on home sales. For example, this June’s Existing Home Sales dropped to 3.89M, the lowest level in 6 months. The arrival of lower mortgage rates will help draw homebuyers back into the housing market, but with a short runway left in 2024 and a sluggish first half to overcome, home sales are unlikely to take off.

Home Sale Prices Continue to Climb
Despite elevated mortgage rates, rising inventory, and homes sitting on the market longer, sales prices continue to rise. As a result, we’ve revised our initial forecast of a small price decline of 1.7% in 2024 to a rise of 4.6%. This significant revision reflects a resilient U.S. economy and a housing market that is still more broadly undersupplied despite recent upticks in inventory. What’s more, the nation’s largest housing markets remain a competitive marketplace and sellers still have the edge, though it has dulled over the past few years with higher rates. Of the 50 largest markets we track, only 12 are back to or above their pre-pandemic inventory levels.

Mortgage Lock-In Effect is Easing Aiding Inventory Woes
One of the factors that has hampered home sales – an under-supply of homes for sale – has finally started to ease. We have seen substantial improvement in inventory in the first half of 2024, climbing by more than 35% on a year-over-year basis. This is in stark contrast to our initial 2024 forecast that inventory would be down by 14%. Our revised estimate – the largest adjustment in our forecast – is now that inventory will be up 14.5%. Our revision reflects two somewhat unanticipated market developments this spring. First, some sellers who postponed their decision to sell last year – hoping that mortgage rates would be lower this spring were spurred to action by the better-than-expected mortgage rates at the start of 2024. Second, sellers who have put their home on the market seem willing to wait for a buyer rather than delisting, leading to longer time on market and inventory accumulating at a higher rate than expected. 

The NAR Settlement and Election are Wildcards, But Housing Policy May Not Be So Wild
In the coming months, two major events are noteworthy, though their impact on the housing market could vary. The impact of the NAR commission settlements on the market and home prices are a wildcard and will depend equally on macroeconomic conditions and industry and consumer adaptations, with any changes likely to occur gradually over time. At the same time, we don’t expect the wildcard election year to be that wild on the economy or housing market in 2024 since both the Republican and Democratic candidates have served in the White House recently. Markets should be able to handle whomever is elected, though acknowledging that the closer the race, the tougher it is to predict the outcome, which can spark volatility.

Rents Remain Largely Steady
Rents have remained largely steady in 2024 as the tug of war between rising multi-family completions boosting rental supply and elevated rental demand has resulted in a nationwide stalemate. We see demand from new households and continuing renters who might like to buy a home but find that today’s rent versus buy scales are tipped too far in favor of renting, but rental supply has kept up as builders work through the backlog of multi-family units under construction.

Housing Indicator

Realtor.com 2024 Forecast REVISED

Realtor.com 2024 Forecast (Nov. 2023)

2023 Historical Data

Mortgage Rates

Average 6.7% throughout the year, 6.3% by end of year

Average 6.8% throughout the year, 6.5% by end of year

Average 6.8%, 6.6% at end of year

Existing Home Median Sales Price Appreciation

+4.6 %

-1.7 %

+1.1 %

Existing Home Sales

+0.8%

4.1 million

+0.1%

4.07 million

-18.7%

4.09 million

Existing Home For-Sale Inventory

+14.5 %

-14.0 %

Single-Family Home Housing Starts

+10.5%

1.0 million

+0.4%

0.9 million

-5.0%

0.9 million

Homeownership Rate

65.5 %

65.8 %

65.9 %

Rent Change

-0.5 %

-0.2 %

+11.8 %

About Realtor.com®
Realtor.com® is an open real estate marketplace built for everyone. Realtor.com® pioneered the world of digital real estate more than 25 years ago. Today, through its website and mobile apps, Realtor.com® is a trusted guide for consumers, empowering more people to find their way home by breaking down barriers, helping them make the right connections, and creating confidence through expert insights and guidance. For professionals, Realtor.com® is a trusted partner for business growth, offering consumer connections and branding solutions that help them succeed in today’s on-demand world. Realtor.com® is operated by News Corp [Nasdaq: NWS, NWSA] [ASX: NWS, NWSLV] subsidiary Move, Inc. For more information, visit Realtor.com®.

Media Contact: Mallory Micetich, press@realtor.com

 

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Solid Joins Snowflake and Industry Leaders to Advance Open Standards for AI-Ready Semantic Context

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The Open Semantic Interchange (OSI) creates a universal semantic framework that enables AI agents, analytics platforms, and data systems to share trusted business context across the modern data ecosystem.

NEW YORK, July 13, 2026 /PRNewswire/ — Solid today announced it is joining the Open Semantic Interchange (OSI), an open source initiative that creates a universal specification for all companies to standardize their fragmented data definitions with an open, vendor-neutral semantic model specification. OSI aims to enhance interoperability across various tools and platforms, offering enterprises a vendor-neutral specification that provides consistent metrics and definitions across dashboards, notebooks, and machine learning models.

OSI is an open source initiative led by Snowflake, the AI Data Cloud company, and ecosystem partners across multiple domains and industries including business intelligence (BI), data governance, data engineering, AI, financial services, and manufacturing. Its goal is to create a common, vendor-agnostic specification that defines semantic metadata in a standard, open format. By facilitating seamless semantic metadata exchange, the initiative will accelerate the adoption of AI and BI tools to streamline operations and reduce complexity. This in turn allows organizations to unify their data definitions, leading to more comprehensive and accurate data analysis and data product sharing to fuel AI innovation.

By joining the Open Semantic Interchange, Solid is committed to the creation of a universal standard that simplifies data operations and accelerates innovation for the broader ecosystem,” said Yoni Leitersdorf, CEO & Co-Founder, Solid. “Our participation ensures that semantic context can automatically move seamlessly across AI agents, data warehouses, BI tools, and analytics platforms – enabling organizations to build reliable AI systems on top of a shared, interoperable understanding of their business, without vendor lock-in.”

As a member of OSI, Solid is helping to build a transparent and community-driven standard for semantic model sharing, ensuring that business metrics and definitions remain consistent and interoperable.

“Unlocking the full potential of data and AI requires a common foundation, and the Open Semantic Interchange is the critical step in building that bedrock,” said Josh Klahr, Director of Analytics Product Management at Snowflake. “Our collaboration with partners like Solid establishes a unified, vendor-neutral standard for semantic data, ensuring clarity and consistency across the entire ecosystem. This initiative is essential for simplifying data operations, fostering innovation, and preparing organizations to build the next generation of AI applications.”

OSI is poised to revolutionize interoperability within the data and AI ecosystem by providing a transparent, community-driven standard. This collaborative effort simplifies data operations, unlocks new possibilities for innovation, and gives organizations the flexibility and efficiency they need to build a future-ready data infrastructure.

To learn more about the Open Semantic Interchange visit Snowflake’s blog here.

About Solid

Solid is the AI-native context layer for enterprise AI, automatically creating, evaluating, and maintaining the semantic context AI agents need to understand and act on business data reliably. Unlike legacy semantic layers built for dashboards and manual modeling, Solid continuously benchmarks accuracy, detects data changes, and keeps AI systems aligned as the business evolves. The result is faster deployment of trusted AI agents, workflows, and analytics across any data warehouse or AI platform.

To learn more about Solid, visit getsolid.ai

Media Contact: Blair Bader, blairb@getsolid.ai

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Orbis Marks 30 Years of Advancing Eye Health in Vietnam Through Long-Term Partnership and Training

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Flying Eye Hospital project in Da Nang, supported by FedEx, advances locally led eye care and expands access across Central Vietnam and the Central Highlands.

DA NANG, Vietnam, July 24, 2026 /PRNewswire/ — Global eye care nonprofit Orbis International is marking three decades of collaboration with Vietnam’s eye health community, a long-term partnership that has helped build local expertise, strengthen institutions, expand access to care, and support Vietnam’s growing leadership in eye health across the Asia-Pacific region.

The arrival of the Orbis Flying Eye Hospital in Da Nang represents the next chapter in that partnership. At the invitation of Da Nang Eye Hospital and with approval from the People’s Committee of Da Nang City, and support from Da Nang Department of Health, and other relevant departments and local authorities, the project will serve as a platform for hands-on training, innovation, and knowledge exchange. Through clinical training and mentorship across key specialties, the project will help approximately 230 eye care professionals build skills that will benefit communities for years to come, while supporting access to specialized services for nearly 9 million people in Central Vietnam and the Central Highlands.

Cybersight, Orbis’s telemedicine and e-learning platform, is an integral part of every Flying Eye Hospital project—connecting in-person training with continuous learning before and after the aircraft is on site. Through Cybersight, participants can prepare in advance, consult with global experts, access ongoing education, and continue building skills long after the project concludes, extending the impact of the Flying Eye Hospital far beyond the aircraft itself.

“This project is not a standalone intervention; it is the latest chapter in a long-term partnership to advance Vietnam’s eye health system,” said Ngoc Pham, Orbis Vietnam Country Director. “The most important outcome is not what Orbis has done in Vietnam, but what Vietnamese institutions and eye care professionals now lead themselves. Our role at Orbis is increasingly to support, convene, innovate, and accelerate that local leadership so progress continues long after the Flying Eye Hospital departs.”

“Around the world, Orbis is focused on creating lasting change by investing in people, institutions, technology, and local leadership,” said Kathleen Sherwin, President and CEO of Orbis International. “The Flying Eye Hospital is one part of that larger model—bringing intensive, hands-on training together with tools like Cybersight, artificial intelligence (AI), and research so local teams can continue improving care long after a project ends. Vietnam shows what is possible when long-term partnership helps proven solutions take root and scale.”

Building on decades of progress, Vietnam is emerging as a regional leader in eye health, with particular strengths in pediatric care, diabetic retinopathy, retinopathy of prematurity, workforce development, and technology-enabled care. Its growing experience in AI-supported screening, implementation, research, and evidence generation can help inform eye health progress across the Asia-Pacific region.

FedEx, a long-time supporter of Orbis, and a title sponsor for this Flying Eye Hospital project in Vietnam, donated the MD-10 aircraft that serves as the Flying Eye Hospital and continues to provide essential logistical, financial, and operational support. Volunteer pilots from FedEx fly the aircraft to its destinations around the globe. FedEx is represented on the Orbis International Board of Directors.

“At FedEx, we believe that connecting people goes beyond delivering packages – it is about creating opportunities and helping communities thrive,” said Ee-Hui Tan, managing director of FedEx Vietnam and Cambodia. “We are proud to support the return of the Orbis Flying Eye Hospital to Vietnam. Together with Orbis, we are investing in the knowledge and skills of healthcare professionals, helping strengthen Vietnam’s eye care system so more patients can access quality care closer to home.”

Underscoring Orbis’s commitment to high-quality training and patient care, QUAD A, a nonprofit accreditation organization, works with Orbis to ensure that the Flying Eye Hospital meets rigorous standards that prioritize patient safety.

Over the past 30 years, Orbis has supported the training of more than 40,000 eye care professionals and helped expand access to care for millions of people across Vietnam. Today, Vietnamese institutions and professionals are increasingly leading innovation and delivering high-quality care independently, demonstrating the impact of sustained investment in local capacity, technology, and systems change.

Looking ahead, Orbis will continue working with partners across Vietnam to scale proven solutions through workforce development, technology, Cybersight, AI-supported screening, research, and stronger health systems—so that more people can receive quality eye care closer to home.

Orbis in Vietnam

Since beginning work in Vietnam in 1996, Orbis has worked alongside government partners, hospitals, and training institutions to expand access to quality eye care and build sustainable local capacity. Cumulative impact includes:

More than 40,000 eye care professionals trained.More than 5.2 million people reached with eye care services.More than 139,000 sight-saving surgeries supported.17 retinopathy of prematurity centers supported.12 vision centers strengthened to bring care closer to communities.National clinical guidelines supported across priority eye health areas.Cybersight and AI-supported screening deployed to expand training, consultation, and early detection.

This work has supported national clinical guidelines, stronger referral pathways, improved treatment outcomes, and new models of care in areas including retinopathy of prematurity, pediatric eye care, school eye health, cataract, diabetic retinopathy, and glaucoma.

As the partnership continues, Orbis and its partners are focused on scaling proven solutions through workforce development, technology, Cybersight, AI, research, and stronger health systems—so that everyone can access quality eye care closer to home.

About Orbis International

Orbis International works around the world to prevent blindness and restore sight for children and adults in places where eye care is out of reach—so vision problems don’t make it harder to learn, earn a living, or enjoy life. Around 1.1 billion people live with vision loss, but with the right care, 90% of it is completely avoidable. That is why Orbis trains doctors, nurses, and other eye care professionals to provide care in their own communities—and works to make sure people of all ages can access the eye exams, glasses, medicine, and surgeries they need to protect and restore their sight. Orbis began this work more than 40 years ago with the Flying Eye Hospital, a teaching hospital on a plane that brings expert training and care where they’re needed most. Today, we also work with local hospitals and clinics across Africa, Asia, and Latin America to make eye care available to more people, and we use and develop technology—like our award-winning Cybersight e-learning and telehealth platform, artificial intelligence screening, and virtual reality training—to help eye care teams treat patients more effectively. Orbis ranks in the top 3% of U.S. charities, having earned top marks for transparency and accountability from Charity Navigator, GuideStar, and the Better Business Bureau. To learn more, please visit orbis.org

About FedEx Corp.

FedEx Corp. provides customers and businesses worldwide with a broad portfolio of transportation, e-commerce, and business services. With annual revenue of $92 billion, the company offers integrated business solutions utilizing its flexible, efficient, and intelligent global network. Consistently ranked among the world’s most admired and trusted employers, FedEx inspires its more than 500,000 employees to remain focused on safety, the highest ethical and professional standards, and the needs of their customers and communities. FedEx is committed to connecting people and possibilities around the world responsibly and resourcefully, with a goal to achieve carbon-neutral operations by 2040. To learn more, please visit fedex.com/about.

Media Contacts

Orbis Vietnam
Nhung Nguyen
Communications Officer
Nhung.nguyen@orbis.org
+84 0904562983

Orbis International
Jenna Montgomery
Interim Lead, Global Communications and Marketing
Jenna.montgomery@orbis.org

FedEx
Heather Harshbarger
Communications Advisor
+1 901-690-9869

 

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In HelloNation, Property Management Expert Karen Nolan Explains What Property Managers Do for Landlords

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The article outlines how property management services support landlords through tenant screening, maintenance, and lease enforcement.

MENIFEE, Calif., July 24, 2026 /PRNewswire/ — What do property managers actually do for landlords in Menifee, CA? HelloNation has published an article that provides clear answers and practical insight into the full scope of property management services.

 

The HelloNation article explains that a property manager handles far more than rent collection. Property management services begin with marketing vacancies and attracting qualified renters in Menifee, CA. The article explains how tenant screening plays a central role in protecting landlords by carefully evaluating applicants and reducing the risk of future issues.

According to the article, tenant screening helps ensure that each tenant meets financial and behavioral expectations. This step supports stable occupancy and reduces turnover, which is critical for any landlord managing property in Menifee, CA. Property Management Experts note that consistent tenant screening also helps maintain the long-term value of rental properties.

Once tenants are placed, the article outlines how a property manager becomes the main point of contact. Property management services include responding to tenant concerns, handling communication, and enforcing leases. By managing these responsibilities, the property manager allows the landlord to avoid direct disputes and maintain professional distance.

The article emphasizes that lease enforcement is essential to protecting both the property and the agreement. Property managers monitor compliance with lease terms and address violations when necessary. This structured approach helps landlords in Menifee, CA, maintain order and consistency across their rental properties.

Maintenance is another major focus of property management services. The article explains that property managers coordinate maintenance and oversee property repairs to keep homes safe and functional. While they may not perform repairs themselves, they manage vendors, schedule work, and respond to urgent issues quickly.

The article notes that timely maintenance and property repairs prevent small issues from becoming larger and more expensive problems. This proactive approach supports tenant satisfaction while preserving the property’s condition. Property Management Experts highlight that consistent maintenance planning is a key benefit for any landlord.

Beyond daily operations, the HelloNation article describes the administrative side of property management services. A property manager prepares leases, maintains records, and ensures compliance with local and state regulations in Menifee, CA. This includes staying informed about legal requirements that affect landlords and rental properties.

Financial oversight is also part of the role. The article explains that property managers handle rent collection, manage deposits, and provide regular financial reporting. These services give landlords a clear understanding of property performance without requiring constant involvement.

For landlords who own multiple properties or live outside Menifee, CA, the article highlights the value of professional property management services. A property manager helps streamline operations, coordinate maintenance, and ensure that lease enforcement and tenant screening are handled consistently. This reduces stress while improving efficiency.

The article concludes that understanding the full role of a property manager helps landlords make informed decisions about their level of involvement. With responsibilities that include tenant screening, maintenance, lease enforcement, and property repairs, property management services offer a comprehensive solution for effectively managing rental properties.

What Do Property Managers Actually Do for Landlords in Menifee features insights from Karen Nolan, Property Management Experts of Menifee, California, in HelloNation.

About HelloNation
HelloNation is a premier media platform that connects readers with trusted professionals and businesses across various industries. Through its innovative “edvertising” approach that blends educational content with storytelling, HelloNation delivers expert-driven, good-news articles that inform, inspire, and empower. Covering topics from home improvement and health to business strategy and lifestyle, HelloNation highlights leaders making a meaningful impact in their communities.

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