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Today: National new home sales fell for a third straight month, sellers are finally pricing to market with asking prices down 2.4% year-over-year, and the mortgage brokerage channel is consolidating as NEXA acquires UMortgage to form a 4,000+ LO platform.
New home sales dropped for a third consecutive month, signaling persistent demand weakness in the new construction segment. For Athens-Clarke County, where new single-family permits have been modest, this national trend reinforces that builders pricing above what buyers can finance at current rates will continue to see slower absorption. If you're representing new construction in Oconee or east Clarke, push builders toward rate buydowns or closing cost credits rather than holding sticker price. Source
Sellers are finally getting real on price. Realtor.com data shows the national median listing price is down 2.4% year-over-year, the first meaningful summer decline in the dataset's history. Fewer homes are carrying price cuts (under 40%, down from 54% a year ago) because sellers are listing lower from day one. When cuts happen, they come 3-4 days sooner and are at least 1 percentage point smaller. Delistings fell 8.3% in June and 4.7% in July versus 2025, and pending sales rose 1.8% nationally over the May-July stretch, the strongest since 2022. For Athens agents: this is the pricing conversation to have with every new listing appointment. Sellers who anchor to 2024 peak comps will sit. Those who list at current absorption-rate pricing are moving. The data proves it. Source
Jackson Hole and the global rate reset. Central bankers met this week against a backdrop of coordinated global easing outside the U.S. While the Fed has held, the ECB and other central banks have been cutting. For Athens buyers waiting on rate relief, do not count on a near-term Fed cut to bail out deals. Structure offers around buydowns and adjustable-rate products for qualified buyers who need to move now. Source
Building codes do not drive up home prices. A University of Alabama study of 2.7 million home sales across 26 states found no sustained link between modern building code adoption and higher sale prices. In homes under 10 years old, researchers observed price decreases more often than increases after code adoption. The real affordability equation includes insurance costs, disaster resilience, and long-term maintenance. NIBS (National Institute of Building Sciences) data shows $11 in benefits for every $1 spent on modern codes. For Athens-area builders and agents: do not use code compliance as a scapegoat for pricing. The data does not support it. Instead, market code-compliant construction as an insurance advantage, particularly relevant in Georgia where severe weather risk affects premiums. Source
NEXA Lending acquires UMortgage, creating the nation's largest mortgage brokerage. The combined platform will field 4,047 loan officers originating $14.15 billion annually. UMortgage CEO Anthony Casa joins NEXA as an executive partner, and the UMortgage brand will dissolve by year-end. No layoffs are planned. For Athens originators and referring agents: consolidation in the broker channel means fewer but larger wholesale partners. If your preferred LOs were at UMortgage, confirm their transition status and product menu under the NEXA umbrella. Larger platforms typically negotiate better wholesale pricing, which could translate to marginally better rate sheets for your buyers. Source
Reverse mortgage specialization continues to gain traction. Movement Mortgage's George Vrban originated 106 reverse mortgages for $69 million in volume over the past year by focusing exclusively on HECM (Home Equity Conversion Mortgage, a federally insured reverse mortgage) products and building referral relationships with financial planners. For Athens agents working with aging homeowners in established neighborhoods like Five Points, Normaltown, or Boulevard: reverse mortgages remain an underused tool for clients who want to age in place. Connecting them with a reverse-only specialist rather than a generalist LO produces better outcomes and conversion rates. Source