Housing Wire
JULY 26, 2024
Secure payment provider Payload is launching a new payment and billing tool specifically geared to buyer agents , according to an announcement on Thursday. In a release, Payload said it created the solution in response to the terms of the National Association of Realtors’ nationwide commission lawsu it settlement agreement , and the potential changes to buyer agent compensation.
Appraisal Buzz
JULY 24, 2024
Nearly two-thirds (64.7%) of homes on the market in June had been listed for at least 30 days without going under contract, according to a new report from Redfin, a technology-powered real estate brokerage. This marks an increase from 59.6% year-over-year, the largest annual rise in a year and the highest share for any June since 2020. June marked the fourth consecutive month in which the proportion of homes lingering on the market for at least a month increased year-over-year.
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Real Estate News
JULY 24, 2024
A sequel to the industry-challenging assessment is expected in early 2025 and will focus on the future. “The time is now for the industry to transform itself.
Inman
JULY 25, 2024
New reports from "The New York Times" and "The Wall Street Journal" suggest that executives at Douglas Elliman and Side had heard about sexual assault allegations made against the Alexander brothers while they worked for their firms.
Eyes on Housing
JULY 25, 2024
In the second quarter of 2024, the U.S. economy grew twice as fast as it did in the first quarter, supported by consumer spending and private inventory investment. Furthermore, the data from the GDP report suggests that inflation is cooling. The GDP price index rose 2.3% for the second quarter, down from a 3.1% increase.
Housing Wire
JULY 23, 2024
Sinking sales, rapidly rising inventory and prices at all-time highs — this is the state of the market for existing homes. That’s according to June’s existing-home sales data from the National Association of Realtors (NAR), which reflect the problems that have hampered housing markets since mortgage rates began to rise in 2022. Sales of existing homes in June fell 5.4% year over year and month over month to a seasonally adjusted rate of 3.89 million.
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Real Estate News
JULY 24, 2024
Upward of 56,000 home purchase contracts — nearly 15% of all such contracts from June — were canceled, a new report found, largely due to affordability issues.
Inman
JULY 24, 2024
CoStar Group has put former Realtor.com News and Insights editor James Kaminsky on leave in response to Move's objections to sharing confidential information amid its trade secrets lawsuit.
Eyes on Housing
JULY 23, 2024
Existing home sales fell for the fourth straight month in June due to lingering high mortgage rates and record-high prices, according to the National Association of Realtors (NAR). Although low resale inventory continued to push prices to another record high, the months’ supply of inventory continued to increase and reached its highest level since May.
Housing Wire
JULY 25, 2024
Mr. Cooper Group has struck a deal to acquire a third-party origination (TPO) platform and $356 billion in mortgage servicing rights (MSRs), advances and subservicing contracts from Flagstar Bank , owned by New York Community Bancorp (NYCB). As part of the deal, the Dallas-based servicer and lender will pay $1.4 billion in cash, funded via available cash and drawdowns of existing MSR lines.
Appraisal Buzz
JULY 23, 2024
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Real Estate News
JULY 22, 2024
A letter to the state’s Realtor association also calls out consumer complaints about being “ensnared in contracts with brokers” they don’t want to work with.
Inman
JULY 24, 2024
Seven executive hires in 2024 include Dana Abernathy, who will expand the company's servicing operations, and Mike Iorio, who is tasked with growing homebuilder partnerships.
GoForrmz
JULY 22, 2024
Originally published on 01/19/2021 Improve your construction bid templates with Automatic Calculations As the construction industry embraces the many advantages of digital solutions, it’s critical that your operation keep pace. Many areas of the construction industry can benefit from digital solutions, such as incorporating a digital construction site safety checklist or digitizing a construction invoice template to enhance customer professionalism.
Housing Wire
JULY 23, 2024
Today’s existing home sales report shows that the existing home market is now almost balanced. That might sound strange, but like most things I do, I have a model for it. We are very close to getting this balance nationally and in some markets we’re already there. I have often discussed four months of supply and active inventory between 1.52 and 1.93 million as a balanced market, but this equation has a second variable tied to today’s housing economics: affordability.
Appraisal Buzz
JULY 22, 2024
RentCafe has analyzed the nation’s rental market for the first half of 2024, ranking the most sought-after markets for rentals. With high home prices and limited housing options making renting a preferred choice for many, RentCafe took a deeper look at which cities have received the most attention from renters in the first half of 2024. Claiming the top spot for the fifth time in the past six months was Minneapolis which attracted the highest online engagement on RentCafe.com.
Real Estate News
JULY 22, 2024
Former eXp Chief Growth Officer Michael Valdes will spearhead the international expansion of LPT Realty, which he says is perfecting the model eXp pioneered.
Inman
JULY 24, 2024
Applications for purchase mortgages dropped last week for the second week in a row as rising home prices continue to shut many would-be homebuyers out of the market.
Appraiserblogs
JULY 24, 2024
The HousingWire article highlighting that only 40% of homes sold include an “accurate” appraisal, as defined by the Corporate Settlement Solutions (CSS) report, is deeply problematic and indicative of a concerning lack of understanding around the appraisal process. The report cited from CSS, analyzed appraisal data across 10 states in the East Coast and Midwest, finding that only around 40% of home sales included an appraisal that was within $2,500 of the final sale price.
Housing Wire
JULY 24, 2024
While there is no doubt that the Florida housing market has slowed since the height of the post-pandemic homebuying boom, the state’s condominium market has been especially hard hit, according to local agents. “It has definitely slowed,” said Cyndee Haydon , a Seminole-based agent for Future Home Realty. “Inventory has gone from a three-month supply a year ago to at least six months, so really we are into a buyers’ market now.
Appraisal Buzz
JULY 24, 2024
Matic has published its mid-year premium trends study , which examines trends in homeownership from 2024’s first half. The report highlights significant challenges faced by homeowners, mortgage entities, and the housing market as a whole due to record premium increases, ongoing new business restrictions, and carrier exits. It draws from a dataset of 36 million quote requests, 10 million properties, and external quoting engines.
Real Estate News
JULY 22, 2024
The profit-share program, which made headlines last year after the company proposed changes, hit a new milestone with the multibillion-dollar figure.
Inman
JULY 25, 2024
The merger with the team managed by Esther Ozuna continues the growth of an Atlanta team that has ranked among the RealTrends 100 nationally in recent years.
Eyes on Housing
JULY 25, 2024
Housing’s share of the economy stayed level at 16.1% in the second quarter of 2024. The share remained above 16% after staying constant at 15.9% for all of 2023. The more cyclical home building and remodeling component – residential fixed investment (RFI) – was 4.0% of GDP, level from 4.0% in the first quarter. RFI.
Housing Wire
JULY 25, 2024
Home insurance premiums have risen by as much as $865 this year for homeowners who originally purchased their policies in 2021. In response, the mortgage industry and federal regulators are aiming to determine the best courses of action to mitigate the financial burdens on both homeowners and insurance carriers. This is according to a new report published by Matic , which aims to assess the impacts of these realities on a highly volatile home insurance market. “The combination of climate c
Appraisal Buzz
JULY 22, 2024
DocMagic Founder, President and CEO Dominic Iannitti DocMagic has issued a release announcing the passing of its Founder, President and CEO Dominic Iannitti , who passed away unexpectedly last Thursday morning due to complications from pneumonia. An innovator and prominent figure within the mortgage industry, Iannitti founded DocMagic Inc. in 1987, with a vision to streamline the mortgage process and eliminate the reliance on.
Real Estate News
JULY 25, 2024
Mortgage rates remained nearly flat as the market awaits the Fed’s next move. Meanwhile, inventory is still growing — but “sellers are pulling back.
Inman
JULY 22, 2024
The company celebrated during a live "growth call" with leaders from more than 1,000 franchisees in the U.S. and Canada. Nearly 150 KW agents have earned more than $1 million in lifetime profit share.
Eyes on Housing
JULY 26, 2024
Personal income inched up 0.2% in June, down from a 0.4% increase in the prior month, according to the most recent data release from the Bureau of Economic Analysis (BEA). Gains in personal income are largely driven by increases in wages and salaries. As spending outpaced personal income growth, the personal savings rate decreased to.
Housing Wire
JULY 24, 2024
Real estate companies are using artificial intelligence (AI) to improve agent productivity, which they believe will be even more necessary due to changes to their commission structure — mainly on the buyer’s side. But despite these tech advancements, they don’t see a scenario in which “robots” will soon take buyers and sellers through the homeownership journey.
Appraisal Buzz
JULY 23, 2024
Zillow, along with Thumbtack, a listing service that helps people find qualified professionals to complete home maintenance and improvement projects, has released a list of projects flippers and homeowners alike can complete to garner more attention from prospective buyers. Not all homeowners or property managers are willing to take a deep dive into home renovations, whether it be the cost or the time involved to complete the project—fortunately, certain select features are proven to be highly
Real Estate News
JULY 23, 2024
At $426,900, the median sale price for existing homes set another record in June, but inventory also rose, suggesting a “slow shift” to a buyer’s market.
Inman
JULY 24, 2024
A much-discussed listing agreement update reflects upcoming NAR rules, but doesn't bar sellers from offering compensation to buyers' agents.
Eyes on Housing
JULY 25, 2024
All-cash purchases accounted for 6.9% of new home sales in the second quarter of 2024, the lowest level since the fourth quarter of 2021, revealed by NAHB analysis of the most recent Census Quarterly Sales by Price and Financing report. Among mortgaged home sales, both FHA-backed and VA-backed sales fell while conventional sales remained unchanged.
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