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Pennymac posts first-quarter profit of $39M

Housing Wire

million figure it posted during the same period last year but a significant improvement from the pretax loss of $54.2 million profit it posted in 2022. Pennymac Financial Services earned a profit of $39.3 million in the first quarter of 2024, the California -based multichannel lender and servicer announced Wednesday. billion in 2023.

Lending 378
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Pending home sales post a modest gain in March:  NAR

Housing Wire

The Northeast, South and West regions posted monthly gains in transactions while the Midwest recorded a loss. Year over year, the Northeast and the South registered decreases but the Midwest and the West posted gains. NAR’s Pending Home Sales Index increased to 78.2 in March, up from 75.6

Inventory 360
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Which brokerages will thrive in a post-NAR settlement world?

Housing Wire

Despite RE/MAX’s agent attraction and retention woes, Bhonsle firmly believes productive agents will be the key to firms succeeding in the post-NAR settlement world. “In They will have to find a way to attract more agents all of a sudden.”

Brokerage 433
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The post-pandemic migration surge has evidently ended

Housing Wire

The migration surge that characterized the early years of the COVID-19 pandemic has come to an end, according to an analysis from John Burns Research & Consulting. Against a backdrop of constrained housing supply , the pace of migration has slowed compared to 2020 and 2021. But where movement does occur, it tends to be over shorter distances.

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Opendoor: We’re ‘built for’ post-settlement world

Real Estate News

In a blog post, CEO Carrie Wheeler said the NAR deal and rule changes would be a boon for the company: “We’ve never been so optimistic about the future.”

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Why investors believe CoStar holds a big advantage post-NAR settlement

Housing Wire

Friday’s bombshell – the National Association of Realtors ‘ proposed $418 million settlement of real estate commission lawsuits – set off a frenzy of trading for stocks in the residential real estate sector.

Investors 409
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What’s new and what’s next, post-NAR commissions deal?

Real Estate News

The Supreme Court passes on a chance to weigh in, objections pile up, and Fannie and Freddie say it’s all right to exclude commissions from seller concessions.

Sellers 262