Housing Wire
FEBRUARY 16, 2024
Three sources, who have asked to remain anonymous, have confirmed to HousingWire that the National Association of Realtors (NAR) has run out of liability insurance funds. The news about NAR’s insurance predicament began circulating late Wednesday , with industry analyst Rob Hahn highlighting the news in the Thursday edition of his email newsletter NotoriousROB.
Cleveland Appraisal Blog
FEBRUARY 16, 2024
It’s been a while since I’ve written an article. I miss writing and I miss you! So, first of all, thank you for being here to read articles from my blog! I’ve relied heavily on guest bloggers for a while, and so I’d like to also thank all of my guest bloggers who have provided meaningful content. I know most of my readers are interested in appraisal and real estate-related topics.
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Housing Wire
FEBRUARY 16, 2024
Today, housing starts fell more than anticipated , but the more important story in today’s report is that even though the apartment boom is dead, single-family permits are rising. The U.S. housing apartment boom ran into higher mortgage rates and more supply faster than anticipated, while single-family permits are still enjoying a world of sub-6% mortgage rates.
Real Estate News
FEBRUARY 16, 2024
While overall activity softened last quarter, real estate investors flocked to Chicago and cities in California in the hunt for lower-priced properties.
Housing Wire
FEBRUARY 16, 2024
On average, members of the baby boomer generation saved approximately $4,060 over the course of 2023, lagging behind the average savings levels of every other surveyed generation. This is according to the newest edition of the “Wealth Watch” survey conducted by New York Life Insurance Co. By comparison, millennials (ages 28 to 43 last year) led all age groups with an average savings of about $9,300.
Real Estate News
FEBRUARY 16, 2024
A Wall Street Journal story portrays the National Association of Realtors as inflexible in the face of legal challenges to the industry’s commission structure.
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Real Estate News
FEBRUARY 16, 2024
A total of 22 defendants are named, including NAR, local and national brokerages, and several associations and MLSs.
Housing Wire
FEBRUARY 16, 2024
A second home seller in Nevada has filed a lawsuit alleging that real estate industry players in the state have colluded to artificially inflate real estate agent commissions. The copycat commission lawsuit was filed on Friday in U.S. District Court in Las Vegas by Nevada home seller Angela Boykin. The complaint claims that the National Association of Realtors is the creator of this alleged conspiracy through its creation and enforcement of its Participation Rule.
Inman
FEBRUARY 16, 2024
With a combined net worth of $125 billion after earnings this week, the mortgage giants remain on a path that could lead to eventual release from government conservatorship if political winds shift.
Housing Wire
FEBRUARY 16, 2024
Housing starts came in lower than estimates in the first month of the year, as the cold winter dampened activity. New construction starts fell to a seasonally adjusted annual rate of 1.331 million units, down 14.8% month over month, according to a report released Friday by the U.S. Census Bureau and the U.S. Department of Housing and Urban Development (HUD).
Eyes on Housing
FEBRUARY 16, 2024
Despite weakness for single-family construction in 2023, townhouse construction recorded the best quarter for starts in more than 17 years. According to NAHB analysis of the most recent Census data of Starts and Completions by Purpose and Design, during the fourth quarter of 2023, single-family attached starts totaled 47,000, which is 27% higher than the fourth quarter of 2022.
Housing Wire
FEBRUARY 16, 2024
The Department of Justice (DOJ) is asking the real estate industry to consider a world without the practice of cooperative compensation. In its statement of interest relating to MLS Property Information Network ’s (MLS PIN) settlement agreement with the Nosalek commission lawsuit plaintiffs, filed Thursday evening, the DOJ recommended that Judge Patti D.
Inman
FEBRUARY 16, 2024
Loan applications for new-home purchases were up 19 percent from a year ago in January, according to an MBA survey of builders that's been an accurate predictor of trends.
Housing Wire
FEBRUARY 16, 2024
Mortgage applications for new homes surged in January as a lack of existing homes continued to fuel the demand for new construction. Mortgage applications for new home purchases rose 19.1% in January on a year-over-year basis, the 12th consecutive month with an annual increase. Applications were up 38% from the previous month, according to the Mortgage Bankers Association (MBA) Builder Application Survey for January.
Inman
FEBRUARY 16, 2024
The Department of Justice said a proposed settlement in the major antitrust lawsuit might itself violate federal law and said buyers should negotiate their broker's commission directly.
Housing Wire
FEBRUARY 16, 2024
For most of its history, New American Funding (NAF) has focused on organic growth, but earlier this month, the company acquired Draper and Kramer Mortgage Corp. to enhance its presence in the Midwest and along the East Coast. HousingWire Editor in Chief Sarah Wheeler sat down with New American Funding CEO and Co-founder Rick Arvielo to talk about the acquisition, the company’s strategy for the rest of 2024, and what differentiates NAF in this market.
Inman
FEBRUARY 16, 2024
The Federal Reserve's policy shift depressed homebuyer and homeseller activity in January, according to Redfin. Monthly new and active listing growth dropped to the lowest levels since last summer.
Housing Wire
FEBRUARY 16, 2024
Path & Post Real Estate appointed Bekki Shae Smith to the role of managing broker, the Georgia -based boutique brokerage announced on Thursday. Before joining Path & Post, Smith was a Realtor , broker and partner at LOCAL Realty North ATL for three years. Additionally, Smith is serving as the 2024-25 Region 1 director for the Georgia Association of Realtors ; in 2023 she served as the president of the Cherokee Association of Realtors.
Inman
FEBRUARY 16, 2024
NAR Interim CEO Nykia Wright sent a letter on Friday following a critical article in the Wall Street Journal, and in the wake of news the U.S. Department of Justice wants big changes in real estate.
Housing Wire
FEBRUARY 16, 2024
Cautious optimism is prevalent in the mortgage industry for 2024 as industry professionals anticipate the recovery of lost origination volume. To take advantage of the shifting market, two key areas that loan originators should be focusing on are “nurturing and cementing relationships with preapproved borrowers,” said Tim Braheem, founder and chief content creator of The Loan Atlas.
Inman
FEBRUARY 16, 2024
Construction technology company Higharc closed a $53 million Series B round of financing led by Spark Capital and Pillar VC.
Housing Wire
FEBRUARY 16, 2024
California Regional MLS (CRMLS), the largest MLS in the country, has teamed up with technology provider Immobel to roll out two new products, MLS Match and Xomio, the company announced on Wednesday. MLS Match is an agent referral network program, while Xomio is internet data exchange (IDX) software that helps agents create websites in 19 different languages.
Inman
FEBRUARY 16, 2024
Looking for a quick catch-up on the buzziest stories of the week? Here’s Inman Top 5, the most essential stories, according to Inman readers.
Housing Wire
FEBRUARY 16, 2024
Finance of America Companies (FOA), parent company of reverse mortgage industry-leading lender Finance of America Reverse (FAR), was notified for the second time on Feb. 12 by the New York Stock Exchange (NYSE) that it was not in compliance with the exchange’s continued listing standard. This is according to an announcement from FOA issued on Friday, Feb. 16.
Inman
FEBRUARY 16, 2024
The family has owned the shingle-style property since 1999, spending many vacations and holidays there, and is now selling it for $14.95 million.
Eyes on Housing
FEBRUARY 16, 2024
The latest Producer Price Index, reported by U.S. Bureau of Labor Statistics, indicated that inputs to residential construction, goods less foods and energy (residential building materials, not seasonally adjusted) increased 1.28% between December 2023 and January 2024. This was the largest monthly change for the index since March of 2022, when it increased by 2.07%.
Inman
FEBRUARY 16, 2024
The award-winning Atlanta agent is returning to the brokerage where she spent over 40 years of her career after an 8-year stint at Berkshire Hathaway.
Eyes on Housing
FEBRUARY 16, 2024
A sharp decline in multifamily starts pushed overall housing starts down in January even as single-family production showed signs of a gradual improvement later this year as interest rates continue to moderate. Overall housing starts decreased 14.8% in January to a seasonally adjusted annual rate of 1.33 million units, according to a report from the U.S.
Inman
FEBRUARY 16, 2024
Now Streaming! Gain expert advice from industry leaders on navigating common pitfalls faced by new agents, and learn best practices to ensure success in 2024.
Appraiserblogs
FEBRUARY 16, 2024
The lender and the AMC could have applied that veto to the sales agents, using the appraisal as proof positive that the agents derailed this deal. What is the ROV for? The answer is the listing agents pricing strategy and the buyers agents buying strategy. The lender will go through the appraisal with a fine tooth comb and microscope, while ignoring the fact the initial BPO and CMA which led to the listed price the contract was formed around, was totally inadequate and riddled with errors.
Inman
FEBRUARY 16, 2024
At Inman Connect New York, the SERHANT. founder and CEO issued a challenge to the real estate industry to innovate rather than react.
BiggerPockets
FEBRUARY 16, 2024
At the beginning of 2023, we reported on the advent of #Airbnbust, a term coined by Amy Nixon and amplified by vacation property operators on social media to describe falling revenues […]
Inman
FEBRUARY 16, 2024
Real estate software company Inside Real Estate (IRE) has acquired Amitree, the company that developed email-based productivity solution Folio.
BiggerPockets
FEBRUARY 16, 2024
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