Housing Wire
JANUARY 19, 2024
Fannie Mae has a rosy outlook for mortgage rates. The government sponsored enterprise is projecting that rates will drop below 6% by the end of 2024, which in turn will boost refi volumes and help thaw the existing home sales market. Following years of volatility in mortgage rates, the housing market will begin its gradual return to a more normal balance in 2024.
Real Estate News
JANUARY 19, 2024
According to the latest NAR data, just 4.09 million existing home sales were reported in 2023, the lowest number in nearly three decades.
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Housing Wire
JANUARY 19, 2024
In the ever-changing American housing landscapes, agents are well advised to stay attuned to shifts in affordability and flexibility trends, as these factors drive the growth and evolution of rental demand and can have a substantial impact on those servicing the real estate segment. For agents, staying informed about these developments is essential for strategic decision-making and client guidance in the coming year and beyond.
Real Estate News
JANUARY 19, 2024
The latest filing focuses on the Northeastern part of California and takes aim at MetroList MLS as well as multiple associations and brokerages.
Housing Wire
JANUARY 19, 2024
Today, we saw existing home sales slip a bit month to month, which isn’t surprising to me as purchase application data started its positive run in November. That data line typically looks out 30-90 days for sales — it doesn’t move as fast as some people think. Since making some holiday adjustments, we have seen a seven-week positive trend in purchase apps since November.
Real Estate News
JANUARY 19, 2024
All eyes are on inventory levels — which are up slightly compared to a year ago — as the market gears up for spring.
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Real Estate News
JANUARY 19, 2024
A former female employee claims she was harassed, then fired for resisting advances from Chris Nevada of the Nevada Real Estate Group.
Housing Wire
JANUARY 19, 2024
Despite a documented preference that older Americans have to age in place, the current housing inventory is inadequate to support the needs of an aging population. This is according to a report from MarketWatch in collaboration with Columbia University ’s Age Boom Academy. Homes in which people raise their families may be too large to adequately support someone’s needs as they age, and naturally begin to see cognitive or mobility impairments, the story explained.
Inman
JANUARY 19, 2024
Listing tour and digital twin solution iGuide has updated its suite of products with a faster, cost-efficient method for creating immersive property experiences called iGuide Instant.
Housing Wire
JANUARY 19, 2024
Country Club Mortgage , a home lender based in California , has decided to lay off over 100 employees due to “facility closures,” documents sent to state regulators show. “This letter serves to give you an amended 60-day notice of permanent layoffs and facility closures effective Feb. 6, 2024,” Sherry Carson, human resources generalist at Country Club Mortgage, wrote in a letter sent to the Employment Development Department in California in early December.
Inman
JANUARY 19, 2024
Senior housing expert Rachael Hite shares data around seniors, aging in place, downsizing and the real cost of retirement. Housing experts predicting a "Silver Tsunami" are underestimating what boomers actually want.
Housing Wire
JANUARY 19, 2024
Tennessee-based community bank Patriot Bank agreed to pay $1.9 million to resolve allegations from the Department of Justice (DOJ) that it engaged in redlining discriminatory practices. The DOJ alleged that from 2015 through at least 2020, Patriot avoided providing mortgage services to majority- Black and Hispanic neighborhoods in Memphis, Tennessee and discouraged people seeking credit in those communities from obtaining home loans.
Eyes on Housing
JANUARY 19, 2024
Despite record high inflation rates, rising interest rates, and worsening housing affordability, young adults continued the post-pandemic trend of moving out of parental homes in 2022. The share of young adults ages 25-34 living with parents or parents-in-law declined and now stands at 19.1%, according to NAHB’s analysis of the 2022 American Community Survey (ACS) Public Use Microdata Sample (PUMS).
Housing Wire
JANUARY 19, 2024
Existing home sales dropped to their lowest level in nearly 30 years in 2023, according to a report from the National Association of Realtors (NAR), released Friday. In 2023, 4.09 million existing homes were sold, the fewest since 1995. “Slow home sales in 2023 were accompanied by higher mortgage rates , with the average rate on a 30-year fixed rate mortgage hitting a 23-year high in early November.
Inman
JANUARY 19, 2024
Government alleges competitors in Patriot's peer group made home loans in minority areas of Memphis at almost three times the rate of Patriot from 2015 to at least 2020.
Housing Wire
JANUARY 19, 2024
Real estate professionals in California are facing yet another commission lawsuit. Filed on Thursday in U.S. District Court in Sacramento by Willsim Latham, LLC., the copycat suit alleges that real estate industry players have colluded to artificially inflate real estate agent commissions. The lawsuit names MetroList Services , the area’s MLS, Sacramento Association of Realtors , Placer County Association of Realtors , El Dorado County Association of Realtors , Lodi Association of Realtors , Yol
Inman
JANUARY 19, 2024
The new lawsuit — the second filed in California this week — takes aim at rules enacted and enforced by MetroList and complied with by some of the nation's biggest real estate firms.
Housing Wire
JANUARY 19, 2024
Nonbank mortgage lender and servicer loanDepot has started to restore functionality to some of its technology systems impacted by an early January cyberattack. However, its operations remain impacted as it continues to investigate the incident. On Jan. 18, the company began to restore several impacted systems over the course of the day beginning with its servicing customer portal.
Inman
JANUARY 19, 2024
The $4.9 billion acquisition is expected to close in the first half of 2024, once it is approved by shareholders and regulators.
Housing Wire
JANUARY 19, 2024
No set path exists for any professional to enter the reverse mortgage industry. People often find themselves in the business from various other professions. It’s the case for Finance of America Companies (FOA) Chief Marketing Officer Chris Moschner. Arriving at FOA following its acquisition of American Advisors Group (AAG) last year, Moschner already had a successful marketing career before joining the industry’s leading lender.
Inman
JANUARY 19, 2024
Homesellers allege 36 Realtor association, brokerage, and multiple listing service defendants conspired to inflate buyer broker commissions in violation of state and federal antitrust laws.
Housing Wire
JANUARY 19, 2024
The rash of recent mortgage and title industry data breaches serves as a sobering reminder of the paramount importance of cybersecurity. In this first installment of our reducing cyber risk series, let’s explore a crucial facet of cybersecurity: bolstering resilience in your critical systems and services. Just like a well-built castle can withstand attacks, having defined resiliency requirements for your digital infrastructure can help reduce risks and protect your business from a potential brea
Inman
JANUARY 19, 2024
The Airbnb Housing Council will advise the home-sharing company on policies and initiatives it can support to combat housing affordability and inventory issues.
Eyes on Housing
JANUARY 19, 2024
Existing home sales slipped in December, ending 2023 at the lowest level since 1995, according to the National Association of Realtors (NAR). In 2023, the decline was largely attributed to worsening housing affordability and persistently low supply, exacerbated by higher interest rates. Low inventory, along with strong demand, drove the median home price to a record high of $389,800 in.
Inman
JANUARY 19, 2024
Lawsuit after lawsuit dropped this week, with no end in sight. How will it affect your professional future, and what can you do to strengthen your business?
BiggerPockets
JANUARY 19, 2024
A new report from Zillow details that this market will boom in 2024. Where is it? And should you invest here?
Inman
JANUARY 19, 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.
BiggerPockets
JANUARY 19, 2024
Foreclosure numbers rose steadily throughout 2023 and increased year-over-year from 2022. Now, as we enter 2024, will those numbers hold up, and what should you make of them?
Inman
JANUARY 19, 2024
California attorney general Rob Bonta claimed in a civil lawsuit filed in LA County Superior Court that Shangri-La Industries illegally put developments in the state's Project Homekey homeless housing program under threat by borrowing against them.
BiggerPockets
JANUARY 19, 2024
Fractional real estate investing involves several investors owning a portion of one or more properties. With fractional ownership, you can invest in real estate with lower capital.
Inman
JANUARY 19, 2024
In some markets, prime real estate close to one of the nation's leading destinations can be had for as little as $110,000. Elsewhere, it might cost a homebuyer several millions of dollars to live next to their favorite landmark.
BiggerPockets
JANUARY 19, 2024
Making decisions on your properties can be the toughest thing you do, so we've made it much easier. Follow this guide to make the right decision!
Inman
JANUARY 19, 2024
Federal Judge Thomas S. Zilly declined REX's motion for a retrial on Thursday. The company had been a years-long battle with Zillow over alleged antitrust activity regarding its IDX policies.
BiggerPockets
JANUARY 19, 2024
while many people know about the potential expenses and risks that come with the actual acquisition, remodeling, and sale of house flipping, some investors are surprised to learn about the taxes involved.
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