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While the share of first-time homebuyers has declined across the country, Black homebuyers are bucking the trend and showing resilience in an increasingly difficult housing market. A recent Zillow survey found that 62% of all Black homebuyers in 2024 were first-timers, the same level as the previous year. In contrast, first-time buyers accounted for only 44% of the market, down from 50% in 2023.
The build-to-rent market is on fire, with occupancy levels at 95% and strong construction activity in most states and metros in the U.S. Nationwide, more than 110,000 new single-family homes for rent are currently under construction, and Point2Homes has just released a report about this rental construction boom. Key Highlights 110,727 single-family rentals are under construction in 613 communities : When completed, this will expand existing build-to-rent inventory by a robust 53.5%.
While Robert Reffkin and Compass are touting their success while pushing for the repeal of the National Association of Realtors ‘ (NAR) Clear Cooperation Policy, eXp Realty executives are claiming that the North American MLS system is helping to fuel their companys strong international growth. I was in Egypt last week with the team, and one of the most interesting things I noticed was the launch of Egypt MLS, which is being launched in conjunction with the government, Glenn Sanford , the C
As companies continue enforcing return-to-office (RTO) policies, many employees are facing difficult decisions about where they live and work. A new StorageUnits.com survey of 2,370 workers impacted by RTO mandates reveals that one in four employees are now being asked to return to an office they dont live near, prompting major financial and lifestyle changes.
Finance teams find Trellis to be particularly effective in conducting comprehensive due diligence on both individuals and businesses. With our court data solution, financial experts can access critical litigation insights, making it an invaluable resource for informed decision-making in the financial sector.
Knock, Knock. Who’s there? Your sign-in sheet. Your sign-in sheet who? The sign-in sheet that got lost on your desk. You should have downloaded one of those open house apps HousingWire was telling you about. Picture this: You sit down at your desk, free of clutter no papers, just your laptop and phone. You log in to check your email, and responses from potential buyers at yesterdays open house are already waiting.
Mortgage rates dipped slightly for a fifth straight week with the average rate for a 30-year fixed-rate mortgage dropping to 6.85%, down from 6.87% last week, according to Freddie Macs Primary Mortgage Market Survey. A year ago at this time, the average rate for a 30-year was 6.90%. Mortgage rates decreased slightly this week, says Sam Khater, chief economist for Freddie Mac, in a statement.
Mortgage rates dipped slightly for a fifth straight week with the average rate for a 30-year fixed-rate mortgage dropping to 6.85%, down from 6.87% last week, according to Freddie Macs Primary Mortgage Market Survey. A year ago at this time, the average rate for a 30-year was 6.90%. Mortgage rates decreased slightly this week, says Sam Khater, chief economist for Freddie Mac, in a statement.
Digital homeownership company Better.com on Thursday announced a record 400% growth in its home equity line of credit ( HELOC ) and home equity loan businesses. In a press release, the company announced that its HELOC business channel increased its revenue from $15 million per month in January 2024 to $60 million per month by October 2024. “If you look at any of the industry’s measures of origination growth, particularly with respect to HELOC, I think we’re growing faster than
Open to all mortgage lending and servicing professionals, GSEs , government entities, and Legal League members, the annual Spring Servicer Summit gathers the nations elite financial services law firms to discuss default policies, procedures, and emerging issues with leading mortgage servicing executives. The unique opportunities for education, networking, and engaging discussions on pressing issues impacting financial services law firms are not to be missed.
Some real estate brokers have found their path blocked as they try to navigate the membership agreements mandated by NAR and their local Realtor associations to gain access to MLS listings. (Image generated by AI in Midjourney) Luz de Amor Eytalis said she filed her antitrust suit against the National Association of Realtors (NAR), Texas Association of Realtors (TAR) and Wichita Falls Association of Realtors (WFAR) because she felt like she didnt have much of a choice.
Single-family built-for-rent construction posted year-over-year declines for the fourth quarter of 2024, as a higher cost of financing crowded out development activity. This slowdown is similar to the deceleration of multifamily construction in recent quarters. According to NAHBs analysis of data from the Census BureausQuarterly Starts and Completions by Purpose and Design, there were approximately.
Construction projects are high-stakes operations where even minor inefficiencies can lead to costly delays, safety concerns, and budget overruns. Managing risk in construction has always been a challenge, but as projects grow in complexity, traditional methods no longer cut it. Enter Digital Transformation - a game changer approach that replaces inefficiency with AI-powered analytics, real-time monitoring, and automated workflows to proactively manage risk.
Compass has added to its roster in the nations capital. The brokerage has acquired Washington Fine Properties (WFP), a luxury real estate brokerage located in the Washington, D.C., metropolitan area. WFP has 150 agents and has executed $43 billion in sales volume over the past 25 years. The acquisition gives Compass a firm footprint of high-end homes in an area with an expensive housing market.
Despite a nationwide dip in first-time homeownership, Black buyers have bucked the trend in 2024, leading the market with 62 percent purchasing their first home, according to new data released by Zillow Thursday.This continues a growing trend, with Black first-time buyers making up 55 percent of the market in 2022 and 63 percent in 2023.
Chase Home Lending recently announced a limited-time, nationwide interest rate discount that is designed to help homeowners save on their monthly mortgage payments.The offer is in effect through March 7. The limited-time refinance rate discount applies to customers looking to refinance into a lower interest rate or reduce their monthly payment, as well as those looking to tap into their home equity through a cash-out refinance, said Nina Gidwaney, Chase ‘s head of refinance and home equity
The virtual brokerage ended 2024 with 82,980 agents a 5 percent drop compared to the previous year, according to Q4 earnings data. EXp also posted $1.1 billion in revenue in the final three months of last year.
Trellis is a state trial court research and analytics platform that provides Real Estate Professionals (Buyers, Foreclosure, Loan Modification, etc.) with LEADS on Pre-Foreclosures, Lis Pendes, Distressed Assets and more — to help uncover **new** opportunities and grow their business. The process is quick and easy — and all in real time. Trellis will supply you with a link to the relevant dockets, a Leads sheet and access to its UI where applicable.
The Phoenix Association of Realtors (PAR) has blinked first in its game of chicken with the National Association of Realtors (NAR). The groups announced Thursday that theyve come to an agreement that will pare down PARs membership option to agents who are not Realtors, bringing PAR into compliance with NARs bylaws. The deal eliminates PARs MLS Choice membership option that allowed agents to become members of PAR without becoming members of the Arizona Association of Realtors or NAR while also ha
The latest data through January 2025 shows that while agent movement in January rose from Decembers lows following a typical seasonal pattern the rebound is notably weaker than in most prior years. The seasonally adjusted data continues to drift lower, indicating that the underlying pace of brokerage switching remains subdued. Meanwhile, the count of active agents continues a modest decline but has not yet reached levels seen back in 2018.
In several metros in the Midwest and South, Gen Z accounted for a fifth of the mortgage applicants. Home prices in those markets were typically below $300K.
While affordability challenges persist, Gen Z is proving resilient, carving out traditional and non-traditional paths to homeownership particularly in the Midwest. New data from LendingTree and CoreLogic highlights the struggles and successes of young buyers in todays real estate landscape. Young buyers still face an uphill battle According to a LendingTree analysis of anonymized credit reports, only 3.1 % of Americans under 30 currently hold a mortgage in the nations 50 largest metro areas.
From using ChatGPT to enhance your writing to avoiding simple errors in communication, this guide is designed to help you target your most common mistakes and make your writing more effective.
Mortgage applications for newly built homes decreased 6% year over year in January 2025, according to a report released Thursday by the Mortgage Bankers Association (MBA). But application volume increased by 19% from December 2024. MBA’s Builder Application Survey (BAS) explores mortgage application data on a monthly basis across mortgage subsidiaries of homebuilders.
Rates have dipped slightly, but demand is weak. Agents hope rising inventory and increased bargaining power will prompt more buyers to move forward this spring.
The National Reverse Mortgage Lenders Association (NRMLA) board of directors is poised to grow by one member. Richard Thorpe, the divisional vice president of CrossCountry Mortgage (CCM)s reverse mortgage division, was announced Thursday as NRMLA’s newest board member. The move underscores CCMs commitment to advancing its reverse mortgage business and leadership within the industry, the company said.
Co-founder James Dwiggins and Keith Robinson are now co-CEOs as the Unfiltered podcast duo embraces a move designed to ramp up our already winning strategy.
The Housing Authority of the City of Milwaukee (HACM), an independent agency in Wisconsin s largest city that was already embattled following the discovery of millions of dollars in misappropriated federal funds, is facing further financial scrutiny this week after the citys comptroller said it is owed more than $5 million in reimbursements to a city department.
CoStar is eying Australian real estate classifieds firm Domain for a rumored $2.7 billion. The purchase would put it toe-to-toe with News Corp, which owns REA Group, Australias largest classifieds firm.
The Attorney General of Massachusetts has filed suit against home equity contract provider Hometap , alleging that the company pervasively and systematically violated the states consumer protection laws, including mortgage and foreclosure prevention laws, putting financially vulnerable homeowners at high risk of losing their homes. The suit goes on to claim that Hometaps primary product offerings which give the company a share of a clients future home value in exchange for what it calls debt-fr
Washington Fine Properties operates in Washington, D.C., Maryland and Virginia and has about 150 agents. The company's leadership team will remain in place after joining Compass.
U.S. mortgage originations are projected to grow moderately in 2025, despite continued economic uncertainty and elevated interest rates, according to TransUnion s newly released credit insights in the fourth quarter of 2024. After years of sluggish origination growth due to inflation , high borrowing costs, and a tight housing market , mortgage originations are expected to rise to 5.7 million in 2025 from approximately 4.6 million in 2024, with the bulk coming from purchase loans. “Consume
Find out how this broker-owner and her team are implementing "purpose-driven leadership" to deliver exceptional experiences tailored to their clients' needs.
The HousingWire award spotlight series highlights the individuals and organizations that have been recognized through our Editors Choice Awards. Nominations for HousingWires 2025 Rising Stars Award are open now through February 28, 2025. Click here to nominate. The mortgage industry is undergoing rapid transformation, with rising competition pushing lenders to enhance borrower experiences and embrace new technologies.
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