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.

Inventory 491

Inventory Buyers Sellers Inspection 491

Appraisal Buzz

JULY 23, 2024

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Buyers 396

Buyers Contracts HOA Property Taxes 396

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.

Marketing 474

Marketing Inventory Housing Market Buyers 474

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

Renovations 370

Renovations Buyers Decorating Architecture 370

Housing Wire

JULY 23, 2024

Record-high home prices and elevated mortgage rates are prompting buyers to back out of home purchase agreements at elevated levels. Redfin ’s newest housing market report shows that buyers backed out of 56,000 purchase agreements in June, which constitutes 14.9% of homes that went under contract. That’s the highest percentage of any June on record and the highest level of this year.

Buyers 435

Buyers HOA Property Taxes Inspection 435

Appraisal Buzz

JULY 23, 2024

The U.S. Department of Housing & Urban Development (HUD) has announced the appointment of five new members to serve on its Manufactured Housing Consensus Committee (MHCC) , a Federal Advisory Committee. The following members have been added to the MHCC: David Kruczek, Consumer; Tim Sheahan , National Manufactured Homeowners Association; Sean Roberts, Villa Homes ; Kaye Lawlis, Kentucky Housing Corporation; and Randy Sauders, RADCO.

Construction 221

Construction Development Business Appraisal 221

Appraisal Buzz

JULY 23, 2024

Candor Technology CTO Eric Rawlings Candor Technology , a platform that uses artificial intelligence (AI) technology to automate loan underwriting and quality control (QC) for mortgage lenders, has appointed Eric Rawlings as its new CTO. Rawlings brings a wealth of experience and a proven track record of driving technological excellence across diverse industries.

Technology 221

Technology Retail Government Business 221

Housing Wire

JULY 23, 2024

AARP , the interest group advocating for the wellbeing of older Americans, revealed in a policy paper this month its priorities for a national plan on aging that sufficiently recognizes the changing demographics of the U.S. population , and the trend that will see 20% of all Americans become at least the age of 65 by 2030. “While other countries are responding to these changes by developing and implementing national strategic plans to help them meet the challenges and maximize opportunities to i

Renovations 413

Renovations Development Design Construction 413

Real Estate News

JULY 23, 2024

There’s “going to be a point at which it doesn't make sense to belong” to small, local MLSs, one broker-owner — and member of 7 MLSs — told Real Estate News.

Real Estate 271

Real Estate 271

Housing Wire

JULY 23, 2024

Keller Williams market centers have shared more than $2 billion in profits with affiliated agents though the firm’s profit-sharing program, according to an announcement on Monday. “We are thrilled to celebrate that over $2 billion in lifetime profit share has been distributed to our franchisee-affiliated agents, a milestone that underscores the profound impact of our vision,” Mark Willis , the CEO and president of KW, said in a statement.

Agents 411

Agents Brokerage Design Business 411

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.

Inventory 267

Inventory Marketing 267

Housing Wire

JULY 23, 2024

Pennymac Financial Services earned a profit of $98.3 million in second-quarter 2024, more than double the $39.3 million it raked in during the prior quarter. And the company is getting its ducks in a row to seize on opportunities when interest rates fall, relying on its scale and servicing portfolio to outmuscle competitors. The California -based lender generated production revenue of $202.6 million from April through June, up 10% from the prior quarter and 19% higher than in second-quarter 2023

Technology 407

Technology Mortgage Training Business 407

Appraisal Buzz

JULY 23, 2024

Dan Jones, a seasoned data and artificial intelligence (AI) strategist, has joined Mobility Market Intelligence (MMI), which offers data intelligence and market insight tools for the mortgage and real estate industries, as chief data officer. Jones joins MMI after a 17-year tenure at Rocket Companies, where he rose from business intelligence (BI) engineer to senior vice president and head of data intelligence at Rocket Mortgage and Rocket Central.

Tools 195

Tools Real Estate Clients Business 195

Housing Wire

JULY 23, 2024

Mortgage and real estate executives attending HousingWire ‘s Artificial Intelligence (AI) Summit in Dallas on Tuesday have already begun to collect some lessons learned from Friday’s global tech outage as the world is still dealing with its consequences. Different companies were impacted to different degrees by the problem, but executives said it validates their decision to invest in in-house technology, develop virtual workspaces for employees and signals the need to adopt AI to pre

Technology 401

Technology Real Estate Development Mortgage 401

Appraisal Buzz

JULY 23, 2024

Existing-home sales decreased 5.4% in June compared with May to a seasonally adjusted annual rate of 3.89 million, according to the National Association of Realtors (NAR). Year-over-year, existing-home sales were down 5.4%. The median existing-home sales price increased 4.1% in June compared with June 2023 to $426,900. It was the second straight month the median home price reached an all-time high and the 12th consecutive month of year-over-year price gains, NAR says.

Inventory 195

Inventory Inspection Realtors Sellers 195

Housing Wire

JULY 23, 2024

The second of two lawsuits dealing with pocket listings has been allowed to proceed after a U.S. District Court judge in California granted the plaintiff’s motion for reconsideration on Monday. Originally filed in 2020 by Top Agent Network (TAN), the suit takes aim at the National Association of Realtors ’ (NAR) ban on pocket listings via its Clear Cooperation Policy.

Realtors 402

Realtors Agents Real Estate Marketing 402

Real Estate News

JULY 23, 2024

CEO Andy Florance touted the growth of Homes.com and said its traffic data source was more reliable, comparing it to “election results” versus “polls.

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Housing Wire

JULY 23, 2024

In today’s rapidly evolving digital landscape, it is crucial to understand and effectively manage cybersecurity risks in order to safeguard your title insurance or real estate business. As cyber threats become more sophisticated, the need for robust cybersecurity measures has never been more critical. This fifth installment of the Reducing Risk series delves into the critical cyber risks that can impact your operations and offers comprehensive strategies for proactive identification and ma

Training 380

Training Real Estate Insurance Business 380

Inman

JULY 23, 2024

NextHome CEO James Dwiggins shares his thoughts on agents who use websites designed to advertise offers of compensation from listings after the NAR settlement takes effect next month.

Advertising 184

Advertising Design Agents Brokerage 184

Housing Wire

JULY 23, 2024

Real estate lending shop Dunmor has promoted two employees to senior leadership positions. Andy Thienkosol, a veteran in business-purpose lending (BPL), has been named chief operating officer of the California -based lender. Melissa Perez, a former director of operations at First Republic Bank , has joined Dunmor as senior vice president of operations.

Lending 370

Lending Construction Investing Real Estate 370

Inman

JULY 23, 2024

Rising home prices and mortgage rates, and sticker shock from surprise housing costs, pushed buyers to cancel 56,000 home-purchase agreements in June, according to Redfin.

Buyers 192

Buyers Mortgage Real Estate Marketing 192

Housing Wire

JULY 23, 2024

Texas Capital Bank , after being granted an extension to respond to the federal government’s request to change the venue of the trial between the bank and Ginnie Mae , has filed an objection to the request saying that a “forum selection clause” cited by government attorneys is not enforceable. “Having lost its attempt to dismiss [TCB]’s claims, the government asks this court to transfer this case to another courthouse,” attorneys for TCB said in a court filing obtained by HousingWire ’s Reverse

Government 364

Government Contracts Mortgage 364

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.

Inventory 157

Inventory Realtors Mortgage 157

Inman

JULY 23, 2024

CoStar Group's revenue grew 12 percent year over year to $678 million, according to Q2 earnings Tuesday. Traffic for the Homes.com Network of websites increased 73 percent year over year to 148 million monthly average unique visitors.

Technology 184

Technology 184

GoForrmz

JULY 23, 2024

Transforming compliance processes with GoFormz digital forms In the world of manufacturing, maintaining compliance is crucial for ensuring product quality and safety, as well as avoiding costly penalties. Traditional methods of compliance tracking, often paper-based, can be inefficient and error-prone. By embracing digital forms from GoFormz, manufacturers can streamline their compliance processes, making them more effective and less burdensome.

Modernization 78

Modernization Inspection Tools 78

Inman

JULY 23, 2024

Buyer agreements for open houses? Workarounds? Concessions? As agents race to comply with terms of the NAR settlement on Aug. 17, Inman wants to help answer your toughest questions.

Open Houses 176

Open Houses Agents Buyers 176

Lamacchia Realty

JULY 23, 2024

Behind the incredible REALTORS® of Lamacchia Realty is a team of over 75 staff members that work tirelessly to support, propel, and operate the independently owned brokerage. Each and every staff member plays an integral role in the continued success of the quickly growing company. Lamacchia Realty views its staff members in the highest regard, fostering the values the full service, value-based brokerage prides itself on.

Realty 69

Realty Realtors Brokerage Agents 69

Inman

JULY 23, 2024

Consumers expect specialization in every area of life, from doctors to hairdressers, coach Verl Workman writes. They should expect no less from their real estate expert when it's time to sell a home.

Sellers 172

Sellers Real Estate Agents 172

Mortgagebroker News

JULY 23, 2024

Recent and upcoming changes position company for growth, stronger broker relationships

Business 87

Business 87

Inman

JULY 23, 2024

As for-sale listings continue to surge, many would-be homebuyers are still having trouble finding properties that they can afford and prices are already coming down in some markets

Marketing 176

Marketing Inventory Mortgage 176

Mashvisor

JULY 23, 2024

As a real estate investor, you are well aware that you will need access to important data in order to make the best possible investment decisions.

Real Estate 60

Real Estate Investors Investing Tools 60

Inman

JULY 23, 2024

Hidden costs of homeownership, like property taxes and homeowners insurance, were given a 37 percent risk factor for triggering mortgage delinquency by leaders in default servicing, according to a survey by Auction.com.

Property Taxes 176

Property Taxes Insurance Mortgage Marketing 176

Mortgagebroker News

JULY 23, 2024

Largest Indigenous-led housing development to create thousands of rental units

Development 84

Development 84

Inman

JULY 23, 2024

CFO Pat Theodora taking over as CEO after Iannitti, a pioneer of numerous paperless processes, dies unexpectedly of complications from pneumonia.

Technology 187

Technology Mortgage 187