Housing Wire

JUNE 17, 2024

From rising home prices to rising mortgage rates and inflation , the millennial generation hasn’t had it easy when it comes to homeownership. But new data from Realtor.com shows that millennials aren’t overly burdened in comparison to previous generations. The analysis of historic home prices, income levels and mortgage rates found that baby boomers — Americans between the ages of 60 and 78 this year — “arguably faced the toughest housing market ever for first-time buyers.“ In 1980, when boomers

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Appraisal Buzz

JUNE 18, 2024

Despite the construction boom that happened shortly after pandemic restrictions began being lifted—that has since slowed—the U.S. housing shortage grew to a 4.5-million-unit deficit, up from 4.3 million units in 2023, according to a new analysis from the real estate firm Zillow. The deepening housing deficit is the root cause of the housing affordability crisis According to Zillow, at its core, the housing market is driven by supply and demand; when the number of people who want a home increase

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Sacramento Appraisal Blog

JUNE 20, 2024

A seller thinks his property is worth about one million dollars more than it actually is because he hijacked a price per sq ft from a different house down the street and applied it to his own. Doh!! This happens all the time unfortunately, and it’s an example of how simple real estate math can […] The post Real estate math gone wild first appeared on Sacramento Appraisal Blog.

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Real Estate Sellers Appraisal Housing Market 296

Real Estate News

JUNE 21, 2024

The California Association of Realtors informed members that the DOJ expressed concern over new forms related to the NAR settlement and MLS practices.

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Realtors 300

Housing Wire

JUNE 18, 2024

Mortgage rates continued to inch toward the 7% mark following last week’s meeting of Federal Reserve policymakers and new inflation data that showed further cooling of consumer prices. On Tuesday, HousingWire ‘s Mortgage Rates Center showed that the average 30-year rate for conforming loans was 7.08%. That was down 11 basis points from the same time last week and exactly 50 basis points below this year’s peak rate that was recorded in early May.

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Appraisal Buzz

JUNE 18, 2024

Rapid rent increases mixed with widespread financial hardship pushed the number of cost-burdened renters to a record high of 22.4 million households in 2022, according to a new analysis from Harvard’s Joint Center for Housing Studies. With housing costs outpacing income gains, low-income renters have been hit especially hard—median residual income remaining post-rent has sunk to $310 a month, far less than the minimum for an adequate standard of living, and turning food, healthcare, and childcar

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Real Estate News

JUNE 21, 2024

The median sale price for existing homes hit a record $419,300 in May, NAR reported, but home sales were lackluster and new construction has cooled.

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Housing Wire

JUNE 20, 2024

Michael Saleh, a former senior vice president of Rocket Mortgage who spent about two decades at the company, has transitioned from the retail lending channel to wholesale by launching independent brokerage firm Zoom Home Lending. Saleh opened the Livonia, Michigan-based firm alongside Henri Houmani and Issa Al-Sheleh, who previously worked for Rocket and migrated to the wholesale channel two years ago.

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Appraisal Buzz

JUNE 17, 2024

According to new Redfin research , more than three in five—an estimated 61.9%—of homes on the market in May had been listed for at least 30 days without selling. That’s up from 60% a year ago and around 50% two years ago. Since March, when new listings increased but buyer demand remained sluggish, the share of properties on the market for at least one month has increased year-over-year, as it has since mortgage rates began climbing in 2022.

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Inman

JUNE 17, 2024

Using artificial intelligence, the latest technology represents an opportunity for the real estate industry to rebrand itself at a time when solutions are sorely needed, writes Inman founder Brad Inman.

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Real Estate News

JUNE 20, 2024

There could be a window of opportunity for would-be buyers as mortgage rates continue to ease and homes sit on the market longer, prompting price cuts.

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Housing Wire

JUNE 21, 2024

Both existing housing inventory and home prices have been rising together year over year, which might seem odd at first glance since existing home sales are trending near all-time lows. However, I can clear up any confusion on this topic. Let’s keep it simple: total active listings are still below 2019 levels nationally, and the days on market are under 30 days today.

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Inventory Housing Market New Listings Contracts 439

Appraisal Buzz

JUNE 19, 2024

A new survey of 137 top rental markets of large-scale properties with at least 50 units found that at least two-thirds of renters are choosing to stay put and re-sign their leases. Overall, the survey found that Miami remained top-dog among rental markets as the most competitive market in the country and further strengthened Florida’s overall appeal among apartment dwellers.

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Inman

JUNE 20, 2024

Parent company Inside Real Estate will carry the BoldTrail name in a range of iterations as they roll out this summer. The new moniker is meant in impart that real estate isn't for the faint of heart.

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Real Estate News

JUNE 19, 2024

The companies have hired veteran financial executives to support growth efforts, with Chris Lown joining CoStar and Chris Black joining the proptech leader.

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Real Estate 267

Housing Wire

JUNE 18, 2024

Redy , an online marketplace that rewards home sellers for selecting a real estate agent who best aligns with their sales goals, announced its launch in five markets on Tuesday. The Redy online platform is now available to home sellers in Atlanta , Dallas , Orlando , Phoenix and San Diego. Real estate agents Josh Altman and Matt Proman, who are also cast members of the Bravo TV show “Million Dollar Listing,” co-founded the firm.

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Appraisal Buzz

JUNE 21, 2024

According to the Fannie Mae Economic and Strategic Research (ESR) Group’s June 2024 analysis , affordability restrictions continue to limit the amount of buyers wanting and able to make home purchases, despite an increase in for-sale home listings. As a result, the ESR Group reduced its total home sales prediction to 4.82 million in 2024, marking a moderate 1.3% annual rise vs the previously projected 2.8%.

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Inman

JUNE 18, 2024

CEO Dawar Alimi writes that choosing a modern and advanced pricing engine can unlock new opportunities for growth, profitability and success in an increasingly competitive landscape.

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Real Estate News

JUNE 17, 2024

ATTOM researchers found that counties around Chicago and NYC, as well as several in inland California, would be the most vulnerable in a housing downturn.

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Marketing 266

Housing Wire

JUNE 20, 2024

Real estate technology provider Inside Real Estate is rebranding its kvCORE platform to BoldTrail , according to an announcement on Thursday. Like kvCORE, BoldTrail is a branded portfolio that unites a collection of capabilities into one system, bringing Inside Real Estate products together in one place. But the company also said that this is about more than just a new name.

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Real Estate Technology Clients Agents 436

Appraisal Buzz

JUNE 17, 2024

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Inman

JUNE 21, 2024

It's up to you to advocate for a fiscally fit future for yourself, senior housing advisor Rachael Hite writes. Here are three women-run resources to help guide you.

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Real Estate News

JUNE 19, 2024

It’s all about housing, which has an outsized effect on the Consumer Price Index — and is contributing to the Fed’s lack of action on interest rates.

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Housing Market Marketing 256

Housing Wire

JUNE 18, 2024

Despite some initial confusion , RE/MAX came out as the No. 1 brand in the 2024 RealTrends Verified + Tom Ferry The Thousand. This marks the fifth year in a row — and the ninth time in 11 years — that RE/MAX has claimed the top spot. In late May, when RealTrends Verified released The Thousand rankings, it appeared that RE/MAX had lost its crown as the top brand to Keller Williams.

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Agents Real Estate Sellers Clients 448

Appraisal Buzz

JUNE 20, 2024

In a new analysis of U.S. down payments , Zillow found that, in order to comfortably afford a typical U.S. home, a buyer making the median income needs to put down nearly $127,750, or 35.4%. Just five years ago, when mortgage rates were hovering just above 4% and the typical home was worth nearly 50% less, that home would have been affordable with no money down.

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Inman

JUNE 18, 2024

At Inman Connect Las Vegas, July 30-Aug. 1, 2024, the noise and misinformation will be banished, all your big questions will be answered, and new business opportunities will be revealed. Join us. Mark your calendars: The U.S. Department of Justice will be weighing in on three real estate industry-related lawsuits on June 20 and 21.

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Real Estate News

JUNE 21, 2024

Can NAR’s optional rules still add up to anticompetitive behavior? Yes, the Department of Justice says in a brief filed June 20 in the case of REX vs. Zillow.

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Housing Wire

JUNE 17, 2024

Wells Fargo ’s program that provides up to $5,000 in closing costs for low- and moderate-income families to purchase a home has been extended to an additional 16 metro areas, the bank announced on Monday. The credit is available for borrowers with combined incomes of up to 80% of their area’s median income who are seeking to purchase a home as a primary residence.

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Appraisal Buzz

JUNE 20, 2024

During the four weeks ended June 16, pending home sales declined 3.8% year-over-year, representing the largest drop in over four months—according to a new study from Redfin. Buyers are also avoiding earlier stages of the house-hunting process. Redfin’s Homebuyer Demand Index, which measures requests for tours and other buying services from Redfin brokers, fell 17% year-over-year, reaching its lowest level since February.

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Buyers New Listings Sellers Mortgage 397

Inman

JUNE 20, 2024

The Inman Intel Index goes beyond sentiment and trends by tapping into the industry's most engaged community. Add your voice to real estate's most ambitious monthly survey today.

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Real Estate Realtors Technology Brokerage 152

Real Estate News

JUNE 15, 2024

Large East Coast indies join ERA; Super Bowl champ signs on with Engel & Völkers Austin; Sotheby's Realty expands in Michigan; Century 21 adds Montana firm.

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Realty Brokerage 248

Housing Wire

JUNE 18, 2024

Freddie Mac ‘s chief financial officer, Christian Lown, will transition to the same position at CoStar Group on July 1, the company announced on Tuesday. Lown informed Freddie Mac of his resignation on June 5 after four years working for the enterprise. His exit will take effect on June 28. In the meantime, the enterprise has started the process to identify a successor.

Real Estate 417

Real Estate Brokerage Realtors Investors 417

Appraisal Buzz

JUNE 20, 2024

Planet Home Lending Area Sales Manager Tom Reber National mortgage lender and servicer Planet Home Lending has hired Tom Reber as Area Sales Manager in Jacksonville, Florida. Reber brings a wealth of experience and a vision for growth in key markets, aiming to expand the company’s presence in Daytona Beach, Jacksonville, Tallahassee and Savannah, Georgia.

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Lending Loan Officers Retail Finance 395

Inman

JUNE 18, 2024

While negotiating skills are top of mind for agents as commission confusion sets in, consultant Rachael Hite offers a step-by-step strategy that should ensure optimal service all summer long.

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