Housing Wire
AUGUST 18, 2023
The slower housing market and uncertain economic conditions took their toll on the number of real estate brokerages and firms that were named to Inc. Magazine ’s 5000 list for 2023, a ranking of the fastest-growing companies in the U.S. Last year , over 60 real estate brokerage firms or real estate teams made the list, but this number shrank to just 36 in 2023.
Sacramento Appraisal Blog
AUGUST 16, 2023
Weird. That’s a good way to describe today’s housing market. On one hand prices are still pretty high, but volume has fallen off a cliff. This week I was talking with a broker who has been in business since the 1970s, and he told me he’s never seen a market like today. Exactly. This is […] The post A Weird Housing Market: High Prices & Depressed Volume first appeared on Sacramento Appraisal Blog | Real Estate Appraiser.
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Cleveland Appraisal Blog
AUGUST 13, 2023
Hello! I hope you’re having a great summer! Plumbing may be the last thing on your mind right now. If you’re like me, you put off plumbing work until the winter months when there is less to do outside. At least in Cleveland anyway. However, plumbing is a big part of our lives, on many levels. When it comes to plumbing, there are things we can do to save money and avoid future problems.
Real Estate News
AUGUST 18, 2023
Serial entrepreneur Spencer Rascoff predicts real estate agents will be “one of the biggest verticals” that will use HeyLibby to turn contacts into customers.
Housing Wire
AUGUST 18, 2023
The U.S. Department of Housing and Urban Development (HUD) this week announced a package of regulatory and administrative waivers that will allow the use of HUD funding to assist with the recovery of Maui after the island endured a series of devastating wildfires. The waivers come as thousands of government-backed mortgages on the island have been impacted by the disaster, according to data released by the office of Hawaii Gov.
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Real Estate News
AUGUST 18, 2023
The Consumer Financial Protection Bureau fined Freedom Mortgage $1.75 million and Realty Connect $200,000 for providing illegal incentives for loan referrals.
Housing Wire
AUGUST 17, 2023
The Consumer Finance Protection Bureau (CFPB) issued orders against Freedom Mortgage Corporation and Realty Connect USA Long Island for illegal kickbacks on Thursday, the first enforcement action associated with the 1974 Real Estate Settlement Procedures Act in six years. According to the CFPB, Freedom provided real estate agents and brokers with incentives, including cash payments, paid subscription services, and catered parties in exchange for agent and broker referrals for mortgage loan offer
Inman
AUGUST 18, 2023
Compass has purchased the 40-year-old brokerage and its team of nearly 40 agents, marking the publicly traded brokerage's first office in Santa Cruz County, the company announced Wednesday.
Eyes on Housing
AUGUST 17, 2023
Confidence in the market for new multifamily housing was in positive territory for the second quarter, according to results from the Multifamily Market Survey (MMS) released today by the National Association of Home Builders (NAHB). The MMS produces two separate indices. The Multifamily Production Index (MPI) had a reading of 56 for the first quarter while the Multifamily Occupancy Index.
Real Estate News
AUGUST 17, 2023
After a fourth week of increases, average rates reached 7.09% this week, passing last fall's peak.
Housing Wire
AUGUST 17, 2023
The 10-year yield closed today above my key level of 4.25%: Does that mean mortgage rates will hit 8%? To understand what’s happening, here’s how I look at the bond market and mortgage rates in my forecast for 2023. In my 2023 forecast , the range on the 10-year yield was between 3.21%-4.25%, emphasizing that the bond yields can go lower than 3.21% only if the labor market breaks — which would require jobless claims to go over 323,000 on a four-week moving average.
Inman
AUGUST 18, 2023
Regulators claim lenders' marketing agreements with more than 40 real estate brokerages, including Realty Connect USA, were a conduit for kickbacks that generated more than 1,000 mortgage referrals.
Eyes on Housing
AUGUST 16, 2023
Every year, the National Association of Home Builders (NAHB) conducts a member census to better understand the composition and characteristics of the people who belong to its organization. In 2022, 35% of NAHB’s members were builders—those whose primary business is single-family home building, multifamily building, residential or commercial remodeling, commercial building, land development, or manufacturing of modular/panelized/log homes.
Real Estate News
AUGUST 17, 2023
Tom Hurdelbrink will step down in December, with NWMLS general counsel Justin Haag moving into the top spot.
Housing Wire
AUGUST 17, 2023
Reflecting the housing industry’s headwinds, just 16 mortgage lenders and brokers made the annual list of Inc. Magazine ‘s 5,000 fastest-growing private companies in the U.S. for 2023. It’s a sharp decline from 2022, when nearly 70 mortgage lenders and brokers were named. The companies are U.S.-based, privately held and independent as of Dec. 31, 2022.
Inman
AUGUST 18, 2023
The pandemic first started opening luxury buyers' eyes to New Hampshire's second-home-market opportunities, and now more and more ultra-luxury buyers are catching on.
Eyes on Housing
AUGUST 14, 2023
Over the first six months of 2023, the total number of single-family permits issued year-to-date (YTD) nationwide reached 449,226. On a year-over-year (YoY) basis, this is 20.9% below the June 2022 level of 567,798. Year-to-date ending in June, single-family permits declined in all four regions. The Northeast posted the lowest decline of 11.0%, while the West region reported the steepest.
Real Estate News
AUGUST 16, 2023
A judge has ruled an antitrust claim was without merit, a key component in a federal case involving how portals display non-MLS real estate listings.
Housing Wire
AUGUST 17, 2023
Though the National Association of Realtors is not out of the legal woods yet, the trade group does have reason to celebrate. A federal court judge on Wednesday dismissed all antitrust allegations made by REX Real Estate against NAR and Zillow. The remaining claims in the case are all against Zillow, meaning that NAR is no longer a defendant in the case and will not have to participate if it heads to trial next month as scheduled.
Inman
AUGUST 18, 2023
U.S. District Judge Allen Winsor denied a request by plaintiffs to stop the state from enforcing the law because it is based on citizenship, not race, so does not violate the Constitution and fair housing.
Eyes on Housing
AUGUST 15, 2023
After steadily rising for seven consecutive months, builder confidence retreated in August as rising mortgage rates nearing 7% (per Freddie Mac) and stubbornly high shelter inflation have further eroded housing affordability and put a damper on consumer demand. Builder confidence in the market for newly built single-family homes in August fell six points to 50, according to the National Association.
Real Estate News
AUGUST 16, 2023
CRMLS and other organizations are offering temporary access and support to agents affected by the Rapattoni shutdown, now in its second week.
Housing Wire
AUGUST 17, 2023
With the housing industry down across the board, upstart title insurance firms couldn’t maintain strong growth rates in 2023. Just three title insurance firms made the annual Inc. 5000 list, a growth-based ranking of U.S.-based privately held and independent companies. Nine title insurers made the list in 2022. Each business had a minimum revenue of $190,000 in 2019 and $2 million in 2022, according to the business magazine.
Inman
AUGUST 18, 2023
The town of Bridgehampton, where the median home price is $3.8 million, is home to one of just three remaining Kmarts. Soon it will be one of two, according to reports.
Eyes on Housing
AUGUST 17, 2023
According to NAHB analysis of the most recent Census data of Starts and Completions by Purpose and Design, during the second quarter of 2023, single-family attached starts totaled 38,000, which is flat relative to the second quarter of 2022. Nonetheless, over the last four quarters, townhouse construction starts totaled a solid 141,000 homes, which is almost 5% lower than the prior.
Real Estate News
AUGUST 18, 2023
The law, which took effect July 1, prohibits “foreign principles” from a number of countries from buying real estate in Florida.
Housing Wire
AUGUST 17, 2023
Independent mortgage banks (IMB) reported an average net loss of $534 on each loan originated from April to June, down from $1,972 per loan in the first quarter of 2023, according to the Mortgage Bankers Association (MBA). The average pre-tax production loss was 18 basis points in Q2. Including both the production and servicing business lines, 58% of retail mortgage companies were profitable in Q2, up from 32% in the first quarter of 2023.
Inman
AUGUST 18, 2023
Barbie is having a moment right now — at the box office, on fashion runways and even in home design and real estate marketing.
Eyes on Housing
AUGUST 16, 2023
Single-family built-for-rent construction has cooled as investor interest has pulled back on tighter financial conditions. According to NAHB’s analysis of data from the Census Bureau’s Quarterly Starts and Completions by Purpose and Design, there were approximately 20,000 single-family built-for-rent (SFBFR) starts during the second quarter of 2023.
Real Estate News
AUGUST 15, 2023
Keller kicked off KW’s Mega Camp with a message for agents: “If you do the work, you will have a great real estate year, regardless of the market.
Housing Wire
AUGUST 17, 2023
Bank of America (BofA) prevailed in a court case brought against it by Cook County , Illinois , which sued the bank alleging predatory mortgage loans to Black and Hispanic borrowers in the Chicago area. The news was first reported by Bloomberg Law. Cook County initially sued BofA and other banks in 2014, alleging that the company had violated the Fair Housing Act in making credit too easily available to borrowers in the Chicagoland area with mortgages the county described as “unchecked or improp
Inman
AUGUST 17, 2023
CEOs, reality TV personalities, your favorite TikTokers and agents in the trenches all converged in Vegas to share their pro tips, hot takes and even more heated debates. In case you missed it, here are the top takeaways for your team.
Eyes on Housing
AUGUST 18, 2023
NAHB’s analysis of Census Data from the Quarterly Starts and Completions by Purpose and Design survey indicates custom home building gained market share during recent quarters but experienced a drop for construction starts. There were 49,000 total custom building starts during the second quarter of the year. This marks almost an 8% decline compared to the second quarter of 2022, consisting with.
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