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Housing inventory is still at a crisis level

Housing Wire

So few single-family homes are for sale in America that just two months of inventory is available across the top 100 metro areas in the country, a historic low. In markets like San Diego and Los Angeles, any listing under $3 million on average takes less than three months to sell.

Inventory 448
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Compass CEO Reffkin: Fears over agent commissions ‘have simply not materialized’

Housing Wire

Compass also said it is not seeing any changes in new listings with regard to commission offers, whether on the Compass platform or on multiple listings services (MLSs). Technology continues to be top of mind for the company, as it laid out a vision for its proprietary platform.

Agents 448
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Real Estate Exchange files antitrust suit against Zillow, NAR

Housing Wire

REX, an Austin-based real estate startup, said Zillow’s new listing layout, which includes tabs entitled “agent listings” and “other listings,” positions its listings in a “recessed obscured, and deceptive tab that consumers do not see.” billion visits.

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U.S. Homes Selling at Slowest Pace Since 2019

Appraisal Buzz

Home Sales Slow as Prices and Inventory Rise Due to the high cost of purchasing a homemortgage rates are close to 7%, and housing prices are rising 4.8% As new listings increase and mortgage rates declineat least somewhatfrom their peak in early January, the market should pick up steam in the upcoming weeks. year-over-year.

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Japanese builder Sekisui House to acquire MDC for $4.9B

Housing Wire

faces house inventory challenges. According to Mike Simonsen, president and founder of Altos Research, “Home sellers are starting to ease back into the market,” and “new listings are finally exceeding the levels of a year ago.” The transaction comes when the U.S. That’s a 1.2%

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Georgia MLS unites with 12 local boards to enhance data access

Housing Wire

This agreement connects more than 55,000 agents to a large inventory of properties under a single system. Georgia MLS said the move will “improve market transparency and provide real estate professionals with the listing information they need to better serve their customers.”

Realtors 388
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Buyers Touring More Homes as Rates Drop to 12-Month Low 

Appraisal Buzz

According to a recent study from Redfin , the technology-powered real estate brokerage, mortgage rates fell to a daily average of 6.34% on August 5, the lowest level since April 2023. New listings are regaining some of the drive they lost in the previous few weeks on the supply side.

Buyers 370