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LA fires upend rental market as residents scramble for housing

Housing Wire

Michael Nourmand, president of Beverly Hills-based Nourmand & Associates Realtors , said in an interview Wednesday with HousingWire that safety is the top priority. We’re seeing several landlords have increased their rents by 50%. “And it could even be higher. There’s a lot of renters who got displaced he said.

Marketing 501
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California attorney general cracks down on rental price gouging

Housing Wire

the office of California Attorney General Rob Bonta announced it was pressing charges against a second unnamed Realtor for price gouging. The attorney generals office said that the California DOJ has sent over 650 price gouging warning letters to hotels and landlords. But inventory is rising and conditions favor sellers in many areas.

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57 crucial real estate statistics that explain the 2025 market

Housing Wire

They have been gathered from reputable and distinguished sources, including Altos Research, the National Association of Realtors, Zillow, the Census Bureau and more to guarantee they are the most up-to-date, expert opinions in the biz. The market action index is 37, indicating that there is a slight seller’s advantage.

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Real estate industry is in flux after shocking guilty verdict in commission lawsuit trial

Housing Wire

It found the National Association of Realtors , HomeServices of America and Keller Williams guilty of collusion to maintain high commission rates. It’s yet to be determined what this means for Realtors at this point,” Timothy Ray, the lead attorney for Keller Williams, told HousingWire in the Charles Evans Whittaker U.S.

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Here’s how to find property owners ready to sell

Housing Wire

Access to property data and an ability to efficiently target prospective sellers can give agents and brokers a competitive edge in this low-inventory environment. PropStream’s data gives agents and brokers insight into what’s going on with a property before they approach a prospective seller.

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Santa Monica: An unexpected haven for first-time buyers

Housing Wire

In March, first-time buyers were responsible for 32% of sales, up from 26% in February and 28% a year prior, according to data from the National Association of Realtors. Cilic added that some would-be sellers are choosing to become landlords instead, renting out their properties with 3% interest rates.

Buyers 448
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What are the drivers of housing demand in 2022?

Housing Wire

Younger millennials may have also helped as they moved back home during the pandemic at record numbers, thus skipped paying market value rent to a landlord. In the latest Realtors Confidence Survey , 88% of buyers purchased in a suburban, small town or rural area. This is up from 85% one year ago. Familial dynamics.

Buyers 488