Real Estate Industry Overview & Trends
NYC-based Real Brokerage's Q2 revenue increased 65% year over year to $185.3M. Despite raising fees in Q1, its agent count grew 105% year over year, according to an earnings report
United Wholesale Mortgage, the nation's largest lender, also raised refinancing volume by 23% after being hammered by higher interest rates, according to Q2 earnings released Wednesday
Matterport posted second-quarter revenues of $39.6M — a 39% increase from the same period a year earlier that squeaked past analyst estimates of $39.2M, according to a Tuesday earnings call
At $4.55B, loanDepot's Q2 purchase loan originations were up 30% from Q1, thanks in part to the seasonal boost provided by spring homebuyers, but down 52% from a year ago
'Significant progress' in Federal Trade Commission negotiations have been reported since Black Knight's Empower loan origination system and Optimal Blue division were removed from the deal
Detroit-based mortgage giant returned to profitability during the spring homebuying season by slashing costs and boosting its market share in the face of severe inventory shortages
The partnership gives Ferry's network of real estate professionals access to the client satisfaction and retention platform, according to a statement
Regional banks have largely weathered the crisis fueled by this year's failures of Silicon Valley Bank, Signature Bank and First Republic Bank by pursuing mergers and boosting deposits through 3rd-party brokers
Joseph Magsaysay will join Compass' leadership as the brokerage looks to enhance its luxury presence in Silicon Valley. Magsaysay says he's developed a 'people first' leadership strategy
Mortgage giants Fannie Mae and Freddie Mac continued to grow their net worth as firm home prices and low default rates allowed them to release billions of dollars reserved for losses
The average price of homes sold to foreign buyers was $639,900, the National Association of Realtors said. The median price was $396,400. Both numbers are record highs
Daniel Kenigsberg alleges a series of fraudulent documents led to his land being stolen last fall before contractors built a single-family house on his half-acre of land in Connecticut
Having unloaded almost all of its older inventory, the iBuyer ramped up home acquisitions by 131%, to 840 homes, in the second quarter of 2023 and expects positive adjusted earnings by year's end
New construction listings on Zillow will now automatically be syndicated to Redfin. The companies believe the partnership will extend the reach of the homebuilders' listings while aiding consumers
A 35-home listing on Zillow has prompted debate over displacement and institutional investment — and pushback over a TikToker's claim that an 'entire neighborhood' was about to hit the market
CrowdStreet CEO Tore Steen ousted after $63M of investor money went missing in a deal that a fiduciary said had ‘plenty of red flags that are indicators of fraud,’ according to reports
Cory Shepard took the reins at the San Diego Association of Realtors last week after now-former CEO Michael Mercurio was accused of stealing over $1M in association funds, the complaint reads