A small home with a baby stroller in front
The annual paycheck for a 1st-time homebuyer is roughly $64,500 to afford the typical US 'starter' home in 2023 — up 13% from a year ago, according to a report from Redfin
by Ben Verde Jul 28
Fed sending US into a 'category 5 hurricane,' Barry Sternlicht says
Starwood Capital Group Chairman and billionaire real estate investor Barry Sternlicht claims Fed inaction has all but ensured a recession is on the way. 'Nobody wants to sell anything today'
by Taylor Anderson Jul 28
Texas adjusts to growing pains as outside buyers jockey for homes
With an influx of tech and entertainment giants like Tesla and Universal Studios, not to mention a rising tide of millennial buyers, Texas is bursting at the seams as agents rush to find new listings
by Marian McPherson Jul 28
Texas surged during COVID. Now, its luxury markets are being tested
Droves of people have flocked to Texas for new jobs, tax and affordability purposes, and political reasons, and demand from this new class of wealthy buyers is stretching luxury inventory thin
by Lillian Dickerson Jul 28
Has Compass cracked the repeat and referral code? The Download
On today's Download, check out Compass' new tracker tool, then check out some of our best recent advice on keeping those past clients percolating through your pipeline
by Christy Murdock Jul 28
Mortgage delinquency fell to an all-time low in May: Data
For the month of May, 2.6% of all mortgages in the US were in some stage of delinquency, a 0.1% decrease from the levels seen a year before, according to data from CoreLogic
by Ben Verde Jul 27
Harvard: Immigrant communities will save American homeownership
As economic headwinds push native-born population and household formation growth down, Harvard researchers say immigrants hold the key to the housing market's future
by Marian McPherson Jul 27
US economy avoids recession yet again — no thanks to real estate
With the gross domestic product eclipsing expectations in Q2, the US appears to have avoided a long-predicted recession, even as the real estate industry remains mired in a deep contraction
by Daniel Houston Jul 27
Pending home sales post first increase since February
Homes under contract inched up 0.3% between May and June to a measure of 76.8 on the Pending Home Sales Index, according to data released Thursday by the National Association of Realtors
by Ben Verde Jul 27
'Fight it tooth and nail,' LA agents warn as Chicago mulls mansion tax
As Chicago Mayor Brandon Johnson narrows in on a 2.65% tax on purchases of properties over $1M, luxury real estate agents in Los Angeles offered their advice to concerned Windy City agents
by Lillian Dickerson Jul 27
After pausing in June, Fed hikes rates to highest level since 2001
Fed Chair Jerome Powell and company keep their options open for another rate hike in September, but futures markets investors and some economists think the Fed is probably done hiking rates
by Matt Carter Jul 26
New-home sales wilt in June but remain elevated amid low inventory
New-home sales drooped 2.5% from May to a seasonally adjusted rate of 697,000 — 23.8% higher than June 2022, according to data released Wednesday by the US Census Bureau
by Ben Verde Jul 26
Will the second quarter of 2023 match real estate's Q1 meltdown?
Major real estate companies began reporting Q2 earnings this week against a backdrop of high rates, low inventory and a sluggish economy. Analysts shared what they're watching with Intel
by Jim Dalrymple II Jul 26
Demand for mortgages wanes as rates plateau near 2023 highs
A decrease in applications for FHA loans popular with first-time homebuyers helped push the average purchase loan application to $432,700, according to the latest MBA lender survey
by Matt Carter Jul 26
Stop paying 35-40% to the portals for leads
Instead of throwing away money on paid leads month after month, find out how to generate both buyer and listing leads at little or no cost
by Bernice Ross Jul 26
How Harvard's housing report sees the current (and future) market
Opinion
With natural growth slowing, states will need to attract new residents from other markets as domestic migration becomes a more important driver of household growth and housing demand
by Matthew Gardner Jul 26