Mortgage rates nosedive in fallout from Silicon Valley Bank failure
Bank failures and slowdown in wage growth have forecasters thinking the Federal Reserve will back off from aggressive rate hike campaign when it meets next week
by Matt Carter Mar 13
Silicon Valley Bank, proptech hub for real estate clients, collapses
In the most dramatic banking implosion since the Great Recession, regulators on Friday shut down the bank, which boasted ties to proptechs, including Airbnb, Opendoor and OJO
Latest jobs numbers take pressure off wages — and mortgage rates
The real estate industry got 2 kernels of good news in the latest jobs numbers from the US Bureau of Labor Statistics
by Daniel Houston Mar 10
Mortgage rates headed past 7% after Powell warns Congress on inflation
Futures markets are taking the Fed chair at his word that policymakers may have to hike rates faster and take them higher to combat inflation
by Matt Carter Mar 8
Knock Home Swap
Fannie Mae's National Housing Survey shows Americans were feeling less secure about keeping their jobs in February, and nearly 8 in 10 think it's a bad time to buy a home
by Matt Carter Mar 8
AI won't spell the end of real estate agents. A court decision will
Opinion
While many agents fear the replacement potential of AI, it may end up allowing the industry to continue working if the worst happens
by Chris Drayer Mar 8
Home price growth slows for 9th consecutive month in January
Annual home price growth dropped to 5.5% in the first month of 2023, but fell just 0.2% month over month, according to data released Tuesday as part of the CoreLogic Home Price Index
by Ben Verde Mar 7
US dominates the globe with most ultra-high-net-worth homeowners
The US notched 14 spots among 20 global cities in a new analysis of homeowners with a net worth of at least $30M. New York City clinched the top spot on a list compiled by REALM and WealthX
An economist teaches you how to answer the 'rent vs own' question
Opinion
It's one of the most popular questions you'll hear, especially from first-time homebuyers. Find out how to answer it expertly
by Matthew Gardner Mar 7
Rivals to allies: Foster healthy competition with these 4 rules
Healthy competition is the foundation upon which we strive to provide our clients with the highest level of customer service and care
by Carl Medford Mar 7
Pandemic-fueled 'lock-in effect' likely to limit new spring listings
Black Knight data shows new listing volume down 25% in January compared to pre-pandemic levels, the biggest drop since most of the country was in lockdown
by Matt Carter Mar 6
There are 1.25 million fewer million-dollar homes in America in 2023
The share of $1M homes in the US dropped from a high of 8.6% in June 2022 to approximately 7% in January, due in part to higher mortgage rates that have cut into homebuyer purchasing power
Rocket, UWM cut a combined 9,500 positions in 2022, new filings show
Companies say that instead of laying off workers, they're trimming their payrolls through attrition or by offering voluntary buyouts
by Matt Carter Mar 3
Home sale prices post annual drop for the first time in a decade
The median US home sale price declined marginally between February 2022 and 2023, clocking in at $350,426, according to new data released Thursday
by Ben Verde Mar 3
A gap in a concrete bridge
The National Association of Realtors said increasing the nation's inventory is 1 solution to address homeownership gap. The trade group is eying 3M net new Black homeowners by 2030
Steady home-price growth to resume in 2024, experts predict
Price growth will pick back up in 2024 and hit a rate of 3.5 percent annual growth every year through 2027, according to a panel of housing experts surveyed by Zillow and Pulsenomics
by Ben Verde Mar 2