Cooling rental market means more concessions for renters: Zillow
A 50-year high in multifamily building starts and completions has led to cooling rent growth and better lease terms. In July, 33.2% of rentals on Zillow included concessions, up 23% from 2023
by Marian McPherson Aug 12
The market is harder for millennials than it was for boomers: Report
A new report in 'The Wall Street Journal' found that baby boomers had an easier time navigating real estate market challenges in the 1980s than millennials do today.
by Taylor Anderson Aug 12
Miami investors lose another hotel to foreclosure auction
In the same week that the investment firm lost the Waldorf Astoria in Washington DC to a foreclosure auction, CGI Merchant also had to let go of the Gabriel Miami in a second auction
by Lillian Dickerson Aug 12
Can you survive the squeeze from 2% commissions? The Download
The Consumer Federation of America raised eyebrows and hackles with its advice to pay only the equivalent of a 2% commission for both real estate purchases and sales
by Christy Murdock Aug 10
Offerpad confirms layoffs after ‘restructuring’ amid down market
The iBuyer declined to confirm how many employees have been let go. Recent SEC filings show widespread cuts compared to a year earlier
by Taylor Anderson Aug 9
Falling rates pique buyers' interest, but not their pocketbooks
A surprise drop in mortgage rates got homebuyers off the sidelines and into home tours. However, affordability and recessionary concerns have kept buyers from making purchases
by Marian McPherson Aug 9
Expedia adjusts H2 projections despite revenue growth
The firm reported total lodging bookings of $20.7B for Q2 across all of its platforms
by Richelle Hammiel Aug 9
NAR: Settlement mandates 'benefit' buyers and sellers
Consumer guides from the trade group offer a contrast to previous messaging, but also continue to promote pre-emptive offers of compensation to buyer agents
RE/MAX agent count drops as revenue falls for 8 straight quarters
Franchisor reported its US agent count fell 6.3% during the second quarter as revenue fell 4.8% compared to a year earlier, according to its earnings report
by Taylor Anderson Aug 8
Realtor.com revenue drops 2% as traffic, lead volume remain flat
Realtor.com parent company Move Inc. saw its fiscal Q4 revenue decrease 2% yearly to $143M as traffic to the site stalls at 74M average monthly unique visitors
by Marian McPherson Aug 8
Ultra-luxury sales show resilience, up 3.9% from last year
Ultra-luxury sales in coastal enclaves and ultra-luxury hotspots bolstered sales beyond those of last year, according to a report released by Compass this week
by Richelle Hammiel Aug 8
Douglas Elliman sees revenue tick up in Q2 2024
The company's improved financial results no doubt came as a sigh of relief, as Elliman faced increasing pressure from shareholders because of its shaky performance in recent quarters
Mortgage rates bounce back before homebuyers can pounce
The big drop in mortgage rates did more to spur refinancing than homebuying, according to a weekly survey of lenders by the Mortgage Bankers Association, and now rates are rising again
by Matt Carter Aug 7
Zillow Group names Jeremy Wacksman as new CEO
After 5 years back at the helm, Zillow Group co-founder Rich Barton steps down as CEO. Former COO Jeremy Wacksman takes the reins as the company charges past 'Portal 1.0'
by Marian McPherson Aug 7
Most Americans weren't expecting the big drop in mortgage rates
Fannie Mae survey shows would-be homebuyers grew even more frustrated with elevated home prices and mortgage rates in July, but 7 in 10 didn't think rates would come down anytime soon
by Matt Carter Aug 7
'Hidden' homeownership costs locking potential buyers in place
Households have deferred moving, partially due to high 'hidden' homeownership costs such as property taxes, insurance and climate change, according to a report
by Richelle Hammiel Aug 7