California’s home insurance crisis is just beginning
With private insurers leaving — and a state-backed program on the hook for billions in payouts — owners may struggle to protect their high-risk homes.
January 23, 2025
AJ LaTrace
Director, News Reporting
AJ has covered real estate for the last decade as a reporter and editor for publications including Vox Media's Curbed, Chicago magazine and Business Insider. At Business Insider, AJ led the brand's coverage of how everyday people invest in real estate as a means of gaining financial independence, and he reported on big-picture trends and pain points in the broader U.S. real estate market. AJ is based in Chicago, where he also moonlights as a small-time landlord.
- Assessing the housing damage in LA: Costliest fires ever?Damage estimates are as high as $50 billion with thousands of properties destroyed, containment elusive and at least five people killed.January 9, 2025
- Sherry Chris moves to NAR, will serve as executive advisorJust two weeks after leaving Anywhere, the industry veteran has taken on a new role supporting National Association of Realtors CEO Nykia Wright.January 6, 2025
- NAR membership dips below 1.5M — will losses continue?After remaining largely stable during the second half of 2024, recent threats from agents and local associations could result in further declines this year.January 3, 2025
- HUD: Housing programs crucial as homelessness reaches new highsA new report found that homelessness in the U.S. increased 18% over the past year due to high housing costs, natural disasters and migration.December 31, 2024
- Quotable moments from a year of notable changeSee what leading industry influencers shared exclusively with Real Estate News on topics spanning commissions lawsuits, NAR, and brokerage and MLS success.December 31, 2024
- Homeowner survey: Return to the office — or quit?In a recent poll, 37% of remote workers said they would look for a new job if asked to come back to the office full time, citing the commute as a key factor.December 27, 2024
- NAR responds to ‘myths’ in New York Times ‘dark money’ storyThe association shared “a comprehensive fact check” rebutting claims of political bias and questionable financial practices related to an affiliated nonprofit.December 10, 2024
- New York Times targets NAR again, this time over political influenceA new report shines light on NAR’s American Property Owners Alliance and raises issues around transparency and the ethics of partisan spending.December 9, 2024
- Controversial sale-leaseback proptech EasyKnock shuttersThe company had been mired in lawsuits from customers in Texas and Michigan and had also received scrutiny from different state attorneys general.December 9, 2024
- The US needs more housing — and agents are key advocatesChronic undersupply has led to an affordability crisis, but real estate professionals can help by supporting new development in their communities, experts say.November 22, 2024
- Corcoran gains 400+ agents with new DC-area affiliateThe luxury-focused firm announced its first franchise in the D.C. metro, which will boost its total agent count and number of offices by nearly 10% each.November 20, 2024
- Phoenix association offers MLS access without Realtor membershipThe new, lower-cost program also includes access to legal forms and training, and is being rolled out as NAR’s three-way agreement faces greater scrutiny.November 19, 2024
- NAR economists offer dire warnings about inventory, ratesIf home price growth continues at the current pace, “America will be completely divided,” said Chief Economist Lawrence Yun. The solution? “More supply.”November 14, 2024
- eXp’s CEO on Clear Cooperation: You can’t take but not giveWant to repeal the CCP? Then you shouldn’t be able to build your own listing networks while pulling from the cooperative MLS feed, says eXp CEO Leo Pareja.November 13, 2024
- Search by beds, baths — and who your neighbors voted forHome listings on the Flyhomes search portal now show the breakdown of recent presidential and congressional voting trends in any given community.November 6, 2024
- Today’s buyers look vastly different from a generation agoNAR’s annual profile of homebuyers, which includes several new records, illustrates just how hard of a market it’s been for would-be homeowners.November 4, 2024
- CoStar scores a win, but Move has another playA federal judge granted CoStar’s request to dismiss two claims from the Realtor.com trade secrets case, but Move plans to proceed with an amended complaint.October 30, 2024
- Be wary of industry players ‘attempting to sow chaos’In a livestream presentation, Anywhere’s Sue Yannaccone warned of misinformation around Clear Cooperation and encouraged agents to share their views.October 17, 2024
- Pocket listings lawsuit now focused solely on NARIn a fourth amended complaint, Top Agent Network has doubled down on its allegations that Clear Cooperation is anticompetitive and anti-consumer choice.October 4, 2024
- NAR tells sellers they don’t have to list on the MLSIn its latest consumer guide, the association offers general education about MLSs while alluding to the ongoing debate over its Clear Cooperation Policy.Updated December 16, 2024
- CoStar tallies win in ongoing Realtor.com trade secrets suitA U.S. District Court judge has denied Move’s request for a preliminary injunction and questioned claims of “irreparable harm” to Realtor.com.September 23, 2024
- MoxiWorks rolls out settlement-friendly agent productsThe company said its product suite has “been upgraded so buyer's agents can more quickly and easily display their value” — and see compensation offers.September 4, 2024
- Buyers beware: Some agreements appear to violate NAR termsA new report calls out numerous state associations for buyer agreements that could hurt consumers or break the new rules.August 27, 2024
- Anywhere encourages offers of comp, asks ‘big question’ of MLSsTop execs discussed how the company is addressing industry practice changes, including its intention to display compensation on its listings.August 22, 2024
- It’s official: Nykia Wright named NAR CEOThe transformative newspaper exec moves into the permanent CEO role at the National Association of Realtors — the U.S.’s largest trade association — this week.August 19, 2024
- Housing costs become top economic issue in presidential raceVP Kamala Harris announced a plan to provide thousands in down payment assistance and incentivize more construction at the local level.August 16, 2024
- Redfin touts ‘very competitive’ buyer agent feesCEO Glenn Kelman laid out what changes consumers could expect when working with the company’s agents, but his message was light on fee details.August 15, 2024
- ‘Buyer agency is not dead’ — but ‘the old way’ isIn a webinar for agents, Real’s president discussed rule changes and best practices, noting that more than a third of agents don’t even know about the lawsuits.August 15, 2024
- eXp toolkit prepares sellers, agents for practice changesThe brokerage, which received praise for its new buyer and seller agreements, is sharing forms and scripts related to concessions and buy-side compensation.August 5, 2024
- A closer look at the trade secrets driving the Move-CoStar lawsuitMove Inc. lawyers said that a former employee who went to work for CoStar accessed Realtor.com’s proprietary document containing future plans for articles.August 2, 2024
- eXp reports strong revenue in lead-up to industry transitioneXp showed growth in revenue and transactions as execs pitched the company’s value prop ahead of August 17 rules changes mandated by the NAR settlement.August 1, 2024
- eXp overhauls listing agreement, invites industry to use itTo align with the NAR settlement, eXp has issued a new listing form that explicitly states that there is no commission sharing with a buyer's agent.July 27, 2024
- Move and CoStar exchange barbs in trade secrets caseThe former Realtor.com employee at the heart of the case responded to the accusations, while lawyers for both companies complained of leaks and delays.July 26, 2024
- Buyers backing out of deals in record numbers as market shiftsUpward of 56,000 home purchase contracts — nearly 15% of all such contracts from June — were canceled, a new report found, largely due to affordability issues.July 24, 2024
- CoStar reports higher revenue, defends traffic numbersCEO Andy Florance touted the growth of Homes.com and said its traffic data source was more reliable, comparing it to “election results” versus “polls.”July 23, 2024
- Home prices hit a new high even as sales fallAt $426,900, the median sale price for existing homes set another record in June, but inventory also rose, suggesting a “slow shift” to a buyer’s market.July 23, 2024
- Broker sees uncertain future for MLSs and associationsThere’s “going to be a point at which it doesn't make sense to belong” to small, local MLSs, one broker-owner — and member of 7 MLSs — told Real Estate News.July 23, 2024
- Colorado official: Buyer contracts can’t be required for home toursA letter to the state’s Realtor association also calls out consumer complaints about being “ensnared in contracts with brokers” they don’t want to work with.Updated July 23, 2024
- Consumer watchdog shares its recipe for buyer agreementsAfter criticizing many agreements as “unfair,” The Consumer Federation of America has compiled a list of best practices for the industry.July 16, 2024
- Move sues CoStar, alleges employee ‘spied’ to boost Homes.comRealtor.com’s parent company claims an ex-employee logged into its systems “at least 37 times” and “stole confidential business information” to benefit CoStar.July 3, 2024
- C.A.R. responds to harsh criticism of its buyer agreementThe California association said the Consumer Federation of America’s assessment was “misguided” and that its forms will be fully compliant.June 28, 2024
- A tale of two buyer agreements, and why one triggered the DOJThe Consumer Federation of America blasted C.A.R.’s agreement but praised eXp’s contract. A CFA Fellow told Real Estate News he was “stunned” by the contrast.Updated December 23, 2024
- Buyers get a slight reprieve as rates fall, sellers cut pricesThere could be a window of opportunity for would-be buyers as mortgage rates continue to ease and homes sit on the market longer, prompting price cuts.June 20, 2024
- Nick Bailey: 5 lessons for leaders of public real estate companiesBailey, the former CEO of RE/MAX, discussed the keys to success when leading a business that is accountable to both customers and shareholders.June 13, 2024
- Flyhomes takes on portal giants with ‘incomparable’ techThe company is launching a new AI-backed home search that CEO Tushar Garg claims is “far ahead of everybody else” in terms of data and tech.June 11, 2024
- US homeowners saw equity soar to near-record highsAccording to a new CoreLogic report, the typical homeowner saw their home equity increase by $28,000 over the past year.June 7, 2024
- Offerpad flips the script by offering agents listings, not buyersCEO Brian Bair discusses the iBuyer’s push to expand agent programs and its strategy for success in a post-settlement future.June 5, 2024
- Commission-sharing sites are cropping up — will they last?MLSs will no longer display offers of compensation, but some online startups say they have workarounds that comply with new rules. The DOJ may disagree.June 3, 2024
- Pending home sales slump as mortgage rates riseAfter dipping below 7% last week, interest rates ticked back up, while pending sales hit a four-year low.May 30, 2024
- Glenn Sanford and eXp dismissed from misconduct caseRecruiter Brent Gove has also been dismissed from the lawsuit involving allegations of sexual assault, while Michael Bjorkman’s motion to dismiss was denied.May 28, 2024
- Home prices continue to reach new highsThe latest Case-Shiller index reported another record high, with U.S. home prices increasing 6.5% year-over-year in March.May 28, 2024
- Survey: Buyers are putting their home search on holdIn a Bright MLS poll, most agents said they recently worked with a buyer who gave up on finding a home, but many still expect buyer activity to remain high.May 25, 2024
- Real Brokerage revenue up 86% as agent count soarsThe company remains on a rapid-growth trajectory, but net losses also increased this quarter, largely due to a recent commissions lawsuit settlement.May 7, 2024
- Zillow revenue up thanks to big gains in rentals and mortgagesThe company reported better-than-expected revenue of $529 million in Q1 — a 13% improvement from a year ago — and hinted at further monetizing its audience.May 1, 2024
- Glenn Sanford: ‘Our real goals are not domestic’During the T3 Leadership Summit, the eXp founder discussed some of his early challenges, the need for internal disruption, and his international ambitions.April 25, 2024
- NAR deal ‘could be detrimental’ to Black agents, buyersIn a conversation with Real Estate News, Dr. Courtney Johnson Rose of NAREB discussed the pros and cons of the recent settlement and upcoming rule changes.April 25, 2024
- Anywhere focused on cost-cutting as revenue holds steadyRevenue and agent count dipped slightly, but the company highlighted the strength of its Sotheby’s brand and its progress toward a $100 million savings goal.April 25, 2024
- Zillow CEO: ‘Keep your head down and deliver for your customers’At the T3 Leadership Summit, Rich Barton discussed what’s in store for Zillow and the industry — and encouraged the audience to “resist the urge to chaos.”April 24, 2024
- Investors feeling optimistic, buying record share of homesA pair of new reports look at the role investors played in the housing market last year and offer insights into their current outlook and pain points.April 9, 2024
- Beverly Hills agent and TV veteran remembered as ‘a force’Jennifer Berman most recently served as COO of Direct Offer and was a cast member on the CNBC series “Listing Impossible.”April 5, 2024
- Compass acquires longtime New Orleans independent Latter & BlumThe acquisition of the century-old firm and its 3,100 agents could give Compass an edge in the NOLA and greater Gulf Coast market.April 3, 2024
- It's cheaper to rent than buy in nearly every big cityA new report from Realtor.com looks at the cost gap between renting and owning and finds that many markets are now significantly more favorable to renters.March 26, 2024
- What agents need to know about commission rule changesAs a part of its proposed settlement, NAR agreed to significant policy changes that will impact how all agents do business — and how buyer agents get paid.March 15, 2024
- Agent optimism up as new listings surgeA national survey of 1,900 real estate agents found that most are anticipating a good market in the coming six months.March 14, 2024
- eXp paid out more than $230M in rev share and stock last yearIn a new compensation report, eXp said it paid agents and brokers nearly $198 million in revenue share and $34.7 million in EXPI shares.March 13, 2024
- Precarious post-verdict market, competition a threat to ZillowA Wall Street hedge fund manager is sounding the alarm on Zillow’s market dominance, suggesting that its revenue and traffic are at risk.March 6, 2024
- Latest filings in eXp case allege top execs put ‘profit over safety’In an amended complaint, plaintiffs in a sexual assault case describe the defendants’ roles in the misconduct and ask for a new trial date.March 4, 2024
- Keller to buyer agents: Explain your value or ‘get the hell out’Keller Williams’ charismatic co-founder kicked off the Family Reunion event with his hot takes on the housing market “winter” and how to get through it.February 27, 2024
- A strong start to the year for new home salesSales of new homes rose in January and inventory remained robust. Median prices were up even as some builders continue to offer buyer incentives.February 26, 2024
- Investors buying a bigger share of affordable homesWhile overall activity softened last quarter, real estate investors flocked to Chicago and cities in California in the hunt for lower-priced properties.February 16, 2024
- ‘Lifeline’ grants aim to increase homeownershipFreddie Mac and Chase have made recent changes to their down payment assistance programs which could help more low-income buyers enter the market.February 6, 2024
- Redfin sweetens the deal for buyers who sign agreementsThe new “Sign & Save” program offers buyers a rebate if they sign a buyer agreement with Redfin and go under contract on a home within six months.February 2, 2024
- Mortgage rates dip slightly as Fed continues its pauseRates have remained relatively stable since December, with the average 30-year mortgage rate posting a modest decline this week.February 1, 2024
- Home prices continued to rise in NovemberPrices improved 5.1% annually, the latest Case-Shiller report indicates, but a small dip between October and November ended a streak of monthly gains.January 30, 2024
- Offerpad providing new incentives for agents who bring clientsThe iBuyer has introduced two new tiers in its agent partnership program, which provide up to 4% in referral fees and access to more sell-side deals.January 29, 2024
- Layoffs at eXp? 35 employees ‘venturing into new opportunities’In a LinkedIn post, eXp’s EVP of People implied that nearly three dozen people had been laid off. The company later acknowledged "a small reorganization."Updated January 26, 2024
- Pending home sales see healthy bump after record lowsThe uptick in pending homes is a “promising” sign of life in a market that has been sidelined by low inventory and high home prices.January 26, 2024
- Existing home sales haven't been this low since 1995According to the latest NAR data, just 4.09 million existing home sales were reported in 2023, the lowest number in nearly three decades.January 19, 2024
- Real gets into the ‘brokerage as a service’ businessThe brokerage’s new Private Label initiative gives teams access to Real’s platform and revenue sharing model while maintaining their independent brand.January 10, 2024
- Home price index up more than 5% in NovemberAccording to the latest CoreLogic report, the Midwest and South saw the highest home price growth, and a handful of states posted double-digit gains.January 9, 2024
- Home sales up after 5 months of declinesBefore making a small gain in November, existing home sales had been on a downward trajectory since July.December 20, 2023
- What happens with mortgages if there’s a recession?Even if the hoped-for economic “soft landing” isn’t so soft, don’t expect to see a wave of short sales and foreclosures next year.December 18, 2023
- New details in eXp sexual assault claims revealed by New York TimesFive women told the Times that it took a lawsuit to get action on predatory behavior. A second lawsuit has been filed, and eXp said that it let “bad actors” go.December 15, 2023
- The Ten: Looking back on a year of mortgage rate madnessWhile high borrowing costs brought the market to a halt in 2023, there are signs that mortgage rate relief is coming in 2024.December 12, 2023
- KW Command updates include generative AI copywriting for adsKeller Williams also announced automated market snapshots and additional features as its CRM platform joins others in adding ChatGPT-powered capabilities.December 6, 2023
- Seattle-area brokerage quits NAR, on ‘right side of the story’Coldwell Banker Danforth broker/owner says he’s not against NAR, but that he wants agents to be able to decide for themselves if they join or not.December 4, 2023
- Pending home sales drop to lowest level on recordNationally, pending sales slid 1.5% in October as mortgage rates spiked and buyers retreated.November 30, 2023
- Zillow facing a ‘battle of the titans’ in 2024With Homes.com in investment mode, Realtor.com and Redfin are reshaping themselves in pursuit of the top spot among home search portals, T3 Sixty experts say.November 29, 2023
- Existing home sales take biggest hit of the yearOctober home sales slid 4.1%, representing the steepest single-month decline in 2023 so far.November 21, 2023
- We want to be No. 1 with ‘no tricks,’ Realtor.com CEO saysIn response to Homes.com’s huge traffic growth, Damian Eales said “poor-quality audience and stunts lead to low-quality leads.”November 17, 2023
- Commissions battle ‘far from over’ says NAR presidentDuring her NAR NXT keynote, Tracy Kasper tackled the big issues facing the association, including the Sitzer/Burnett verdict and sexual harassment accusations.November 14, 2023
- eXp confirms ‘bad actors’ fired were defendants in sexual assault caseDuring the company's recent earnings call, CEO Glenn Sanford was asked about ongoing litigation that claims eXp ignored a pattern of sexual misconduct.November 8, 2023
- New home sales climb as prices fallThe median sale price for new homes dropped more than 12% in the last year, while sales shot up, outpacing inventory.October 25, 2023
- Real Estate Board of New York to decouple buyer agent commissionThe board wrote that this change, which takes effect in January, “represents the future of how residential real estate is transacted.”October 20, 2023
- Ex-Zillow CEO: NAR lawsuits ‘a seismic event’ for agents, portalsSpencer Rascoff said home search portals may need to pivot in a world where buyers agents are no longer paid via the listing agent’s commission.September 1, 2023
- Demand for land is hot, hot, hotMore than half of the land brokers in a recent survey said the national land market is “hot” or “on fire.”August 7, 2023
- More listing opportunities may be on the horizonNearly a quarter of homeowners are considering selling in the next 3 years, according to a Zillow survey — a significant increase over prior surveys.August 4, 2023
- HELOCs now a riskier proposition for investorsHigh interest rates and economic uncertainty have made home equity lines of credit costlier and more precarious.August 1, 2023
- Zillow, Redfin build on partnership with new construction listingsThe two former rivals and popular home-search sites extend their connection beyond 3D Home, with Redfin calling Zillow listings “a new revenue opportunity.”August 1, 2023
