Builder confidence slides as mortgage rates climb back to 7%
After seven consecutive months of improving confidence, homebuilders were feeling less optimistic in August.
August 16, 2023
AJ LaTrace
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.
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- Nearly 60% of major metros saw home prices rise last quarterMany of the biggest annual price gains were in the Midwest, with Fond du Lac, Wisconsin, leading the way with a 25.3% gain.August 10, 2023
- Opendoor's future is looking a little brighterA more ‘judicious’ and partner-focused Opendoor will help the company succeed in the wake of significant losses and layoffs.August 10, 2023
- RE/MAX CEO: Don't expect to 'get rich off somebody else's back'At a conference this week, Nick Bailey said the company’s value lies in its strong brand identity and agent experience — not downlines or profit sharing.August 8, 2023
- Record-high home prices are back in many metrosA new Black Knight report reveals major gains in the Midwest and Northeast, signals an end to the U.S. housing correction.August 7, 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
- As revenue falls, Opendoor returns to profitabilityThe top iBuyer hopes scaling home purchases, improving margins and leveraging partnerships will continue fueling its return to positive net income.August 3, 2023
- Offerpad revenue down more than 60% but profits are upThe iBuyer reduced losses and acquired more homes over Q1, but sales and revenue dipped significantly.August 2, 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
- Pending home sales ticked up in JuneThe 0.3% gain is the first increase in four months, NAR reported, suggesting that “the housing recession is over.”July 27, 2023
- New home sales dipped in June but are well above levels from a year agoPrices also fell slightly, nearly closing the gap between new and existing home prices.July 26, 2023
- Home prices rise 4 months in a rowThe Case-Shiller index for May shows steady home price growth since January and a slight dip compared to this time last year.July 25, 2023
- Florida and Texas markets are slowly regaining some balanceAfter heating way up over the past few years, prices and inventory in two of the most populous states are showing signs of stabilizing.July 24, 2023
- NAR 'confident' in the face of challenges to compensationThe association believes it will prevail in court, but also “highly encourages agents to use buyer broker agreements.”July 21, 2023
- Existing home sales are down, prices are way upNAR reported that existing home sales fell in June and dropped nearly 19% year-over-year. But median sale prices reached a near-record high.July 20, 2023
- Homes.com traffic up 200% — could it become a top portal?Zillow's site visits were up, but the portal lost market share while Homes.com and Redfin made gains, and Realtor.com slumped.July 19, 2023
- Pennsylvania broker-owner: Small MLS ‘fiefdoms’ hurt agents and clientsBroker-owner Adam Conrad of Perry Wellington Realty describes the challenges of navigating seven different MLSs as the slow journey to consolidation continues.July 15, 2023
- Realtor income (and expenses) up, inventory is top pain pointNAR's annual member profile found that agents earned more and upped their sales volume despite the market slowdown, while transaction sides held steady.July 14, 2023
