A bright spot in a sluggish market: New homes are hot
New home sales jumped 10.6% in July as builders took advantage of lower mortgage rates and used incentives to close deals.
August 23, 2024
Dave Gallagher
Director, News Reporting
Dave's journalism career spans 24 years covering business, the economy and real estate in Northwest Washington. He's also a numbers nerd, examining data to spot emerging trends in industries. Having started his career as a sports writer, he's a lifelong baseball and soccer fan and recently discovered pickleball. He grew up in Yosemite National Park and earned his journalism degree at Humboldt State University in northern California.
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- DOJ files antitrust lawsuit against RealPageThe federal agency claims that the rental software company’s product is keeping rents high and stifling competition.August 23, 2024
- Flat-fee brokerage sues NAR, alleges steeringHomie says the defendants — NAR, 4 top brokerages and a Utah MLS — conspired to control competition in the industry and steered buyers away from its listings.August 22, 2024
- Mortgage rates still not low enough to spark buyer interestThe Fed is expected to cut interest rates next month, but it could take a big drop to spur a rebound in sales — though things are starting to look up.August 22, 2024
- How do the presidential candidates’ housing policies stack up?Redfin economists break down proposals from Harris and Trump and discuss their viability and what they might mean for housing supply, affordability.August 21, 2024
- Gibson attorneys seek one-third of the settlement potIn a court filing, lawyers called the nearly $37 million request “reasonable” and “appropriate” based on the risk and hours involved.August 21, 2024
- Real estate stocks jump as new rules go into effectRedfin and iBuyer companies had the biggest gains in a rally following the Aug. 17 deadline for practice changes.August 19, 2024
- Toughen up, and other key messages from KW leadersThis week’s Mega Agent Camp was part pep rally, part confidence booster during a time of change. “I don’t fear for real estate agents…the good ones will adapt.”August 16, 2024
- Should more MLSs join forces, share data — or go it alone?Consolidation has slowed, and data sharing is on the rise. Some members fear more competition for listings, but for MLSs, it’s “an expansion-based opportunity.”August 16, 2024
- Home tours, refis on the rise, but purchases remain tepidMortgage rates were relatively flat this week, remaining just under 6.5%, but buyers appear to be biding their time and waiting to see if rates fall further.August 15, 2024
- Keller and Florance on ‘phenomenal’ market share, Homes.com futureDuring Mega Agent Camp, CoStar CEO Andy Florance discussed KW's strong performance on the search portal and how CoStar got its “Death Star” nickname.August 14, 2024
- Gary Keller on winning in a market that’s ‘as bad as it gets’The Keller Williams co-founder told a crowd of the faithful that he sees a soft landing for the economy and success for agents who are "ready to jump" in 2025.August 13, 2024
- Michigan agents sue NAR over mandatory membership ruleThe plaintiffs say they shouldn’t have to join NAR and other associations to access the MLS, especially if buyer-broker compensation is no longer guaranteed.August 12, 2024
- As revenue falls, is it time for RE/MAX to rethink its model?Agent count has also continued to decline, and CEO Erik Carlson said they are looking at all aspects of their business in preparation for an industry rebound.August 9, 2024
- HomeServices' $250 million settlement moves forwardPreliminary approval of the deal was granted on Aug. 8, with a final hearing set for Nov. 26. Plus, Batton 2 plaintiffs respond to motions to dismiss.August 8, 2024
- Mortgage rates tumble, but where are the buyers?The 30-year mortgage fell to its lowest level since May 2023, which “should begin to pique their interest in making a move” — but buyers might not be ready.August 8, 2024
- Zillow continues to outperform industry, beat expectationsRevenue was up 13% in Q2, and the company — now with a new CEO — said it's in a strong position: “We have the most customers, we work with the best partners."August 7, 2024
- Are consumers giving up on homebuying?The latest sentiment survey from Fannie Mae shows declining optimism, with more consumers now saying they plan to rent when they make their next move.August 7, 2024
- Redfin is ramping up for a reboundCEO Glenn Kelman says the company's lower-fee model will attract consumers who are now more aware of commissions: "We can use price as a weapon to gain share."August 6, 2024
- Settlement in the works in buy-side commissions caseA court filing indicates that Chicago-based At World Properties is nearing a deal in a lawsuit brought by an Illinois homebuyer.August 6, 2024
