eXp has sluggish fourth quarter but posts record annual revenue
The Washington-based real estate giant missed revenue estimates in Q4 but increased agent count to more than 86,000.
February 28, 2023
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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- Amazon employees get 'Better' option for home financingMortgage provider Better unveiled Equity Unlocker, which allows Amazon employees to pledge company stock toward a home purchase.February 28, 2023
- Values of Black-owned homes rose the fastest during the pandemicRelative to overall home values, Black home values fared well in recent years according to Zillow data. But the racial homeownership gap remains wide.February 25, 2023
- Home values have dropped from 2022 peak, opening doors for buyersA new Redfin report found the total value of U.S. homes has dropped $2.3 trillion since June 2022, with the biggest declines in the San Francisco Bay Area.February 24, 2023
- Higher mortgage rates could mean a 'nobody's market' this springMortgage interest rates climbed again this week, with the daily rate approach levels not seen since November.February 23, 2023
- eXp Realty named in sexual assault complaintThe complaint alleges that eXp Realty turned a “blind eye” to two agents who had a history of drugging and sexually assaulting women.Updated February 24, 2023
- Lower mortgage insurance premiums to reduce costs for first-time buyersThe government announced a plan to cut mortgage insurance rates by 0.3 percentage points, which could save eligible homeowners an average of $800 a year.February 22, 2023
- Consolidation means fewer MLSs and associations in 2023T3 Sixty's annual report on Organized Real Estate found a 7.6% drop in the number of MLSs and a 3.8% drop among Realtor associations since 2020.February 21, 2023
- At family-owned Windermere, relationships are a top priority for 2023Led by co-presidents OB Jacobi, Jill Jacobi Wood and Geoff Wood, the company continues to grow but strives to retain its family-oriented culture.February 21, 2023
- Gary Keller says 2023 will be a ‘very, very hard’ year in real estateDuring KW's Family Reunion event on Sunday, Keller talked about the state of the real estate market — which, he says, may get worse before it gets better.February 20, 2023
- Mutual of Omaha acquires Keller MortgageKeller Mortgage will continue to operate alongside existing divisions of Mutual of Omaha, with Gary Keller as co-owner.February 20, 2023
- Spring outlook still cloudy, but economists are cautiously optimisticAn upward trend in mortgage rates, after weeks of declines, has raised concerns about whether buyers will return. But pent-up demand may push them to act.February 18, 2023
- Real estate investors sat out the fourth quarterA recent report found a record drop investor purchases as interest rates rose and prices began to decline.February 17, 2023
- Real estate tech firm forges ahead with power buyer programThe software company zavvie has introduced its cash offer and buy-before-you-sell products to brokerages in 11 states, with plans to expand later this year.February 17, 2023
- Redfin revenues down 25% but better than expectedCEO and founder Glenn Kelman said the company is continuing to cut expenses and looking to increase the number of online visitors who hire Redfin agents.February 16, 2023
- Mortgage rates move in the wrong direction for would-be buyersInterest rates are up for the second week in a row, and signs point to further bumps. This could put a damper on the spring selling season.February 16, 2023
- Foreclosures creating ripples, but not wavesThe number of distressed properties remains well below pre-pandemic levels, thanks to a strong job market and federal moratoriums, but they're creeping up.February 16, 2023
- J. Lennox Scott is ready to grow: 'This is the start of the next 10-year cycle'Scott, chairman and CEO of John L. Scott Real Estate in the Pacific Northwest, said the market is poised to enter a new period of growth.February 16, 2023
- Zillow beats expectations with fourth quarter earnings resultsThe Seattle-based real estate giant reported revenue of $435 million, exceeding its estimate of $413 million.February 15, 2023
- Most new homes for sale are in an HOA — do buyers care?According to the U.S. Census, 82% of newly built homes sold in 2021 were a part of a homeowners association.February 15, 2023
