By the NumbersExisting 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.AJ LaTraceJuly 20, 2023
By the NumbersMortgage rates post biggest weekly drop in 3 monthsThe 30-year fixed-rate mortgage averaged 6.78% this week, down from nearly 7% a week before, suggesting that cooling inflation is having an effect.Dave GallagherJuly 20, 2023
By the NumbersIt’s a tough market — but a profitable one for sellersThe latest ATTOM home sale report found that second-quarter profit margins rose for the first time in a year.Dave GallagherJuly 20, 2023
BrokeragesTop strategy exec returns to Compass after 2 years awayMark A. McLaughlin is back at Compass as the company’s chief real estate strategist. He left the company in 2021 to pursue consulting opportunities.Dave GallagherJuly 19, 2023
IndustryHomes.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.AJ LaTraceJuly 19, 2023
TechTech Bytes: News from 3 Western MLSs, InspectionGo, moreNWMLS launches app; New Mexico MLS adopts Aligned Showings; CRMLS updates member dashboard; iGo acquires products; Clear Capital integrates with ICE API; more.Real Estate News StaffUpdated July 19, 2023
By the NumbersBuilder confidence is up as more buyers opt for new homesWhile rising interest rates have slowed the rate of increase, confidence is at its highest level in more than a year.Dave GallagherJuly 18, 2023
By the NumbersForeclosures trending up but well below crisis levelsMore than 185,000 properties had foreclosure activity in the first half of 2023, up 13% from last year.Dave GallagherJuly 18, 2023
BrokeragesWhere things stand with the MV Realty lawsuitsThe company's "right to list" agreements gained national attention in December, and civil and legislative actions are ongoing.Robert DavisJuly 17, 2023
BrokeragesBrokers in Focus: Education, guidance key to agent successNatalie Grubb Campbell, who manages Village Properties alongside her mom, makes sure her agents are "equipped to handle any situation" in a changing market.Melissa KandelJuly 16, 2023
MLS/AssnPennsylvania 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.AJ LaTraceJuly 15, 2023
BrokeragesBrokerage Beat: News from Christie's, RE/MAX, Sotheby's Realty, E&VChristie's Sereno gains agent team; Dallas group joins RE/MAX; Premier Sotheby's Realty snags longtime CB leader; Engel & Völkers expands in Pittsburgh. Real Estate News StaffJuly 15, 2023
MLS/AssnRealtor 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.AJ LaTraceJuly 14, 2023
IndustryPeople On the Move at Offerpad and WindermereA new CFO joins Offerpad as the company looks to “accelerate its near-term growth,” and Windermere appoints a longtime leader as chief development officer.Real Estate News StaffJuly 14, 2023
By the NumbersMortgage rates surge even as inflation fallsMortgage rates jumped for the third week in a row and are hovering near 7%, but lower-than-expected inflation could mean the economy is normalizing.Amie FisherJuly 13, 2023
IndustryCould manufactured homes be the next big thing in housing?Prefab homes don't have the sexiest reputation, but modern styles mimic traditional homes — and could make homeownership more attainable.Dave GallagherJuly 13, 2023
BrokeragesFormer Keller Williams CEO returns in consulting capacityMark Willis, who previously served as both president and CEO at KW, is rejoining the company to assist with its market center growth.AJ LaTraceJuly 12, 2023
IndustryNew report calls out ‘marginal’ agents. Is it fair?The Consumer Federation of America suggests that new and less committed agents are bad for the industry and "deprive" their full-time peers of commissions.AJ LaTraceJuly 12, 2023
Industry3 things to know about IDX and listings accessAfter Howard Hanna announced it was dropping IDX, the listings feed service has been a hot topic. But how does it work, and why does it matter?Dave GallagherUpdated July 13, 2023
IndustryA rallying cry as lawsuits over agent pay 'hit a critical point'T3 Sixty has sent an open letter to the real estate industry, urging everyone to take action now to get ahead of potential rulings in commissions lawsuits. Stephanie Reid-SimonsJuly 12, 2023