The more than $2.2 trillion in collective 2021 sales volume reported by the Top 1,000 respondents to RISMedia’s 34th Annual Power Broker Survey is truly historic. Yet it doesn’t tell the complete tale of last year’s residential real estate market. The missing piece? Compass. While recent industry media coverage has declared Compass “the largest brokerage…
A policy forum hosted by the National Association of REALTORS® (NAR) and the Urban Institute last week titled, “Financing the Future,” added more details, more insights and more urgency to the interconnected crises of housing affordability, inequality, financing and supply. With panels including representatives of major trade organizations, advocacy groups, policymakers and journalists, the event…
In some markets, the numbers are cartoonish. The city of Punta Gorda, Florida—a gulf coast suburb with a population of around 20,000 about an hour’s drive north of Fort Myers—saw home prices rise almost 30% between spring of 2021 and 2022, a third more than the national average. Three states saw average price appreciation top…
The closely watched weekly data released by the Mortgage Bankers Association (MBA) on mortgage applications reported a precipitous drop after two weeks of gains, as spiraling rates, broader economic uncertainty and continued low inventory seem to be putting a longer-term damper on both refinancing and new mortgages. According to the latest Mortgage Bankers Association’s (MBA)…
For agents, and especially new agents, family and friends are the first and most important resource in getting a business off the ground. They are likely the only network you have starting out, and might give you your first listing or referral. But for both new and veteran agents, how much is too much when…
Intended to protect the privacy of sellers, some in the industry worry that off-market listings could fundamentally fracture real estate.
Rocket Companies Inc., the parent of Rocket Mortgage and several other mortgage and finance companies, is reporting a $1 billion profit for Q1, an increase from $865 million from the previous quarter, but saw year-over-year losses from $2.77 billion in Q1 2021—admittedly not an ideal report for the lending giant but one they say they’re…
Texas-based Keller Williams (KW) reported first quarter earnings last week, seeing domestic transactions, listings and closings fall compared to a year ago while sales volume rose 10.5% to $108.4 billion—a clear illustration of shrinking inventory and rising prices. The company also added significantly fewer agents worldwide compared to a year ago—gaining 1,523 net agents in…
On a mixed Q1 earnings call where his company beat revenue targets while also seeing its net losses continuing to grow, and in the shadow of a recently settled lawsuit related to alleged fair housing violations, Redfin CEO Glenn Kelman was fired up yesterday. He pushed back against critics and defended his company’s practices, despite…
The Federal Reserve is proposing changes to a landmark fair housing law—the Community Reinvestment Act, or CRA—attempting to “strengthen and modernize” regulations around how big banks and lenders serve low income neighborhoods and predominantly non-white communities. Applying mostly to larger banks, the new framework updates assessment areas and specifically addresses new technologies like mobile banking…
Online loan marketplace LendingTree saw its stock jump after it defied headwinds to meet projections in its Q1 earnings report yesterday, even as the broader refinance and mortgage markets have been weighed down by inflation and rising interest rates. With consolidated revenue of $283.2 million, a $10.8 million net loss and a 33% year-over-year decrease…
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