IndustryPeople on the Move: NWMLS CEO reveals retirement plansTom Hurdelbrink will step down in December, with NWMLS general counsel Justin Haag moving into the top spot.Real Estate News StaffAugust 17, 2023
By the NumbersMortgage interest rates hit highest level in more than 20 yearsAfter a fourth week of increases, average rates reached 7.09% this week, passing last fall's peak.Dave GallagherAugust 17, 2023
IndustryZillow scores victory in REX case ahead of trialA judge has ruled an antitrust claim was without merit, a key component in a federal case involving how portals display non-MLS real estate listings.Dave GallagherAugust 16, 2023
MLS/AssnIndustry unites to help agents shut out by cyberattackCRMLS and other organizations are offering temporary access and support to agents affected by the Rapattoni shutdown, now in its second week.Cheryl Reid-SimonsAugust 16, 2023
By the NumbersBuilder confidence slides as mortgage rates climb back to 7%After seven consecutive months of improving confidence, homebuilders were feeling less optimistic in August.AJ LaTraceAugust 16, 2023
BrokeragesGary Keller says the market has hit bottom, only way is upKeller kicked off KW’s Mega Camp with a message for agents: “If you do the work, you will have a great real estate year, regardless of the market.”Alec HarveyAugust 15, 2023
IndustryTreasury rule changes could impact high-value home purchasesNew rules intended to prevent laundering money through luxury real estate could increase costs and extend transaction times for agents and brokers.Robert DavisAugust 15, 2023
By the NumbersUpward mobility isn’t cheap for U.S. homebuyersA new report from Redfin found that homes in high-opportunity neighborhoods sold for nearly 40% more than homes in low-opportunity neighborhoods.Dave GallagherAugust 14, 2023
Industry3 things to know about REX’s lawsuit against ZillowWhen the case goes to trial next month, NAR policies on IDX feeds — which Zillow began using in 2021 — could be put to the test.Dave GallagherAugust 14, 2023
BrokeragesIndustry moves quickly to support Maui relief effortsAs the wildfire death toll rises, Keller Williams, eXp and others connect with agents, raise money and even turn an office into an emergency “command center.”Cheryl Reid-SimonsUpdated August 14, 2023
BrokeragesBridgemarq returns to profitability, but income down 90% from 2022The Canadian brokerage giant saw a much smaller drop in revenue, and agent count increased slightly.Cheryl Reid-SimonsAugust 12, 2023
MLS/AssnAgents scramble as cyberattack freezes MLSs nationwideMLS system provider Rapattoni has been down since midweek, leaving tens of thousands of agents unable to add listings and update information.Cheryl Reid-SimonsAugust 11, 2023
BrokeragesBrokerage Beat: News from E&V, Christie's, eXp, moreE&V opens new shops in SW Florida, Atlanta; Caribbean firm joins Christie's; eXp gains 82-agent team; Premier Sotheby's hires managing broker; more.Real Estate News StaffAugust 11, 2023
BrokeragesDouglas Elliman still sees hope in luxury after a tough Q2The company reported significant year-over-year declines, with revenue taking a nearly 25% hit — but numbers were much improved over Q1.Cheryl Reid-SimonsAugust 11, 2023
MLS/AssnWant to get top dollar for your seller? Stick with the MLSTwo regional studies of home sales found that properties listed on the MLS sold for significantly more than homes sold off-MLS.Dave GallagherAugust 11, 2023
By the NumbersNearly 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.AJ LaTraceAugust 10, 2023
By the NumbersMortgage rates return to peak levels, inflation ticks upAverage rates reached 6.96% again after rising three weeks in a row, and after falling last month, inflation crept back up.Dave GallagherAugust 10, 2023
IndustryOpendoor'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.AJ LaTraceAugust 10, 2023
BrokeragesReal reaches profitability milestone in Q2Despite a net loss of just over $4M, the company increased revenue by 65% and reported EBITDA profits for the first time, while also doubling agent count.Dave GallagherAugust 9, 2023
IndustryAppraisal fairness improving, reversing a decade-long trendA new analysis of federal data found that the racial home appraisal gap has narrowed since the formation of the PAVE task force.Dave GallagherAugust 9, 2023