By the NumbersRealtor.com and Homes.com neck-and-neck in traffic raceSeptember data from web traffic aggregator Comscore shows Realtor.com in second place and Homes.com coming in a close third.AJ LaTraceOctober 19, 2023
By the NumbersCan buyers overcome the psychological barrier of 8% rates?As mortgage rates continue to hit multi-decade highs, the industry waits to see how much it dries up demand.Dave GallagherOctober 19, 2023
By the NumbersHome sales fall below 4 million for the first time in 13 yearsThe summer sales slump continued through September, marking the seventh month of negative sales movement this year.AJ LaTraceOctober 19, 2023
IndustryTraining on trial as plaintiffs challenge commission strategiesMaterials painted 6% commissions as the goal, plaintiffs’ attorneys argued, while industry witnesses defended it as just a number, and negotiable.Dave Gallagher, Austin AlonzoOctober 18, 2023
IndustryIndustry leaders take the stage (via video) at Sitzer/BurnettPre-recorded depositions from Bob Goldberg, Gino Blefari and Gary Keller included tense exchanges about buyer-broker commissions.Dave Gallagher, Austin AlonzoOctober 17, 2023
AgentsRental income from ADUs now can be counted toward an FHA mortgageStarting this week, the FHA has tweaked its borrowing rules to promote accessory dwelling units as a way to boost housing inventory and affordability.AJ LaTraceOctober 17, 2023
Industry'Conspiracy' front and center as commissions trial kicks offOn day two of the Sitzer/Burnett trial, the plaintiffs presented opening arguments, while the defense said conspiracy claims are "conjecture."Dave Gallagher, Austin AlonzoOctober 17, 2023
By the NumbersBuilder confidence declines even as home starts riseRising mortgage rates have hit the construction sector hard, pushing confidence to the lowest level since January despite an uptick in housing starts.Dave Gallagher, AJ LaTraceUpdated October 18, 2023
By the NumbersBucking seasonal trends, home inventory is risingInventory could keep increasing as potential homebuyers ‘hit the brakes’ while mortgage rates remain elevated. Price cuts are also higher than usual.Dave GallagherOctober 17, 2023
IndustryJury selected for landmark Sitzer/Burnett trialLawyers jostled for position and weeded out ineligible jurors, including many who are members of the plaintiff class (Missouri home sellers).Austin AlonzoOctober 16, 2023
By the NumbersForeclosure filings and debt are rising, but no need to panic yetOverall filings remain low but economic stress in the form of increasing credit card debt and depleted savings could push them higher.Dave GallagherOctober 16, 2023
MLS/AssnJudge reaffirms agents’ right to create listing floor plansTwo cases that attracted national attention move toward a quiet conclusion, with a judge ruling that floor plans aren’t the same as building designs.Cheryl Reid-SimonsOctober 15, 2023
IndustrySitzer/Burnett: What to expect at trialStarting Oct. 16, NAR and other defendants will present their case to a jury that could decide how agent commissions are paid.Dave GallagherOctober 14, 2023
AgentsBuy Side: 'We've all had to pivot' to adapt to the marketCharlotte agent Joan Goode says a lot has changed for buyers over the past few years, and upfront conversations about inventory, compensation are important.Alec HarveyOctober 14, 2023
BrokeragesBrokerage Beat: News from Compass, ERA, Real, The Agency, RE/MAX, moreCompass regains a team, adds another; ERA gains two Florida affiliates; Real expands in NorCal; The Agency launches in Salt Lake City; RE/MAX adds 15 offices.Real Estate News StaffOctober 14, 2023
IndustryMixed perspectives on NAR following Redfin’s exitZillow, Windermere affirm their commitment to the association, while a top brokerage leader calls out “dysfunctionality” and a disconnect from member needs.Stephanie Reid-SimonsOctober 13, 2023
BrokeragesYes, the market is slow — but for boutique teams, it’s an opportunitySide President Steve Capezza, who moved to the brokerage platform in January after almost a decade at Zillow, believes there’s power in finding joy in the work.Dave GallagherOctober 13, 2023
AgentsBay Area real estate veteran Rick Geha has diedA respected team leader and speaker, Geha worked with giants Gino Blefari, Gary Keller and Glenn Sanford during his four-decade career.AJ LaTraceOctober 12, 2023
By the NumbersMortgage rates now three times higher than in 2021Economic signals appear to be keeping rates elevated as they climb for a fifth straight week.Dave GallagherOctober 12, 2023
IndustryMortgage exec: Lower rates, ‘big refi move’ coming in 1-2 yearsGreg Schwartz, CEO of online lender Tomo and former head of Zillow’s Premier Agent business, sees some relief ahead for consumers — and a reckoning for agents.AJ LaTraceOctober 12, 2023