By the NumbersOver half of millennials now own a homeMillennials hit a major homeownership milestone in 2022, but they’re more likely to own a home in the Midwest versus pricey cities on the coasts.AJ LaTraceApril 19, 2023
BrokeragesCompass gaining new teams after high-profile departuresAs the market slowed down, some top teams left Compass for greener pastures, but the company continues to grow its agent count and woo new and former teams. Dave GallagherApril 19, 2023
By the NumbersHomeownership builds wealth, but not all groups benefit equallyA recent NAR report found that while homeowners have generated significant wealth via appreciation, gains were uneven across income levels and ethnic groups.Dave GallagherApril 18, 2023
IndustryOpendoor cuts 22% of its employeesThe industry’s leading iBuyer continues its struggle against housing industry headwinds, cutting about 560 employees, mostly in operations.Stephanie Reid-SimonsApril 18, 2023
By the NumbersNew construction slid in March, adding to inventory woesLow inventory has kept home prices high, and builders can’t deliver new homes fast enough to meet the demand.AJ LaTraceApril 18, 2023
TechTech Bytes: News from Constellation1, Elm Street, moreConstellation1 to support E&V websites; Elm Street providing marketing tools to Weichert; Restb.ai partners with Black Knight; LandOnEarth harnesses ChatGPT.Real Estate News StaffApril 18, 2023
By the NumbersSellers are feeling confident this springEven as the market has slowed, sellers are optimistic that they can get a good deal on their sale.Dave GallagherApril 17, 2023
IndustryLack of access to small mortgages can stymie homeownershipBuyers seeking small mortgages have been increasingly shut out of traditional lending channels, leaving them with riskier options. Dave GallagherApril 16, 2023
By the NumbersCan California solve its worsening affordability crisis?High prices are nothing new in the Golden State, but an increasingly small fraction of residents can afford a home. Is a turnaround in sight?Dave GallagherApril 15, 2023
BrokeragesBrokerage Beat: News from C21, BHHS PenFed, Christie's, moreCentury 21 gains Long Island firm; Epique opens in Florida; Christie's moves into Lexington; BHHS PenFed launches rev share; Real Title expands to California.Real Estate News StaffUpdated April 15, 2023
BrokeragesTeams on the Move: Compass, eXp, Elliman land new teamsInstagram-favorite Upstate Curious moves to Compass, eXp lands 129-member Kevo Properties team, Giles Group joins Elliman, Compass teams form partnership.Real Estate News StaffUpdated April 14, 2023
AgentsMarket Moods: Stale listings in the West, speedy sales in the EastA new report identified areas with the biggest increases and decreases in days on market. Agents in Erie, Charleston and Chico share their insights.Nicole BrodeurApril 14, 2023
BrokeragesRedfin cuts more than 200 positionsThe brokerage's real estate support division was the hardest hit in this third round of layoffs since June.Cheryl Reid-SimonsApril 13, 2023
By the NumbersInvestor home sales could boost overall inventoryA survey by Bright MLS found that investor properties accounted for more listings this spring, possibly due to fears of a looming recession.Dave GallagherApril 13, 2023
IndustryIndustry Decoded: Commissions lawsuits could give portals an edgeThe outcome of the Moehrl suit could affect countless buyer agents. Might Zillow and other portals become an Uber-style marketplace for those agents? Russ CofanoApril 13, 2023
By the NumbersMortgage rates decline for a fifth week; applications riseThe 30-year fixed-rate mortgage dropped slightly to 6.27%. Rates in the 6% range may no longer be phasing buyers — particularly repeat buyers.Dave GallagherApril 13, 2023
IndustryPeople On the Move at United RE, eXp, Lake Homes RealtyBrokerage leader Phillip Cantrell named SVP at United Real Estate; Carolyn Merchant promoted to CMO at eXp Realty; Lake Homes adds growth-focused leaders.Real Estate News StaffApril 13, 2023
TechTech Bytes: News from Second City Ventures, RentSpree, moreREACH members named; RentSpree partners with ABOR; Listing Media Services expands; Evocalize adds channels; SkySlope launches app; zavvie hires product leader.Real Estate News StaffApril 12, 2023
IndustryNew auction marketplace puts a twist on how agents get paidReal estate consultant Rob Hahn is introducing a marketplace auction website that allows homeowners to sell without paying commissions.Dave GallagherApril 12, 2023
TechZillow tool helps buyers find affordable mortgageThe portal's new search filter lets buyers search by total monthly payment — which takes interest rates and other costs into account — not just the list price.Cheryl Reid-SimonsApril 11, 2023