Existing-home sales picked up in January as buyers took advantage of the lowest mortgage rates seen in several months. Existing-home sales rose 3.1% from December to a seasonally adjusted annual rate of 4 million in January, according to a report from the National Association of Realtors (NAR). Year over year, sales dipped 1.7%, down from […]
Many analysts who cover the mortgage industry believe that the worst of the current cycle may be in the rearview mirror. In 2022 and 2023, quickly rising mortgage rates and shrinking volumes sent shockwaves through the industry and prompted massive job cutbacks. But analysts anticipate growth in both purchase and refinance originations this year. According […]
First Home Mortgage Corp. bolstered its presence in the Washington, D.C., region with the opening of a new branch in Bethesda, Maryland, the company announced on Tuesday. In that context, First Home appointed Chris Channell, a 2022 HousingWire Rising Star, to the position of vice president of business development at the Bethesda location. Previously, Channel […]
Guaranteed Rate has reappointed Jeff Nelson to the position of Southeast divisional manager, the company announced on Tuesday. In his new role, Nelson will oversee sales operations and partnerships. He will also lead teams across North Carolina, South Carolina, Georgia, Florida, Tennessee, Alabama, Mississippi, Virginia and West Virginia. He will be based in the company’s […]
Keller Williams Realty has partnered exclusively with the online learning platform Coursera to offer a comprehensive introduction to the business of real estate. Dubbed the KW Real Estate Agent Professional certificate, the program will give participants a head start in the real estate industry. “Our goal is to ensure that we’re getting the opportunity of […]
Zonda, one of the leading data providers in the homebuilding industry, has acquired Builders Digital Experience (BDX), the company announced on Wednesday. By extension, Zonda also acquired NewHomeSource.com, one of the largest listings platforms for newly constructed homes, and Envision, a new home design platform. Founded in 2000, BDX is owned by a group of […]
Mortgage demand continued its downward trajectory last week as interest rates moved back above 7%. Mortgage applications decreased by 10.6% on a seasonally adjusted basis during the week ending Feb. 16, according to the Mortgage Bankers Association’s (MBA) weekly mortgage applications survey. A stronger-than-expected inflation reading sent mortgage rates back north of 7% and also […]
Mortgage startup Tomo has thrust itself into the “portal wars” arena with the launch of Tomo Real Estate, its new home search site, the company announced this week. “We’re not just another listing portal,” Carey Armstrong, Tomo co-founder and COO, said in a statement. “Tomo Real Estate is here to give home buyers a distinctive […]
CoStar Group’s annual revenue increased by 12% during the fourth quarter of 2023, marking its 51st straight quarter of double-digit revenue growth. The company reported revenue of $640 million and net income of $96 million for the quarter. Meanwhile, the company reported revenue of $2.46 billion for the year ending Dec. 31, 2023, up 13% from […]
The dream of homeownership is becoming more attainable for many Americans, with 10.5 million homeowners added between 2012 and 2022. Some racial minorities also witnessed a surge in their homeownership rates. According to a new report from the National Association of Realtors (NAR) titled “A Snapshot of Race and Home Buying in America,” Asian and […]
Illinois-based Baird & Warner, an independent real estate brokerage, partnered with proptech firm RealReports, the companies announced Tuesday. The news comes on the heels of the Keyes Company’s partnership with RealReports in October 2023. The collaboration is designed to allow all of Baird & Warner’s 2,000-plus agents to benefit from RealReports’s wide-ranging property data. RealReports provides […]
Mortgage applications for new homes surged in January as a lack of existing homes continued to fuel the demand for new construction. Mortgage applications for new home purchases rose 19.1% in January on a year-over-year basis, the 12th consecutive month with an annual increase. Applications were up 38% from the previous month, according to the […]
Path & Post Real Estate appointed Bekki Shae Smith to the role of managing broker, the Georgia-based boutique brokerage announced on Thursday. Before joining Path & Post, Smith was a Realtor, broker and partner at LOCAL Realty North ATL for three years. Additionally, Smith is serving as the 2024-25 Region 1 director for the Georgia […]
California Regional MLS (CRMLS), the largest MLS in the country, has teamed up with technology provider Immobel to roll out two new products, MLS Match and Xomio, the company announced on Wednesday. MLS Match is an agent referral network program, while Xomio is internet data exchange (IDX) software that helps agents create websites in 19 different […]
Anywhere Real Estate felt the brunt of slow home sales during the fourth quarter of 2023 as the company reported a loss of $107 million during the three-month period. It generated $1.3 billion in revenue in the fourth quarter, a decrease of 6% year over year. A nearly 20% annualized decline in home sales was the […]
Mortgage rates climbed 13 basis points this week on the back of Tuesday’s strong inflation reading. The 30-year fixed-rate mortgage averaged 6.77% as of Feb. 15, an increase from last week’s figure of 6.64%, according to Freddie Mac’s Primary Mortgage Market Survey released on Thursday. Meanwhile, the 15-year fixed rate averaged 6.12% this week, up […]
Homebuilder confidence shot up for the third straight month in February as builders await future rate cuts by the Federal Reserve. The National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) climbed four points to 48 in February, its highest level since August 2023. The HMI is a monthly survey that gauges NAHB […]
Real estate investors purchased 26.1% of the lowest-priced homes for sale in the U.S. in the fourth quarter of last year, according to a report by Redfin. It was the highest share ever recorded and was up from 24% in Q4 2022. By comparison, investors purchased 13.6% of the mid-priced homes (compared to 14.3% a […]
The housing market is heating up as the spring buying season approaches. Well-priced homes are selling fast, often within 29 days, and that time frame is bound to shorten as the shopping season opens, according to Zillow’s January market report. Meanwhile, other homes are lingering on the market for months and driving up the typical […]
CoreLogic is expanding its strategic alliance with Google Cloud, the company announced on Wednesday. The data provider will leverage the artificial intelligence capabilities of Google Cloud’s enterprise AI platform, Vertex AI. The new phase of the collaboration will help CoreLogic make the most of its property datasets by leveraging new machine learning models. The integration […]
