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Greatest gain in over 2 years by home price index
Phoenix leads the way, gaining for the 15th consecutive month above all other metros The S&P CoreLogic Case-Shiller index of home prices in 19* U.S. cities rose 5.7% in August from a year ago, the greatest year-over-year gain since 2018, driven unsurprisingly by tightened supply amid record-low interest rates. The August increase was larger than...
Cites realignment cause Zillow to offer 80 job cuts
Most of the impacted employees were in field positions evaluating, maintaining and managing renovations for homes in Zillow’s inventory Zillow Offers, the iBuying arm of Zillow Group, has cut approximately 80 jobs in a realignment, the company confirmed to HousingWire. The affected employees were informed earlier this month. The cuts included...
Fannie and Freddie led mortgage forbearances down into 2 basis points to 5.9%
The number of Ginnie Mae and private loans in forbearance actually rose The U.S. forbearance rate measuring the share of mortgages with suspended payments fell slightly to 5.9% last week, according to the Mortgage Bankers Association. Though the rate fell 2 basis points, the decline has begun to slow after two weeks of...
'Total frenzy' in vacation boom towns inspired by luxury housing market
People settling in vacation home destinations In the third quarter, luxury home sales jumped 41.5%, the biggest year-over-year shift since 2013, according to Redfin. And while real estate agents repping luxury homes aren’t seeing as many bidding wars as they did this summer, their respective housing markets are still crazy right now. “What we’re seeing...
What to ask when using influencers to drive retail leasing
Small and large retailers are calling influencers way before they are calling a broker. This is not a knock on brokers – there is no way we could possibly have the information influencers have. Nor could influencers negotiate and piece together a deal like a broker. The sweet spot is when they can work together to impact...
Sales of existing home surge 9.4% in September
71% of homes sold in September were on the market for less than a month Sales of existing homes took off in September, jumping 9.4% from August to a seasonally adjusted annual rate of 6.54 million, the National Association of Realtors said in a report on Thursday. Compared to a year ago, sales are up 20.9%.
Since 2007 single-family housing starts reached highest level in September
Multifamily starts fell 16.4% Single-family housing starts soared in September, a new report from the U.S. Census Bureau shows, despite an overall rate that was dragged down by a decline in multifamily starts. Privately owned housing starts in September rose to an annual rate of 1.415 million, 1.9% above the revised August estimate of...
Uncertainty this March in housing market
These real estate agents say can barely keep up with demand The housing market faced a lot of uncertainty when COVID-19 caused the real estate industry to pause under shut-downs, but low interest rates and the desire for more space has turned this year into a boom time for real estate agents.
Increase by 41.5%, a biggest jump on luxury home sales since 2013
Sacramento had the biggest jump in luxury home sales in Q3 In the largest increase since 2013, luxury home sales rose 41.5% in the third quarter, according to a new report from Redfin. While sales in this segment of the housing market have skyrocketed, the sales of medium-priced homes went up only 3%...
NAR newest ad campaign for awareness of fair housing issues
Realtors play a key role in ensuring fair housing The National Association of Realtors has launched a new ad campaign, an extension of its “That’s Who We R” effort, working with creative advertising agency Havas Chicago to create an omnichannel campaign to drive awareness of fair housing issues. NAR said, “this ad won’t end discrimination...
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