Real Estate News by RealEstateNews.com
Brokerage Beat: Lyon rebrands to Windermere, Amerivest joins Real. The Sacramento firm will operate under the Windermere name; Amerivest, serving four states, brings 400 agents to Real; Corcoran franchise expands in Bahamas. Real Estate News Staff. November 9, 2024. MLS/Assn.
Homebuying demand ticks up despite elevated rates
1 day ago · Mortgage rates were essentially flat in the latest Freddie Mac survey, averaging 6.78%. That's down a hair from 6.79% last week, and snapping six consecutive weeks of increases. The 15-year fixed-rate mortgage also ticked down from 6% to 5.99%.
NAR economists offer dire warnings about inventory, rates
8 hours ago · NAR economists discussed the correlation between the typical American's overall wealth and homeownership, and they argued that the earlier a person can buy a home, the more equity they will build. But the latest stats on homebuyers and sellers show that both segments are only getting older. Inventory constraints were again identified as a major ...
Commissions relatively unchanged following NAR settlement
9 hours ago · Small ups and downs: According to the study, the average commission rate for seller agents was 2.738% at 60 days post-settlement, up slightly from 2.724% for the same period in 2023. For buyer agents, the average was 2.486%, down from last year's 2.541%. The authors of the study concluded that the small drop in buy-side commissions and the ...
Housing Market Decoded: Can we predict where mortgage rates …
Oct 16, 2024 · Over the past two years, the average rate on a 30-year fixed-rate mortgage has ranged between about 6 and 7.79%. However, the relationship between mortgage rates and the federal funds rate has become less clear. In early September, the Federal Reserve cut interest rates for the first time in more than four years … and mortgage rates increased.
By the Numbers - RealEstateNews.com
New home sales may have hit a rates-related speed bump. August numbers were down nearly 5% from July, but came in better than a year ago and are still expected to outperform existing home sales in the coming months. Dave Gallagher. September 25, 2024. By the Numbers.
Buyers backing out of deals in record numbers as market shifts
Jul 24, 2024 · More buyers are backing out. According to the Redfin report, roughly 56,000 home purchase contracts were canceled last month, which Redfin says is more than any other June on record. And the main issue, Redfin researchers and agents suggest, is housing affordability and the steep costs to purchase. "Buyers are getting more and more selective ...
Homebuyer sentiment is up, but for how long?
Oct 7, 2024 · Homebuyer sentiment reached its highest level in more than two years in September, but that may not last as mortgage rates continue to rise. The Fannie Mae Home Purchase Sentiment Index jumped 1.8 points last month to 73.9, fueled by the expectation that mortgage rates will decline in the next 12 months.. Optimism around rates was at a survey high, according to Fannie Mae, with a record 42% of ...
The future of MLS? It's Zillow, says Compass CEO
5 days ago · November 9, 2024. 5 minutes. Key points: The Compass CEO joined top MLS leaders, a Zillow exec and a leading broker in a remarkable panel at NAR NXT. Zillow’s evolution from NAR outsider to insider was on display. “Brokerages should compete on service and price. MLSs should compete on service and price,” said CRMLS CEO Art Carter. BOSTON ...
Top 1000 Brokerages (Mega 1000) by Sales Volume
Highlights. Compass moved into the top spot with $254.2 billion in sales volume, surpassing Realogy Brokerage Group's (rebranded as Anywhere in June 2022) $243.9 billion. HomeServices of America ranks No. 3 with $198.7 billion in sales volume. Collectively, the sales volume of the nation's five largest residential brokerages rose by more than ...