Builder Confidence High Despite Continued Supply and Affordability Challenges
Builder confidence grew in October despite market challenges such as dwindling affordability due to increasing supply pricing and ongoing shortages. For single-family homes, builder sentiment increased four points to 80, according to the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) released today. The NAHB/Wells Fargo HMI gauges builder perceptions of current […]
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Industry Forecasts Purchase Originations to Increase 9% to Record $1.73 Trillion in 2022
The Mortgage Bankers Association (MBA) recently announced that purchase mortgage originations are expected to grow 9% to a new record of $1.73 trillion in 2022. After an anticipated 14% decline in 2021 to $2.26 trillion, MBA expects refinance originations will slow again next year, decreasing by 62% to $860 billion. MBA’s 2022 outlook was presented […]
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Real Estate Webmasters Wins Gold at Muse Creative Awards
Enjoying explosive growth following the launch of its Renaissance website platform earlier this year, Real Estate Webmasters celebrated another victory last month—winning the 2021 Muse Creative Design gold award for its submission, www.carlycarey.com, the website of luxury real estate professional Carly Carey. The award represents the top prize globally for all real estate websites. The […]
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Tim Hur Named AREAA 2022 National President
The Asian Real Estate Association of America (AREAA) has installed its next president. Tim Hur, 37, who is the managing broker and president of Point Honors and Associates, REALTORS®, a boutique real estate firm located in Metro Atlanta, becomes the second youngest leader of the national group. He was recognized last week at AREAA’s National […]
Zillow Stops Buying Houses – What Does This Mean and Will Other iBuyers Follow Suit?
The supply chain challenges that are straining the housing market are having the same effect on iBuying giant Zillow. The real estate platform announced on Oct. 18 that its home-flipping business, Zillow Offers, will be taking a break from signing new contracts as the company addresses a backlog of its properties still in its renovation […]
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First-Ever Proptech Franchise Opportunity Creates Ancillary Revenue Stream Through Predictive Behavior Platform
There are thousands of real estate data platforms available to practitioners that assist agents and brokers in simplifying workflows, improving transparency, and attracting and retaining new business. Until now, however, there has not been a consumer-facing platform that accomplishes all of the above, and more, while also providing a franchise opportunity that allows business owners […]
DOJ Fires Back at NAR With Court Filing of its Own
The courtroom volley between The National Association of REALTORS® (NAR) and the U.S. Department of Justice (DOJ) wages on. This time, the DOJ claims that it should be allowed to investigate NAR because its antitrust settlement wasn’t formalized. “Contrary to NAR’s suggestions, the Division never committed to refrain from further investigation into NAR and its […]
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Mortgage Rates Reach Peak High Since April
The 30-year fixed-rate mortgage (FRM) averaged 3.05%, according to the latest Primary Mortgage Market Survey® (PMMS®) from Freddie Mac. This marks a peak in rates not seen since April. Mortgage details: – 30-year fixed-rate mortgage averaged 3.05% with an average 0.7 point for the week ending Oct. 14, 2021, up from last week when it […]
Free Webinar Breaks Down How to Enter the Luxury Home Market
It’s no secret that the real estate market has been soaring over the past few years, particularly when it comes to luxury or high-end homes. In fact, according to the National Association of REALTORS® (NAR), the percentage of new homes sold above $750K increased 40% in just one year. Suffice it to say, it is […]
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Remodeling Demand Is Strong Despite Material and Labor Shortages
Remodeler’s confidence increased in the third quarter, with the NAHB/Royal Building Products Remodeling Market Index (RMI) posting a reading of 87, according to the National Association of Home Builders (NAHB). The NAHB/Royal Building Products RMI survey asks remodelers to rate five components of the remodeling market as “good,” “fair” or “poor.” Measuring each question on […]
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