NAR: Settlement mandates 'benefit' buyers and sellers
Consumer guides from the trade group offer a contrast to previous messaging, but also continue to promote pre-emptive offers of compensation to buyer agents
RE/MAX agent count drops as revenue falls for 8 straight quarters
Franchisor reported its US agent count fell 6.3% during the second quarter as revenue fell 4.8% compared to a year earlier, according to its earnings report
by Taylor Anderson Aug 8
Realtor.com revenue drops 2% as traffic, lead volume remain flat
Realtor.com parent company Move Inc. saw its fiscal Q4 revenue decrease 2% yearly to $143M as traffic to the site stalls at 74M average monthly unique visitors
by Marian McPherson Aug 8
Ultra-luxury sales show resilience, up 3.9% from last year
Ultra-luxury sales in coastal enclaves and ultra-luxury hotspots bolstered sales beyond those of last year, according to a report released by Compass this week
by Richelle Hammiel Aug 8
Douglas Elliman sees revenue tick up in Q2 2024
The company's improved financial results no doubt came as a sigh of relief, as Elliman faced increasing pressure from shareholders because of its shaky performance in recent quarters
Mortgage rates bounce back before homebuyers can pounce
The big drop in mortgage rates did more to spur refinancing than homebuying, according to a weekly survey of lenders by the Mortgage Bankers Association, and now rates are rising again
by Matt Carter Aug 7
Zillow Group names Jeremy Wacksman as new CEO
After 5 years back at the helm, Zillow Group co-founder Rich Barton steps down as CEO. Former COO Jeremy Wacksman takes the reins as the company charges past 'Portal 1.0'
by Marian McPherson Aug 7
Most Americans weren't expecting the big drop in mortgage rates
Fannie Mae survey shows would-be homebuyers grew even more frustrated with elevated home prices and mortgage rates in July, but 7 in 10 didn't think rates would come down anytime soon
by Matt Carter Aug 7
'Hidden' homeownership costs locking potential buyers in place
Households have deferred moving, partially due to high 'hidden' homeownership costs such as property taxes, insurance and climate change, according to a report
by Richelle Hammiel Aug 7
Real Brokerage sees new highs in revenue, gross profit during Q2
The cloud-based brokerage saw surprisingly positive Q2 earnings results during a tough market. Chairman and CEO Tamir Poleg said the results were a testament to the firm's model
UWM shares at 3-year high on prospect of refi 'mini boom'
In Q2 earnings, the nation's largest mortgage lender posted a healthy $76M profit, paid down debt and said it's in prime position to capitalize and grow as mortgage rates drop to 2024 lows
by Matt Carter Aug 6
Matterport revenue grows, losses improve during Q2
Total revenue grew to $42.2M during Q2 2024, up from $39.6M the previous year, as the company worked to increase its market share
Redfin sees Q2 revenue rise, while losses remain nearly flat
The company's earnings report saw revenue climb 7% to $295.2M between April and June, but it also lost $27.9M — just a hair above its Q2 2023 loss
by Jim Dalrymple II Aug 6
Investment firm loses former Trump hotel to foreclosure auction
Miami-based investment firm CGI Merchant Group purchased the luxury hotel in 2022 for $375M with a $285M loan from BDT & MSD Partners. By 2023, the firm had defaulted on its debt
Offerpad trims Q2 loss, but sales and revenue continue to slide
Shares in Offerpad hit new all-time low in after-hours trading Monday after the iBuyer reported that it continues to trim its losses but expects further declines in revenue and homes sold in Q3
by Matt Carter Aug 5
Younger homebuyers say they'd sacrifice safety for affordability
Despite safety ranking high among buyer concerns, house hunters say they're willing to consider purchasing in a high-risk area in exchange for affordable housing, according to a new report
by Richelle Hammiel Aug 5