NAR

Pending Home Sales Slumped 7.7% in April

Retrieved on: 
木曜日, 5月 30, 2024
NAR, Federal, National Association

Pending home sales decreased 7.7% in April.

Key Points: 
  • Pending home sales decreased 7.7% in April.
  • Contract signings retreated in all regions compared to the previous month and one year ago.
  • Pending home sales in April fell 7.7%, according to the National Association of Realtors®.
  • The Pending Home Sales Index (PHSI)* – a forward-looking indicator of home sales based on contract signings – decreased to 72.3 in April.

Pinellas REALTOR Organization/Central Pasco REALTOR Organization and Greater Tampa REALTORS Approve Merger

Retrieved on: 
木曜日, 5月 23, 2024
Stellar, MLS, Organization, Education, Unification, NAR, Human, Commerce, GTR, Knowledge, Airline

The Pinellas REALTOR® Organization (PRO/CPRO) and Greater Tampa REALTORS® (GTR) will merge to become Tampa Bay REALTORS® (pending NAR approval), serving over 24,000 real estate professionals in Hillsborough, Pinellas and Pasco counties.

Key Points: 
  • The Pinellas REALTOR® Organization (PRO/CPRO) and Greater Tampa REALTORS® (GTR) will merge to become Tampa Bay REALTORS® (pending NAR approval), serving over 24,000 real estate professionals in Hillsborough, Pinellas and Pasco counties.
  • Recognizing that REALTORS® do business throughout the region, members of the new organization will benefit from expanded training, more impactful regional advocacy, and a unified voice supporting Tampa Bay real estate consumers.
  • Tampa Bay REALTORS® will be driven by two proven leaders serving as Co-CEOs, PRO/CPRO’s David Bennett and GTR’s Jason Outman.
  • Tampa Bay REALTORS® will maintain all three local service centers, all staff, and charitable foundations.

Existing-Home Sales Retreated 1.9% in April

Retrieved on: 
水曜日, 5月 22, 2024
NAR, Freddie Mac, News, National Association, Housing, Cryptocurrency

Year-over-year, sales decreased in the Northeast, Midwest and South but increased in the West.

Key Points: 
  • Year-over-year, sales decreased in the Northeast, Midwest and South but increased in the West.
  • For homes priced $1 million or more, inventory and sales increased by 34% and 40%, respectively, from a year ago.
  • First-time buyers were responsible for 33% of sales in April, up from 32% in March and 29% in April 2023.
  • Distressed sales[5] – foreclosures and short sales – represented 2% of sales in April, virtually unchanged from last month and the prior year.

More Than 90% of Metro Areas Recorded Home Price Increases in First Quarter of 2024

Retrieved on: 
水曜日, 5月 8, 2024
National Association, Champaign–Urbana metropolitan area, Family, NAR, Housing, Real estate

Single-family existing-home sales prices rose in 93% of measured metro areas – 205 of 221 – in the first quarter, up from 86% in the prior quarter.

Key Points: 
  • Single-family existing-home sales prices rose in 93% of measured metro areas – 205 of 221 – in the first quarter, up from 86% in the prior quarter.
  • Thirty percent of the 221 tracked metro areas experienced double-digit price gains over the same period, up from 15% in the fourth quarter of 2023.
  • “Astonishingly, greater than 90% of the country’s metro areas experienced home price growth despite facing the highest mortgage rates in two decades,” said NAR Chief Economist Lawrence Yun.
  • [1]
    The top 10 metro areas with the largest year-over-year median price increases, which can be influenced by the types of homes sold during the quarter, all registered gains of at least 18.2%.

NAR Chief Economist Lawrence Yun Predicts Falling Long-Term Interest Rates, Rising Existing-Home Sales in 2024

Retrieved on: 
火曜日, 5月 7, 2024
Federal Reserve, NAR, Housing, Federal, CPI, National Association, COVID-19, Shock, Government, Real estate

Yun also explained that rents will calm down further, which will hold down the consumer price index (CPI) and make the Federal Reserve cut interest rates.

Key Points: 
  • Yun also explained that rents will calm down further, which will hold down the consumer price index (CPI) and make the Federal Reserve cut interest rates.
  • “You need a strong local economy for a strong housing market.”
    Yun discussed the wealth comparison between homeowners and renters.
  • In 2022, the median net worth of homeowners was $396,200, while the median net worth of renters was $10,400.
  • So far in 2024, monthly existing-home sales rates have struggled to climb above last year’s level.

Redfin Reports First Quarter 2024 Financial Results

Retrieved on: 
火曜日, 5月 7, 2024
Commercial Building & Real Estate, Apps, Applications, Technology, Construction & Property, REIT, Software, Internet, Artificial Intelligence, Residential Building & Real Estate, Sale, NAR, Corporation, Risk, Climate, Depreciation, Rent.com, Webcast, Marketing, Advertising, Video game

Redfin Corporation (NASDAQ: RDFN) today announced results for its first quarter ended March 31, 2024.

Key Points: 
  • Redfin Corporation (NASDAQ: RDFN) today announced results for its first quarter ended March 31, 2024.
  • First quarter revenue was $225.5 million, an increase of 5% compared to the first quarter of 2023.
  • “Market conditions recently got worse, but Redfin got better in the first quarter of 2024,” said Redfin CEO Glenn Kelman.
  • Achieved the best quarter on record for mortgage cross-selling, with a 28% attach rate in the first quarter of 2024, up 3 points from the first quarter in 2023.

Roam Introduces 2nd Mortgage Program to Reduce Down Payments and Enable 50% of Americans to Access a Home With a 2% Mortgage

Retrieved on: 
木曜日, 5月 9, 2024
Apps, Applications, Technology, Construction & Property, Finance, Other Technology, Professional Services, Software, Other Construction & Property, Residential Building & Real Estate, Founders Fund, NAR, Pinterest, Traction, Khosla Ventures, Partnership, Upstart, FHA, Spring, DoorDash, Real estate

Roam , the platform for making homeownership 2x more affordable through assumable mortgages, has introduced Roam Boost to make mortgage assumptions accessible to millions of more Americans.

Key Points: 
  • Roam , the platform for making homeownership 2x more affordable through assumable mortgages, has introduced Roam Boost to make mortgage assumptions accessible to millions of more Americans.
  • Today, Roam launches Roam Boost to enable millions of hopeful homebuyers to get a mortgage as low as 2% while lowering the down payment requirement to just 15%.
  • Roam Boost gives buyers the option to add a second mortgage through a partnership with lender Spring EQ, helping buyers achieve a blended rate typically between 4-5%.
  • According to the NAR, which tracks median homebuyer down payments, Roam Boost now puts the assumable mortgage opportunity within reach of 50% of homebuyers.

Compass, Inc. Reports First Quarter 2024 Results

Retrieved on: 
水曜日, 5月 8, 2024
Conference proceedings, Conversation, Net, AI, Growth, GTV, Privacy, GAAP, Disclosure, Internet, Learning, COMP, Machine learning, Software, Conference, National Association, Result, Form 10-Q, Annual report, NAR, Health, ...Continued, Insurance, Artificial intelligence, Federation, OPEX, Depreciation, Security (finance), Regulation Fair Disclosure, Risk, Analysis, Acquisition, Form 10-K, Regulation, Trust, Bank statement, Adjustment, Real estate

NEW YORK, May 8, 2024 /PRNewswire/ -- Compass, Inc. (NYSE: COMP) ("Compass" or "the Company"), the largest residential real estate brokerage in the United States by sales volume1 for the third year in a row, announced its financial results for the first quarter ended March 31, 2024.

Key Points: 
  • "This is the first time we have generated positive free cash flow in the first quarter, the industry's slowest quarter of the year, and in a historically challenging market.
  • OPEX for Q1 2024 was $211.2 million, an improvement of $32.1 million from Q1 2023 OPEX of $243.3 million."
  • Management will conduct a conference call to discuss the first quarter 2024 results as well as outlook at 5:00 p.m.
  • Accordingly, actual results could differ materially from those predicted or implied or such uncertainties could cause adverse effects on our results.

Real Estate Industry Celebrates 1 Year of the AI Certified Agent

Retrieved on: 
金曜日, 5月 3, 2024
NAR, Certification, AI, OpenAI, Krem, Real, Computer, Artificial intelligence, Workload, History, Intelligence, Friends, Student

CLEVELAND, May 3, 2024 /PRNewswire/ -- The last twelve months have felt like years for traditional real estate agents. The NAR lawsuit, shrinking inventory, and agents leaving the business at record levels. However, as one ship sinks, another is on the rise. 2023 was undoubtedly the year of the AI Certified Agent.

Key Points: 
  • Certified Agent 2.0
    CLEVELAND, May 3, 2024 /PRNewswire/ -- The last twelve months have felt like years for traditional real estate agents.
  • The real market shift is going to be the AI Certified Agent replacing traditional real estate agents."
  • AI Certified Agents have been making history in the real estate industry over the past year.
  • AI is easily the greatest technological advancement in the history of our planet and AI Certified Agent 2.0 is leading the way.

Opendoor Announces First Quarter of 2024 Financial Results

Retrieved on: 
木曜日, 5月 2, 2024
Net income, Contribution margin, NAR, Webcast, NPS, Wheeler, Adjustment, GAAP, SAN, Renting

SAN FRANCISCO, May 02, 2024 (GLOBE NEWSWIRE) -- Opendoor Technologies Inc. (Nasdaq: OPEN), a leading e-commerce platform for residential real estate transactions, today reported financial results for its first quarter ended March 31, 2024.

Key Points: 
  • SAN FRANCISCO, May 02, 2024 (GLOBE NEWSWIRE) -- Opendoor Technologies Inc. (Nasdaq: OPEN), a leading e-commerce platform for residential real estate transactions, today reported financial results for its first quarter ended March 31, 2024.
  • Opendoor’s first quarter 2024 financial results and management commentary can be accessed through the Company’s shareholder letter on the “Quarterly Reports” page of Opendoor’s investor relations website at https://investor.opendoor.com.
  • “Our first quarter results exceeded the high end of our guidance across revenue, Contribution Margin, and Adjusted EBITDA.
  • Opendoor will host a conference call to discuss its financial results on May 2, 2024, at 2:00 p.m. Pacific Time.