Editor’s Note: The RISMedia series, Legislative Round-Up looks at pending and passed federal and state-level policy that impacts real estate professionals. The 2024 U.S. election was a victory for the Republican party—they retained control of the House of Representatives and won control of the Senate and Presidency (winning the popular vote for the first time…
November saw homebuilder confidence rise, according to the latest findings in the National Association of Home Builders/Wells Fargo Housing Market Index (HMI). Graded on a scale from 0 to 100 using data about present home sales, expected sales and buyer traffic, the November HMI came in at 46. This was three points higher than the…
Editor’s Note: The Mortgage Mix is RISMedia’s biweekly highlight reel of need-to-know mortgage-industry happenings. Watch for it every other Friday afternoon. The upward trajectory of mortgage rates leveled off during the second week of November, coming in at 6.78% as of November 14 (slightly lower than the previous week’s 6.79%). In a press release, Freddie…
“Will the Fed cut interest rates?” That’s a question on everyone’s mind whenever Federal Reserve Chair Jerome Powell speaks publicly—including his November 14 speech before the Dallas Regional Chamber and World Affairs Council of Dallas. The event, which included both prepared remarks from Powell and a moderated Q&A session, offered insights into his current economic…
The latest Consumer Price Index (CPI) reading from the Bureau of Labor Statistics holds eye-catching news: annual inflation is up. Previously, inflation had been decreasing consistently enough that the Federal Reserve once more cut interest rates (albeit only by 25 basis points this time) at its latest meeting this past week. In September 2024, inflation…
Above, Anthony Hitt Engel & Völkers America announced today that longtime CEO Anthony Hitt will be stepping down from his position come Dec. 31, 2024. A release said that Hitt is resigning to focus on “personal interests.” “Developing and guiding Engel & Völkers in the Americas has been a true privilege and one of my…
The COURT REPORT is RISMedia’s weekly look at current and upcoming lawsuits, investigations and other legal developments around real estate. Search for new Attorney General underway Given the ongoing antitrust investigation into the National Association of REALTORS® (NAR) by the Department of Justice (DOJ), any shakeup at the DOJ could have ripple effects on the…
2024’s third quarter dragged down Redfin’s financials, according to the company’s latest earnings report. Redfin’s revenue declined to $278 million, down from $295 million during Q2 2024, but was up 3% year-over-year from Q3 2023’s $269 million. The company also saw a net loss of $33.8 million, a larger loss than $27.9 million in Q2…
Real estate technology firm Offerpad hosted its Q3 earnings call on Monday, Nov. 4—during which CEO Brian Blair fielded questions not just about his company’s own performance, but also about larger real estate industry trends. Asked if he’s noticed changes to commission structures since the National Association of REALTORS®’ (NAR) settlement and rule changes, Blair…
The residential real estate market has an inventory shortage, while commercial real estate is experiencing high vacancy rates due to shifts away from in-office mandates. The two birds with one stone solution has been to convert unused office buildings into multi-unit residential buildings. Cities such as Boston have even passed tax breaks to incentivize developers…
Investing in a home inspection allows homeowners to find out (and fix) what they will find out anyway assuming homebuyer candidates have inspections done. Read more.
