The average 30-year-fixed mortgage rate dropped to its lowest level in seven weeks, but is still hovering in the mid-6% range, indicating to economists that buyers–mainly in the higher-income bracket–are coming to terms with this rate environment as the new normal. The average 30-year fixed mortgage rate decreased 6 basis points to 6.43% from 6.49%…
Job growth trended downward and came in below expectations in June, per the latest findings from the U.S. Bureau of Labor Statistics. This adds another data point as the Federal Reserve moves to consider adjusting interest rates in coming months; in previous months, the Fed has been caught between both rising inflation and a weak…
Following the announcement earlier this month that Google went national with its initiative to embed HouseCanary-powered listings into its search portal, many questions have arisen about what it all means for the residential real estate industry. With the industry re-organizing around the flow of listings, brokerages and MLSs are demanding greater control and remuneration for…
Trish Nicely Broker/Owner JPAR® Real Estate Professionals Hughesville, Maryland https://www.jparprofessionals.com Region served: Maryland and the D.C. metro area Years in real estate: 27 Number of offices: 3 Number of agents: 47 Favorite part of your job: Watching agents grow In an era of technological evolution, and with the rise of AI, how are you using…
The Consumer Federation of America (CFA) has penned a letter requesting that the Federal Trade Commission (FTC) and the Department of Justice (DOJ) investigate mega-brokerage Compass for its several recent partnerships with MLSs that simultaneously expanded their platforms nationwide, alleging that the deals “raise significant anti-consumer concerns” and potentially “violate fair housing protections.” Specifically, the…
“Keeping the dream of homeownership alive today is really about helping people replace confusion with clarity. The dream is not dead. The strategy is just different.” This is how Adam Gillespie—a Denver-based Realtor®, AI strategist, CRM coach and co-founder of Apex Elite AI—describes the challenges facing those pursuing the American Dream of homeownership in today’s…
Above: the Everett McKinley Dirksen United States Courthouse in Chicago. CHICAGO—Zillow Chief Financial Officer Jeremy Hofmann testified Wednesday afternoon that a permanent loss of Midwest Real Estate Data (MRED)’s listing feed could trigger what he called a “downward spiral” for Zillow’s business, as testimony continued in the preliminary injunction hearing between Zillow, MRED and Compass.…
Brian Buonaiuto Broker/Owner JPAR Premier Destination Realty Cranston, Rhode Island https://www.brianbuonaiuto.jpar.com Region served: Central Rhode Island and Tampa, Florida Years in real estate: 10 Number of offices: 2 Number of agents: 40 Rhode Island is currently facing record-low inventory. As a leader with JPAR, how are you and your agents finding opportunities for buyers and…
Above, the Everett McKinley Dirksen Courthouse in Chicago where the hearing is taking place. Photo by Clarissa Garza. CHICAGO—Zillow, Midwest Real Estate Data (MRED) and Compass squared off in a Chicago courtroom Wednesday in a preliminary injunction hearing, kicking off two days of testimony, where a federal judge will decide whether Zillow can continue banning…
Generation Z (those born roughly between 1997 and 2012) boasts unprecedented representation in the Lesbian, Gay, Bisexual, Transgender and Queer (LGBTQ+) community. Gallup recently shared that 23% of U.S. adults under 30 years old self-identify as LGBTQ+. What does this mean for so-called “zoomers” home-buying plans, including the 23% that are part of the LGBTQ+…
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