CHICAGO—The CEOs of Compass and Midwest Real Estate Data (MRED) each testified Thursday, July 2 that Zillow executives threatened them directly over their companies’ resistance to its listing access standards, with MRED CEO Rebecca Jensen recounting a Zillow executive’s warning that she could expect her “phone to be dumped” and all of her “text messages…
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…
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 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+…
As everyone in real estate knows, the market is in a constant state of ebb and flow. While the same trends have been persistent in housing in recent years, the ways in which they affect the market and what challenges are dominant have been in a state of change. Certain trends, such as the downward…
The post Investors Still Players in the Market—A Look at Current Housing Trends appeared first on RISMedia.
The Mortgage Bankers Association is attributing an increase in home-purchase applications this week to mortgage rates edging down slightly following a decline in oil prices and easing tensions in the Middle East. The latest Market Composite Index from the MBA—its measure of mortgage loan activity volume and includes purchases and refinances—shows mortgage application activity increasing…
Home-price growth continues to cool and provide relief to priced-out prospective homebuyers throughout the first half of this year, as the latest S&P Cotality Case-Shiller U.S. National Home Price NSA Index saw an “essentially flat” report in April, as characterized by Nicholas Godec, head of Fixed Income Tradables & Commodities at S&P Dow Jones Indices.…
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