At the September Federal Open Market Committee (FOMC), where interest rates were cut by 25 basis points, newly appointed Federal Reserve Governor Stephen Miran dissented and voted for a larger interest rate cut of 50 points. Miran has since called for further rate cuts. Today, at a moderated interview at the Managed Funds Association’s Policy…
In 2024, the median price for a single-family home in the United States grew to five times more than the median household income, as reported by the Joint Center for Housing Studies of Harvard University. In 2019, this ratio had median prices at 4.1 times higher than median household income; in the 1990s, the ratio…
The post Home Prices Reach Five Times Higher Than Median U.S. Income appeared first on RISMedia.
Yesterday, federal Judge Jeannette Vargas of the Southern District of New York ruled on a petition by Zillow regarding the deal for Anywhere, allowing the portal giant to examine documents and communications in an attempt to determine if Compass misrepresented its reliance on private listings. Vargas denied a request by Zillow to question Compass CEO…
ERA Real Estate has announced its latest Colorado-based affiliation, Porter Realty ERA Powered, a legacy brokerage that services all of the San Luis Valley, as well as Phoenix, Arizona. The brokerage was originally founded in 1991 by Mike and Mary Ann Porter, the parents of the current broker/owner, Preston Porter, who came into leadership in…
Borrower activity is typically projected to increase during the fall, especially the months of September and October. Realtor.com® researchers predict that this year’s “best time to buy” would begin next week, from Oct. 12 to 18. But mortgage applications have slowly begun to reduce in volume after a short-lived spike caused by the Federal Reserve’s…
The California FAIR Plan, which provides basic fire insurance to California property owners unable to obtain private insurance, has filed a proposal to increase insurance rates by 35.8%. If approved, this rate hike would begin April 1, 2026, making it the program’s largest rate increase in seven years. The California FAIR Plan alone only covers…
Zillow has launched a real estate app in ChatGPT, explaining on Oct. 6 that it would give people a first-of-its-kind way to begin their housing journey on one of the world’s most widely used AI platforms. Now, according to a press release, those dreaming about their first apartment or searching for the right neighborhood to…
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If you spoke to your clients the way you sometimes talk to yourself, you’d scare them off faster than a creaky door in a haunted house. Too many agents carry around an internal soundtrack that’s anything but supportive. “I’ll never hit my goals.” “Why would anyone choose me over the top producers in town?” “I’m…
The post Confidence by Design: Build It One Win at a Time appeared first on RISMedia.
Midwest Real Estate Data (MRED) has announced the election of seven real estate professionals to the multiple listing service’s Board of Managers. These industry leaders join 10 others on the board to comprise the team that creates the company’s strategy and policies. The brokers elected are sorted into three categories, according to a release. Category…
There are few real estate luminaries who can claim careers as storied as Bob Hale, CEO of the Houston Association of Realtors® (HAR), who this past weekend marked a 37-year career leading one of the nation’s most influential associations and MLSs. Hale, who announced his retirement in early 2024, is stepping down at the end…
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