According To NAR the Pending Home Sales Dropped By 37% From 2021

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In: Realtor News

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Pending home sales fell 4.6 percent to 77.1 in October, according to data released Wednesday by the National Association of Realtors (NAR). This is the fifth consecutive month of decline. Existing home sales have fallen in 11 of the lastContinue Reading

BEC and Real Estate Wire Fraud

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In: Realtor News

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In mid-November, the FBI released its 2022 Report to Congress on Business Email Compromise (BEC) and Real Estate Fraud.  According to the report, the Internet Crime Complaint Center (IC3) received more than $2.4 billion in BEC-related complaints in 2021, upContinue Reading

The Homepoint Layoffs: Cuts 100 Jobs

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In: Realtor News

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A spokesman confirmed that Homepoint laid off another 100 employees in four states in the two months following a series of layoffs that cut nearly 500 jobs.  The reduction was due to the slowdown and volatility in the housing marketContinue Reading

Fannie Mae Expects Housing Market to Get Gloomier Next Year

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In: Realtor News

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The housing market outlook is bleak next year and is expected to recover in 2024-2022. Fannie Mae’s Economic and Strategic Research (ESR) team expects single-family home sales to reach 5.67 million in 2022, decline to 4.42 million in 2023, andContinue Reading

The housing market is Still Struggling In Q4 In spite Of Rate Drop

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In: Realtor News

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The housing slump began in earnest in October. Existing home sales fell 5.9% from September to a seasonally adjusted annual rate of 4.43 million units in October, down 28.4% from a year ago. This is the largest annual decline inContinue Reading

Homebuilder Confidence Continues to Drop in November

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According to the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI), unless the COVID-19 pandemic begins in the spring, homebuilder confidence fell in November to the lowest level since June 2012. 2020 . ) report, released onContinue Reading

Real Estate Digital Platform Cherre Partners With Clear Capital

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In: Realtor News

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Real estate data and information aggregation platform Cherre this week announced a partnership with real estate valuation technology firm Clear Capital. Cherre clients can now use Clear Capital’s real estate analysis with insights from 93% of all US listings, applicationContinue Reading

860 Executives Being Laid Off By Redfin Amidst Slow Housing Market

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Seattle-based Redfin Corp, the real estate brokerage, which operates in 95 markets, primarily the U.S. and Canada, is laying off more than 860 executives, or about 13 percent of its workforce, amid a downturn in the real estate sector, companyContinue Reading

Mr Cooper Says Goodbye to 800 Full-Time Employees

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In: Realtor News

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Mr. Cooper confirmed Monday that the company recently laid off 800 full-time employees from their original department. This is the third time this year those non-bank jobs have declined. The move follows closings in June as Cooper continues to reduceContinue Reading

US Job Growth Stronger In October According To Bureau of Labor Statistics

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According to the Bureau of Labor Statistics, the latest U.S. employment report added 261,000 jobs in October, slightly stronger than expected. “Jobs added to the economy are down from September’s total, but still showing strong positive growth, averaging more thanContinue Reading