Pending home sales climb in May following 6 months of declines

But the modest .7 percent increase shouldn’t discount clear evidence of a transition spurred by high prices and mortgage rates, according to new data from the National Association of Realtors. Continue reading

US existing-home sales prices tally new record after topping $400K

Total sales of existing homes, condos and co-ops dropped 3.4 percent between April and May to a seasonally adjusted rate of 5.4 million, according to new data from the National Association of Realtors. Continue reading

As layoffs spread, here are some resources to help

Inman has created a Talent Pass that gives newly jobless real estate pros free access to the upcoming Inman Connect Las Vegas. Continue reading

Do layoffs at Compass and Redfin signal a looming real estate purge?

The ranks of the real estate industry have swelled over the past decade. Some experts who spoke to Inman believe a trend in the opposite direction may be picking up speed. Continue reading

Appeals court rejects NAR class certification challenge in lawsuit

The ruling means that Sitzer/Burnett moves forward as a multibillion-dollar class action, currently headed for trial in February 2023. Continue reading

Real estate agents received billions in PPP loans during the pandemic

More than $3.9 billion in pandemic-relief loans went to single-employee real estate entities, according to a new report. Nearly 80 percent of that amount was forgiven. Continue reading

The labor shortage is real. But its impact on real estate will surprise you

The latest jobless numbers show U.S. unemployment is holding steady at a very low 3.6 percent. In real estate, this situation may offer a slight counter trend to rising rates and inflation. Continue reading

KW demands REX turn over audio recordings in commission suit

The real estate franchisor has subpoenaed the discount brokerage for recordings of all in-bound calls, not just those purporting to show agent steering, in multibillion-dollar class-action case. Continue reading

The shift has begun — but rate hikes won’t be housing’s Achilles’ heel

Experts expect home sales and price growth to slow down, but they don’t think rising rates will knock everyone out of the market. Continue reading

REX pivots to single-family rental market as its Hail Mary

Nearly two weeks after mass agent layoffs and the closure of two offices, controversial discount brokerage REX has yet to throw in the towel. Continue reading