Author Archives: Daniel Houston

Following 6-month slowdown, the home-sale boom may finally be over

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Home sales were down 19 percent year over year in July, a sign the pandemic-era boom in housing demand may be in the rearview mirror, according to new data released Monday by Redfin. Continue reading →

EXp names chief growth officer in bid to streamline growth strategy

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The brokerage announced on Friday the promotion of Michael Valdes to chief growth officer, a role in which he will oversee the continued expansion of both eXp Realty and eXp Commercial. Continue reading →

After a decade of uninterrupted rise, Zestimates are dropping

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“While July’s housing market data update is big news, and could get first-time buyers’ hopes up, the future is unlikely to bring meaningful improvement to housing affordability,” Zillow’s latest market report reads. Continue reading →

Chinese real estate crash sparks mortgage boycotts

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In China, most recent buyers of new apartments took out mortgages before their buildings were finished. Now many are threatening to not pay. Continue reading →

When will buyers quit canceling contracts? Not yet, apparently

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More buyers have been backing out of deals than at any time since the early weeks of the pandemic. And in July, that share ticked up again, according to a new report from Redfin. Continue reading →

New home starts fall sharply: ‘The whole housing sector is in retreat’

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The number of new construction projects for single family homes dropped by 10 percent in July, the steepest decline of the year, according to the U.S. Department of Housing and Urban Development. Continue reading →

5 overlooked home markets poised to keep rising in value in 2023

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A housing slowdown is underway throughout much of the country. But these five local markets may be positioned to weather the storm, according to new data from Moody’s Analytics. Continue reading →

Home offers facing competing bids have plunged over the past 6 months

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Fewer homebuyers are facing even a single competing offer. And when buyers find themselves in bidding wars, the field is less crowded, according to a report from Redfin. Continue reading →

Home price growth is scaling back, but not everywhere at once: NAR

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Single-family homes saw a double-digit annual rise in sale prices in 148 of 185 metro markets in the second quarter, but overall numbers point to a housing market in the opening stages of a cooldown, according to a report. Continue reading →