Zillow announced Tuesday that it is exiting its iBuyer business, Zillow Offers. After racking up over $1 billion in losses over 3.5 years, Zillow is closing the business down, a move that has significant implications for the real estate industry. Continue reading
Slowed contract signings in September are a likely sign that home price growth will soon come back down to earth, NAR Chief Economist Lawrence Yun said. Continue reading
Sales of new single-family homes notched a seasonally adjusted annual rate of 800,000 in September 2021, while the median sales price hit a new record of $408,800. Continue reading
Home prices inched up 1 percent in August from the previous month and soared 18.5 percent year over year, but annual gains may be slowing, according to the Federal Housing Finance Agency. Continue reading
The current problem seems to be unique to Zillow. Other iBuyers saw the signals and made adjustments while Zillow kept on buying; either it missed the signs or proceeded anyway. Regardless, it’s a timely reminder that growing an iBuyer business is chal… Continue reading
74 percent of respondents to a National Apartment Association survey said HR, staffing and recruitment issues were among their top three challenges in 2021. Continue reading
Pending home sales finally saw some positive growth in August, following two consecutive months of declines in June and July, the National Association of Realtors reported. Continue reading
A number of short-term rental markets saw a slowdown in August due to families going back to school, the Delta variant and a number of natural disasters across the country, but those factors aren’t impacting fall and winter bookings in the least. Continue reading
Sales of newly built single-family homes hit a seasonally adjusted annual rate of 740,000 in August 2021, up 1.5 percent from the revised July rate, according to the U.S. Census Bureau. Continue reading
Existing-home sales declined 2 percent between July and August to a seasonally adjusted annual rate of 5.88 million, with all geographical regions in the US seeing monthly and annual declines. Continue reading