Tag Archives: Markets & Economy

Inflation pumped brakes in October, but buyers still seeing consequences

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All-items inflation rose 7.7 percent in October — down from September’s 8.2 percent. Although its welcome news, housing economists say it’ll take until 2023 for homebuyers to see the savings. Continue reading →

Annual home price gains fall to single digits in most markets: NAR

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Annual home price growth fell from 14 percent in the second quarter to below 9 percent,, according to the National Association of Realtors latest quarterly metro home price report, released Thursday. Continue reading →

WeWork to close 40 locations across US amid otherwise promising Q3

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The co-working space lost $568 million in Q3, an improvement from the same period last year when it lost $802 million, according to earnings on Thursday. Its revenue hovered at $817 million, a 24 percent lift from 2021. Continue reading →

Redfin sees losses soar in Q3 as it winds down iBuying program

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The company earned $600.5 million in revenue during the third quarter, but also lost $90.2 million — up from a loss of just $18.9 million in the third quarter of 2021 — amid a worsening housing market. Continue reading →

Demand for purchase loans up slightly for first time in 7 weeks

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Purchase loan applications rose 1 percent last week despite latest Fed rate hike, but homebuyer demand for mortgages remained close to 2015 lows, according to the Mortgage Bankers Association. Continue reading →

Mortgage giants Fannie and Freddie battened down the hatches in Q3

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Fannie and Freddie remain profitable but are setting aside pots of money to cover future losses that could result from falling home prices. Continue reading →

3 in 10 homes on market are newly built, the highest share in decades

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A home for sale today is nearly twice as likely to be newly built than in 2019 as a glut of unsold projects reaches the market, according to a new report from Redfin. Continue reading →

Who will be the next billion-dollar darling of short-term rentals?

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Companies that choose to adapt to these emerging trends will reap the most significant rewards, and those that don’t will become relics of an old way of doing business. Continue reading →

‘Affordable housing makes good business sense’: EXIT CEO

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Homeownership plays an outsized role in wealth building, but a lack of affordable housing is keeping it out of reach for too many Americans. EXIT Realty CEO Tami Bonnell writes that it makes good professional sense for Realtors to prioritize affordabil… Continue reading →