CoStar buys Homesnap to target the residential real estate sector



Commercial real estate analytics giant CoStar Group is getting into the residential sector after acquiring a company called Homesnap Inc. for $250 million. Homesnap sells technology that enables real estate brokers to manage listings within their applications and on their websites. The platform is used by around 300,000 residential real estate professionals around 30 times […]

Buyers look to new homes, and inventory is drying up



The National Association of Home Builders says buyers are increasingly looking at new homes due to the low inventory of existing homes. In October, new home sales were up 41.5% compared to the same month last year, according to data from the Commerce Department. “Buyer traffic remained strong in October even as the country’s attention […]

Tech giants expand their commercial real estate holdings



With many people working from home due to the COVID-19 pandemic, commercial real estate has fallen into decline as companies shy away from acquiring more office space. But that’s not so in the case of big technology firms, which have emerged as major tenants and acquirers of offices, data centers, warehouses and retail stores during […]

More people want fences, despite rising costs



Homeowners are apparently seeking more security and privacy in their homes, and that has sparked a big jump in demand for fences. The sudden jump in demand for residential fences, plus a shortage of lumber and other fencing materials means that prices have been driven much higher, and buyers face a longer wait for them […]

Zillow: Remote work could help more Blacks become homeowners



The rapid rise in pandemic-driven remote work could make homeownership more attainable for black renters compared to other renters, based on factors including income, the makeup of local industries, geography and more, a new Zillow analysis has found. Zillow research found that of the nearly 2 million U.S. renters that have able to take advantage […]

As people stay at home more, good neighbors matter



People’s priorities are shifting as they spend more time at home freed from the strain of constantly commuting and being active. Now, home shoppers are placing more emphasis on the neighborly qualities on the areas where they live. The Wall Street Journal reported last week that real estate professionals have noted buyers are placing more […]

iBuying transactions fall by half as traditional home sales accelerate



Home sales might be up during the COVID-19 pandemic, but iBuying companies are still suffering from a lack of activity. Indeed, it’s looking likely that the market share of iBuying activity will be around 50% less than what it was in 2019, according to one analyst. iBuyer companies such as Opendoor operate a business model […]

Home values rise at fastest clip since 2005



Home value growth has risen to levels not seen since 2005 due to a combination of strong demand and tight inventories, Zillow said in its latest Real Estate Market Report. Rent appreciation, meanwhile, is steaming ahead in many Midwest and Sun Belt cities while declining in major coastal metros. The high-demand market also meant more […]

Existing home sales explode, up 27% from last year



Existing home sales have risen for the fifth consecutive month as the housing industry continues to show its resilience in the face of the COVID-19 pandemic. The National Association of Realtors reported Thursday that homes sales are up an astonishing 27% from the same time one year ago. In addition, it was reported this week […]

Gen Z heads back to the rental market



Rental concessions, such as a free month’s rent, appear to be luring Gen Z out of their parents’ basements and back into the rental market, even as the coronavirus pandemic rumbles on. New Zillow research published this week has found that more Gen Z adults, ages 18 to 25, who had been living with family […]