Existing home sales rise in June as inventory improves

Existing home sales rose by 1.4% in June to a seasonally adjusted rate of 5.86 million units, following four months of declining sales. The sales numbers are based on transactions closed in the month, so they could be contracts signed in April or May, the National Association of Realtors reported. Sales are still up massively […]

The condo market has suddenly become red hot

The average condominium sold for above its price tag for the second month in a row in June, signaling renewed demand following a slump in sales fueled by the COVID-19 pandemic. Redfin reported this week that the typical condo sold for 0.7% more than its asking price last month. The month before, condos sold at […]

When it comes to home renovations, most sellers need guidance

Most people understand that renovations can help to increase the value of their home, but many could benefit from guidance on what exactly needs upgrading, a new study has found. The survey of 2,000 U.S. homeowners, commissioned by Coldwell Banker Real Estate, found that many people are unclear about the home renovation process. Not only […]

Cash buyers are getting harder to compete with

Cash is king in the real estate business, and proving that are so-called all-cash buyers who’re picking up more than half of all available homes for sale in some hot markets. Redfin reported this week that almost one third of all home purchases in the U.S. up to July 14 this year were paid for […]

Compass partners with Guaranteed Rate to launch OriginPoint mortgage services

Tech-powered real estate brokerage Compass has officially entered the mortgage business. The company has announced it’s forming a new mortgage origination firm in partnership with Guaranteed Rate Inc. Compass, which is best known for its technology tools that assist real estate agents in marketing themselves and their listings online, wants to expand its business by […]

Home builders press Congress to help ease housing shortages

American home builders have called upon Congress to take steps to address a tremendous shortage of affordable homes in the country through policy solutions. Real estate experts have long cited a perceived decline in new home building in the U.S. that began in the wake of the Great Recession last decade. Zillow recently said there […]

Slow rental assistance rollout means many face eviction

With the federal moratorium on evictions set to be lifted at the end of this month, housing industry experts have warned that only a fraction of the $45 billion in rental assistance allocated by Congress has actually been passed on to renters that need it. CNBC said the first $25 billion of that assistance had […]

Wealthy billionaires are paying millions in Palm Beach real estate frenzy

The ultra-rich community of Palm Beach, Florida, saw prices hit an all-time high in the second quarter as the number of mansions for sale fell to a record low. Palm Beach saw its median price for a single-family home hit a whopping $11.7 million at the end of the quarter. That’s up 38% from one […]

Facebook planning Willow Village community close to Menlo Park HQ

Facebook Inc. is getting into real estate development, financing a 59-acre planned community close to its Menlo Park, California headquarters that will be home to 1,729 apartments, a hotel with 193 rooms, plus retail outlets and a quarter-mile elevated park. The social media giant said 320 of the apartments it will build will be more […]

Surfside tower collapse could reshape Miami real estate, experts say

The city of Surfside in Florida has, not surprisingly, seen plummeting interest in older condo buildings from buyers and renters in the wake of the tragic collapse of the 12-story Champlain Towers South condominium last month. Real estate agents say they have received far fewer inquiries about older buildings constructed prior to 2000, and those […]