Baby boomers are refusing to budge



Baby boomers are increasingly choosing not to downsize their homes in retirement, according to a report by USA Today. Instead, many have decided to stay put in their existing homes, where they raised their families. But economists say their decisions are contributing to the problem of low inventory across much of the nation. Barbara Risman, […]

Computer vision-based interior design firm Modsy raises $37M



Computer vision startup Modsy is looking to expand after raising $37 million in a Series C round of funding led by TCV. The round brings its total funding to over $70 million. For those who aren’t familiar with Modsy, it’s essentially a kind of virtual design app that combines its computer vision tech with human […]

Bank of America announces $0 origination fees for low-income borrowers



As lenders struggle with the impact of reduced home sales on the mortgage business, some banks are coming up with new ways to make their offerings more attractive to borrowers. The Bank of America for example, recently said it would give “eligible borrowers” up to $10,000 to be used towards their down payment or closing […]

Judge fines California couple $600K for felling ancient oak tree



A couple from Sonoma, California, has been fined almost $600,000 for uprooting an almost two-century-old oak tree from their property. The couple, named as Peter and Toni Thompson, were sued by the Sonoma Land Trust for felling the ancient tree and other vegetation on their propert despite it being protected under a conservation easement, USA […]

NAR’s Yun forecasts new home sales boom in 2019



National Association of Realtors’ chief economist Lawrence Yun says home sales are likely to hit a 12-year high this year as builders race to meet demand for entry-level homes from first-time buyers. While existing home sales are likely to remain flat this year, new home sales should top 667,000, which would be the highest number […]

For the first time in 7 years, U.S. home values fall



U.S. home values fell from March to April, the first month-over-month decline since February 2012, according to the April Zillow Real Estate Market Report. The typical U.S. home is worth $226,800, down 0.1% from last month. The decline – led primarily by large West Coast markets – comes after 85 straight months of gains that […]

Trump’s new China tariffs make home remodeling more expensive



Home remodeling projects could become much costlier following U.S. President Donald Trump’s decision to slap more tariffs on Chinese imports. The problem is that the extra costs are likely to be passed onto clients, CNBC reported. Products including counter tops, laminates and lighting are often manufactured in China, and about 450 in total, worth around […]

Nextdoor, the social network for neighborhoods, raises $123M



“Local” social networking site Nextdoor, which aims to bring together people who live in the same neighborhood, has just raised $123 million in a funding round led by Riverwood capital. Benchmark, Tiger Global Management, Kleiner Perkins, and an undisclosed “large global asset manager” also participated in the round, which brings Nextdoor’s total funding to more […]

Redfin says we’ll see less bidding wars this year



Bidding wars are unlikely to be as commonplace this year as they face less competition due to growing inventories in many markets, according to a new Redfin analysis. In April, just 15% of offers faced competing bids, Redfin said. That’s down 60% from a year ago, it added. The reduced competition is even being felt […]

Redfin & RE/MAX cancel agent referral partnership after just 2 months



Redfin and RE/MAX are calling time on a partnership announced just two months ago that saw them agree to swap customer referrals in the U.S. and Canada. Through Redfin’s Partner Agents program, the two brokerages had agreed to refer customers to agents. However, RE/MAX is backing out of the deal following Redfin’s launch of a […]