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EXp posts modest revenue gain, reaching $1.2B in 3rd quarter

USA Real Estate News-Inman - Thu, 2024-11-07 16:57
The virtual brokerage grappled with losses as it paid out its settlement in antitrust commission lawsuits and increased agent losses in a bid to offload less productive agents from the platform.

Broker Spotlight: Calah Andelman and Kaala House

USA Real Estate News-Inman - Thu, 2024-11-07 16:57
Find out how these broker besties are building a market presence in Bentonville and why "many of [their] all-time best days happened in real estate."

Surprises, setbacks and shifts: Q3 2024 earnings

USA Real Estate News-Inman - Thu, 2024-11-07 16:53
Third-quarter earnings reveal a varied performance across real estate, with standout gains in recruitment for The Real Brokerage and mortgage growth for Zillow, while others like Offerpad and RE/MAX face ongoing challenges amid shifting market conditions.

Surprises, setbacks and shifts: Q3 2024 earnings (thus far)

USA Real Estate News-Inman - Thu, 2024-11-07 16:53
Third-quarter earnings reveal a varied performance across real estate, with standout gains in recruitment for The Real Brokerage and mortgage growth for Zillow, while others like Offerpad and RE/MAX face ongoing challenges amid shifting market conditions.

Revenue grows and losses widen for Redfin in Q3

USA Real Estate News-Inman - Thu, 2024-11-07 16:40
Seattle-based brokerage and portal Redfin's third-quarter revenue grew 3 percent year over year to $278 million. However, the company's net losses ballooned 77.8 percent, according to Thursday's earnings.

Realtor.com parent Move sees revenue inch down in Q3

USA Real Estate News-Inman - Thu, 2024-11-07 16:32
Move's overall revenue dipped 1 percent between July and September, while revenue from its real estate business — including Realtor.com — dropped 4 percent, according to Q3 earnings data released Thursday.

After NAR deal, MLSs will have to reinvent themselves — or else

USA Real Estate News-Inman - Thu, 2024-11-07 16:27
At NAR NXT, panelists Marilyn Wilson, James Dwiggins and Clint Skutchan advised MLSs to make themselves essential without guaranteeing compensation.

Mortgage rates not expected to budge on latest Fed rate cut

USA Real Estate News-Inman - Thu, 2024-11-07 16:19
Move was anticipated by investors that fund most home loans, who have been driving up mortgage rates over concerns about inflation and pace of future Fed rate cuts.

Fed Moves Ahead With Expected Quarter-Point Rate Cut

USA Real Estate News-RISMedia - Thu, 2024-11-07 16:09

After an aggressive half percent cut in September, the Federal Reserve followed through on an expected but more measured quarter percentage point rate reduction Thursday, just days after an historic election outcome that economists say could cause disruption in the housing market in 2025. The cut to the Fed’s benchmark interest rate brings it to…

The post Fed Moves Ahead With Expected Quarter-Point Rate Cut appeared first on RISMedia.

Airbnb profit falls in Q3 despite growth in supply and demand

USA Real Estate News-Inman - Thu, 2024-11-07 16:08
Travelers spent $20.1 billion on Airbnb in Q3, a 10 percent increase compared to a year ago, according to earnings results Thursday. Still, a spike in expenses as it seeks to grow overseas cut into profits.

Record number of Americans say they’d rather rent than buy

USA Real Estate News-Inman - Thu, 2024-11-07 15:12
Housing market sentiment rose in October to the highest level since February 2022, but 8 in 10 consumers still said it was a bad time to buy, Fannie Mae survey finds.

Weichert follows eXp Realty’s lead in settling commission lawsuits

USA Real Estate News-Inman - Thu, 2024-11-07 14:59
Weichert has reached a settlement in a case known as Hooper, according to new court documents. EXp's settlement in that case sparked pushback from plaintiffs in a different lawsuit.

NAR Quarterly Report: 87% of Metros Post Home Price Gains in Q3 2024

USA Real Estate News-RISMedia - Thu, 2024-11-07 14:53

The National Association of REALTORS®’ (NAR) latest quarterly report shows that single-family existing-home sales prices climbed in 87% of measured metro areas (196 out of 226) in the third quarter of 2024 as mortgage rates continued to trend lower, with the 30-year fixed mortgage rate ranging from 6.08% to 6.95%. This is down from 89%…

The post NAR Quarterly Report: 87% of Metros Post Home Price Gains in Q3 2024 appeared first on RISMedia.

Uncertainty, volatility ahead for housing market under Trump

USA Real Estate News-Inman - Thu, 2024-11-07 14:14
Plans to eliminate federal income taxes, enact high tariffs and force the Federal Reserve to cut federal funds rates could tank the housing market, economists say.
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