The National Association of Home Builders (NAHB) called on Congress this past Wednesday, July 24, to address two key policies that will notably escalate costs for home buyers and renters: the federal push to mandate costly and restrictive national energy codes and the Biden administration’s recent proposal to cap rent increases at 5%. Testifying during… The post NAHB Asks Congress to Reassess Costly...
July 2024
Editor’s note: The COURT REPORT is RISMedia’s weekly look at current and upcoming lawsuits, investigations and other legal developments around real estate. Outside of the realm of the ever-trending commission lawsuits in the industry, other legal conflicts continue to arise and develop in the real estate sphere. Here’s a look at what legal news developed… The post COURT REPORT: CoStar and Move,...
Editor’s Note: Real Talk is an ongoing video series featuring Joe Skousen, founder and CEO of Inside Real Estate, who interviews industry leaders regarding the outcome of the Burnett vs. NAR trial as well as NAR’s settlement, along with other pressing issues affecting residential real estate. Episode #2 James Dwiggins Co-Founder and CEO NextHome, Inc.… The post Real Talk With Joe Skousen: Episode 2...
What region of the country is seeing the most booming real estate market? While the South seems to be the obvious answer currently—with lower taxes and booming industries a natural draw to homebuyers—data suggests 17 out of 20 Sun Belt states are actually overvalued, a tell that a market at least isn’t cold. Research by… The post Regional Spotlight: Maine and New Hampshire Outpace Fellow New...
With President Biden bowing out, and Kamala Harris now the likely Democratic nominee for the 2024 presidential election, real estate practitioners will want to know where she stands on key housing issues. After all, it’s hard to understand a leader without understanding the context of her career (Harris didn’t just fall out of a coconut… The post Where Does Kamala Harris Stand on Housing? What You...
Restb.ai has debuted a new “Special Report Series” to unlock unique visual insights provided from Restb.ai’s proprietary AI models. The inaugural report is the first-of-its-kind study to examine the impact of floor plans on Days on Market (or DOM). Restb.ai’s study examined 100,000 single-family properties listed between May 1, 2023, and April 30, 2024, across… The post Restb.ai Debuts New...
Editor’s Note: The Mortgage Mix is RISMedia’s weekly highlight reel of need-to-know mortgage-industry happenings. Watch for it each Friday afternoon. -A rule to create more standards and quality controls for automated value models (AVMs) that are used in mortgages was finalized earlier this month. The changers were originally championed by Vice President Kamala Harris in… The post Mortgage Mix:...
Consumers continued to keep their economic hopes in check in July, as sentiment readings continue to slowly decrease. Consumer sentiment fell 2.6% in July, from 68.2 in June to 66.4, according to the University of Michigan’s latest report. This is the fifth straight month of decreases, with a 0.5% decrease in March, a 1.9% fall in… The post Consumer Sentiment Continues to Fall for Fifth Month Straight...
The personal consumption expenditures price index (PCE) increased 0.1% in June (slightly up from May’s 0% monthly change) and was up 2.5% from a year ago, according to estimates released by the U.S. Bureau of Economic Analysis on July 26, with the annual rate showing a slight decline from the prior month. The results bode… The post Potential Rate Cut in September Still in Play After June Inflation...
James Kaminsky, the former Realtor.com® and current CoStar Group employee in the middle of a data-theft lawsuit between two real estate portal giants, Realtor.com (owned by Move, Inc.) and CoStar’s Homes.com, on July 25 provided his side of the story in a court filing, writing that while he did access documents and information from Move,… The post Employee in the Middle of CoStar/Realtor.com...