Calling it an “unexpected windfall” of both lower rates and increased inventory of new and existing homes, Freddie Mac’s data showed the 30-year fixed-rate mortgage (FRM) averaging 6.94% this week, down from 7.02% last week and marking its third-straight week of declines. The data is tracked weekly in Freddie Mac’s Primary Mortgage Market Survey® (PMMS®),… The post Mortgage Rates Drop Below 7%...
The real estate industry is undergoing a seismic shift as traditional brick-and-mortar brokerages lose ground to modern, digitally-driven competitors. As real estate strategist Mike DelPrete points out, 2023 transactions were down 19% compared to the previous year. Still, tech-centric firms like eXp Realty, Compass and Keller Williams outperformed the market. The Real Brokerage grew its… The post What...
After a 40-year career marked by what the company notes as his “unwavering dedication and visionary leadership,” John Collopy, founder and owner of RE/MAX Results, has announced his retirement. The company notes that Collopy has been instrumental in shaping the brokerage into one of the leading firms in the country. A release notes that Collopy… The post Longtime Minneapolis RE/MAX Owner Announces...
Across the U.S., sales of single-family homes declined 4.7% to a seasonally adjusted rate of 634,000 in April, and overall sales were down 7.7% year-over-year, too, according to data released by the U.S. Census Bureau. Delving deeper, the median sales prices of new homes sold in April was $433,500, down 1.4% from March, though still… The post New Single-Family Sales Drop 4.7% in April; Mortgage Rates...
RISMedia’s Rookie of the Year contest is back, honoring agents who are new to the business yet achieving extraordinary results. Now is the time to nominate a 2024 Real Estate Rookie of the Year! Nominations may be submitted here. Deadline ends 11:59 p.m. on Wednesday, June 5. RISMedia’s Rookie of the Year program, sponsored by… The post A Look Back at the 2023 Rookie of the Year Regional Winners:...
Anywhere Real Estate hosted its Making Moves that Matter: A Week of Empowering impact event series this week. The event series is designed to explore the connection between inclusion and business results, with a focus on the impact every individual can make on the real estate industry and the world at large. Anywhere stated that… The post Anywhere Hosts Weeklong Special Impact Series Called Making Moves...
The latest research from the Fannie Mae Economic and Strategic Research (ESR) Group suggests that earlier projections for lower mortgage rates in late 2024 will not pan out. The ESR Group forecasts overall economic growth to slow and mortgage rates to end the year near 7%. Should mortgage rates remain elevated, the latest data suggested… The post Fannie Mae Projects Mortgage Rates Will Remain Near 7%...
Editor’s Note: The Buyer-Agent Playbook is a new iteration of RISMedia’s biweekly Playbook segment, specifically centering on buyer agency and how agents are navigating the changes and trends in a post-NAR-settlement environment. The series will provide brokers and agents with insights and information to ensure they not only survive but thrive in these challenging times.… The post The Buyer Agent...
Above, from left, Heather Grant Murray, Jack Brown and Mandy Caruso RE/MAX Beacon of Essex County, Massachusetts has announced the brokerage has acquired three RE/MAX 360 offices, located in Marblehead, Beverly and Gloucester. More than 20 agents and staff members joined the RE/MAX Beacon company as part of the acquisition, which was finalized in early… The post Massachusetts RE/MAX Brokerage Expands...
Above, Brad DeVries Like many of his colleagues and counterparts across the nation, Brad DeVries—president and CEO of HUFF Realty, Rector Hayden REALTORS® & Semonin REALTORS®, Berkshire Hathaway affiliates serving Kentucky, Indiana and Ohio—is laser-focused on successfully navigating a market defined by constricted inventory and high interest rates. Continuing to emerge from a distressed...