The lack of housing supply is partly responsible for surprisingly high competition rates. Nationwide, 41.1% of Redfin offers faced competition in the four weeks ending on May 10. In a handful of metros, the bidding war rate was above 60%.
Powell cites Fed’s mortgage intervention as a success
Federal Reserve Chairman Jerome Powell gave a bleak assessment of the U.S. economy as he testified remotely to the Senate Banking Committee on Tuesday. The only bright spot he mentioned was the mortgage market. Powell reiterated the central bank’s plan
Home renovation declines in wake of COVID-19
As COVID-19 cases continued to climb in April, the housing market felt the strain of the pandemic. Prior to the outbreak, Buildfax, a property condition data service provider, reported demand for new homes was so high that a major housing
11 Budget-Friendly Curb Appeal Ideas
We all want visitors and families to feel welcome when they visit our homes. You also want your home’s exterior looking its best when you are getting ready to sell. Whether you are planning on staying in your home for
Could the coronavirus crisis lead to larger homes and office spaces?
A lot of interesting ideas are being floated about how the coronavirus crisis will affect our future habits and social patterns. Some that I have come across lately that relate to the housing market and real estate include the idea
Are mortgage rates about to fall below 3%?
Until about three months ago, it was basically unthinkable that interest rates would ever fall below their record low of 3.31%, which was set in November 2012. But then the coronavirus happened. And as the virus was wreaking havoc on
Can’t show homes in person? Leverage tech to keep virtual sales personal
HousingWire spoke to Matt Casey, CEO and president of CRS Data, about the ways real estate professionals can best leverage technology like the MLS Tax Suite to personalize the virtual sales experience. HousingWire: How does the mix of tax and
Mortgage marketer David Arnett to speak at engage.marketing in June
Amid the coronavirus pandemic and shifts in lending standards, marketing a mortgage company this year requires nimbleness and working across internal teams. That’s why we invited David Arnett, vice president of marketing and communications for Cherry Creek Mortgage, to speak
Affordable housing markets see prices rising as the number of homes for sale continues to drop
In April, the supply of homes for sale was down 24% year over year, while new listings fell 42%, a new report from Redfin said. Compared to a year ago, the biggest declines in active housing supply in April were
Realtor Magazine’s 30 under 30: An Interview with Emily Beutler
Emily Beutler, of CENTURY 21 Beutler & Associates, takes pride in serving the community she loves in Coeur d’Alene, Idaho. When she’s not traveling the world, she’s helping to impact the community she and her family call home. She’s been
Realtor Magazine’s 30 under 30: An Interview with Nominee Sam Medvene
Sam Medvene, of CENTURY 21 Redwood Realty, is a native of the Washington, D.C. area. With an entrepreneurial upbringing and a passion to help others, he’s already accomplished some remarkable things in his career. He’s in the top 1% of
4 Tips for Hiring a Dependable Moving Company
If you’re buying or selling a home, chances are you may need to hire a moving company. Since many people conduct major moves only once or twice in their lifetimes, you may have no idea where to start. Be aware
Recap: A #One21Experience
This year’s #One21Experience was one for the books! From dynamic breakouts to an unbeatable lineup of speakers, an interactive expo, and jaw-dropping announcements, our relentless affiliates stepped away from running their businesses to expand their knowledge and to network with
Luxury Real Estate Trends to Watch in 2020
What will 2020 bring? These four trends are expected to impact luxury buying and selling in the new year and decade ahead. 1. Luxury Housing Holds Steady This year, expect “guarded optimism” to replace last year’s uncertainty over fears about
The ABCs of Multifamily Cash Flow
You hear the term all the time. After all, it’s an essential concept for apartment investors because it not only reflects the viability of your investment but also its value. But what really is cash flow? How do you compute
4 Tips for Hiring a Dependable Moving Company
If you’re buying or selling a home, chances are you may need to hire a moving company. Since many people conduct major moves only once or twice in their lifetimes, you may have no idea where to start. Below are
Homebuyer Demand Outpaced Supply Mid-Pandemic, Leading to Lower Sales and Preventing Price Declines
Supply of homes for sale was down 24% from a year ago in April and new listings fell by 42%, but home prices were still up 5% The effects of the coronavirus pandemic and subsequent shutdowns hit the housing market
What You Need to Know About Cleveland Real Estate During COVID-19
The US housing market has gone through many changes during this COVID-19 pandemic. Homebuyers all over the country are wondering how Coronavirus may impact the homebuying process in their local market. As we enter the homebuying and selling season we
House Hunters’ Hunger for Small Towns Continues to Soar—Even as Interest in Big Cities Begins to Recover
Pageviews of houses in small towns are surging amid the coronavirus pandemic, while big cities are staging a more modest comeback. A remote home in the woods in a tiny Illinois village 67 miles southwest of Chicago was one of
Charting the Coronavirus Pandemic’s Latest Impact on the Housing Market
As states start to relax stay-at-home restrictions amid the coronavirus pandemic, more Americans are putting their homes up for sale—and setting higher expectations for what their houses are worth. But supply has yet to catch up to homebuying demand, which
15 Factors That Influence Your Home’s Resale Value
Whether you’re looking to purchase or sell a home, not all properties are created equal, and not all retain good resale value. Meaning when the time comes to sell your home, you may receive fewer offers, offers under your asking
Post-Pandemic Migration from Expensive Cities Likely As 1 in 4 Newly Remote Employees Expect Work-From-Home to Continue
Survey shows more than 50% of people in New York, Seattle, San Francisco and Boston would move if work-from-home became permanent. The sudden shift to remote work, brought on by the coronavirus shutdowns will accelerate a major migration away from
Home Office Ideas: 6 Unique Spaces You Can Transform into a Home Office
Working from home has become the new norm, and will likely become more commonplace in the near future. This has made having a home office more necessary and desired than ever before. If your home doesn’t have a designated room
Diary of a Pandemic, Part 2: Sell, Sell, Sell
This is the second part of an account I wrote as Redfin’s CEO about what it has been like to run a publicly traded company hit hard by the pandemic. This part discusses how, as the crisis deepened, we scrambled