Is it time to fire your broker? Here’s how to tell.
While it’s true that all licensed real estate agents need to be affiliated with a brokerage, there’s no rule that stipulates the specifics of that relationship, including how long you should be tied to a broker. In the same way that a broker wants to make sure you’re a good fit before they let you […]
Pandemic homebuying hotspots at greater risk for a downturn
Pandemic homebuying hotspots with steep home price appreciation are the most susceptible to a housing market downturn if the U.S. enters into a recession, according to a recent report from Redfin. The report found that popular migrations such as Boise, Idaho, Phoenix, and Tampa are the most likely to feel a big impact if gloomy […]
New home sales fall again in June
After a slight increase in May, new home sales again fell in June, according to data released Tuesday by the U.S. Department of Housing and Urban Development (HUD) and the U.S. Census Bureau. Sales of new single-family homes in June were at a seasonally adjusted annual rate of 590,000, down 8.1% from May and down 17.4% compared to […]
Real estate agents find ways to overcome pain at the pump
The historic surge in gas prices is forcing real estate agents to reconsider their bread-and-butter activities: how many home showings they attend and how often they meet clients face-to-face. “It used to cost me like $30 to fill up and now we are looking at $60 to $70 per fill up,” said Mandy Nichols, a […]
Average annual commission rate rises slightly in 2021
For the first time since 2017, the national average commission rate ticked up slightly from 4.94% in 2020 (based on 2020 data) to 5.06% in 2021 (based on 2021 data). RealTrends has been tracking this information since 1991. Variations in average commission rates are common, as you can see from the graph below. RealTrends tracks total gross […]
New home sales make it clear: Housing is in a recession
Tuesday’s report on new home sales came in as a miss of estimates and prior revisions were all negative. This data line confirms what we all know to be the case: The housing market, at least as it relates to construction, is in a recession. What I have always tried to do with my economic […]
Treasury holds the cards on paused investor property and cash window caps
When it comes to continuing suspensions of policies that roiled the mortgage market in 2021, the ball is now in the U.S. Treasury‘s court. The Federal Housing Finance Agency and Treasury agreed in September 2021 to end limits imposed by the Trump administration on overall volume and the kind of mortgages lenders’ could sell to […]
Opinion: Servicers should take a page from an originator’s playbook
The digital revolution has changed the game in mortgage lending over the last few decades, resulting in a rise in digital operations such as online applications and eClosings. While digital strategies have focused primarily on origination, mortgage servicing can take a page or two from origination’s playbook to get off the sidelines and into the […]
Price Controls on Medicines Save Money for the Federal Government, but Not Necessarily for Consumers
By Kirsten Axelsen While supporters of the prescription drug pricing proposal that is under consideration may position it as a benefit to consumers, the policy won’t offer meaningful savings for many and can drive up costs for the future. It encourages higher prices for new medicines and can crowd out private negotiation for lower co-pays. […]