Tag: real estate
American Homeowners Lost $1.3 Trillion In Equity
American Homeowners Lost $1.3 Trillion In Equity In Their Homes In The 3rd Quarter Of 2022 American Homeowners saw their home values peak in the second quarter of this year. Unfortunately, it was short lived. American homeowners lost nearly $1.3 Trillion in equity from July through September. The value contraction is a record according to…
Pending Home Sales Are Down 31% From Last Year
Pending Home Sales Are Down 31% From Last Year. Economists Go Into Panic Mode As Sales Are Worse Than They Predicted The National Association of Realtors says pending home sales continued to plummet in September. Market indicators show a 10.2% month-over-month decline that resulted in an index reading of 79.5. This is the fourth consecutive…
Realtor.com Starts Employee Layoffs Ahead Of Market Downturn
News Corp. Begins Employee Layoffs At Realtor.com In Preparation For A Downturn In The Market News Corp’s Realtor.com has become the latest real estate company to downsize. A Realtor.com spokesperson declined to share specifics of the layoffs. They also refused to say how many employees and contractors were impacted. However, the company said they are…
Secret Compass Layoffs Are Coming By October
Former Compass Insider Says That More Secret Compass Layoffs Are Coming Before The End Of The 3rd Quarter A few days ago, Zoe Rosenberg of Business Insider sat down with a former insider at Compass. The former employee told her that more secret Compass layoffs are coming before the end of the third quarter. Compass…
Homebuyers Are Canceling Purchase Deals At Record Pace
Homebuyers Are Canceling Deals At A Record Pace Due To Housing Affordability Issues Home buyers are canceling sales at record pace. Prospective homebuyers are grappling with affordability issues. However, a Redfin report states the shifting market conditions are allowing buyers to increase their bargaining power. Roughly 63,000 deal under contract fell through in July nationwide….
Home Buyers Are Abandoning Purchase Deals
Home Buyers Are Abandoning Purchase Deals In Record Numbers Thanks To Economic Uncertainty Americans home buyers are canceling deals to buy homes at record numbers. Redfin is reporting that 15% of all existing homes under contract were canceled. That is the highest share since early 2020. That beats 2021 when only 11% 0f purchase transactions…
Biggest Housing Contraction Since 2006 Coming Says Freddie Mac
Freddie Mac Economists Predict The Arrival Of The Biggest Housing Contraction Since 2006 The pandemic’s housing boom is finally running on fumes. Now, Freddie Mac economists are predicting the arrival of the biggest housing contraction since 2006. They point to three factors: Home sales are falling Inventory levels are rising Home sellers are cutting list…
Home Sellers In Hot Markets Are Slashing Prices As Demand Plummets
Realtors See Commissions Plummet As Home Sellers Are Slashing Prices In Hot Markets As Housing Demand Drops Price drops are becoming increasingly common as home sellers are slashing their prices in some of the most popular housing markets. Redfin reports more than 20% of sellers dropped their price in seven of the 10 hottest markets….