NAR

Doorlight: Navigating the Future of Real Estate with Agility and Vision

Retrieved on: 
Friday, March 29, 2024
National Association, Multimedia, NAR, Property management

Founders Jay Grewal and Nick Roe have positioned Doorlight at the forefront of innovation, ready to adapt and seize new opportunities presented by the evolving real estate landscape.

Key Points: 
  • Founders Jay Grewal and Nick Roe have positioned Doorlight at the forefront of innovation, ready to adapt and seize new opportunities presented by the evolving real estate landscape.
  • The proposed NAR settlement could reshape the way commissions are communicated and introduce the requirement for written buyer broker agreements, marking a significant shift in the industry.
  • "This moment presents a tremendous opportunity for Doorlight to lead the charge in redefining the real estate experience for homeowners and buyers alike," Jay Grewal adds.
  • For more information about how Doorlight is setting new standards in the real estate industry, visit www.Doorlight.com .

Real estate will never be the same - Assist2Sell applauds the changes

Retrieved on: 
Wednesday, March 27, 2024
Assist-2-Sell, MLS, DOJ, National Association, NAR, Policy, Real estate

The settlement and its proposed policy changes could have a wide-ranging impact on commission structures in the real estate industry.

Key Points: 
  • The settlement and its proposed policy changes could have a wide-ranging impact on commission structures in the real estate industry.
  • Assist2Sell has long championed a consumer-first approach, offering low-fee real estate services that save homeowners significant amounts in commission costs without compromising the quality of service.
  • This approach not only offers clients substantial savings but also ensures they benefit from full-service real estate expertise.
  • Assist2Sell welcomes a future where home ownership is achievable without the burden of excessive fees, opening the door to a more transparent, affordable, and consumer-friendly real estate experience.

Tampa Bay Real Estate Company Eliminates Commission Offerings From Multiple Listing Service As A Result Of NAR's Settlement Agreement

Retrieved on: 
Saturday, March 23, 2024
Real estate, Plaintiff, Tampa Bay area, Fox 9, NAR, Sale, Interview, Local, Estate (law), MLS, National Association of Realtors, Multiple listing service, Estate agent, Multimedia

SPRING HILL, Fla., March 23, 2024 /PRNewswire-PRWeb/ -- The National Association Of Realtors last week announced a bombshell, NAR has agreed on a settlement of a lawsuit regarding real estate commissions to the tune of $418 Million. The Sitzer-Burnett case is a class action lawsuit that was filed in Missouri Federal Court by a group of Home Sellers against NAR and other defendants. On October 31st 2023 with just 3 hours of deliberation the jury in the case delivered a blow to NAR with a surprise verdict that sided with the Plaintiffs. NAR of course was to appeal the case, however just last week announced a settlement agreement with the plaintiffs. In part the settlement agreement will require NAR to pay out $418 Million over the next 4 years, and the Association has agreed to have all commissions removed from MLS as well as abolish cooperation rules that require listing agents to make an offer of compensation to a buyer's agent on MLS. These new rules go into effect Mid July, assuming the Judge signs off the settlement agreement, which has not happened just yet.

Key Points: 

Miami-Dade Total Home Sales Rise for Second Consecutive Month

Retrieved on: 
Thursday, March 21, 2024
REO, Statistics, Partnership, Shock, NAR, Sale, News, MLS, Housing, Condo, Love, Census, CoreLogic, Multiple listing service, Freddie Mac, Property management

MIAMI, March 21, 2024 /PRNewswire-PRWeb/ -- Miami-Dade County total home sales rose year-over-year for the second consecutive month as new data shows South Florida leading the U.S. in price appreciation and international migration, according to February 2024 statistics released by the MIAMI Association of Realtors (MIAMI) and the Multiple Listing Service (MLS) system.

Key Points: 
  • Miami Distressed Sales Remain Low, Reflecting Healthy Market
    Only 0.9% of all closed residential sales in Miami were distressed last month, including REO (bank-owned properties) and short sales, lower than 0.8% in February 2023.
  • Short sales and REOs accounted for 0.06% and 0.9% year-over-year, respectively, of total Miami sales in February 2024.
  • Nationally, distressed sales represented 3% of sales in February, virtually unchanged from last month and the prior year.
  • Cash sales represented 43.3% of Miami closed sales in February 2024, compared to 43% in February 2023.

Pending Home Sales Receded 4.9% in January

Retrieved on: 
Thursday, February 29, 2024
NAR, Housing, Real estate

Month over month, contract signings rose in the Northeast and West but fell in the Midwest and South.

Key Points: 
  • Month over month, contract signings rose in the Northeast and West but fell in the Midwest and South.
  • Compared to one year ago, pending home sales declined in all U.S. regions.
  • Pending home sales in January dropped 4.9%, according to the National Association of Realtors®.
  • The Pending Home Sales Index (PHSI)* – a forward-looking indicator of home sales based on contract signings – decreased to 74.3 in January.

Existing-Home Sales Rose 3.1% in January

Retrieved on: 
Thursday, February 22, 2024
NAR, Freddie Mac, Total, National Association, Housing, Cryptocurrency

The median existing-home sales price climbed 5.1% from January 2023 to $379,100 – the seventh consecutive month of year-over-year price gains.

Key Points: 
  • The median existing-home sales price climbed 5.1% from January 2023 to $379,100 – the seventh consecutive month of year-over-year price gains.
  • Among the four major U.S. regions, sales accelerated in the Midwest, South and West, and remained steady in the Northeast.
  • Distressed sales[5] – foreclosures and short sales – represented 2% of sales in January, virtually unchanged from last month and the previous year.
  • Existing-home sales in the South rose 4.0% from December to an annual rate of 1.84 million in January, a decline of 1.6% from the previous year.

Racial Minority Groups Increased Their Homeownership Rates While Still Facing Significant Homebuying Challenges

Retrieved on: 
Tuesday, February 20, 2024
Hispanic and Latino Americans, National Association, American Dream, Research, Asian Americans, Friends, Parent, Government, Home, Policy, NAR, White Americans, African Americans, Housing, Real estate

While homeownership rates improved across all racial and ethnic groups over the past decade, the homeownership rate among Black individuals continues to trail at 44.1%.

Key Points: 
  • While homeownership rates improved across all racial and ethnic groups over the past decade, the homeownership rate among Black individuals continues to trail at 44.1%.
  • Homeownership rates for racial minorities increased in 2022, with Asian and Hispanic Americans achieving historic peaks.
  • Despite these advancements, disparities persist among racial and ethnic groups, notably with Black homeownership lagging.
  • Despite fast-rising mortgage rates, minority groups saw increased homeownership rates in 2022.

Leveraging Down Payment Assistance to Make Homeownership Affordable to All

Retrieved on: 
Tuesday, February 20, 2024
National Association, African Americans, Wells Fargo, White, NAR, HOU, Housing, Real estate

Austin, Feb. 20, 2024 (GLOBE NEWSWIRE) -- The Texas State Affordable Housing Corporation (TSAHC) is committed to addressing racial disparities that exist regarding access to homeownership.

Key Points: 
  • Austin, Feb. 20, 2024 (GLOBE NEWSWIRE) -- The Texas State Affordable Housing Corporation (TSAHC) is committed to addressing racial disparities that exist regarding access to homeownership.
  • As a result, the homeownership gap between White and Black home buyers is now the largest it's been in a decade.
  • Both programs provide fixed-rate mortgage loans that include down payment assistance in the form of a grant or deferred forgivable second-lien loan.
  • “TSAHC’s assistance can cover all or part of the required down payment, which helps close the affordability gap and make homeownership more accessible to historically marginalized households.”
    TSAHC’s program data confirms that down payment assistance is an effective strategy in helping close the racial homeownership gap.

Nodal Exchange achieves February trading records as power market grows 30% and environmental market grows 133%

Retrieved on: 
Thursday, March 7, 2024
Finance, Other Energy, Utilities, Oil, Gas, Coal, Professional Services, Alternative Energy, Energy, Nuclear, REC, Exchange, Registry, LCFS, Growth, Calendar, NAR, CRS, Wind

This represents Nodal Exchange’s highest volume month ever, surpassing Nodal’s prior monthly record volume of 325.2 million MWh of traded power futures volume in February 2022.

Key Points: 
  • This represents Nodal Exchange’s highest volume month ever, surpassing Nodal’s prior monthly record volume of 325.2 million MWh of traded power futures volume in February 2022.
  • Nodal continues to be the market leader in North American power futures having the majority of the open interest with 1.35 billion MWh at the end of February.
  • Nodal also posted a calendar month trading record for February in its environmental markets with 50,085 lots traded, up 133% from 21,538 lots a year earlier.
  • “Nodal Exchange is proud to see such significant growth in its power and environmental markets,” said Paul Cusenza, Chairman and CEO of Nodal Exchange and Nodal Clear.

Spruce Point Capital Management Announces Investment Opinion: Releases Report and Strong Sell Research Opinion on Zillow Group, Inc. (Nasdaq: Z)

Retrieved on: 
Tuesday, March 5, 2024
The Company, MBP, Homes.com, Flex, National Association, Total, Outline, MLS, Pressure, Record, Marketing, Growth, Super Bowl, TAM, SBC, Disclosure, Advertising, History, CoStar Group, Policy, Optimism, NAR, Humboldt Hill, California, Probability, Acceleration, Research, IRLC, Real estate

Key indicators show Zillow is experiencing a rapid decline in web traffic, which is the foundation for the Premier Agent business.

Key Points: 
  • Key indicators show Zillow is experiencing a rapid decline in web traffic, which is the foundation for the Premier Agent business.
  • Spruce Point believes these practices require significant management judgement as some consumers may have multiple commitment letters from different banks/vendors.
  • Spruce Point believes Zillow should provide more disclosure around assumptions on the timing and conversion of leads and mortgages.
  • As a reminder, our full report, along with its investment disclaimers, can be downloaded and viewed at www.SprucePointCap.com .