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US home inventory drops below 1M

USA Real Estate News-Inman - Thu, 2022-01-20 15:37
Home inventory dropped to the lowest level on record last month as buyers competed over an already sparse range of choices, according to data released Thursday by Zillow.

Two of Coldwell Banker’s largest East Coast franchises merge

USA Real Estate News-Inman - Thu, 2022-01-20 15:33
Virginia-based Coldwell Banker Premier and Delaware-based Coldwell Banker Resort Realty have merged to create one of the largest franchises in the brokerage's 115-year history. The deal expands Coldwell Banker Premier's footprint to 12 offices across Virginia, West Virginia, Maryland, Pennsylvania and Washington, D.C., and Delaware, where the formerly known Coldwell Banker Resort Realty has four locations.

Fractured MLS Landscape Begins Embracing Tech, Consolidation

USA Real Estate News-RISMedia - Thu, 2022-01-20 15:03

It is not the flashiest or most dynamic part of the real estate industry. The concept of a Multiple Listing Service, or MLS, goes back more than 100 years when local boards would meet in a dusty office and exchange paper copies of listings. Eventually, these were consolidated into larger volumes accessible by members of local or regional associations, before the dawn of the internet blurred regional lines and gave broad access to listing data for both consumers and real estate professionals.

Existing-Home Sales Mark 15-Year Milestone, Despite Decline in December

USA Real Estate News-RISMedia - Thu, 2022-01-20 15:02

After seeing several months of gains, existing-home sales retracted in December by 7.1% to a seasonally adjusted annual rate of 6.18 million, with each of the four major U.S. regions seeing both a month-over-month and year-over-year decreases, according to the latest data from the National Association of REALTORS® (NAR).

Despite the drop, overall sales for 2021 increased 8.5%, marking the highest annual level since 2006.

Mortgage Rates Rise to Highest Level Since Onset of Pandemic

USA Real Estate News-RISMedia - Thu, 2022-01-20 15:01

Mortgage rates continued their upward trajectory for the fourth straight week, rising to their highest level since the beginning of the pandemic, according to this week’s report from Freddie Mac.

According to the agency’s Primary Mortgage Market Survey® (PMMS), the 30-year fixed mortgage rate averaged 3.56% for the week ending Jan. 20, climbing another 0.7 points from a week ago.

Mortgage details:

Report: Inventory Down More Than 40% From Pre-Pandemic Level

USA Real Estate News-RISMedia - Thu, 2022-01-20 15:00

As the consumer shopping season wound down in December, real estate demand remained high amidst staggeringly low inventory. Zillow’s latest market report showed housing inventory is down 40.5% versus December 2019—just a few months before the COVID-19 pandemic began.

Just added: New Inman season, new shows, new ideas

USA Real Estate News-Inman - Thu, 2022-01-20 14:46
We’re entering our second full year of Inman Connect Now — our virtual series designed to keep you on top of the latest trends and tactics to help you keep your edge throughout the year. We’re making it easier than ever for you to incorporate the real estate content into your day-to-day life, like your favorite podcasts or streaming TV shows. 

The Address founder opens indie brokerage amid Corcoran sale

USA Real Estate News-Inman - Thu, 2022-01-20 13:21
Ventura, California-based broker and founder of The Address, Troy Palmquist, is moving on to focus on the launch of Doora Properties, he announced after the sale of The Address to Corcoran Global Living last week.
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