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Top 5 Best Days to Sell a Home Occur in May, According to New ATTOM Analysis
Home sales over last ten years prove spring and summer months offer best premiums; Home sellers on average realize 8.8 percent premium above market value IRVINE, Calif. - May 4, 2021 -- ATTOM Data Solutions, curator of the nation's premier property database, today released its annual analysis of the best days of the year to sell a home, which shows that the months of May and June offer the greatest home seller premiums – with ten of the best days to sell in the month of May alone. According to this most recent analysis of 40.1 million home sales from 2011-2020, home sellers selling in the late spring and early summer are realizing the biggest premiums – on average 13.4 percent above estimated market value in May and 11.7 percent above in June. The analysis looked at any calendar days in the last ten years with at least 10,000 single family home and condo sales. (See full methodology below.) "As home sellers continue to enjoy an extended sellers' market, moving full steam ahead from the momentum gained over the last ten years, the month of May is particularly poised to garner the greatest sale premiums," said Todd Teta, chief product officer with ATTOM Data Solutions. "Among the top five days fetching the biggest home seller premiums, May 23 is the best day of the year to sell a home, producing a premium of 19.3 percent above market value." Best Months to Sell The analysis also presents a more high-level view, showcasing how seller premiums faired throughout each month of the year. The months realizing the biggest home seller premiums include: May (13.4 percent); June (11.7 percent); July (11.2 percent); April (9.2 percent); August (8.9 percent); March (8.6 percent); February (8.2 percent); September (7.5 percent); January (6.6 percent); November (6.4 percent); October (5.8 percent); and December (5.8 percent). Methodology For this analysis ATTOM Data Solutions looked at any calendar days in the last ten years (2011 to 2020) with at least 10,000 single family home and condo sales. There were 362 days (including leap year data) that matched this criteria, with the four exceptions being Jan. 1, July 4, Nov. 11 and Dec. 25. To calculate the premium or discount paid on a given day, ATTOM compared the median sales price for homes with a purchase closing on that day with the median automated valuation model (AVM) for those same homes at the time of sale. About ATTOM Data Solutions ATTOM Data Solutions provides premium property data to power products that improve transparency, innovation, efficiency and disruption in a data-driven economy. ATTOM multi-sources property tax, deed, mortgage, foreclosure, environmental risk, natural hazard, and neighborhood data for more than 155 million U.S. residential and commercial properties covering 99 percent of the nation's population. A rigorous data management process involving more than 20 steps validates, standardizes and enhances the data collected by ATTOM, assigning each property record with a persistent, unique ID — the ATTOM ID. The 20TB ATTOM Data Warehouse fuels innovation in many industries including mortgage, real estate, insurance, marketing, government and more through flexible data delivery solutions that include bulk file licenses, property data APIs, real estate market trends, marketing lists, match & append and introducing the first property data delivery solution, a cloud-based data platform that streamlines data management – Data-as-a-Service (DaaS).
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SCV Selects Eight Companies for 2021 REACH Technology Scale-up Program
CHICAGO (April 26, 2021) -- Second Century Ventures, the strategic investment arm of the National Association of Realtors, announced today the selection of eight technology companies for the 2021 REACH scale-up program. SCV, which is the most active global venture fund in real estate technology, operates the award-winning REACH growth program in five major, international markets. The 2021 REACH cohort will focus on scaling high-growth potential technology companies in and beyond the residential real estate sector. "In spite of a once-in-a-century health crisis and all of the challenges it has created, U.S. residential real estate has fared remarkably well over the past 13 months," said SCV President and NAR CEO Bob Goldberg. "However, there are factors which will pose long-term challenges to America's housing market, and every problem we face will require innovative solutions from both the private and public sectors. Through the REACH program, we are able to help facilitate these critical conversations by supporting forward-thinking small businesses, investments today which will allow us to overcome the complex problems of tomorrow. "We're excited to welcome eight transformative technologies to the 2021 REACH program alongside the nine companies named to the 2021 REACH Commercial program earlier this month." Companies selected for the 2021 REACH program offer pioneering tools and solutions for multiple aspects of the market, including financing, senior living services, home maintenance and repair, marketing tools and more. Collectively, these companies have raised more than $700 million in capital, employ more than 125 people worldwide and represent a valuation in excess of $1 billion. "The continued success of our industry is dependent on technology that benefits homebuyers, sellers and the Realtor® community," said Kia Nejatian, executive director of REACH. "This group of eight companies has been hand selected from an impressive pool of applicants based on the incredible potential for their solutions to transform the real estate transaction." The eight companies selected for the 2021 REACH program are: Aryeo: modern content management platform enabling creators and real estate professionals to collaborate seamlessly; Feather: next-generation approach to furniture and home decor rental; K4Connect: leading enterprise technology solutions for residents, staff and operators of senior living communities; Knock: fast-growing fintech company whose flagship product, Home Swap™, makes it easy for consumers to buy their dream home before even listing their current house; Landis: mission-driven program that helps agents provide their clients with an innovative and accelerated path to homeownership; Milestones: end-to-end digital customer experience platform for the next generation of homeowners; Plunk: the first mobile app leveraging AI to forecast home valuation and remodeling projects in real time; and Super: technology-enabled home care and repair subscription service. "We are very excited to welcome these eight companies into our global REACH community," said Dave Garland, managing partner of Second Century Ventures. "Growth is the root of everything we do at Second Century Ventures and REACH. By working hand-in-hand with the top entrepreneurs in the property technology field, we deliver scale to new technologies, help real estate professionals find new ways to use technology and in turn help advance the rapidly evolving global real estate ecosystem." REACH announced the companies selected to its commercial real estate technology program earlier this month. Both U.S. based cohorts will experience an intensive program which includes education, mentorship, a curated insight panel, exclusive networking opportunities and significant exposure to the global real estate marketplace. Learn more about the 2021 REACH program and how you can get involved at narreach.com. About REACH REACH is a unique real estate technology program created by Second Century Ventures, the most active venture fund in the global real estate technology space. Backed by the National Association of Realtors®, SCV and REACH leverage the association's more than 1.4 million members and an unparalleled network of executives within real estate and adjacent industries. The REACH program helps technology companies launch into the real estate vertical and its adjacent markets. The program provides education, mentorship and market exposure to one of the world's largest industries. For more on REACH, visit www.narreach.com.
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Ylopo Launches a Masterclass Focused on Lead Conversion for Real Estate Professionals
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Dallas-based HomesUSA Realty Agent Navjot Singh Selected for Coveted '30 Under 30' Class of 2021
Only Texas agent to make the national list of rising young stars Dallas, Texas -- April 28, 2021 -- Navjot "Nav" Singh of HomesUSA Realty in Dallas, Texas, was named to the highly coveted Class of 2021 "30 Under 30" by the National Association of Realtors' Realtor Magazine. Nav is the only Texas-based real estate agent named to this year's class. Selected from more than 300 entries, Realtor Magazine notes, "During a year marked by the heartache of the COVID-19 pandemic — which also required substantial shifts in how people live and work — this year's class of 30 Under 30 not only persevered but found ways to go the extra mile for their clients and communities." Ben Caballero, a current Guinness World Record title holder and owner of HomesUSA.com and HomesUSA Realty, hired Nav as both an agent and his Chief Operating Officer. "Nav has a natural business acumen as well as a hunger to go the extra mile to help his clients whether they are buying a $200,000 bungalow or a multimillion-dollar home. He embodies the HomesUSA.com philosophy of putting our client's needs first," Ben said. Nav manages a team of 10 – the Singh Real Estate Group – at HomesUSA Realty, generating $18.1 million in total team sales and 67 team transaction sides last year. Nav handles the interview process, provides coaching and mentoring, as needed, for his nine agents. He also assists his team with business plan development, social media strategies and sales brainstorming. Nav notes he looks for agents who want to grow with HomesUSA Realty and are interested in selling both new and existing homes. For Nav, born and raised in Arlington, Texas, achieving national recognition at age 28 is especially poignant to both him and his family. As he told Realtor Magazine, "I remember when I was younger, my family lived in an apartment. When we moved into our brand-new house, it was one of my family's proudest and happiest moments." He added, "My dad and mom sacrificed so much as immigrants to give me a brighter future and better life. My parents moved to the United States in 1984 from India, and my dad has worked very hard. He went from driving a taxi to work on cars to eventually opening his own dealership. Along the way, he became a real estate investor and general contractor." Nav says that both his father and his uncle instilled in him "to work hard and be an honest man." Nav started working with his dad and uncle at a car dealership when he was 13, selling his first car when he was 15. A University of Texas Arlington graduate with a degree in psychology, Nav assumed he would become an entrepreneur like his dad and uncle. "I knew I wanted to be in business. I just didn't know what kind of business." He joined the family's dealership out of college, became a internet sales manager, and earned his real estate license to help his family buy investment properties. But Nav found a work-life balance was difficult to achieve at a dealership. He couldn't find the flexibility that gave him the time he wanted to spend with family and friends. Nav joined a progressive and fast-growing real estate firm, and three years later, he was a top producer, having found his calling. Last December, he joined HomesUSA Realty because of its owner: legendary agent and industry leader, Ben Caballero. "I knew that it was an opportunity to really take my career to the next level because it's amazing to see Ben's hustle and his work ethic after being in the business for more than 50 years," Nav pointed out. "He's still trying to revolutionize the real estate industry because there's so much further to go, and I see it as an opportunity of a lifetime," Nav added. While Nav continues to build his team at HomesUSA Realty, he still makes time for his close-knit family: his mom, dad, uncle, aunt, and cousins, whom he calls his "brother and sisters." "My life definitely revolves around my family. I lost my sister when she was just 17, and I was 19. She is a big reason why I am so dedicated to my family. One of my big goals is to make her proud," Nav said. According to Realtor Magazine, a panel of judges chose the Class of 2021 30 Under 30 based on qualities of innovation, leadership, involvement, and the ability to overcome setbacks. The list also strives "to have a good mix of honorees who showcase the best-of-the-best in real estate, from all parts of the country, different specialties, and various backgrounds," the magazine said. About HomesUSA Realty HomesUSA Realty is a burgeoning real estate brokerage based in Dallas, Texas, and owned by HomesUSA.com. Both real estate firms were founded by real estate entrepreneur and current Guinness World Record titleholder Ben Caballero. Ben is the only individual real estate agent to exceed $1 billion in residential sales transactions in a single year, a feat first achieved in 2015 and has been repeated or exceeded ever since. In 2018, he became the first individual agent to exceed more than $2 billion in annual home sales. HomesUSA Realty is one of Texas's fastest-growing brokerages, providing exceptional service and support to home buyers and sellers. All HomesUSA.com agents have a proven new home sales history, with a minimum of five years of real estate experience. Learn more here. About HomesUSA.com® HomesUSA.com was founded by its CEO Ben Caballero, who holds the current Guinness World Record title for "Most annual home sale transactions through MLS by an individual sell side real estate agent." Ranked by REAL Trends as America's top real estate agent for home sales since 2013, Ben is the most productive real estate agent in U.S. history. He is the only agent to exceed $1 billion in residential sales transactions in a single year, a feat first achieved in 2015 and repeated each year through 2018, when he completed more than $2 billion in home sales, another industry first. An award-winning innovator and technology pioneer, Ben works with more than 60 home builders in Dallas-Fort Worth, Houston, Austin, and San Antonio. HomesUSA.com owns and operates Dallas-based HomesUSA Realty.
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Help Is on the Way for Hopeful Homebuyers, According to Realtor.com Survey
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SCV Announces 2021 REACH Commercial Cohort
This year's corresponding REACH residential real estate technology cohort to be unveiled in the coming weeks CHICAGO (April 19, 2021) -- Second Century Ventures, the strategic investment arm of the National Association of Realtors, announced today the selection of nine technology companies for the 2021 REACH Commercial scale-up program. SCV, which is the most active global venture fund in real estate technology with more than 130 portfolio companies worldwide, operates the award-winning REACH growth program in five major, international markets. The REACH Commercial program helps high-growth potential technology companies scale in and beyond the commercial real estate sector. "This pandemic has underscored the foundational role commercial properties play in the sustainability of vibrant communities," said SCV President and NAR CEO Bob Goldberg. "NAR has been on the frontlines on Capitol Hill and in every state capital this past year fighting to support our commercial practitioners as they work to attract investment, create jobs and revitalize communities. The unveiling of the 2021 REACH Commercial group is another critical step in our work to ensure commercial real estate can adapt to and flourish in the markets of the future." Companies selected for the 2021 REACH Commercial program offer innovative tools and solutions for multiple aspects of the CRE market. Collectively, these companies have raised over $34 million in capital, employ more than 400 people worldwide and represent a valuation of $200 million. "We have selected nine companies for our 2021 REACH Commercial program that are already well on their way to being market leaders in their spaces," said Bob Gillespie, executive director of REACH Commercial. "They bring solutions that fundamentally change commercial real estate design, investment and transaction management, as well as how we manage, experience and understand the properties in which we live and work. We have an outstanding 2021 cohort and look forward to helping them achieve exponential growth." The nine companies selected for the 2021 REACH Commercial program are: Valcre: premier end-to-end appraisal software solution for CRE Remarkably: marketing business intelligence platform for multifamily housing owners and operators Lex Markets: a first-of-its-kind securities market for commercial real estate Parafin: on-demand generative design for optimized designs, budgets and investment models ProDeal: award-winning CRE closing software platform Land Intelligence: actionable intelligence for new land development deals Otso: innovative commercial lease securitization for tenants, landlords and brokers Groundbreaker: all-in-one investment management software for small to medium commercial real estate investment firms Cove: modernized technology service platform to transform the way people engage with their physical environments "These nine companies have been selected from an impressive list of highly qualified candidates," said Tyler Thompson, managing partner of Second Century Ventures. "We are confident the nine technologies, and the founders who lead them, will not only help the market navigate post-pandemic challenges but will revolutionize the future of real estate. We look forward to announcing the companies selected for our residential technology scale-up in the coming weeks as these two cohorts will work together to leverage our rapidly expanding global community of real estate industry professionals, strategic partners, investors and mentors." REACH will announce the companies selected to its residential real estate technology program later this month. Both U.S.-based cohorts will experience a robust curriculum including education, mentorship, a curated insight panel, exclusive networking opportunities and significant exposure to the global real estate marketplace. Learn more about the 2021 REACH Commercial program and how you can get involved at narreach.com. About REACH REACH is a unique real estate technology program created by Second Century Ventures, the most active venture fund in the global real estate technology space. Backed by the National Association of Realtors®, SCV and REACH leverage the association's more than 1.4 million members and an unparalleled network of executives within real estate and adjacent industries. The REACH program helps technology companies launch into the real estate vertical and its adjacent markets. The program provides education, mentorship and market exposure to one of the world's largest industries. For more on REACH, visit www.narreach.com. About the National Association of REALTORS® The National Association of Realtors® is America's largest trade association, representing more than 1.4 million members involved in all aspects of the residential and commercial real estate industries.
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Call Centers Losing Ground to Showing Automation
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A Third of Realtors Assisted Their Clients with Buying or Selling a Property that Had 'Green' Features in the Past Year
WASHINGTON (April 20, 2021) -- Thirty-two percent of Realtors said they had been directly involved with buying or selling a property that had green or eco-friendly features in the past 12 months, according to a new report from the National Association of Realtors. NAR's 2021 Realtors® and Sustainability Report surveyed Realtors® about sustainability issues facing the real estate industry. The association released the report in recognition of this year's upcoming Earth Day celebration. Sixty-five percent of respondents said promoting energy efficiency in listings was valuable, with 36% reporting that their multiple listing service had green data fields. Among Realtors® who did have MLS green data fields, 36% used them to promote green features, 25% highlighted energy information and 13% listed green certifications. More than half of those surveyed – 55% – said their clients were interested in sustainability. "A growing number of consumers are seeking homes with features that are good for the environment and, by extension, good for their wallets by reducing utility expenses in the long run," said Jessica Lautz, NAR vice president of demographics and behavioral insights. "The pandemic has led to an increased focus on wellness and sustainability is an important variable in that overall equation for some people." A strong majority of Realtors® – 82% – said properties with solar panels were available in their market and 40% said solar panels increased the perceived property value. Twenty-two percent of respondents said that a high-performance home – defined as a systematic building science approach to home improvements that enhance indoor comfort, health, operational efficiency and durability – increased the dollar value offered compared to other similar homes. The home features that Realtors® believed were most important to clients included the windows, doors, and siding (39%); proximity to frequently visited places (38%); a comfortable living space (37%); a home's utility bills and operating costs (23%); and commuting costs (15%). A quarter of respondents – 25% – had clients who frequently or sometimes requested to see properties close to public transportation. Fourteen percent of those surveyed said that a neighborhood's walkability was very important to their clients while 8% said the same about access to bike lanes and paths. Methodology In March 2021, NAR invited a random sample of 65,471 active Realtors® to fill out an online survey. A total of 5,048 useable responses were received for an overall response rate of 7.7%. At the 95% confidence level, the margin of error is plus-or-minus 1.38%. The National Association of Realtors® is America's largest trade association, representing more than 1.4 million members involved in all aspects of the residential and commercial real estate industries.
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NC REALTORS Selects IXACT Contact CRM as a Member Benefit
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Thinking of Selling Your Home? There May Be No Better Time Than Now
Nationally, the week of April 18-24 is the best time to list your home this year, according to a new realtor.com analysis SANTA CLARA, Calif., April 15, 2021 -- In today's market where homes are selling fast, often above asking and even sight unseen, it may not seem like there is actually a "best" time to list your house for sale. However, earlier in the year is generally better, and according to national market trends, sellers who list their home next week, April 18-24, should see more buyer interest, less competition from other sellers, a faster sale and a higher listing price, according to realtor.com's 2021 Best Time to List analysis released today. To determine the optimum time to list, realtor.com® looked at competition from other sellers, median listing prices, time it takes to sell, likelihood of price reductions and interest from buyers measured by views per property on realtor.com®. Because of COVID's disruption to the market in 2020, the analysis included 2018-2019 listing data. "Unlike 2020 when COVID upended the spring home-buying season and pushed buyer interest to later in the year, this year's housing market is following more typical seasonal trends," said realtor.com® Chief Economist Danielle Hale. "With half as many homes available for sale this year than last, sellers are well positioned for a quick sale at top dollar. However, for most sellers listing sooner rather than later could really pay off with less competition from other sellers and potentially a higher sale price. They'll also avoid some big unknowns lurking later in the year, namely another possible surge in COVID cases, rising interest rates and the potential for more sellers to enter the market." What makes the week of April 18 stand out? The short answer is it's the optimal time for high prices, robust buyer demand, low competition from other sellers and a quick home sale. Higher price: Homes listed next week typically sell for 2% higher than the average week and 10.4% higher than the start of the year. If 2021 follows the typical seasonal trend, a median priced home listed next week could sell for $7,500 above the average week and $36,000 more than the start of the year. Strong buyer demand: Homes listed this week typically get 11% more views on realtor.com® than the average week throughout the year. Less competition: Homeowners who listed during this week in 2018 and 2019 saw 5% fewer sellers on the market compared to the average week throughout the year. Faster sale: Historically, homes listed during this week sold 14.1% faster than the average week. In 2021 terms, this would translate to selling in just 59 days, eight days faster than homes listed in other weeks, on average. In addition to the historical data, homeowners wondering whether now is the right time to sell, may want to consider some potential housing market shifts on the horizon that could lessen their current advantage. Rising mortgage rates, which realtor.com® is forecasting will reach 3.4% by the end of the year, could dampen buyer demand later in the home-buying season. Additionally, improved vaccination rates will also likely bring more sellers back to the market, adding more inventory to the mix and increasing competition for sellers. "It's a seller's market right now, but you still need to ensure your home makes a great first impression, especially if you want to get the best price for your place," said Rachel Stults, deputy editor for realtor.com®. "The key is zeroing in on what buyers want. In the wake of the COVID-19 pandemic, buyers are looking for more space — or flexible space they can transform into what they need. Home offices and lush outdoor spaces also have become extremely important. If you have these things, make sure you highlight them. "It's also crucial to make sure your home is move-in ready: Do repairs and upgrades now, before you put your home on the market. Transform your space into something turnkey, because buyers don't want to wait to move in," she added. For homeowners considering a sale, realtor.com® offers its Sellers Marketplace, which includes estimated home valuations of what your home is worth as well as information on selling options. The best week to list varies from market to market When taking local market trends into account in the 50 largest U.S. metros, the best week to list varies by locale throughout March, April and May. But for the biggest group of markets, 13, the best week to put your home on the market is the week of April 18, which is followed by the week of March 28, with 11 markets. The markets where it's best to list the week of April 18, include: Buffalo, N.Y.; Cleveland; Columbus; Detroit; Grand Rapids, Mich.; Indianapolis; Nashville, Tenn.; New Orleans; Providence, R.I.; Riverside, Calif.; Rochester, N.Y.; Sacramento, Calif.; San Francisco and St. Louis. See the full market breakdown of below times to list below. Best Week to List - 50 Largest Metropolitan Areas Methodology Listing metrics (e.g. list prices) from 2018-2019 were measured on a weekly basis, with each week compared against a benchmark from the first week of the year. Averaging across the years yielded the "typical" seasonal trend for each metric. Percentile levels for each week were calculated along each metric (prices, listings, days on market, etc.), and were then averaged together across metrics to determine a Best Time to List score for each week. Rankings for each week were based on these Best Time to List scores. About realtor.com® Realtor.com® makes buying, selling, renting and living in homes easier and more rewarding for everyone. Realtor.com® pioneered the world of digital real estate more than 20 years ago, and today through its website and mobile apps is a trusted source for the information, tools and professional expertise that help people move confidently through every step of their home journey. Using proprietary data science and machine learning technology, realtor.com® pairs buyers and sellers with local agents in their market, helping take the guesswork out of buying and selling a home. For professionals, realtor.com® is a trusted provider of consumer connections and branding solutions that help them succeed in today's on-demand world. Realtor.com® is operated by News Corp [Nasdaq: NWS, NWSA] [ASX: NWS, NWSLV] subsidiary Move, Inc. under a perpetual license from the National Association of REALTORS®. For more information, visit realtor.com®.
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PPP Loans to Real Estate Agents Extended Until May 31
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CoStar Group to Acquire Residential Listing Site Homes.com
Acquisition Expands CoStar's Effort to Provide Digital Tools and Advertising Solutions That Support Residential Real Estate Agents and Their Customers WASHINGTON -- April 14, 2021 - CoStar Group, Inc., the leading provider of commercial real estate information, analytics and online marketplaces, announced today that it has reached a definitive agreement to acquire Homes.com, a division of Dominion Enterprises, for $156 million in cash. Homes.com is a well-recognized residential property listing and marketing portal that supports over 500,000 residential agents and brokers in the home sale process. Approximately 5 million people visit the Homes.com website each month to search nearly 1.8 million residential property listings. Homes.com provides advertising and marketing services to residential brokers and agents based on listing feeds that cover more than 90% of all Multiple Listing Services (MLS) subscribers in the United States. The company is headquartered in Norfolk, Virginia. "We are excited to welcome the Homes.com team to the CoStar family," said Andrew C. Florance, Founder and Chief Executive Officer of CoStar Group. "We believe that the acquisition of Homes.com is highly complementary alongside Homesnap, the industry-leading workflow and marketing platform for residential real estate agents that we acquired in December last year. The combination of Homes.com's online portal and consumer traffic with Homesnap's powerful mobile tools and highly effective agent marketing solutions has the potential to create a differentiated service that uniquely focuses on selling a house faster and at a better price, rather than just trying to take agent fees." "Unfortunately," continued Florance, "current residential listing sites do not serve the interests of homeowners or their agents as they focus on selling advertisements on top of agent listings and increasingly offer competing brokerage services. These sites generate a portion of their revenue from directing potential homebuyers away from the listing agents to unrelated buyer agents that are advertising on top of listing agent listings. This is a practice we plan to no longer continue. Our plan in bringing Homesnap and Homes.com together is to help agents market their listings in support of the ‘your listing, your lead' philosophy – which stands in contrast to most players in the industry." "The Homes.com team and I are looking forward to working with our new colleagues at CoStar," said Dave Mele, President of Homes.com. "Together we will be dedicated to growing the Homes.com brand and building innovative solutions that expand the marketing options available to consumers and their agents." The transaction is expected to close in the first half of 2021, subject to customary closing conditions and regulatory review. We anticipate the acquisition of Homes.com will contribute approximately $5-10 million in incremental revenue to CoStar Group in the second half of 2021, subject to transaction timing. CoStar Group plans to provide additional information about the Homes.com acquisition during the first quarter 2021 financial results conference call scheduled for April 27, 2021.
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Bloomington, Ill., is the Best Market for First-Time Home Buyers
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Homeownership Remains Affordable for Average Workers Across Majority of U.S. Despite Price Spikes
Average Wage Above Level Needed To Afford Typical Home in First Quarter of 2021; Historic Affordability Improved in First Quarter In About Half of U.S. Housing Markets; National Median Home Price Up 18 Percent Over First Quarter of 2020 IRVINE, Calif. - Apr. 1, 2021 -- ATTOM Data Solutions, curator of the nation's premier property database, today released its first-quarter 2021 U.S. Home Affordability Report, showing that median home prices of single-family homes and condos in the first quarter of this year were more affordable than historical averages in 52 percent of counties with enough data to analyze. That was down from 63 percent of counties in the first quarter of 2020 and 95 percent during the same period five years ago. But rising wages and falling mortgage rates still compensated for near-20 percent spikes in home prices over the past year, helping to keep median home prices affordable for average wage earners around the country. The report determined affordability for average wage earners by calculating the amount of income needed to meet monthly home ownership expenses — including mortgage, property taxes and insurance — on a median-priced home, assuming an 80 percent down payment and a 28 percent maximum "front-end" debt-to-income ratio. That required income was then compared to annualized average weekly wage data from the Bureau of Labor Statistics (see full methodology below). The 80-percent down payment criterion marks an update to ATTOM's affordability analysis, which now shows smaller portions of income needed to afford home ownership than recent reports. Compared to historical levels, median home prices in 287 of the 552 counties analyzed in the first quarter of 2021 were more affordable than past averages. That was down from 349 of the same group of counties in the first quarter of 2020, a trend that came during a 12-month period when the national median home price shot up 18 percent, to $278,000, in the first quarter of 2021. Yet, with workplace pay rising and home mortgage rates continuing to hit historic lows, major expenses on a median-priced home nationwide still consumed just 23.7 percent of the average wage across the country in the first quarter of 2021. That figure was up from 22 percent in first quarter of 2020 and from 19.7 percent five years ago. But it remained well within the 28 percent standard lenders prefer for how much homeowners should spend on those major expenses. Those mixed trends – homes remaining affordable but not quite as much as they have historically – happened amid a surge over the past year of home buyers who largely escaped the economic damage caused by the recent worldwide Coronavirus pandemic. As those home seekers pursued a dwindling supply of homes for sale, prices shot up – just not enough to significantly outweigh the benefits of increased wages and average mortgage rates that sat below 3 percent. "The past year certainly has been an odd one for the U.S. housing market. Home prices surged at a remarkable pace even as the virus pandemic damaged the U.S. economy, which dropped historical affordability levels. But average workers untarnished by the pandemic were still able to afford the typical home because wages and rock-bottom interest rates worked to their favor in a big way," said Todd Teta, chief product officer with ATTOM Data Solutions. "Much remains uncertain about the housing market in 2021. A lot will depend on how well the broader U.S. economy recovers from the pandemic and whether there are still many more buyers looking to escape congested neighborhoods most prone to the virus, pushing prices even higher. But for now, our data shows that average workers are able to manage the costs associated with rising values." Among the 552 counties in the report, 327 (59 percent) had major home-ownership expenses on typical homes in the first quarter of 2021 that were affordable for average local wage earners, based on the 28-percent guideline. The largest of those counties were Cook County (Chicago), IL; Harris County (Houston), TX; Dallas County, TX; Bexar County (San Antonio), TX, and Wayne County (Detroit), MI. The most populous of the 225 counties where major expenses on median-priced homes were unaffordable for average local earners in the first quarter of 2021 (41 percent of the counties analyzed) were Los Angeles County, CA; Maricopa County (Phoenix), AZ; San Diego County, CA; Orange County, (outside Los Angeles), CA and Miami-Dade County, FL. Home prices up at least 10 percent in two-thirds of country Median home prices in the first quarter of 2021 were up by at least 10 percent from the first quarter of 2020 in 360, or 65 percent, of the 552 counties included in the report. Counties were included if they had a population of at least 100,000 and at least 50 single-family home and condo sales in the first quarter of 2021. Among the 42 counties with a population of at least 1 million, the biggest year-over-year gains in median prices during the first quarter of 2021 were in Wayne County (Detroit), MI (up 24 percent); Suffolk County, NY (outside New York City) (up 20 percent); Bronx County, NY (up 19 percent); Maricopa County (Phoenix), AZ (up 19 percent) and Harris County (Houston), TX (up 18 percent). Counties with a population of at least 1 million that had the smallest year-over-year increases (or price declines) in the first quarter of 2021 were New York County (Manhattan), NY (down 2 percent); Santa Clara County (San Jose), CA (up 7 percent); Hennepin County (Minneapolis), MN (up 7 percent); Kings County (Brooklyn), NY (up 8 percent) and Orange County, CA (outside Los Angeles) (up 8 percent). Price appreciation up more than wage growth in almost 90 percent of markets Home price appreciation outpaced average weekly wage growth in the first quarter of 2021 in 474 of the 552 counties analyzed in the report (86 percent), with the largest counties including Los Angeles County, CA; Cook County (Chicago), IL; Harris County (Houston), TX; Maricopa County (Phoenix), AZ and San Diego County, CA. Average annualized wage growth outpaced home price appreciation in the first quarter of 2021 in only 78 of the 552 counties in the report (14 percent), including Santa Clara County (San Jose), CA; New York County (Manhattan), NY; Honolulu County, HI; San Francisco County, CA and Suffolk County (Boston), MA. Less than 28 percent of wages needed to buy a home in six of every 10 markets Major ownership costs on median-priced homes in the first quarter of 2021 consumed less than 28 percent of average local wages in 327 of the 552 counties analyzed in this report (59 percent). Counties requiring the smallest percent were Schuylkill County, PA (outside Allentown) (6.3 percent of annualized weekly wages needed to buy a home); Bibb County (Macon), GA (8.3 percent); Fayette County, PA (outside Pittsburgh) (8.4 percent); Macon County (Decatur), IL (9.9 percent) and Robeson County, NC (outside Fayetteville) (10.6 percent). Among the 42 counties in the report with a population of at least 1 million, those where home ownership typically consumed less than 28 percent of average local wages in the first quarter of 2021 included Wayne County (Detroit), MI (12.2 percent); Philadelphia County, PA (14.1 percent); Cuyahoga County (Cleveland), OH (14.4 percent); Fulton County (Atlanta), GA (19.4 percent) and Franklin County (Columbus), OH (19.5 percent). A total of 225 counties in the report (41 percent) required more than 28 percent of annualized local weekly wages to afford a typical home in the first quarter of 2021. Those counties that required the greatest percentage of wages were Kings County (Brooklyn), NY (75.7 percent of annualized weekly wages needed to buy a home); Marin County, CA (outside San Francisco) (75.5 percent); Santa Cruz County, CA (69.9 percent); Monterey County, CA, (outside San Francisco) (68.1 percent) and Maui County, HI (65.9 percent). Aside from Kings County, NY, counties with a population of at least 1 million where home ownership consumed more than 28 percent of average annualized local wages in the first quarter included Orange County, CA (outside Los Angeles) (57.7 percent); Queens County, NY (56.3 percent); Nassau County, NY (outside New York City) (53.5 percent) and Alameda County (Oakland), CA (51.6 percent). Average wages needed to afford median-priced home exceed $75,000 in less than 15 percent of markets Annual wages of more than $75,000 were needed in the first quarter of 2021 to afford the typical home in just 75, or 14 percent, of the 552 markets in the report. The highest annual wages required to afford the typical home were in New York County (Manhattan), NY ($247,802); San Mateo County (outside San Francisco), CA ($230,848); Marin County (outside San Francisco), CA ($218,830); San Francisco County, CA ($212,892) and Santa Clara County (San Jose), CA ($207,691). The lowest annual wages required to afford a median-priced home in the first quarter of 2021 were in Schuylkill County, PA (outside Allentown) ($10,089); Fayette County, PA (outside Pittsburgh) ($12,957); Bibb County (Macon), GA ($13,708); Robeson County, NC (outside Fayetteville) ($14,133) and Cambria County, PA (east of Pittsburgh) ($16,251). Slight majority of housing markets more affordable than historic averages Among the 552 counties analyzed in the report, 287 (52 percent) were more affordable in the first quarter of 2021 than their historic affordability averages, down from 63 percent of the same group of counties that were more affordable historically in the first quarter of 2020. Counties with a population of at least 1 million that were more affordable than their historic averages (indexes of more 100 are considered more affordable compared to historic averages) included New York County (Manhattan), NY (index of 128); Montgomery County, MD (outside Washington, D.C.) (121); Cook County (Chicago), IL (114); King County (Seattle), WA (110) and Santa Clara County (San Jose), CA (108). Counties with the best affordability indexes in the first quarter of 2021 included Schuylkill County, PA (outside Allentown) (index of 195); Macon County (Decatur), IL (188); Fayette County, PA (outside Pittsburgh) (171); Calcasieu Parish (Lake Charles), LA (149) and Bibb County (Macon), GA (146). Among counties with a population of at least 1 million, those where the affordability indexes improved the most from the first quarter of 2020 to the first quarter of 2021 were New York County (Manhattan), NY (index up 14 percent); Santa Clara County (San Jose), CA (up 7 percent); Orange County, CA (outside Los Angeles) (up 3 percent); Kings County (Brooklyn), NY (up 3 percent) and Hennepin County (Minneapolis), MN (up 2 percent). Slightly fewer than half of markets less affordable than historic averages Among the 552 counties in the report, 265 (48 percent) were less affordable than their historic affordability averages in the first quarter of 2021, up from 37 percent in the first quarter of last year. Counties with a population greater than 1 million that were less affordable than their historic averages (indexes of less than 100 are considered less affordable compared to their historic averages) included Wayne County (Detroit), MI (index of 78); Dallas County, TX (81); Tarrant County (Fort Worth), TX (82); Harris County (Houston), TX (83) and Maricopa County (Phoenix), AZ (86). Counties with the worst affordability indexes in the first quarter of 2021 were Canyon County, ID (outside Boise) (index of 67); Grayson County, TX (outside Dallas) (72); Ada County (Boise), ID (74); St. Louis City/County, MO (75) and Bonneville County (Idaho Falls), ID (76). Counties with a population of least 1 million residents where affordability indexes decreased the most from the first quarter of 2020 to the same period in 2021 included Wayne County (Detroit), MI (index down 11 percent); Harris County (Houston), TX (down 11 percent); Dallas County, TX (down 8 percent); Bronx County (down 8 percent) and Oakland County, MI (outside Detroit) (down 8 percent). Report Methodology The ATTOM Data Solutions U.S. Home Affordability Index analyzes median home prices derived from publicly recorded sales deed data collected by ATTOM Data Solutions and average wage data from the U.S. Bureau of Labor Statistics in 552 U.S. counties with a combined population of 245.7 million. The affordability index is based on the percentage of average wages needed to pay for major expenses on a median-priced home with a 30-year fixed rate mortgage and an 80 percent down payment. Those expenses include property taxes, home insurance, mortgage payments and mortgage insurance. Average 30-year fixed interest rates from the Freddie Mac Primary Mortgage Market Survey were used to calculate the monthly house payments. The report determined affordability for average wage earners by calculating the amount of income needed for major home ownership expenses on a median-priced home, assuming a loan of 20 percent of the purchase price and a 28 percent maximum "front-end" debt-to-income ratio. For example, the nationwide median home price of $278,000 in the first quarter of 2021 required an annual wage of $52,523, based on a $222,400 loan and monthly expenses not exceeding the 28 percent barrier — meaning households would not be spending more than 28 percent of their income on mortgage payments, property taxes and insurance. That required income was less than the $61,984 average wage nationwide based on the most recent average weekly wage data available from the Bureau of Labor Statistics, making a median-priced home nationwide unaffordable for average workers. About ATTOM Data Solutions ATTOM Data Solutions provides premium property data to power products that improve transparency, innovation, efficiency and disruption in a data-driven economy. ATTOM multi-sources property tax, deed, mortgage, foreclosure, environmental risk, natural hazard, and neighborhood data for more than 155 million U.S. residential and commercial properties covering 99 percent of the nation's population. A rigorous data management process involving more than 20 steps validates, standardizes and enhances the data collected by ATTOM, assigning each property record with a persistent, unique ID — the ATTOM ID. The 9TB ATTOM Data Warehouse fuels innovation in many industries including mortgage, real estate, insurance, marketing, government and more through *flexible data delivery solutions that include bulk file licenses, property data APIs, real estate market trends, marketing lists, match & append and introducing the first property data delivery solution, a cloud-based data platform that streamlines data management – Data-as-a-Service (DaaS).
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Majority of Realtors Self-Initiate Career and Cite Self-Motivation, People and Problem-Solving Skills as Most Important Traits to Success
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Matterport Launches Capture App for Android
When it comes to helping you digitize physical spaces, Matterport has always believed the less friction the better. It's your world, and we want to help you capture it. That's why when we shipped our first 3D camera, we paired it with the Matterport Capture app so that anyone could download it on their iPhone or iPad and use it to scan spaces in a simple and intuitive way. As we expanded our lineup of supported cameras to include 3D LiDAR scanners, 360 cameras, and even the camera on your iPhone, the Capture app on iOS was always at the center of our user experience because we wanted to make using Matterport easy, flexible, and instantly familiar. Today, we've reached a major milestone In our quest to make 3D capture accessible to everyone. We are excited to announce that the Matterport Capture app is now generally available in the Google Play store, with support for over 3,500 unique Android devices in 12 different languages. Capture for Android works as flexibly and simply as on iOS, making it a cinch to connect a Matterport Pro2 or six of the most popular 360 cameras made by our partners, Insta360 and Ricoh. So if you or your company already uses the Matterport platform, the free app can be downloaded onto the compatible Android devices you already own, making it fast and easy to mobilize more people on your team to capture spaces. If you don't own a compatible camera, check out the options below. The Matterport Pro2 is the right pick if you are scanning a large volume of spaces and high accuracy and image quality are important to you. If portability and affordability are key factors, then choose a 360 camera. They are a great choice for scanning small to medium size spaces. You can compare cameras here. Check out this video to see how easy it is to get started. And then download the free Matterport Capture app on Google Play today. We're excited to know what you think. Learn more Below is more information on Matterport Capture for Android. Note that additional information on requirements and support can also be found on our support page. Minimum Requirements for Supported Android Devices Android OS - 8.X (Oreo), 9.X (Pie) , 10.X (Q), 11.X 3 GB of RAM or more Android devices certified by Google and unrooted. Modern devices with a 64-bit architecture Supported Cameras Matterport Pro2 3D camera Matterport Pro2 Lite 3D camera Matterport Pro 3D Camera Insta360 ONE X Insta360 ONE R Insta360 ONE X2 Ricoh Theta Z1 Ricoh Theta V Ricoh Theta SC2 Supported languages 12 languages including, English, French, German, Spanish, Italian, Dutch, Russian, Brazilian Portuguese, Japanese, Korean, Chinese (Simplified), Chinese (Traditional). We'll keep on building and adding to this list, and please stay tuned for updates on Matterport for Android, giving you the ability to capture 3D spaces using just the camera on your Android device To view the original post, visit the Matterport blog.
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The American Dream is the No. 1 Reason Why Millennials Want to Buy a Home
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Now May Be the Best Time to Save Thousands on a Lease in the Nation's Largest Tech Hubs, According to Realtor.com Rental Report
In San Jose, Calf., renters signing a 12-month lease today would save nearly $5,000 compared to pre-pandemic prices SANTA CLARA, Calif., March 16, 2021 -- Rents continued their downward spiral in many of the nation's largest housing markets in February, but they may have hit their bottom, according to the realtor.com Monthly Rental Report released today. For those looking to move or return to the big city, acting now while rents are still at their lowest could mean saving thousands of dollars a year. "Housing markets like San Francisco, Santa Clara, Calif., Boston and Seattle have seen rents decline by double digits since the start of the pandemic and rent growth across the nation remains lower than pre-COVID levels. However, the downward trend is leveling off and rents may have hit their bottom in many markets," said realtor.com® Chief Economist Danielle Hale. "With the COVID-19 vaccination rates improving, returning to work and the city may be on the minds of many. For those looking to capitalize on rock-bottom rents, finding a new unit now could make sense. You'll not only save money, you'll have less competition finding the location that's best for you." In February, the U.S. median rent, which is calculated by averaging the median rent of the 50 largest metros, was up 0.6% to $1,452, well below its pre-COVID growth rate of 3.2%. With rent growth stabilizing over the past three months, rents could begin to return to pre-COVID growth rates in the coming months. Rent savings in tech markets could add up to thousands of dollars Although rents have begun to stabilize, and even rise by double-digits in some markets like New Orleans, Sacramento, Calif., Memphis and Riverside, Calif., where rents rose 18.7%, 11.0% 10.8% and 10.7%, respectively in February, that's not the case in many of the nation's largest tech hubs. In San Jose, Calif., situated in the heart of Silicon Valley, median rent was $2,690 in February, 13.2%, or $410, less than a year earlier. Renters signing a 12-month lease today would save nearly $5,000, compared to pre-pandemic prices for the same unit. They'd save almost as much in neighboring San Francisco, where rents were down nearly 13% from a year ago in February. Tech hub markets - Typical savings versus last year's rents February 2021 rental data - 50 largest metropolitan areas Methodology Rental units include apartment communities as well as private rentals (condos, townhomes, single-family homes). All units were studio, one-bedroom, or two-bedroom units. National rents were calculated by averaging the medians of the 50 largest metropolitan areas. About realtor.com® Realtor.com® makes buying, selling, renting and living in homes easier and more rewarding for everyone. Realtor.com® pioneered the world of digital real estate more than 20 years ago, and today through its website and mobile apps is a trusted source for the information, tools and professional expertise that help people move confidently through every step of their home journey. Using proprietary data science and machine learning technology, realtor.com® pairs buyers and sellers with local agents in their market, helping take the guesswork out of buying and selling a home. For professionals, realtor.com® is a trusted provider of consumer connections and branding solutions that help them succeed in today's on-demand world. Realtor.com® is operated by News Corp [Nasdaq: NWS, NWSA] [ASX: NWS, NWSLV] subsidiary Move, Inc. under a perpetual license from the National Association of REALTORS®. For more information, visit realtor.com®.
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Millennials Dominate Buying Market, Generation Z Now Active Buyers, Says NAR Report
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REALM and Aidentified Integration Drives the Future of Luxury Real Estate through Technology and Innovation
DENVER, CO - March 17, 2021 -- REALM, the leading global real estate membership, comprised of top agents in over 28 states and nine countries, takes high-powered global networking to a new level by marrying its patented technology, unprecedented data integration, and personal connections of the world's top real estate professionals with Aidentified's unmatched sales and relationship intelligence technology. This dynamic pairing enables REALM members to be matched with clients based upon pre-existing relationships and enhances client data to a level that has never been seen before in the industry. "REALM has always been at the forefront of leading technological advances, driven by lifestyle, culture, and defining shifts in luxury," says REALM Founder and CEO, Julie Faupel. "The integration of Aidentified into REALM's proprietary technology is yet another example of how REALM is redefining the future of luxury real estate." "We believe that the connection between Aidentified and REALM inspires an unparalleled level of connectivity between real estate brokers and their clients," says Tom Aley, Chairman and CEO of Aidentified. "We extend the broker network by leveraging AI-informed non-obvious connections including job positions and board overlap, even down to households and neighbor connections. This exponentially multiplies the reach of their sphere and uncovers new opportunities for brokers to engage." REALM's expanded offering through Aidentified's technology has already attracted some of the most luxurious new developments in the world. "At 181 Fremont in San Francisco, relationships and technology are key to sharing our spectacular residences with clients from Silicon Valley and around the world," says Leo Mederios, Director of Sales for 181 Fremont Residences. "The addition of Aidentified's intelligence to REALM delivers deeper connections that will be a game-changer for us." Aidentified's data integration is now available to all members of REALM to drive connections with hyper-targeted, qualified prospects using predictive analytics and next level AI-based relationship intelligence mapping. REALM member Nina Hatvany of Compass in San Francisco responds. "REALM launched as the pandemic drastically curbed the ability of real estate agents to connect to their peers and clients in person. This data-driven technology platform offers focused matching algorithms that help pair clients to the type of properties they will prefer. It has become an invaluable tool that fosters relationships with other top agents across the country providing a smarter way to acquire and sell properties on behalf of our clients in a historically competitive market." This is another example of how REALM has continued to forge strong with a myriad of data-rich firms to deepen the offerings to luxury agents whose clients expect only the best. About REALM REALM is the first globally collaborative real estate platform that combines real-time data with human experience and networking. Its membership is comprised of the most accomplished real estate professionals ever assembled. A REALM membership is a relationship enhancer, with a game-changing technology platform that will enhance client data, provide a lifestyle profile for a member's clients, and then match elite REALM members anywhere in the world based on the clients they represent and the listings they have. To learn more, go to https://www.realmglobal.com About Aidentified Aidentified was founded by twin brothers Darr and Tom Aley after a number of successful data related ventures and work at Amazon, D&B, and Dow Jones. The unmet opportunity they saw was the "Holy Grail" of combining an individual's consumer and professional attributes into a unified single household profile, using new technology to surface relevant relationships. Leveraging 210 million U.S. profiles, Aidentified uses the latest AI and machine learning technologies that allow its customers to search for prospects based on recent wealth events that include stock trades, mergers and acquisitions, IPOs, management changes, new company investments, income, age, location, position within a company, personal interests and more. Aidentified's proprietary Relationship Mapping algorithms further help by connecting customers' personal and corporate networks and their client networks to find the strongest path to a prospect. (www.aidentified.com)
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Real Estate Agents Eligible for PPP Loans Until March 31
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Matterport Partnership with roOomy Accelerates Real Estate Transactions, Opens Up New Revenue Opportunities for Retailers
Virtually staged 3D experiences unlock new benefits for businesses and consumers alike SUNNYVALE, Calif., March 10, 2021 -- Matterport, the spatial data company leading the digital transformation of the built world, today announced its continued partnership with roOomy to provide virtual staging capabilities to residential and multifamily real estate customers. Potential buyers and renters can view staged properties and more deeply understand and visualize the potential for spaces 100% virtually, anytime from any device. Now, they can decide whether listings are right for them without in-person viewings, enabling the industry to thrive under social distancing restrictions. Consumers can also search for, decide on, and buy furnishings for their property within the Matterport digital twin. "Virtual staging is one of the key services our customers consistently request. Our partnership with roOomy provides real estate professionals, home buyers or renters, and retailers with completely new ways to promote, choose, and furnish the homes they want to live in," said Jay Remley, Chief Revenue Officer of Matterport. Together, Matterport and roOomy bring tangible benefits to agents and property managers. According to industry research, vacant homes sell for over $11,000 less and spend six more days on the market. Many agents and real estate managers have already leveraged virtual staging as an easy alternative to physical staging. Agents shorten days-on-market for listings and multifamily property managers give people the opportunity to decide on flooring and other upgrades. "We have been investigating how to improve our efficiency by moving from 'live' to 'virtual' staging. We started with Matterport over three years ago and have broadened our reach by attracting clients that are tech savvy. roOomy virtual staging adds another level of sophistication, allowing clients to imagine how their furniture might look in our apartments which saves us a tremendous amount of time," said Brittany Kate Gvazdinskas, COO, Safe Harbor Properties. View one of their virtually staged apartments here. Retailers are also realizing significant benefits using 3D digital twins in place of 2D photography. A survey conducted by roOomy revealed that people moving into new homes spend five times more on furnishings. However, 65% said that buying new furniture at once, shopping for pieces to design their space, and finding furnishings to match their existing furniture were top pain points. As a result, major home furnishing brands are responding by offering consumers the opportunity to make purchases directly within the virtual staging platform. "Virtual staging is truly driving the connection between retail and real estate," said Pieter Aarts, Co-Founder of roOomy. "Our partnership with Matterport delivers a dynamic experience for viewing properties and home interiors." To order a virtually staged Matterport 3D tour, customers simply share a copy of the Matterport model to be staged with roOomy, select a design style, and place their order here. Once virtual staging is complete, the customer receives panorama proofs for approval before the final high-resolution tour is prepared and shared. About Matterport Matterport is leading the digital transformation of the built world. Our groundbreaking spatial computing platform turns buildings into data making every space more valuable and accessible. Millions of buildings in more than 150 countries have been transformed into immersive Matterport digital twins to improve every part of the building lifecycle from planning, construction, and operations to documentation, appraisal and marketing. Learn more at matterport.com and browse a gallery of digital twins. In February 2021, Matterport announced that it has entered into a definitive agreement to merge with Gores Holdings VI (NASDAQ: GHVI, GHVIU, and GHVIW), a special purpose acquisition company sponsored by an affiliate of The Gores Group, LLC, that will result in Matterport becoming a publicly listed company. Upon closing of the proposed transaction, the combined company will be named "Matterport, Inc." and intends to remain listed on NASDAQ under the ticker symbol "MTTR." About roOomy roOomy's technology is leading the way for real estate professionals and home furnishings retailers to better visualize their space and products. Through its patented ability we convert simple 2D imagery into assets that can be leveraged across 3D, augmented and virtual reality platforms at a scale and efficiency unavailable until now. roOomy takes it one step further and virtually stages Matterport Tours utilizing their Designer platform. With more prospective buyers and renters using digital applications to help with their decisions, nimble visualization tools become more important every day. roOomy's award-winning virtual staging and rendering services enables agents and brokers to showcase their listings as immersive experiences, in any style, with real products that can easily be shopped from the roOomy platform, all at a fraction of the cost of traditional staging methods. More information about roOomy is available at www.rooomy.com.
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BoomTown Selected for Facebook's Real Estate Top Provider Initiative
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More than 200,000 New Listings Are Missing from U.S. Housing Market, According to Realtor.com February Housing Report
Extreme weather across most of the country pushed new listings to a record low that will be difficult to dig out from, while prices hit a new high SANTA CLARA, Calif., March 4, 2021 -- February's extreme weather throughout the U.S. exacerbated the housing market's inventory woes, pushing the pace of new listings coming onto the market further behind pre-pandemic levels, according to the realtor.com Monthly Housing Trends Report released today. Unless the trend reverses itself, buyers will be in for a much more competitive homebuying season than last year. "Last month's record cold and snowstorms likely caused sellers to hit pause, even if only temporarily," said realtor.com® Chief Economist Danielle Hale. "However, in today's inventory-starved market, any setback is significant. Unless we see some big improvements in the new listings trends over the coming months buyers can expect stiff competition. And unlike last spring, buyers may also face affordability challenges as home prices and mortgage rates increase. Market dynamics continue to favor sellers." According to realtor.com® data, 14.8% of the year's total new listings came to market in January and February in 2017-2019, and new listings in these months were an even bigger share in 2020 as COVID scared off many would-be sellers later in the year. Approximately 207,000 fewer homes were newly listed for sale during the first two months of 2021, compared with the average for those two months over the last four years. New listings would need to increase by 25% year-over-year in March and April to bring the year to date figure back to April 2020's levels. Severe winter storms across the U.S. drive inventory down further The number of homes for sale in the U.S. in February was down 48.6% year-over-year, a new low that translated into 496,000 fewer homes for sale. New listings were down 24.5% year-over-year, with the biggest drop -- 35.2% -- occurring in the third week of February, the most extreme weather week of a very cold and snowy month. New listings recovered to a smaller decline of 26.9% year-over-year in February's final week as conditions eased. Housing inventory in the 50 largest U.S. metros declined by 47.4% over last year in February, an increase from January's 41.8% decline. New listings in the 50 largest U.S. metros were down 23.5% year-over-year. For some metros, the declines were far more significant with new listings falling 47% in Oklahoma City, Okla., 45% in Kansas City, Mo.-Kan. and 40% in Milwaukee-Waukesha-West Allis, Wis. Two of three metros with increases in new listings were in California. New listings were up 13.6% in San Jose, Calif., followed by San Francisco (1.1%), and Denver (1.1%) year-over-year. Listing prices reach new high In February, the median national home listing price grew 13.7% over last year to $353,000, surpassing last year's peak price unseasonably early. The slowdown from last month's growth rate of 15.4% was likely due to a change in the mix of homes for sale. Listing prices in the nation's 50 metros grew by an average of 11.5%, compared to last year. Regionally, the Northeast saw the biggest jump in listing prices, increasing at an average rate of 16.8% over last year. Prices were up 11.7% in the West, 10.9% in the Midwest and 9.5% in the South. At the metro level, Austin, Texas, (+37.2%), Rochester, N.Y. (+27.6%) and Buffalo, N.Y. (+25.0%) posted the highest year-over-year median listing price growth in February. Miami (-2.7%), Denver (-1.7%), and Orlando, Fla. (-1.1%), were the only top 50 metros to see their median listing price decline year-over-year in February. Buyers need to act fast The typical home spent 70 days on the market in February, 11 days less than last year. Time on market was even faster in the 50 largest U.S. metros where the typical home sold in 48 days, 12 days less than a year ago. Homes saw the greatest decline in time spent on the market compared to last year in Austin, Texas (-36 days), Charlotte, N.C. (-28 days) and Portland, Ore. (-27 days). Metros With the Largest Decline in Newly Listed Homes   *Some data for Pittsburgh, New York, and San Diego has been excluded due to data quality. About realtor.com® Realtor.com® makes buying, selling, renting and living in homes easier and more rewarding for everyone. Realtor.com® pioneered the world of digital real estate more than 20 years ago, and today through its website and mobile apps is a trusted source for the information, tools and professional expertise that help people move confidently through every step of their home journey. Using proprietary data science and machine learning technology, realtor.com® pairs buyers and sellers with local agents in their market, helping take the guesswork out of buying and selling a home. For professionals, realtor.com® is a trusted provider of consumer connections and branding solutions that help them succeed in today's on-demand world. Realtor.com® is operated by News Corp [Nasdaq: NWS, NWSA] [ASX: NWS, NWSLV] subsidiary Move, Inc. under a perpetual license from the National Association of REALTORS®. For more information, visit realtor.com.
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Planitar Heats Up Competition in 3D Virtual Tour Space with Its New iGUIDE PLANIX Camera System
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Buyers Carry Momentum Into 2021, Led By a Record Number of Home Tours In Austin, Boulder, Denver and Seattle Per Data from ShowingTime
Double-digit showings per listing in 16 of the top 20 cities tracked, including Columbus and Akron, Ohio, Portland, Ore., Omaha, Neb., and Springfield, Mass. CHICAGO - (February 23, 2021) -- ShowingTime, the residential real estate industry's leading showing management and market stats technology provider, reported that home shoppers carried their end-of-year showing activity momentum into January, with home tours across the country up 55.1 percent year-over-year as more listings came on the market in some metro areas. "Austin, Boulder, Denver and Seattle all logged substantial month-over-month increases in showings," said ShowingTime President Michael Lane. "With a limited number of homes to see, showings per listing jumped to levels we’ve never seen before. Seattle recorded more than 26 showings per listing in January, Denver had 23 and Austin recorded 18 showings per listing. The nationwide average in the markets we track is eight showings per listing." Other cities – including Ocean City, N.J., Madison, Wis., Salt Lake City, Utah and Columbus, Ohio – all recorded at least 70 percent increases in showings versus December. "It's clear that buyers decided to come out in January instead of waiting until spring to shop for homes," Lane said. "While the winter storms that affected most of the country in February will have a downward impact and will be reflected in our next report, we expect to continue seeing big jumps in buyer activity once cities thaw out and more listings come on the market." For the third consecutive month, the West Region experienced the most significant year-over-year increase in showing activity, with a jump of 90 percent. The other regions also recorded year-over-year increases, though at a slower pace than in December. The Midwest was up 57.3 percent, the Northeast 52.2 percent, and the South increased 51 percent. "As anticipated, demand for real estate remains elevated and continues to be affected by low levels of inventory," said ShowingTime Chief Analytics Officer Daniil Cherkasskiy. "On average, each home is getting 50 percent or more requests this year compared to January of last year. As we head into the busy season, it’s likely we’ll push into even more extreme territory until the supply starts catching up with demand." The ShowingTime Showing Index is compiled using data from more than six million property showings scheduled across the country each month on listings using ShowingTime products and services. The Showing Index tracks the average number of appointments received on active listings during the month. About ShowingTime ShowingTime is the residential real estate industry’s leading showing management and market stats technology provider, with more than 1.5 million active listings subscribed to its services. Its products are used in 370 MLSs representing 1.4 million real estate professionals across the U.S. and Canada. Contact us at [email protected]
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Home Price Increases in Opportunity Zone Redevelopment Areas Keeping Pace with Nationwide Gains
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Goodbye City Life: Rising Rents Match Homebuying Hotspots
Realtor.com January Rental Report finds declines in expensive high-tech hubs persist, while smaller markets that offer quality of life become less affordable SANTA CLARA, Calif., Feb. 18, 2021 -- Renters, much like homeowners, are favoring smaller more affordable markets that offer highly rated schools, strong local economies and more space over expensive tech hubs, a trend that is pushing rents up in many of the same markets where home prices are rising the most, according to the realtor.com® Monthly Rental Report released today. "Although rents across the U.S. have been growing at a slower pace since the onset of COVID-19 and the major tech hubs continue to see declines, some markets are seeing rents grow by double digits," said realtor.com® Chief Economist Danielle Hale. "Many of the same factors that attract homebuyers to an area -- highly rated schools, job opportunities, affordability and quality of life -- attract renters. Like homeowners, the pandemic has given many renters the freedom to work remotely, and the rental trends reflect that reality." In January, the U.S. median rent, which is calculated by averaging the median rent of the 50 largest metros, was up 0.8% to $1,442, below its pre-COVID growth rate of 3.2%. Despite the continued slower growth, January marked the first month since July 2020 where rental growth didn't slow further, indicating that rent growth may have reached a floor. Seven of the top 10 metros with the largest rent increases in January -- New Orleans*; Sacramento, Calif.; Rochester, N.Y.; Cleveland; Riverside, Calif.; Cincinnati and St. Louis -- were also among the metros where home prices grew more than 5% year-over-year. Renters typically have more flexibility to move, and with remote work allowing many people to live anywhere, markets that offer affordability are in hot demand. In California, Riverside and Sacramento have become desirable alternatives to the pricey Bay Area and Los Angeles housing markets. Despite a sizable 9.6% increase in the last year, the median rent in the Riverside metro was $1,858 in January, 25.4% lower than the median rent in neighboring Los Angeles. Likewise, the median rent in Sacramento was $1,649 in January, still 36.8% lower than the median rent in San Francisco despite its 11.0% rise in the last year. Four of the top 10 markets with the largest year-over-year rent increases in January are located in the Midwest, a region that in recent years has attracted affordability-minded homeseekers looking for an alternative to the pricer coastal markets. Markets With the Largest Rent Increases in January 2021 Markets With the Largest Rent Decreases in January 2021 Rental Data - 50 Largest Metropolitan Areas January 2021 *Editor's Note: New Orleans' exceptional year-over-year growth in median rent was driven by shifts in the underlying inventory of rental units. The number of studio units has declined by 17% year-over-year, while one-bedroom and two-bedroom unit inventory has increased by 50% and 31%, respectively. The larger space commands larger rents, therefore driving up the median rent in the area. Methodology Rental units include apartment communities as well as private rentals (condos, townhomes, single-family homes). All units were studio, one-bedroom, or two-bedroom units. National rents were calculated by averaging the medians of the 50 largest metropolitan areas. About realtor.com® Realtor.com® makes buying, selling, renting and living in homes easier and more rewarding for everyone. Realtor.com® pioneered the world of digital real estate more than 20 years ago, and today through its website and mobile apps is a trusted source for the information, tools and professional expertise that help people move confidently through every step of their home journey. Using proprietary data science and machine learning technology, realtor.com® pairs buyers and sellers with local agents in their market, helping take the guesswork out of buying and selling a home. For professionals, realtor.com® is a trusted provider of consumer connections and branding solutions that help them succeed in today's on-demand world. Realtor.com® is operated by News Corp [Nasdaq: NWS, NWSA] [ASX: NWS, NWSLV] subsidiary Move, Inc. under a perpetual license from the National Association of REALTORS®. For more information, visit realtor.com®.
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NAR's "That's Who We R" Advertising Campaign Highlights How Realtors Open Doors to Opportunity for Their Clients and the Communities They Serve
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Rental Beast and eCommission Announce Partnership to Offer Flexible Payment Option
This partnership will allow real estate agents the option to purchase a Rental Beast subscription using future commissions. SOMERVILLE, MA, 9 February 2021 -- Today, Rental Beast, the only fully integrated SaaS platform in the real estate market with a comprehensive listing database of nearly 9 million rentals nationwide, announced its partnership with eCommission to launch a new, innovative payment option called Access. Access will offer real estate agents the flexibility to purchase a Rental Beast subscription using future commissions as an alternative to cash or credit. Easy to use, convenient, and free for 90-days, Access allows agents to take control of their cash flow and keep growing their businesses. Agents can purchase a full year or two-year subscription using Access and gain immediate access to Rental Beast's suite of premium tools, paying for their subscription only after earning a commission. This partnership advances Rental Beast's goal of simplifying the rental market and helping real estate agents build a sustainable business with rentals. "We're absolutely thrilled to offer Access as a payment option for Rental Beast subscribers," said Ishay Grinberg, founder and CEO of Rental Beast. "In this difficult environment, real estate agents need tools to thrive, including flexible payment options. We believe this is especially game-changing for new agents, who can immediately access a tool that can greatly increase their earnings. We're so excited to make it easier for agents to build Rental Beast into their businesses." "Access gives agents the flexibility to invest in their businesses today without having to immediately come out of pocket," said Sean Whaling, eCommission Founder and CEO. "We are thrilled to offer our Buy Now, Pay Later solution to Rental Beast subscribers as a superior alternative to credit cards." Together, the two companies will increase the accessibility of crucial tools for real estate agents to monetize rentals, and, effective on February 10th, Access will be an available payment option for Rental Beast. Throughout 2021, Rental Beast plans to continue to expand and develop more tools to help real estate agents grow their businesses. About Rental Beast Rental Beast is an end-to-end SaaS platform empowering real estate professionals with powerful productivity tools and the nation's most comprehensive database of nearly nine million off-MLS rental properties. Sourced directly from property owners, updated in real time, and offering a fulfillment-grade rental dataset, the Rental Beast database provides real estate professionals with an unparalleled view of all properties and owner types. About eCommission and Access™ eCommission is the company that operates Access. eCommission is the leading provider of working capital to real estate professionals since 1999, with more than $1.4 billion of commissions funded to satisfied customers nationwide. eCommission is a nationally endorsed alliance partner to the industry's largest real estate brands, independent brokerages, and technology companies. More information about eCommission and Access™ can be found at http://www.eCommission.com and http://www.buynowpayatclosing.com
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Buyers on Notice: Act Quickly and Be Prepared to Pay Up, According to Realtor.com January Housing Report
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New for Homesnap Concierge: Get Live Calls with Google Local Services Ads
When we launched Homesnap Concierge, our fully managed advertising and lead qualification service, our goal was simple: Deliver agents better leads at a lower cost than third-party advertising platforms like Zillow Premier Agent and realtor.com. So far, we believe we've made good on that promise. Concierge agents have generated nearly 400,000 high-intent homebuyer and seller leads to date and have saved hundreds of thousands of dollars on the promotion of their listings and business. Now, we're excited to announce we've made our industry-leading platform even better. Starting today, Concierge is one of the only services that lets real estate agents incorporate Google Local Services (GLS) Ads into their marketing campaigns. What is a Google Local Services Ad? A brand-new advertising product from Google, GLS Ads seamlessly facilitate contact from homebuyers and sellers to real estate agents in their market. They're prioritized at the top of the Google search page, above traditional paid search advertisements, and enable prospects to live call an agent directly from their desktop or mobile device. There's no friction, form fills, or needless clicks. Best of all, you'll only ever pay for quality leads. The Concierge team ensures that every call you receive from a GLS Ad originates from an interested buyer and seller. Should you receive a non-high-intent call, we'll work with Google on your behalf so you're not wasting a dime of your hard-earned money. With Concierge, you're guaranteed an advertising platform fully optimized to get you maximum ROI on your marketing spend. But that's not the only advantage of Concierge. Do-it-yourself GLS Ads require verification of your real estate business via snail mail – a process that can take weeks. However, as an exclusive Google launch partner, Homesnap will verify your business and help you receive a “Google Screened” badge, which engenders trust with prospects and helps you rank higher. You'll get your ads live sooner, and, most importantly, you'll gain an edge on your competition, as you'll be among the first verified agents in your market to go live. Pro Tip: Make sure you answer GLS calls. Google measures agent call responsiveness (calculated by the number of connected calls/total calls), which factors into your ranking position. The more you pick up, the higher your likelihood of being seen first. Still the same great Concierge benefits GLS Ads are an addition to our Concierge platform—not a replacement for any of its great features. Concierge remains the gold standard in white-glove treatment. Homesnap's experienced Concierge marketing team will continue to take a hands-on approach to optimizing and running agent advertising campaigns for an unlimited number of listings on major networks like Google, Facebook, and Instagram. We'll target the most-likely-to-transact leads on these platforms with hyper-targeted and personalized ads and qualify them for you. Then, we'll send you the qualified, hot leads right away, and continue to nurture the rest until they are ready to convert. You'll have full transparency into this process. We'll update you with key metrics daily — where advertisements are appearing, number of leads processed, lead contact information, qualification details, all leads acquired, and more — so you can follow your campaigns every step of the way. And you'll receive a dedicated account manager, whom you can contact at any time with questions or to make changes to your campaigns. The only difference? Now, with GLS Ads, it's even easier to get more high-quality leads for less. How's that for a promise? Talk to a team member to add Google Local Services Ads to your subscription today: [email protected] Not yet a subscriber? Schedule an introductory meeting with a Concierge team member. To view the original post, visit the Homesnap blog.
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U.S. Home Seller Profits Soar in 2020 as Prices Set New Records in Spite of Coronavirus Pandemic
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RateMyAgent Announces 2021 Agent of the Year Award Winners
Inaugural winners represent the future of real estate as they embody the commitment to create remarkable client experiences SAN DIEGO, Jan. 28, 2021 -- RateMyAgent, an agent review and digital marketing platform for real estate professionals to generate, aggregate, and syndicate client reviews, has announced its first ever U.S. based Agent of the Year Award winners. Seven regional winners were selected based on verified review data, transaction volume, and overall quality of their reviews. One of the seven regional winners was selected as the national, Agent of the Year. The winners were celebrated at the inaugural Agent of the Year event held virtually on January 27th in conjunction with Inman Connect, and can be replayed here. The Regional Winners are: New England: Marie Presti, The Presti Group, MA Mid-Atlantic: Ellen Gonik, Coldwell Banker Residential Brokerage,NJ Midwest: John Scaglione, Coldwell Banker Schmidt Realty, OH Southeast: Jeff Tricoli, Keller Williams Preferred Partners, FL Southwest: Wendy Foreman, eXP Realty, OK Mountain: Jan Baer, Baer Realty, CO West: Drew Coleman, Hassan Company Realtors, OR The Inaugural National Winner and 2021 US Agent of the Year is: Jeff Tricoli, Keller Williams Preferred Partners, FL The awards represent excellent customer service and celebrate agents who have created remarkable client experiences. This is the first industry-wide, brokerage-agnostic awards program based primarily on client satisfaction and quality review data, instead of transaction and sales volume alone. It's an important next step in changing the focus to improving the consumer experience and collectively raising the real estate bar together. "Congratulations to our first 2021 U.S Agent of the Year Award winners. The award acknowledges agents in our industry who go above and beyond for American homeowners. With performance-based reviews as a qualifier, receiving an Agent of the Year Award means to have received the highest satisfaction rating across the country – and this is something our winners should be tremendously proud of achieving," said Mark Armstrong, RateMyAgent co-founder and executive director. Access the full list of winners by National Top 100, Regional Top 20 and State Top 10 here. About RateMyAgent RateMyAgent is an Australia-based review platform now expanding rapidly in the United States. In Australia, RateMyAgent is used by agents who sell 80% of property across Australia and get reviews for 1 in 3 homes sold nationally. RateMyAgent launched in the United States in 2018 and has partnerships with MLS's from Florida to California, including CRMLS, the country's largest MLS. They are the first review platform to be included in NAR's REACH Accelerator Program. RateMyAgent is listed on the Australian stock exchange. More information about RateMyAgent can be found at www.ratemyagent.com
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Buyer Activity Continued Its Late-season Surge Across the U.S., Led by Denver, Colorado Springs and Three Utah Cities
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Realtor.com Adds Knock's Home Swap to Seller's Marketplace
Homeowners looking to buy and sell at the same time can now learn more about Knock's Home Swap and eligibility on realtor.com SANTA CLARA, Calif., Jan. 26, 2021 -- Buying and selling a home at the same time can be a tricky process, especially in a competitive housing market. To help homeowners learn about one way to ease the process, realtor.com® has added Knock's Home Swap offering to its Seller's Marketplace. Seller's Marketplace empowers homeowners to sell their home their way by providing information about selling options offered by third-party providers and eligibility in their area. "Signing a contract to buy a new home without having to sell at the same time can make the homebuying process simpler and far less stressful," said realtor.com® Chief Product Officer Rachel Morley. "There are a lot of options available for selling a home, and by adding information about Knock's Home Swap to Seller's Marketplace, consumers can explore more selling options that can help streamline the process of moving to a new home." Knock's Home Swap allows homeowners to make a non-contingent offer on a new home before they sell their old house on the open market. Home Swap is currently available in 15 markets across Arizona, Colorado, Florida, Georgia, North Carolina and Texas. "Homeownership is the American Dream. At the same time, it's often what holds people back," said Knock Co-Founder and CEO Sean Black. "Buying a home is complicated, especially when you have to sell a home. The Home Swap brings certainty, convenience and cost savings to the process, helping a homeowner to win the home of their dreams and move on their terms, avoiding repairs and showings. Unlike an iBuyer, Knock isn't in the business of buying and selling homes. The consumer works with their own agent to list and sell the old house on the open market for the maximum sale price. We're excited to bring the Home Swap to realtor.com®'s users and help them move more freely." Realtor.com® is the only national home search site that enables consumers to compare different selling options and determine the right fit with just a few clicks. Users simply provide basic information about their home and Seller's Marketplace will present them with information about available third-party providers and options in their area. Homeowners will see side-by-side estimates for sale price, timeline and more with no upfront cost or commitment. To learn more about Seller's Marketplace and home selling options, visit: realtor.com/sell/sellers-marketplace. About realtor.com® Realtor.com® makes buying, selling, renting and living in homes easier and more rewarding for everyone. Realtor.com® pioneered the world of digital real estate more than 20 years ago, and today through its website and mobile apps is a trusted source for the information, tools and professional expertise that help people move confidently through every step of their home journey. Using proprietary data science and machine learning technology, realtor.com® pairs buyers and sellers with local agents in their market, helping take the guesswork out of buying and selling a home. For professionals, realtor.com® is a trusted provider of consumer connections and branding solutions that help them succeed in today's on-demand world. Realtor.com® is operated by News Corp [Nasdaq: NWS, NWSA] [ASX: NWS, NWSLV] subsidiary Move, Inc. under a perpetual license from the National Association of REALTORS®. For more information, visit realtor.com®.
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Realtor.com December Rental Report: Rents in Major Cities Continue to Decline Double Digits
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East Coast Housing Market Continues to Dominate Areas Most Vulnerable to Coronavirus Impact
Counties Most At Risk in Fourth Quarter of 2020 Remain Concentrated in States Running from Connecticut through Florida; New York City, Philadelphia and Chicago Areas Have Biggest Clusters of High-Risk Counties; West Region Remains Less Vulnerable IRVINE, Calif. - Jan. 21, 2021 -- ATTOM Data Solutions, curator of the nation's premier property database, today released its fourth-quarter 2020 Special Coronavirus Report spotlighting county-level housing markets around the United States that are more or less vulnerable to the impact of the virus pandemic. The report shows that pockets of the Northeast and other parts of the East Coast remained most at risk in the fourth quarter – with clusters in the New York City and Philadelphia, PA areas – while the West continued to be less vulnerable. The report reveals that New Jersey, Illinois, California, Louisiana, New York, Florida and Maryland had 40 of the 50 counties most vulnerable to the economic impact of the pandemic in the fourth quarter of 2020. They included eight suburban counties in the New York City metropolitan area, four around Philadelphia, PA, and two near Washington, D.C. Another six sat in the Chicago, IL, suburbs and two were in the St. Louis, MO area. Five of the seven western counties in the top 50 during the fourth quarter were in northern California, while Illinois had eight of the nine midwestern counties among those most vulnerable. Outside of Florida and Maryland, the only southern state with more than two counties in the top 50 was Louisiana. Fourth-quarter trends generally continued those found in the third quarter of 2020, but with different concentrations around several major metropolitan areas. The number of counties among the top 50 most at-risk was up from five to eight in the New York, NY, area and from three to six in the Chicago, IL, area, but down from four to two in the Washington, D.C., region and from four to one in the Baltimore, MD area. Markets are considered more or less at risk based on the percentage of homes facing possible foreclosure, the portion with mortgage balances that exceed the estimated property value and the percentage of average local wages required to pay for major home ownership expenses. The conclusions are drawn from an analysis of the most recent home affordability, equity and foreclosure reports prepared by ATTOM. Rankings were based on a combination of those three categories in 499 counties around the United States with sufficient data to analyze in the fourth quarter. Counties were ranked in each category, from lowest to highest, with the overall conclusion based on a combination of the three ranks. See below for the full methodology. The findings come as the national housing market continues to withstand the effect of the virus pandemic while also remaining vulnerable to a fall. Home values shot up in 2020 by more than 10 percent in about three-quarters of the country, even as significant portions of the economy were shut down or idled, spiking unemployment. But amid a halting economic recovery, the ongoing market boom faces major questions connected to how long the pandemic will last, whether another recession looms and if a surge of buyers seen last year continues. "Areas of the U.S. most at risk from damage connected to the Coronavirus pandemic spread out somewhat in the fourth quarter of 2020. But they still fell mainly along the East Coast, with significant pockets in certain areas, while other parts of the country seem to be less vulnerable," said Todd Teta, chief product officer with ATTOM Data Solutions. "This report is not a sign that any area actually took a fall in the fourth quarter. It's more a gauge of areas that may be more vulnerable if the market falters. In the coming months, much will depend on whether the country can halt the pandemic. We will continue to keep a close watch on home sales and prices to see how everything shakes out in 2021 and if changes hit different regions in different ways." Most vulnerable counties clustered around New York City, Philadelphia and Chicago Eighteen of the 50 U.S. counties most at-risk in the fourth quarter of 2020 from housing market troubles connected to the pandemic (from among the 499 counties with enough data to be included in the report) were in metropolitan statistical areas around New York, NY, Philadelphia, PA, and Chicago, IL. They included eight in or near the New York City suburbs (Bergen, Essex, Ocean, Passaic and Sussex counties in New Jersey, along with Dutchess, Orange and Rockland counties in New York), and four around Philadelphia, PA (Burlington, Camden and Gloucester counties in New Jersey plus Delaware County, PA). The other six were in the Chicago, IL, suburbs (DuPage, Kane, Kendall, Lake, McHenry and Will counties). The New York and Chicago metropolitan areas saw increases from the third quarter of 2020 in the numbers of counties in the top 50 list. While seven of Connecticut's eight counties made the top 50 list in the third quarter of 2020, just two did in the fourth quarter – Litchfield and Windham counties. The number of counties on the list in the Baltimore, MD, metro area also fell notably in the fourth quarter, from four to one (Carroll County) and dropped from four to two in the Washington, D.C, area (Charles County, MD, and Prince George's County, MD). The only western counties among the top 50 most at risk from problems connected to the Coronavirus outbreak in the fourth quarter of 2020 were Butte County (Chico), CA; El Dorado County, CA (outside Sacramento); Humboldt County (Eureka), CA; Madera County, CA (outside Fresno); San Bernardino County, CA; Shasta County (Redding), CA; and Santa Fe County, NM. Louisiana also had four counties in the top 50 during the fourth quarter – Caddo Parish (Shreveport), Livingston Parish (outside Baton Rouge), Orleans Parish (New Orleans) and Tangipahoa Parish (north of New Orleans). Florida had another three – Bay County (Panama City) Charlotte County (outside Fort Myers) and Flagler County (outside Daytona Beach). Higher levels of unaffordable housing, underwater mortgages and foreclosure activity in most-at-risk counties Major home ownership costs (mortgage payments, property taxes and insurance) consumed more than 30 percent of average local wages in 36 of the 50 counties that were most vulnerable to market problems connected to the virus pandemic in the fourth quarter of 2020. The highest percentages in those counties were in Rockland County (65 percent of average wages needed for major ownership costs); El Dorado County, CA, (outside Sacramento) (57.8 percent); Bergen County, NJ (outside New York City) (55.3 percent); Delaware County, PA (outside Philadelphia) (52 percent) and Beaufort County (Hilton Head), SC (51.7 percent). Nationwide, major expenses on the median-priced home typically consumed 29.6 percent of average wages. At least 15 percent of mortgages were underwater in the third quarter of 2020 (the latest data available on owners owing more than their properties are worth) in 33 of the 50 most at-risk counties. Nationwide, 12.3 percent of mortgages fell into that category. Those with the highest underwater rates in those counties were Lowndes County (Valdosta), GA (36.8 percent of mortgages underwater); Hardin County, KY (outside Louisville) (32.8 percent); Cumberland County (Vineland), NJ (30.8 percent); Caddo Parish (Shreveport), LA (28.6 percent) and Atlantic County (Atlantic City), NJ (27.8 percent). More than one in 2,500 residential properties faced a foreclosure action in the third quarter of 2020 (the latest available data) in 29 of the 50 most at-risk counties. Nationwide, one in 5,048 homes were in that position. (Foreclosure actions dropped about 80 percent last year amid a federal moratorium on banks taking back properties from homeowners behind on their mortgages during the virus pandemic.) Those with the highest rates in those counties were Hardin County, KY (outside Louisville) (one in 1,032 residential properties facing possible foreclosure); Onslow County (Jacksonville), NC (one in 1,090); Caddo Parish (Shreveport), LA (one in 1,361); Saint Clair County, IL (outside St. Louis, MO) (one in 1,409) and Livingston Parish, LA (outside Baton Rouge) (one in 1,562). Counties least at-risk concentrated in Colorado, Massachusetts, Minnesota and Texas Eighteen of the 50 counties least vulnerable to pandemic-related problems from among the 499 included in the fourth-quarter report were in Colorado, Massachusetts, Minnesota and Texas. They were concentrated in the Denver, Boston, Minneapolis, Houston and Dallas metro areas. The largest of the 50 least at-risk counties were Harris County (Houston), TX; King County (Seattle), WA; Clark County (Las Vegas), NV; Tarrant County (Fort Worth), TX and Middlesex County, MA (outside Boston). Others among the 50 least at-risk counties with a population of at least 500,000 included Hennepin County (Minneapolis), MN; Suffolk County (Boston), MA; Essex County, MA (outside Boston); Norfolk County, MA (outside Boston) and Denver County, CO. Lower levels of unaffordable housing, underwater mortgages and foreclosure activity in less vulnerable counties Major home ownership costs (mortgage, property taxes and insurance) consumed less than 30 percent of average local wages in 33 of the 50 counties that were least at-risk from market problems connected to the virus pandemic in the fourth quarter of 2020. The lowest percentages in those counties were in Marion County (Indianapolis), IN (18.6 percent of average local wages required for major ownership costs); Benton County (Rogers), AR (19.6 percent); Potter County (Amarillo), TX (20.4 percent); Niagara County (Niagara Falls), NY (20.5 percent) and Macomb County, MI (outside Detroit) (20.6 percent). More than 15 percent of mortgages were underwater in the third quarter of 2020 (with owners owing more than their properties are worth) in none of the 50 least at-risk counties. Those with the lowest rates in those counties were Chittenden County (Burlington), VT (3.5 percent); King County (Seattle), WA (4.8 percent); Washington County, OR (outside Portland) (4.8 percent); Marion County (Salem), OR (5.2 percent) and Boulder County, CO (5.2 percent). More than one in 2,500 residential properties faced a foreclosure action in the third quarter of 2020 in none of the 50 least at-risk counties. Those with the lowest rates in those counties included Eau Claire County, WI (no residential properties facing possible foreclosure); Norfolk County, MA (outside Boston) (one in 277,275); Marion County (Salem) OR (one in 125,190); Clark County (Las Vegas), NV (one in 88,856); Suffolk County (Boston), MA (one in 83,310) and Middlesex County, MA (outside Boston) (one in 79,073). Report methodology The ATTOM Data Solutions Special Coronavirus Market Impact Report is based on ATTOM's third-quarter 2020 residential foreclosure and underwater property reports and fourth-quarter 2020 home affordability report. (Press releases for those reports show the methodology for each.) Counties with sufficient data to analyze were ranked based on the percentage of residential properties with a foreclosure filing during the third quarter of 2020, the percentage of properties with outstanding mortgage balances that exceeded estimated market values in the third quarter of 2020 and the percentage of average local wages need to afford the major expenses of owning a median-priced home in the fourth quarter of 2020. Ranks then were added up to develop a composite ranking across all three categories. Equal weight was given to each category. Counties with the lowest composite rank were considered most vulnerable to housing market problems. Those with the highest composite rank were considered least vulnerable. About ATTOM Data Solutions ATTOM Data Solutions provides premium property data to power products that improve transparency, innovation, efficiency and disruption in a data-driven economy. ATTOM multi-sources property tax, deed, mortgage, foreclosure, environmental risk, natural hazard, and neighborhood data for more than 155 million U.S. residential and commercial properties covering 99 percent of the nation's population. A rigorous data management process involving more than 20 steps validates, standardizes and enhances the data collected by ATTOM, assigning each property record with a persistent, unique ID — the ATTOM ID. The 20TB ATTOM Data Warehouse fuels innovation in many industries including mortgage, real estate, insurance, marketing, government and more through flexible data delivery solutions that include bulk file licenses, property data APIs, real estate market trends, marketing lists, match & append and introducing the first property data delivery solution, a cloud-based data platform that streamlines data management – Data-as-a-Service (DaaS).
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RealtyFeed and Generation Z Are the Future of Real Estate
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Is the Beach So Last Year?
Realtor.com report: "Snowbirds" typically searching for sun are favoring nearby ski towns more than ever as they look to escape closer to home SANTA CLARA, Calif., Jan. 15, 2021 -- Searches of homes in ski towns were up nearly 36% year-over-year in the fourth quarter of 2020, according to a new report from realtor.com®. Much of the increased demand is coming from residents of cold weather, Northern states, often referred to as Snowbirds, as they search for homes with outdoor recreation options closer to home during pandemic. "Historically, residents of the Midwest and Northeast have shown a preference for warmer cities, and contributed to much of the out-of-state demand in homes in sunny states, such as Florida," said realtor.com® Chief Economist Danielle Hale. "This year, we found that Snowbirds' interest in ski towns increased more than interest from other areas across the country. It's not surprising. Americans are increasingly searching for getaways that are within driving distance. Skiing is done outdoors and generally at a distance from others, making it a relatively safe sport during the pandemic. Many of these areas offer year-round outdoor activities, making them summer destinations as well." The analysis examined the home searches of residents from 10 "Snowbird" markets to nearly 200 resort-linked ski towns. It found residents of eight of these markets -- Boston; Chicago; Columbus, Ohio; Indianapolis; New York; Philadelphia; Providence, R.I. and Minneapolis -- were showing record interest in ski towns. The exceptions were Baltimore and Detroit, where searches for ski towns were still up year-over-year, but lower than the rest of the U.S. market overall. Views to ski towns from residents of Snowbird metros were up 44.5% in the fourth quarter year-over-year, higher than the 35.7% increase recorded nationwide. Overall, the top 10 ski towns that showed the greatest increase in home shopper interest from Snowbirds averaged a 127% increase in searches in the fourth quarter of 2020 compared to last year. Seven of the 10 top ski towns seeing the largest percentage increase in searches were located in Northeast and Midwest. Ranked in order of percentage increase, the top 10 ski towns in the fourth quarter of 2020 were: 1. Union Dale, Pa. Increase in searches (y/y): 225% Median list price: $185,000 Home to Elk Mountain Ski Resort, which offers 180 skiable acres and 27 trails, Union Dale is an alternative to the more touristy Poconos. It is less than a three-hour drive from both Philadelphia and New York City and just over 30 minutes from Scranton, Pa., the setting for the popular television sitcom, The Office. Scranton is one of the largest cities in Pennsylvania, giving Union Dale residents nearby access to water activities on Lake Scranton, minor league baseball and a vibrant art and restaurant scene. 2. Choteau, Mont. Increase in searches (y/y): 143% Median list price: $174,500 On the path between the Glacier and Yellowstone National Parks at the foot of the Rocky Mountain Front, Choteau provides a small town feel and a wide range of recreational activities from exploring ancient paleontology sites to golfing, hiking, boating, fishing and hunting. Ear Mountain, Freezout Lake and the Teton River are just a few of the area's scenic attractions. Teton Pass Ski Resort, about 20 miles north of Choteau, offers skiing and snowboarding. Great backcountry skiing and snowboarding are also nearby. 3. North Creek, N.Y. Increase in searches (y/y): 132% Median list price: $272,000 Home to the Gore Mt. Ski Center, North Creek is a mecca for outdoor activities, including downhill and backcountry skiing and snowshoeing in the winter and whitewater rafting, hiking, biking, fishing and camping in warmer months. North Creek is located near Lake George and is a four-drive from New York City. Owned by the State of New York and operated by Olympic Regional Development Authority, the Gore Mountain ski area has been expanded in recent years, which has resulted in an influx of private investment in new businesses as well as several new housing developments. 4. Eden, Utah Increase in searches (y/y): 122% Median list price: $1,190,000 Situated along the Ogden River at an elevation of 4,941 feet, downtown Eden is just 30 minutes from Salt Lake City and three world-class ski resorts -- Snowbasin, Powder Mountain and Nordic Valley. Its small town charm includes historic 25th Street, which is lined with shops and restaurants. At the end of 25th Street is Union Station, which houses a vintage car museum, art gallery and a collection of historical trains. In addition to skiing and snowboarding in the winter, Eden offers year-round outdoor activities, including golfing, hiking and biking trails. 5. Windham, N.Y. Increase in searches (y/y): 118% Median list price: $692,000 Windham is located in the Catskill Mountains, just 2.5 hours north of New York City, making it a perfect weekend getaway. It's known for Windham Mountain Resort, with ski trails, terrain parks and a mountain bike park. Area trails include the multi-use Windham Path, passing streams and a covered bridge, and the Escarpment Trail to the summit of Windham High Peak. The Five State Lookout offers far-reaching views of the Hudson River Valley and surrounding mountain ranges. 6. Boone, Iowa Increase in searches (y/y): 113% Median list price: $165,000 Named for the youngest son of Daniel Boone, this Central Iowa town is located about 40 miles north of Des Moines. The town grew rapidly following the arrival of the railroad in 1866, which easily connected it to Chicago to the east, Omaha to the west, St. Louis to the south and Minneapolis to the north. Today, Boone's close proximity to the Des Moines River and abundant parks makes it a good destination for outdoor activities year-round. In addition to hiking at Ledges State Park and skiing, snowboarding and tubing at Seven Oaks, the Boone & Scenic Valley Railroad's dinner train is a great way to enjoy a meal while viewing the changing of the leaves. 7. Otis, Mass. Increase in searches (y/y): 113% Median list price: $402,000 Otis is located in the Berkshires in western Massachusetts. Known for outdoor activities like hiking and water sports, as well as cultural experiences, the Berkshires is a two-hour drive from Boston and only three hours from New York City. This picturesque town is nestled along several lakes and ponds along the slopes of the Berkshire Range. Otis is home to Otis Range, a family-friendly ski resort, several campgrounds and forest preserves, and is a great starting point for hiking with the Taconic, Appalachian and Berkshire ranges all in the vicinity. 8. Lakeside, Mont. Increase in searches (y/y): 105% Median list price: $972,500 The cozy town of Lakeside lines the northwest shores of Flathead Lake at the base of Blacktail Mountain. It is just south of Kalispell and about two hours north of Missoula and is known for entertaining tourists who come to visit the Flathead area and Glacier National Park. Lakeside offers four seasons and something for everyone, including skiing the slopes of Blacktail Mountain and sailing and boating on Flathead Lake as well as biking, camping and horseback riding and a lively cultural and restaurant scene. 9. Paoli, Ind. Increase in searches (y/y): 103% Median list price: $135,000 Home to Paoli Peaks Mountain Resort, the town of Paoli is about 100 miles south of Indianapolis. Paoli was first settled in the early 1800s and holds the distinction of playing a role in the Underground Railroad. Today, Paoli is a close knit community that offers residents a suburban rural mix. In addition to skiing, snowboarding and tubing, Paoli is close to French Lick, which is known for its historic mineral springs. 10. Boyne Falls, Mich. Increase in searches (y/y): 100% Median list price: $321,700 Named for the falls on the nearby Boyne River, this small northern Michigan community is nestled along Lake Charlevoix, which has been named by USA Today as one of the Best Lakes in America. Surrounded by a rolling countryside, Boyne Falls is home to several ski resorts and recreation areas that offer four seasons of outdoor recreation from downhill and cross country skiing, snow biking, snowshoeing and ice skating at Boyne Mountain to golf, ziplining and biking. Nearby Deer Lake offers canoeing, swimming and boating. Methodology: Realtor.com® analyzed search activity to 180 towns with populations of at least 1,000 people and at least one ski resort. Towns are defined by ZIP code and will not match municipal boundaries. The analysis also was narrowed to explore searches from residents of 10 Snowbird metros, which are defined as Northeast and Midwest markets with the highest search traffic to warmer-climate vacation or second home markets. About realtor.com® Realtor.com® makes buying, selling, renting and living in homes easier and more rewarding for everyone. Realtor.com® pioneered the world of digital real estate more than 20 years ago, and today through its website and mobile apps is a trusted source for the information, tools and professional expertise that help people move confidently through every step of their home journey. Using proprietary data science and machine learning technology, realtor.com® pairs buyers and sellers with local agents in their market, helping take the guesswork out of buying and selling a home. For professionals, realtor.com® is a trusted provider of consumer connections and branding solutions that help them succeed in today's on-demand world. Realtor.com® is operated by News Corp [Nasdaq: NWS, NWSA] [ASX: NWS, NWSLV] subsidiary Move, Inc. under a perpetual license from the National Association of REALTORS®. For more information, visit realtor.com.
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NAR Announces May Legislative Meetings Will Be Held Virtually in 2021
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63% of 2020 Homebuyers Made an Offer Sight Unseen, Shattering Previous Record
About 1 in 10 home tour requests to Redfin agents are for a remote video tour SEATTLE, Jan. 14, 2021 -- Nearly two thirds (63%) of people who bought a home last year made an offer on a property that they hadn't seen in person, the highest share since at least 2015. That's up from 32% a year earlier, and 45% in July, which was previously the high point, according to a new report from Redfin, the technology-powered real estate brokerage. Redfin's report is based on a survey it commissioned in November and December of more than 1,900 homebuyers across 32 major markets. "The virtual home tour is here to stay," said Redfin chief economist Daryl Fairweather. "Homebuyers who are searching for a home out of town and don't have the time or ability to view the home in person will use virtual tours as their primary means of viewing a home. The increased use of this technology, coupled with more people relocating, mean the sight-unseen trend will continue, and the majority of homebuyers will make offers sight unseen during their search for a home in 2021." Video tours with a Redfin agent have surged this year, from less than 1% of Redfin tour requests at the beginning of 2020 to about 1 in 10 today. Similarly, monthly views of 3D walkthroughs on Redfin.com have increased 563% since February. "Live-video home tours have gone from futuristic fantasy to an everyday part of the homebuying process," said Connecticut-based Redfin agent, Mary Ellen Wisneski. "Over video I'm able to show my buyers closeups of anything in the home and describe peculiar details they can't experience in 3D walkthroughs or photographs—it's like they are actually there with me." Much of this virtual homebuying activity is being fueled by a surge in migration as remote work becomes much more common. In 2020, 27.8% of Redfin.com users were looking to relocate, an all-time high and up 2.3 percentage points from 25.5% in 2019. To read the full report, please click here. About Redfin Redfin is a technology-powered residential real estate company, redefining real estate in the consumer's favor in a commission-driven industry. We do this by integrating every step of the home buying and selling process and pairing our own agents with our own technology, creating a service that is faster, better and costs less. We offer brokerage, iBuying, mortgage, and title services, and we are the #1 nationwide brokerage website, offering a host of online tools to consumers, including the Redfin Estimate. We represent people buying and selling homes in over 90 markets in the United States and Canada. Since our launch in 2006, we have saved our customers over $800 million and we've helped them buy or sell more than 235,000 homes worth more than $115 billion.
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Second Century Ventures Joins the Oxford Future of Real Estate Initiative
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Chime Successfully Executes Strategic Partner Program to Bolster Real Estate Sales Acceleration Platform
Growing technology ecosystem extends value of CRM to support agents, teams and brokerages amid rapid industry change PHOENIX, Jan. 06, 2021 -- Chime Technologies, an award-winning operating system for the real estate industry, today announced the success of a dedicated technology partner program rolled out in 2020 and spearheaded by Randy Carroll, Strategic Partner and Channel Manager. Randy and the team at Chime thoughtfully identified seven innovative technology partners with complementary tools and services to offer a complete platform purpose built to support this industry. With an unwavering commitment to arming real estate professionals with the tools needed to most effectively do their job, the dedicated partner program is an extension of Chime's proven approach to truly integrating systems for the betterment of the real estate community. To learn more about Chime's partner program, please click HERE. With deep roots in real estate, the forward-thinking team at Chime keenly understands the challenges facing real estate professionals today. Through a thoughtful partner strategy, the team at Chime identified market leaders including Aidentified, Brokermint, Curaytor, Dippidi, PieSynch, Verse.io and Ylopo to bolster the platform and empower agents to focus on what they do best – market and sell properties. Unlike individual point solutions that lack the sophistication to deliver the efficiencies and automation needed to compete in today's market, Chime uniquely offers an all in one platform to address critical pain points, effectively scale the business and support agents despite the rapid pace of change. Chime's partner program goes beyond the status quo of surface level integrations and siloed point solutions cobbled together for show. Instead, the product team maximizes the full potential of each best of breed partner to deliver a powerful technology stack critical for success this year and beyond. With a continued focus on helping agents close more deals without having to work harder, Chime looks forward to expanding its partner ecosystem this year. "Automation across the buying and selling process has become lynchpin to safely and effectively doing business today. Through our valued partnerships, Chime is well positioned to support agents from lead generation to transaction management in one, integrated platform," said Randy Carroll, Strategic Partner and Channel Manager, Chime. "We will continue to seek out like minded organizations, built on innovative technology and dedicated to serving the real estate industry, to arm agents with the tools needed for long term success." About Chime Technologies Chime is an all-in-one Sales Acceleration Platform for the real estate industry headquartered in Phoenix, Arizona. Its award-winning productivity suite offers a robust set of features that help real estate professionals and teams of all sizes run and grow their business. Chime Technologies operates as a US subsidiary of Renren, Inc. (RENN). For more information, contact [email protected] or 888-682-4463, or visit www.chime.me.
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Realtor.com December Housing Report: Number of Homes for Sale Hits an All-Time Low
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Homeownership Slips Into Unaffordable Territory Across Majority of U.S. in Fourth Quarter of 2020
Average Wage Below Level Needed To Afford Typical Home in the U.S.; Affordability Worsened in Fourth Quarter in 55 Percent of Housing Markets; Median Home Prices Up At Least 10 Percent in Most of Nation IRVINE, Calif. - Dec. 31, 2020 -- ATTOM Data Solutions, curator of the nation's premier property database and first property data provider of Data-as-a-Service (DaaS), today released its fourth-quarter 2020 U.S. Home Affordability Report, showing that median home prices of single-family homes and condos in the fourth quarter of 2020 were less affordable than historical averages in 55 percent of counties with enough data to analyze, up from 43 percent a year ago and 33 percent three years ago. Yet rising wages and falling mortgage rates still helped keep median home prices close to affordable for average wage earners across the country. The report determined affordability for average wage earners by calculating the amount of income needed to make monthly house payments — including mortgage, property taxes and insurance — on a median-priced home, assuming a $100,000 loan and a 28 percent maximum "front-end" debt-to-income ratio. That required income was then compared to annualized average weekly wage data from the Bureau of Labor Statistics (see full methodology below, which has changed from earlier reports to account for higher down payments and two-worker households). Compared to historical levels, 275 of the 499 counties analyzed in the fourth quarter of 2020, or 55 percent, were less affordable than past averages, up from 217 of the same group of counties in the fourth quarter of 2019 and 164 in the fourth quarter of 2017. The fallback came as continued spikes in median home prices of at least 10 percent over the past year in most of the country outpaced the impact of increasing wages and declining mortgage rates to historic lows. Those price increases occurred as the U.S. housing market kept booming despite economic troubles related to the ongoing Coronavirus pandemic. With prices rising faster than earnings, major home-ownership expenses consumed 29.6 percent of the average wage across the nation during the fourth quarter of 2020. That figure was up from 26.4 percent in the fourth quarter of 2019 and was above the 28 percent benchmark lenders prefer for how much homeowners should spend on those major expenses – mortgage payments, insurance and property taxes. Those costs exceeded the benchmark in 59 percent of the counties included in the fourth-quarter 2020 report. "Owning a home in the United States slipped into the unaffordable zone for average workers across the nation in the fourth quarter as the numbers continued a year-long slide in the wrong direction. The latest housing market data shows the average worker unable to meet the 28 percent affordability guideline used by lenders," said Todd Teta, chief product officer with ATTOM Data Solutions. "That's happened as home prices have continued rising throughout 2020 and the housing market has remained remarkably resilient in the face of the brutal economic fallout from the Coronavirus pandemic. The future remains wholly uncertain and affordability could swing back into positive territory. But for now, things are going in the wrong direction for buyers." Among the 499 counties in the report, 203 (41 percent) had major home-ownership expenses on typical homes in the fourth quarter that were affordable for average local wage earners. The largest of those counties, based on the 28-percent guideline, were Cook County (Chicago), IL; Harris County (Houston), TX; Philadelphia County, PA; Hillsborough County (Tampa), FL and Cuyahoga County (Cleveland), OH. The most populous of the 296 counties with unaffordable major expenses on median-priced homes for average earners in the fourth quarter of 2020 (53 percent of the counties analyzed) were Los Angeles County, CA; Maricopa County (Phoenix), AZ; San Diego County, CA; Orange County, (outside Los Angeles), CA, and Miami-Dade County, FL. Home prices up at least 10 percent in more than three quarters of country Median home prices in the fourth quarter of 2020 were up by at least 10 percent from the fourth quarter of 2019 in 395, or 79 percent, of the 499 counties included in the report. Counties were included if they had a population of at least 100,000 and at least 50 single-family home and condo sales in the fourth quarter of 2020. Among the 41 counties with a population of at least 1 million, the biggest year-over-year gains in median prices during the fourth quarter of 2020 were in Cook County (Chicago), IL (up 32 percent); Philadelphia County, PA (up 22 percent); Fulton County (Atlanta), GA (up 22 percent); Travis County (Austin), TX (up 20 percent) and Contra Costa County, CA (outside San Francisco) (up 19 percent). Counties with a population of at least 1 million that had the smallest increases (or price declines) in the fourth quarter were Middlesex County, MA (outside Boston) (down 9 percent); New York County (Manhattan), NY (down 3 percent); Fairfax County, VA (outside Washington, DC) (up 3 percent); Queens County, NY (up 8 percent) and Montgomery County, MD (outside Washington, DC) (up 8 percent). Price appreciation up more than wage growth in over 90 percent of markets Home price appreciation outpaced average weekly wage growth in the fourth quarter of 2020 in 460 of the 499 counties analyzed in the report (92 percent), with the largest counties including Los Angeles County, CA; Cook County (Chicago), IL; Harris County (Houston), TX; Maricopa County (Phoenix), AZ, and San Diego County, CA. Average annualized wage growth outpaced home price appreciation in the fourth quarter of 2020 in only 39 of the 499 counties in the report (8 percent), including New York County (Manhattan), NY; Middlesex County, MA (outside Boston); Fairfax County, VA (outside Washington, DC); Honolulu County, HI, and Hidalgo County (McAllen), TX. Average wages needed to afford median-priced home exceed $75,000 in a quarter of markets Annual wages of more than $75,000 were needed in the fourth quarter of 2020 to afford the typical home in 124, or 25 percent, of the 499 markets in the report. The highest annual wages required to afford the typical home were in San Mateo County (outside San Francisco), CA ($282,117); New York County (Manhattan), NY ($297,010); San Francisco County, CA ($277,757); Marin County (outside San Francisco), CA ($270,893) and Santa Clara County (San Jose), CA ($250,700). The lowest annual wages required to afford a median-priced home in the fourth quarter of 2020 were in Bibb County (Macon), GA ($19,188); St. Lawrence County, NY (north of Syracuse) ($23,742); Trumbull County, OH (outside Youngstown) ($24,023); Calhoun County, AL (east of Birmingham) ($24,151) and Allen County (Lima), OH ($24,285). Majority of housing markets less affordable than historic averages Among the 499 counties analyzed in the report, 275 (55 percent) were less affordable in the fourth quarter of 2020 than their historic affordability averages, up from 43 percent of the same group of counties in the fourth quarter of 2019. Counties with at least 1 million people that were less affordable than their historic averages (indexes below 100 are considered less affordable compared to their historic averages) included Dallas County, TX (index of 83); Travis County (Austin), TX (84); Tarrant County (Fort Worth), TX (85); Oakland County, MI (outside Detroit) (85) and Philadelphia County, PA (86). Among counties with at least 1 million people, those where the affordability indexes declined the most from the fourth quarter of 2019 to the fourth quarter of 2020 were Cook County (Chicago), IL (index down 16 percent); Philadelphia County, PA (down 9 percent); Fulton County (Atlanta), GA (down 8 percent); Travis County (Austin), TX (down 7 percent) and Cuyahoga County (Cleveland), OH (down 7 percent). Number of markets more affordable than historic averages declines Among the 499 counties in the report, 224 (45 percent) were more affordable than their historic affordability averages in the fourth quarter of 2020, down from 57 percent in the fourth quarter of last year. Counties with a population greater than 1 million that were more affordable than their historic averages (indexes of more than 100 are considered more affordable compared to their historic averages) include Middlesex County, MA (outside Boston) (index of 138); New York County (Manhattan), NY (130); Montgomery County, MD (outside Washington, D.C.) (121); Fairfax County, VA (outside Washington, D.C.) (117) and King County (Seattle), WA (107). Counties with the best affordability indexes in the fourth quarter of 2020 were Richmond County (Staten Island), NY (index of 143); Bristol County, MA (outside Providence, RI) (142); Onslow County (Jacksonville), NC (141) and Middlesex County, MA (outside Boston) (138). The largest improvements in affordability indexes from the fourth quarter of 2019 to the fourth quarter of 2020 were in Richmond County (Staten Island), NY (up 35 percent); Terrebonne Parish (Houma), LA (up 29 percent); Middlesex County, MA (outside Boston) (up 23 percent); Essex County, MA (outside Boston) (up 18 percent) and New York County (Manhattan), NY (up 17 percent). Report Methodology The ATTOM Data Solutions U.S. Home Affordability Index analyzes median home prices derived from publicly recorded sales deed data collected by ATTOM Data Solutions and average wage data from the U.S. Bureau of Labor Statistics in 499 U.S. counties with a combined population of 232.4 million. The affordability index is based on the percentage of average wages needed to pay for major expenses on a median-priced home with a 30-year fixed rate mortgage and a $100,000 loan. Those expenses include property taxes, home insurance, mortgage payments and mortgage insurance. Average 30-year fixed interest rates from the Freddie Mac Primary Mortgage Market Survey were used to calculate the monthly house payments. The report determined affordability for average wage earners by calculating the amount of income needed for major home ownership expenses on a median-priced home, assuming a $100,000 loan and a 28 percent maximum "front-end" debt-to-income ratio. For instance, the nationwide median home price of $297,200 in the fourth quarter of 2020 required an annual gross income of $64,447, based on a $100,000 loan and monthly expenses not exceeding the 28 percent barrier — meaning households would not be spending more than 28 percent of their income on mortgage payments, property taxes and insurance. That required income is more than the $64,447 average wage nationwide based on the most recent average weekly wage data available from the Bureau of Labor Statistics, making a median-priced home nationwide unaffordable for an average household with two wage earners. About ATTOM Data Solutions ATTOM Data Solutions provides premium property data to power products that improve transparency, innovation, efficiency and disruption in a data-driven economy. ATTOM multi-sources property tax, deed, mortgage, foreclosure, environmental risk, natural hazard, and neighborhood data for more than 155 million U.S. residential and commercial properties covering 99 percent of the nation's population. A rigorous data management process involving more than 20 steps validates, standardizes and enhances the data collected by ATTOM, assigning each property record with a persistent, unique ID — the ATTOM ID. The 20TB ATTOM Data Warehouse fuels innovation in many industries including mortgage, real estate, insurance, marketing, government and more through flexible data delivery solutions that include bulk file licenses, property data APIs, real estate market trends, marketing lists, match & append and introducing the first property data delivery solution, a cloud-based data platform that streamlines data management – Data-as-a-Service (DaaS).
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More than a Third of Young Americans are More Interested in Smart Home Technology Due to the Pandemic
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RE Technology's Top 10 Articles of 2020
Over the past 10 days, we've been counting down our top 10 articles of the year. These articles are an exclusive breed--at RE Technology, we publish over 1,000 articles each year. So which types of articles were among the 0.01 percent that made it into our top 10? This year's list, unsurprisingly, was dominated by COVID-19 related articles. In fact, our number one article—by a longshot—was a post announcing that real estate was now considered an essential service. The flood of traffic we got from that article underlines the sense of relief that real estate professionals felt when they were able to keep working. 2020 wasn't all coronavirus doom and gloom, however. Our second most-read article was a lighthearted look at real estate memes. Gratitude also featured largely, with articles on thank you notes (#4) and closing gifts (#8) rounding out our top 10. What else made it into this year's hall of fame? Check out the full list of our most-read articles below: [Best of 2020] Real Estate Is Now Considered an Essential Service According to U.S. Government [Best of 2020] 16 of the Best Real Estate Memes of All Time [Best of 2020] Friday Freebie: Download a COVID-19 Postcard and Reach Out to Your Sphere [Best of 2020] 10 Thank You Notes That Will Generate Business [Best of 2020] Are You Unknowingly Encouraging Sellers to List as FSBOs? [Best of 2020] How to Prevent Coronavirus by Cleaning Your Smartphone and Computer TODAY! [Best of 2020] 5 Social Media Habits Agents Should Leave Behind in 2020 [Best of 2020] 8 Real Estate Closing Gifts That Return Your Investment [Best of 2020] 5 Real Estate Apps that Will 'Wow' You and Your Clients [Best of 2020] 6 Apps to Help You Take Better Listing Photos
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CoStar Group Announces Acquisition of Houses.com URL
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BoomTown Announces Winners of Inaugural Give Back Awards
Company gives over $5k in their Give Back Awards as they award $3k to real estate professionals showing exemplary service to communities in 2020 and donates $5 per nomination to generate $2,585 for Homes for Heroes Foundation CHARLESTON, S.C., December 22, 2020 -- BoomTown, the leading sales and marketing platform for real estate professionals, is excited to announce the winners of their inaugural BoomTown Give Back Awards, highlighting members of the real estate community who have gone above and beyond to serve others in 2020. The winners each received a $1,000 prize, and BoomTown's pledge to donate five dollars per nomination to the Homes for Heroes Foundation, generated an additional $2,585 donation. "One of our top values at BoomTown is to 'create amazing experiences,' so we are particularly excited to celebrate those in our industry who are doing just that, and end 2020 with some truly good news," said Grier Allen, CEO & President of BoomTown. "With over 300 nominations submitted, it was wonderful to see so many examples of people doing good, bettering their communities, and using their position as a real estate leader to pay it forward." 2020 BoomTown Give Back Award Recipients: The Helping Hand Award: Debbie and Tony Ferrante, RE/MAX Edge Realty The Walk the Talk Award, Mario Mitchell, The Mitchell Team The Creative Changemaker Award: Gabriel Deukmaji, City Smart Living The Caring Companion Award: Monty, a service dog for veterans and first responders with disabilities. The Helping Hand award celebrates jumping in to aid friends, family, employees, another business or the community, The Walk the Talk award showcases those making charitable giving an integral part of their business, The Creative Changemaker highlights using creativity to put an innovative spin on giving back, and an additional fourth category, The Caring Companion, was created in light of a heartwarming submission for a service animal who exemplified the spirit of these awards to the fullest, and was awarded a $500 donation to Hero Dogs. Award recipients were selected by a panel of judges from BoomTownLOVE, the company's service and outreach organization, and nominations for 2021 will resume in November. To learn more about the winners, visit go.boomtownroi.com/boomtown-give-back-awards About BoomTown BoomTown exists to make real estate agents successful. 40k+ of the industry's top professionals trust BoomTown to grow their real estate business with easy-to-use technology that creates opportunities and turns them into closings. Capabilities include a customizable real estate website integrated with local MLS data, client success management, a cutting-edge CRM (Customer Relationship Management) system with custom marketing automation, personalized advertising and lead generation services, and a mobile app for agents on the go. BoomTown's service offerings extend far beyond technology with coaching services from peers who have catapulted their growth with the system, lead qualification services to contact, qualify, and nurture leads, and dedicated advisors to offer personalized support at every step from onboarding and training to optimizing your business and planning for strategic growth. Founded in 2006 and headquartered in Charleston, SC, BoomTown has additional offices in Atlanta, GA, and San Francisco, CA. For more about BoomTown visit boomtownroi.com.
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The Green Building Registry Partners with RESNET to Provide HERS Data
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Realtor.com Acquires Avail
Online property management platform streamlines rental process for DIY landlords and tenants; acquisition advances realtor.com®'s rentals strategy SANTA CLARA, Calif., Dec. 15, 2020 -- Move, Inc., the operator of realtor.com®, a leading online destination for real estate services, announced today it has acquired Chicago-based Avail, a platform that improves the renting experience for do-it-yourself landlords and tenants with online tools, educational content, and world-class support. Move, Inc. is a subsidiary of News Corp. Residential rentals comprise a large market in the U.S.; according to an analysis of American Community Survey data from the U.S. Census Bureau, people spend more than $500 billion per year on rent in this country, and DIY landlords (landlords with 1-20 units, often in addition to a full-time job) own and manage about three quarters of all the rentals in the U.S. The acquisition helps realtor.com® further expand into the rental space, extend its support for landlords, augment current rental listing content, grow its audience and build brand affinity and long-term relationships with renters. The Avail online and mobile platform brings together the workflow tools that help independent landlords manage rental properties more easily and efficiently, almost all of which are free; more than 90 percent of landlords use the Avail free product, while some landlords upgrade for premium functionality and customizations. Landlords use the Avail platform to create and market rental listings, screen applicants, access state- and city-specific lease agreements, process payments and track maintenance requests. The platform also offers tools for renters, including easy ways to complete rental applications, sign leases, pay rent, submit maintenance requests and access related products and services like renters insurance. "This acquisition is a key part of our strategy to make finding a home easier and more rewarding," said David Doctorow, CEO of realtor.com®. "We believe that Avail is uniquely positioned to meet the needs of the DIY landlords and tenants in a large, growing and underserved market. By combining Avail's rentals listing content and easy-to-use tools with realtor.com®'s large audience, consumer experience platform and insights, we believe we can deliver more value to DIY landlords and tenants. I'm excited about what the tremendous team at Avail will add to the talented staff here at realtor.com®." Avail is experiencing incredible growth in the market despite the Coronavirus pandemic, as more landlords move their rental businesses online and consumers look for contactless rental opportunities, especially with online rent payments. "We are excited about joining the team at realtor.com®, and see this acquisition as a tremendous opportunity for our customers," said Avail CEO Ryan Coon. "Leveraging realtor.com®'s industry expertise and scale will allow us to expand our platform capabilities and offerings so we can continue to deliver high-quality services, tools and education to even more landlords and tenants." Coon, Avail co-founder Laurence Jankelow and the company's 30+ person team will join Move, Inc. Terms of the acquisition were not made public. About realtor.com® Realtor.com® makes buying, selling, renting and living in homes easier and more rewarding for everyone. Realtor.com® pioneered the world of digital real estate more than 20 years ago, and today through its website and mobile apps is a trusted source for the information, tools and professional expertise that help people move confidently through every step of their home journey. Using proprietary data science and machine learning technology, realtor.com® pairs buyers and sellers with local agents in their market, helping take the guesswork out of buying and selling a home. For professionals, realtor.com® is a trusted provider of consumer connections and branding solutions that help them succeed in today's on-demand world. Realtor.com® is operated by News Corp [Nasdaq: NWS, NWSA] [ASX: NWS, NWSLV] subsidiary Move, Inc. under a perpetual license from the National Association of REALTORS®. For more information, visit realtor.com. About Move, Inc. Move, Inc., a subsidiary of News Corp [Nasdaq: NWS, NWSA] [ASX: NWS, NWSLV], operates a family of websites and mobile experiences for consumers and professionals, including realtor.com®. Move also offers software products and services to help real estate professionals serve their clients and grow their business, including ListHub™, the nation's leading listings syndicator and centralized intelligence platform for the real estate industry; and Top Producer® Systems. About Avail Founded in 2012, Avail is the first and only online platform for independent landlords and tenants that provides the tools, education, and support to make renting easy. Landlords across the U.S. use Avail to advertise vacant units, request rental applications and credit reports, sign leases, and collect rent — all online. Learn more at www.avail.co.
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2021 Marketing Strategy Guide (FREE DOWNLOAD)
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BoomTown Announces Direct Integration with Sisu Accountability Solution
Leveraging data from the BoomTown CRM, Sisu's software gamifies and visualizes data to empower agent performance, and deep integration keeps teams, tools and data in one platform. CHARLESTON, S.C., December 8, 2020 -- BoomTown, the leading sales and marketing platform for real estate professionals, is excited to announce a direct integration with Sisu, a performance management and business intelligence platform that helps real estate professionals take advantage of their data. The integration will allow users to leverage the powerful data in their BoomTown CRM to create real-time performance leaderboards and motivational tools to drive productivity without requiring any data export or third-party integration. "Top-producing agents, teams, and brokers ensure everything is measured, analyzed, and optimized in their businesses, and we noticed many of our clients were finding success leveraging their BoomTown CRM and Sisu's software," said Grier Allen, CEO & President of BoomTown. "We wanted to make that simpler and more seamless, for them, and help them leverage even deeper insights and tools without the need for duplicate entry, so I couldn't be more excited about this direct integration that delivers all of that and more." The integration, provided at no cost to BoomTown clients, allows users to bi-directionaly sync their leads, agent activities, and transaction data between BoomTown's CRM platform and Sisu's software. The data is then displayed in leaderboards for television display, real-time dashboards, and sales contests, visualizing these metrics to help agents pace with their team and brokerage goals in an engaging and effective manner that is proven to drive productivity. Complex transactions and heavy workloads are simplified with drag-and-drop task boards, as well as customer-created forms, fields, notifications and task templates. Back office reporting is simplified with intuitive auto-generated reports and commission management tools, to provide complete pipeline management and reporting from lead generation to closed transaction. "The industry has been asking for a lead-to-close platform since I entered the industry six years ago, and together with BoomTown, we are exactly that," said Brian Charlesworth, Founder and CEO of Sisu. "Our Growth Automation Software makes managing sales teams and administrative teams seamless, and turns team owners and broker owners into great leaders." Users can make data-driven decisions across their entire real estate transaction cycle timeline. The direct integration also provides automatic: Creation of a transaction in Sisu when leads hit specific categories (like "hot" or "pending") Inclusion of BoomTown communication activity into Sisu's solution Bi-directionaly synced appointment data (Set, Met) between Sisu and BoomTown Closed Transaction data bi-directionaly synced between Sisu and BoomTown Further optimization of the integration will include historical pull capabilities and in-depth lead source ROI reporting. About BoomTown BoomTown exists to make real estate agents successful. 40k+ of the industry's top professionals, and 40% of the Real Trends Top 250 teams, trust BoomTown to grow their real estate business with easy-to-use technology that creates opportunities and turns them into closings. Capabilities include a customizable real estate website integrated with local MLS data, client success management, a cutting-edge CRM (Customer Relationship Management) system with custom marketing automation, personalized advertising and lead generation services, and a mobile app for agents on the go. BoomTown's service offerings extend far beyond technology with coaching services from peers who have catapulted their growth with the system, lead qualification services to contact, qualify, and nurture leads, and dedicated advisors to offer personalized support at every step from onboarding and training to optimizing your business and planning for strategic growth. Founded in 2006 and headquartered in Charleston, SC, BoomTown has additional offices in Atlanta, GA and San Francisco, CA. For more about BoomTown visit boomtownroi.com. About Sisu Sisu is the complete sales and recruiting Growth Automation Software platform for real estate and mortgage. It was developed as a tool to simplify the tracking of sales metrics, provide critical analysis of those numbers, and gamify the entire real estate and mortgage sales experience. We have evolved to provide a central hub of real estate and mortgage sales transactions; consolidating disparate systems into one common view, while also managing commissions and tasks. While we love motivating and managing by data, our passion lies in motivating sales and admin teams by encouraging healthy competition and accountability. We want all of our users to reach their goals by understanding exactly what is needed in order to do so. Every sales environment could use more grit, determination, perseverance, and courage. In addition, with over 27K vendors on Sisu's platform, we are focused on being the centralized ecosystem for real estate and its ancillary industries to communicate and collaborate. For more information visit sisu.co.
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Realtor.com Top Housing Markets: Tech Hubs and State Capitals Will Dominate 2021
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Pending Sales Return to Typical Seasonal Trend, Still Up 28% From 2019
Home prices rose 16% from a year earlier, and new listings were up 9% SEATTLE, Dec. 4, 2020 -- The median home sale price increased 16% year over year to $322,828, the highest on record, according to a new report from Redfin, the technology-powered real estate brokerage. Below are other key housing market takeaways for 400+ U.S. metro areas during the 4-week period ending November 29. Pending home sales were up 28% year over year even as the number of pending sales steeply declined during the week of Thanksgiving, following the typical seasonal trend. In the single week ending November 15, pending sales were up 25% from the same week a year earlier. New listings of homes for sale were up 9% from a year earlier. The number of new listings was the lowest it has been since the first week of May. Active listings (the number of homes listed for sale at any point during the period) fell 29% from 2019 to a new all-time low. 42% of homes that went under contract had an accepted offer within the first two weeks on the market. The average sale-to-list price ratio, which measures how close homes are selling to their asking prices, rose to 99.5%—an all-time high and 1.5 percentage points higher than a year earlier. For the week ending November 29, the seasonally adjusted Redfin Homebuyer Demand Index was up 28% from pre-pandemic levels in January and February. Mortgage purchase applications increased 9% week over week (seasonally-adjusted) and were up 28% from a year earlier (unadjusted) during the week ending November 27. For the week ending December 3, 30-year mortgage rates dropped to 2.71%, another new all-time low. Rates have been below 3% since late July. "Sellers took the week off for Thanksgiving, but buyers were still out there searching for homes despite the lack of new listings," said Redfin chief economist Daryl Fairweather. "Sellers continue to be in the driver's seat when it comes to pricing. And with mortgage rates hitting new record lows nearly every week recently, buyers are tolerant of higher prices. The lack of new listings will put a lid on home sales through the end of year. The few desirable homes put on the market will receive competitive bids, while sellers who don't get any bites from buyers will give up and take their homes off the market." To view the full report, including charts and methodology, please click here. About Redfin Redfin is a technology-powered residential real estate company, redefining real estate in the consumer's favor in a commission-driven industry. We do this by integrating every step of the home buying and selling process and pairing our own agents with our own technology, creating a service that is faster, better and costs less. We offer brokerage, iBuying, mortgage, and title services, and we also run the country's #1 real estate brokerage search site, offering a host of online tools to consumers, including the Redfin Estimate. We represent people buying and selling homes in over 90 markets in the United States and Canada. Since our launch in 2006, we have saved our customers over $800 million and we've helped them buy or sell more than 235,000 homes worth more than $115 billion.
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Gaining Momentum: Annual U.S. Home Prices Appreciated 7.3% in October, CoreLogic Reports
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Realtor.com 2021 Housing Forecast: Sellers Will Get Top Dollar as Buyers Struggle with Affordability
2021 is full of wildcards including COVID-19 and the possibility of a double dip recession SANTA CLARA, Calif., Dec. 2, 2020 -- Amid COVID-19 uncertainty, 2021 will be a robust sellers market as home prices hit new highs (+5.7%) and buyer competition remains strong, according to the realtor.com 2021 housing forecast released today. Inventory is expected to make a slow but steady comeback, which will give buyers some relief. However, increasing interest rates and prices will make affordability a challenge throughout the year. "The 2021 housing market will be much more 'normal' than the wild swings we saw in 2020. Buyers may finally have a better selection of homes to choose from later in the year, but will face a renewed challenge of affordability as prices stay high and mortgage rates rise," said realtor.com® Chief Economist, Danielle Hale. "With less cash and no home equity, millennial and Gen Z first-time buyers will be impacted the most by rising home prices and interest rates. While waiting until the fall or winter months of 2021 may mean more home options to choose from, buyers who can find a home to buy earlier in the year will likely see lower prices and mortgage rates." Realtor.com® 2021 Housing Market Forecast Realtor.com® forecasts mortgage rates will continue to hover near 3% then slowly rise to 3.4% by the end of the year. Home sales are expected to increase 7% and new construction will increase 9% over the previous year. However, the strength of the 2021 housing market is highly dependent on the containment of COVID-19 pandemic and staving off a double dip recession. What 2021 will be like for buyers? Buyers will find some relief in 2021 as more homes hit the market, but many will struggle with affordability as home prices continue to rise. Mortgage rates will slowly rise toward 3.4% and will no longer help offset the record breaking prices. Additionally, the time it takes to sell a home will slow from late 2020's frenzy, but fast sales will remain in many parts of the country, which will be particularly difficult for first-time buyers learning the ins and outs of homebuying. What will 2021 be like for sellers? Sellers will continue to hold the upper hand throughout 2021 as the number of buyers in the market outweighs the number of homes for sale. Home prices won't grow as fast as they did in 2020, but steady increases will continue to push home prices to new highs. Additionally, sellers can expect their home to sell relatively quickly in 2021, so having their next home lined up will be key. Many sellers are also buyers themselves, so they will struggle with the same issues when it comes to purchasing their next home. Forecast key 2021 housing trends Millennials continue to drive the market while Gen-Z become market players - The largest generation in history, millennials, will continue to shape the housing market as they outnumber Gen-X and Baby Boomers. Older millennials will likely be trade-up buyers while the larger, younger segment of the generation age into their key home buying years. Meanwhile, Gen-Z will begin to make their presence known in 2021 as they compete with younger millennials for entry-level homes. The oldest members of Gen-Z will turn 24 in 2021 and their impact on the market will only continue to grow from here. Affordability becomes a growing obstacle - Buyers in 2020 received a huge boost in affordability as mortgage rates pushed to new lows throughout the year, however, a lack of inventory and strong demand drove prices up, erasing most of the boost. As mortgage rates are no longer able to counteract rising home prices, affordability will be tested for buyers across the board in 2021. Home price increases are expected to slow as affordability gets stretched throughout the year. Buyers will need to act with a sense of urgency if they want to lock in a low rate before home prices increase even more in 2021. Inventory will begin the slow road toward recovery - A lack of homes for sale has plagued the U.S. housing market for the last five years. The problem only intensified in 2020, in large part due to an estimated shortfall of nearly 4 million newly constructed homes heading into the year, as well as sellers pulling back due to COVID-19. The number of homes for sale is expected to slowly rebound in 2021, but the road to recovery will be long because the market has to make up for multiple years of declines. Additional homes hitting the market will offer buyers some relief in 2021, but it won't be enough to tip the scales in favor of buyers. As inventory slowly begins to replenish and buyer demand for homes remains steady, sellers will continue to be in the driver's seat. Suburbs will shine if remote work stays around - As COVID-19 lockdowns gripped many of the nation's largest cities, buyers flocked to nearby suburbs in search of increased space. Now, more and more workers are finding the freedom to work remotely. This has sparked intense interest in suburban homes, further exaggerating a trend that had been slowly emerging over the last couple of years. The big question is what demand will look like once a coronavirus vaccine is widely available. If companies require workers to return to the office, demand may wane. Conversely, if companies commit long-term to remote work, demand for these homes could see an additional boost in 2021. Wildcards that could shake things up in 2021 COVID-19 - The deck is stacked with wildcards for 2021. The most impactful will be the U.S.'s ability to control and contain the spread of COVID-19 as well as distribute a vaccine. Additional lockdowns and quarantines could put a dent in housing inventory and sales, slowing the market and putting increased pressure on buyers. Conversely, if a vaccine is rolled out quickly, it could lead to better than expected sales and a strong increase for home prices and inventory. Either way, COVID-19 will have a large impact on the U.S. housing market in 2021. Double dip recession - The possibility of a double dip recession is still in play for 2021. As the U.S. continues in a K-shape recovery, a gap is widening between those with and without jobs as well as industries recovering well versus those seeing continued lack of business. In the short term, this could lead to less consumer spending which could more broadly impact businesses and economic growth. In the long term, this could impact the U.S. housing market as "would-be" buyers disappear from the market, cooling demand and driving down home prices. The current question is how long the K-shape can diverge before the impact begins to cascade into the broader economy and other previously less-affected sectors such as housing. 2021 Metro Housing Forecast (Top 100) About realtor.com® Realtor.com® makes buying, selling and living in homes easier and more rewarding for everyone. Realtor.com® pioneered the world of digital real estate 20 years ago, and today through its website and mobile apps is a trusted source for the information, tools and professional expertise that help people move confidently through every step of their home journey. Using proprietary data science and machine learning technology, realtor.com® pairs buyers and sellers with local agents in their market, helping take the guesswork out of buying and selling a home. For professionals, realtor.com® is a trusted provider of consumer connections and branding solutions that help them succeed in today's on-demand world. Realtor.com® is operated by News Corp [Nasdaq: NWS, NWSA] [ASX: NWS, NWSLV] subsidiary Move, Inc. under a perpetual license from the National Association of REALTORS®. For more information, visit realtor.com®.
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Rental Beast November 2020 Market Report: Rental Concessions Gone Wild!
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NAR Launches 'First-Time Buyer' Streaming Video Series on ROKU
Eight-part series will showcase Realtor value, also stream on YouTube and Facebook. CHICAGO (November 20, 2020) -- The National Association of Realtors® this week launched its new digital video series to over 40 million households on Roku, the No. 1 streaming TV platform in the U.S. In contrast with most real estate-themed programs, First-Time Buyer by the National Association of REALTORS® focuses on the relationship between Realtor® and homebuyer to provide viewers with a more genuine portrayal of the home buying process. "First-Time Buyer provides an up-close look at real-life home buyers, telling stories about the critical role Realtors® play in every transaction from beginning to end," said NAR President Charlie Oppler, a Realtor® from Franklin Lakes, N.J., and the CEO of Prominent Properties Sotheby's International Realty. "I'm proud of the creativity and ingenuity our team showed in the creation of this program, and I'm excited about the tremendous benefits it will deliver to our 1.4 million members." First-Time Buyer's eight episodes were filmed across the Atlanta, Nashville and Phoenix metro areas. NAR partnered with Happy Street Entertainment on production, which began in February and, after delays on account of COVID-19, was completed in October with safety precautions in place. "We're showing the Realtor® value in the homebuying experience," said Alicia Bailey, NAR's director of marketing strategy and head of production, who worked alongside Happy Street Entertainment in the program's development process. "It means something to have an individual who is guided by a code of ethics taking you through one of the most complex and important processes of your life, and that's especially critical to any first-time buyer." In addition to streaming on Roku, each 15-minute episode is also available on YouTube, Facebook, and FirstTimeBuyer.realtor, which offers behind-the-scenes content and added resources about the homebuying process. By focusing on many of the hiccups that occur while buying a home, this series underscores how Realtors® support their clients through any hurdle they may – and will – face throughout the process. "It's never as smooth as it appears on other shows," said Susan Welter, NAR's vice president of creative and content strategy. First-Time Buyer is an extension of NAR's consumer advertising campaign, which has worked to highlight Realtors®' commitment to the association's Code of Ethics and the distinction it draws between Realtors® and other real estate agents. Third-party market research conducted earlier in 2020 showed that roughly 80% of viewers were more likely to use a Realtor® as a result of NAR's "That's Who We R" campaign. The National Association of Realtors® is America's largest trade association, representing 1.4 million members involved in all aspects of the residential and commercial real estate industries.
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CoStar Group Agrees to Acquire Homesnap, a Digital Residential Real Estate Solutions Provider Used by 300,000 Agents Responsible for More Than Half of All US Residential Real Estate Sales
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15% of U.S. Consumers Experienced Housing Discrimination: Homes.com Survey
All Ethnicities and Income Levels Report Encountering Bias in Rental or Purchase Efforts NORFOLK, VA - (November 17, 2020) -- More than 15% of U.S. consumers have personally experienced housing discrimination as they attempted to rent or purchase a property, according to a new Homes.com survey of 2,000 adults. The poll comes at a time when a federal rule establishing stricter requirements to bring discrimination claims under the Fair Housing Act is being challenged by civil rights groups. Survey respondents reported encountering bias in one or more scenarios including rental applications (7%), home financing (4%), home searching with an agent (3%), home appraisals (3%) and/or other residential purchase services (3%). Of those who disclosed their racial identities, 56% of Black or African American respondents expressed that they have faced housing bias (56%), followed by biracial or multiracial respondents (45%), those of Latino or Hispanic heritage (45%), American Indians or Alaskan Natives (31%) and non-Hispanic whites (12%). The problem also spanned every income level from less than $100,000 to more than $500,000. The survey also revealed that: Two-thirds of respondents believe housing discrimination exists in their community in varying degrees, with just 33% saying it is "not common at all." The "not common" response was highest in the Northeast with 40% expressing that opinion. 60% do not know how to report Fair Housing law violations or concerns, despite the fact that one-fifth of that group indicated they had experienced housing discrimination. 30% are unfamiliar with any of six key federal housing programs including Federal Housing Administration loans, Section 8 housing vouchers, private mortgage insurance, the Truth in Lending Act, the Making Home Affordable program and the Quality Housing and Work Responsibility Act. More than half of the respondents unfamiliar with any of these programs have annual household incomes of less than $100,000 a year. 37% cited down payment assistance programs as the most useful strategy to help low-income families buy homes, followed by mortgage assistance programs (34%), home repair grants (23%), tax credits for buying homes in certain areas (21%) and housing voucher programs (17%). 31% believe the #1 hurdle to home ownership for low-income families is insufficient affordable housing, with 38% of those respondents residing in the West. Other obstacles cited included down payment costs (30%), lack of access to stable employment (16%), mortgage payment costs (15%) and not enough housing inventory (9%). 62% believe that federal housing policies should actively encourage diverse communities, highlighting the nation's growing social desire to challenge existing remnants of community segregation in favor of inclusivity and equality. "Homes.com is passionate about, and committed to, providing education and resources that champion equal access to housing for all," stated Dave Mele, President of Homes.com. "These survey insights highlight how the real estate industry can help consumers achieve their housing needs, which is why Homes.com is launching a platform to provide those resources." Earlier this year, Homes.com formed a Fair Housing work group, dedicated to understanding the history of fair housing, the current status of fair housing progress, and providing those educational resources to consumers. In the coming weeks, Homes.com will launch a dedicated resource page to provide consumers with the latest news in Fair Housing, guidance on how to submit Fair Housing concerns, information on existing programs to assist renters and buyers, and more. This is one of the first projects to reinforce Homes.com's commitment to equipping consumers in a readily accessed way. About Homes.com Homes.com offers today's demanding homebuyers, renters, and those somewhere in between a simply smarter home search with a more personalized and conversational way to find their next home. Since its launch over 25 years ago, Homes.com offers real estate professionals brand and property advertising, search engine marketing, and instant response lead generation to help them succeed online. For more information, visit Homes.com.
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NAR Announces Innovative Simulation Training to Tackle Discrimination in Real Estate
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BoomTown Announces Give Back Awards, Nominations Open
Company will award $1k to real estate professionals who are serving others and their communities in 2020, and donate $5 for each nomination to the Homes for Heroes Foundation CHARLESTON, S.C., November 18, 2020 -- BoomTown, the leading sales and marketing platform for real estate professionals, is excited to announce the inaugural BoomTown Give Back Awards, and is accepting nominations through December 11th. The awards will highlight members of the real estate community who have gone above and beyond to serve others in 2020. Three winners will receive a $1,000 prize, and BoomTown will donate five dollars to the Homes for Heroes Foundation for each nomination. "We are thrilled about the opportunity to formally show our appreciation and gratitude to real estate professionals who are going above and beyond to make a positive impact in their business and community, especially during a year that's seen so much fear and unrest," said Grier Allen, CEO & President of BoomTown. "In the spirit of giving and thanks, we are equally excited to support the wonderful work of the Homes for Heroes Foundation with every nomination we receive. The BoomTown Give Back awards celebrate the agents who are stewards within their community, put service over self, and make an impact by paying it forward." The BoomTown Give Back Awards include three categories, The Helping Hand Award for those jumping in to aid friends, family, employees, another business or the community, The Walk-The-Talk Award for those making charitable giving a part of their business, and The Creative Changemaker Award for those using their creativity to put an innovative spin on giving back. Nominations close on December 11th at 11:59pm EST, and three winners will be selected by a panel of judges from BoomTownLOVE, the company's service and outreach organization. Nominees and winners will be featured on BoomTown's social media, and receive a $1,000 prize with the option to donate the prize to an organization of each winner's choice. To learn more and submit a nomination, visit go.boomtownroi.com/boomtown-give-back-awards About BoomTown BoomTown exists to make real estate agents successful. 40k+ of the industry's top professionals trust BoomTown to grow their real estate business with easy-to-use technology that creates opportunities and turns them into closings. Capabilities include a customizable real estate website integrated with local MLS data, client success management, a cutting-edge CRM (Customer Relationship Management) system with custom marketing automation, personalized advertising and lead generation services, and a mobile app for agents on the go. BoomTown's service offerings extend far beyond technology with coaching services from peers who have catapulted their growth with the system, lead qualification services to contact, qualify, and nurture leads, and dedicated advisors to offer personalized support at every step from onboarding and training to optimizing your business and planning for strategic growth. Founded in 2006 and headquartered in Charleston, SC, BoomTown has additional offices in Atlanta, GA, and San Francisco, CA. For more about BoomTown visit boomtownroi.com.
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Buffini & Company, NAR Announce Partnership on New '100 Days to Greatness' Educational Course
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Rent Declines Accelerate in Tech Hubs as Remote Work Prompts the Desire for More Space
Rents continue their downward spiral throughout the San Francisco Bay Area along with Manhattan, Boston, Seattle and Washington, D.C. SANTA CLARA, Calif., Nov. 13, 2020 -- Rents in the nation's tech hubs continued their descent in October, falling by one-third for a studio apartment in San Francisco year-over-year, according to the realtor.com monthly rental report released today. The report also showed that while the declines have begun to slow down nationally, renters are seeking both affordability and more space the longer they work from home. Nationally, rental growth rates are still far below where they were pre-COVID, but declines are starting to lessen. The median studio unit rent in October was $1,316, down 0.8% year-over-year. The median one-bedroom rent in October was $1,495, up 1.1% year-over-year. The median two-bedroom rent continued to increase in October. At $1,869, it was up 2.6% year-over-year, approaching its pre-COVID annual growth rate of 3.5%. "The combination of tech companies extending their work from home policies through mid-2021 or even indefinitely, and the desire for more space, especially with the weather cooling, is putting pressure on rents in the most expensive urban metros and tech hubs," said realtor.com® Chief Economist Danielle Hale®. "Just as we saw with buyers, many renters appear to be looking to escape their urban life altogether, while others are looking for more space. Nationwide, rents for two-bedroom units have begun to bounce back and if the trend continues, price growth could return to pre-COVID levels early next year." San Francisco led the nation in declines with monthly rents falling 33.3%, 26.3% and 23.4% for studio, one-bedroom and two-bedrooms units year-over-year, respectively. Rents for studios and one-bedrooms in nearby Santa Clara and San Mateo counties also saw double-digit decreases in October. Outside of the Bay Area, Manhattan, Boston, Seattle, and Washington, D.C. were among the metros seeing the largest year-over-year declines. These markets also represent some of the most expensive cities in the country, giving rents the most room to fall. In October, the median studio rent in Manhattan was $2,395, down 20.0% year-over-year, accelerating from 15.4% a month earlier. One-bedroom rents in Manhattan were $3,250, down 16.7% compared to last year, and accelerating from a decrease of 11.7% in September. Two-bedroom rents in Manhattan were $5,333 in October, down 11.1% compared to last year, accelerating from a 4.1% decline a month earlier. Top 10 markets with largest one-bedroom rent decreases in October Top 10 markets with largest two-bedroom rent decreases in October Methodology: Rental units include apartment communities as well as private rentals (condos, townhomes, single-family homes). National rents were calculated by averaging the medians of the 100 largest counties, except for studios, which were based on 94 of those counties with at least 20 studio listings. About realtor.com® Realtor.com® makes buying, selling and living in homes easier and more rewarding for everyone. Realtor.com® pioneered the world of digital real estate 20 years ago, and today through its website and mobile apps is a trusted source for the information, tools and professional expertise that help people move confidently through every step of their home journey. Using proprietary data science and machine learning technology, realtor.com® pairs buyers and sellers with local agents in their market, helping take the guesswork out of buying and selling a home. For professionals, realtor.com® is a trusted provider of consumer connections and branding solutions that help them succeed in today's on-demand world. Realtor.com® is operated by News Corp [Nasdaq: NWS, NWSA] [ASX: NWS, NWSLV] subsidiary Move, Inc. under a perpetual license from the National Association of REALTORS®. For more information, visit realtor.com®.
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U.S. Properties with Foreclosure Filings on the Rise as Pandemic Remains a Threat to Economy
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The Residential Real Estate Council Launches New Education Subscription Option for Residential Real Estate Agents
CHICAGO, Nov. 4, 2020 -- The Residential Real Estate Council announced the launch of a new education subscription program that allows more residential real estate agents to benefit from the Council's premiere education. The COVID-19 pandemic is changing the way the real estate industry operates. The program is a response to varying needs of agents in receiving education that is easily consumed and readily accessible, while not lacking in value. Education is the key to success and the Council's aim is to empower ethical and efficient real estate agents at all stage so of their career. The education subscription was designed with those agents that are new to the industry in mind. The education subscription is priced at only $19.99/month. Each month residential real estate agents will enjoy: A New Live Webinar on timely topics focused on business growth Unlimited access to our award-winning magazine, The Residential Specialist Magazine, that focuses on real estate trends, best business practices, and insights for the future Access to the Council's Marketing Toolkit with tools and social assets to keep your clients and future customers informed and generate awareness To become a subscriptions member and take advantage of valuable education and resources please visit crs.com/learn/edsub. For information on membership at the Residential Real Estate Council or the CRS Designation please visit crs.com. About RRC and CRS Designation The Residential Real Estate Council is the largest not-for-profit affiliate of the National Association of REALTORS® comprised of more than 28,000 members. The Council supports its members with advanced education, business and networking support. It also awards the CRS Designation to experienced agents who have completed advanced professional training and demonstrated outstanding professional achievement in residential real estate.
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Buffini & Company Launches Second Installment of their Industry-Changing Real Estate Agent Training Program, The Pathway to Mastery--Advanced
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High Demand and Low Inventory Continue Streak of High Residential Showing Traffic in Cities and Metropolitan Areas of U.S.
Data from ShowingTime lists Seattle, Denver, Washington, D.C., Salt Lake City, Cleveland, Boston and Baltimore among the areas recording a high number of home showings in September CHICAGO - October 30, 2020 - ShowingTime, the residential real estate industry's leading showing management and market stats technology provider, found that showing traffic remained strong in large metropolitan areas, with Seattle, Denver, Washington, D.C., Salt Lake City, Boston and Baltimore recording high numbers of home showings during the month of September according to the company's Showing Index®. With low inventory and sustained buyer demand, traffic jumped 64.1 percent year-over-year nationwide. "All but one of the top 20 markets with the heaviest buyer traffic recorded double-digit showings per listing in September, well above the current U.S. average of six showings per listing," said Michael Lane, President of ShowingTime. "That number more than doubled in several markets from the same time last year, despite the pandemic." Meanwhile, some communities along the beleaguered Gulf Coast – hit hard by Hurricane Laura at the end of August and Hurricane Delta in early October – experienced year-over-year declines in showings. Nevertheless, Louisiana is tracking ahead of 2019 figures for showing activity in what has proven to be a resilient real estate market. "In September, we saw a normal seasonal slowdown of about 8 percent from August," said ShowingTime Chief Analytics Officer Daniil Cherkasskiy. "Due to much lower levels of available inventory, however, showing activity is still significantly above last year's values, a situation that is likely to persist through next May." The Northeast Region saw a year-over-year increase in buyer traffic of 68.4 percent in September, marking the fourth consecutive month the region recorded the largest jump in showing activity. The West's 65.3 percent uptick followed, with the Midwest's 61.6 percent rise and the South's climb of 60.8 percent both close behind. "The showing traffic data suggests that buyers and sellers alike are undeterred from completing their real estate transactions," added Lane. "It's clear that real estate professionals have made adjustments and increased their efforts to make the most of this market." The ShowingTime Showing Index is compiled using data from more than six million property showings scheduled across the country each month on listings using ShowingTime products and services. The Showing Index tracks the average number of appointments received on active listings during the month. To view the full report, visit showingtime.com/showingtime-showing-index/. About ShowingTime ShowingTime is the residential real estate industry's leading showing management and market stats technology provider, with more than 1.7 million active listings subscribed to its services. Its products are used in 370 MLSs representing one million real estate professionals across the U.S. and Canada. Contact us at [email protected]
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Realtors Prepare to "Reset, Refocus, and Get Reinvigorated" During First-Ever Virtual Realtors Conference & Expo
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W+R Studios Announces Longest Free Trial Program in Company's History
Free access to Cloud CMA (including Homebeat and Cloud CMA Live), Cloud Streams, Cloud MLX, and Cloud Attract until February 2021. Huntington Beach, CA (October 26, 2020) - Privately held software company, W+R Studios, announced today a nationwide campaign offering their popular Cloud Agent Suite free to all real estate agents up to February 2021. Beginning October 26th, agents can get up to 3 months of free service on real estate's most popular tools. The Cloud Agent Suite includes Cloud CMA (plus Homebeat and Cloud CMA Live), Cloud Streams, Cloud MLX, and Cloud Attract. Cloud CMA helps agents generate awesome reports designed to win more listings. Homebeat allows agents to automate their Cloud CMA reports to stay top-of-mind with past clients and homeowners. Cloud CMA Live gives agents the freedom and flexibility to do their listing presentations in person or remotely and modify comps on the fly. Cloud Streams is an auto-prospecting/text listing alert tool that sends alerts faster than any other portal. Award-winning Cloud MLX is an easy search tool that allows agents to search the MLS similar to how you search Google. And last but not least, Cloud Attract creates lead generating landing pages in seconds that agents can share with their sphere of influence to generate leads. "2020 has been a challenging year and we could all use a little more love and positivity in our lives," stated W+R Studios' co-founder Greg Robertson. "So we wanted to finish it off with something big and spread some positivity by offering all our products free until February 2021" continued Mr. Robertson. "Many of our customers already get access to Cloud CMA as part of their MLS membership, but we wanted to make it easy for them to try all other products - including Homebeat and Cloud CMA Live - and see how well they all work together as part of the full Cloud Agent Suite. It's the longest free trial program we ever offered and I think in the entire real estate software industry." Cloud CMA Live is this year's free enhancement to Cloud CMA and empowers agents to win more listings with a digital and interactive listing presentation experience. Agents can add or remove comps on the fly or instantly launch a virtual meeting with built in meeting tool integrations like Zoom and Skype. "An interactive CMA has been a requested feature of Cloud CMA for many years and we were very excited to launch Cloud CMA Live this year and fill the need that agents have of hosting virtual listing presentations and adapting their CMA to the conversation in the moment." concluded Mr. Robertson. To find out more, visit cloudagentsuite.com. Product availability depends on MLS participation. The cost of the Cloud Agent Suite will be $449 annually or $99 per month after the free trial promotion ends. There are no contracts and agents can cancel or change their level of service at any time. About W+R Studios Founded in 2008, W+R Studios is a privately held web software company located in Huntington Beach, California. The company focuses on creating the next generation of web-based software solutions for the real estate industry. By providing a "less is more" approach to software design, elegant user interfaces, and using the latest in agile programming, W+R Studios' software applications are at the same time powerful, yet accessible to everyone. Co-founders Dan Woolley and Greg Robertson have over 26 years of experience each developing and marketing real estate software solutions.
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Realtor.com Survey Finds Ghosts and Goblins Don't Have Homeowners Hanging a For Sale Sign
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NAR Launches 'NAR en Espanol' Website
WASHINGTON (October 13, 2020) -- The National Association of Realtors today launched NAR en Español, a fully-Spanish sub site to the association's main webpage, nar.realtor. As its Spanish-speaking membership continues to rise at a historic pace, the group's NAR en Español initiative has since 2018 helped local and global members leverage their Realtor affiliation while facilitating various networking and educational resources for Spanish-speaking Realtors®. Most recently, a component of NAR's "Right Tools, Right Now" program has focused on ensuring local and global Spanish-speaking Realtors® and bilateral partners are aware of and have access to the resources NAR provided its members in response to the COVID-19 pandemic. "I am proud of how NAR and its affiliates have collaborated on and supported this program from the very beginning," said Alejandro Escudero, NAR's manager of global alliances and business development. "Adding content and resources in Spanish will help us increase NAR brand recognition and support amongst Realtor® members and consumers both domestically and around the world. And by ensuring many of the great resources NAR produces for its members are also available in Spanish, the NAR en Español platform will help us to continue engaging and educating our Spanish speaking stakeholders." NAR en Español maintains a significant focus on member education initiatives, last summer hosting over 300 students from 15 countries for two fully virtual Accredited Buyer Representative and Seller Representative Specialist courses, held in Spanish. "NAR is committed to elevating our members' levels of professionalism, and we know that increasing and enhancing educational opportunities is one of the best ways to get there," said NAR Vice President of Association Affairs Mabél Guzmán. "These courses are not only critical toward understanding the latest trends and changes within our industry, but also a fantastic way to build relationships and grow our Realtor® networks. In addition, much of this content will help provide a positive real estate experience for Hispanic buyers and sellers, a rapidly growing segment of our industry." Visit www.nar.realtor/nar-en-espanol to access NAR's new Spanish language webpage. "The vision that NAR's Engagement team has shown throughout the development of NAR en Español has been transformative for both our association and our industry," said Katie Johnson, general counsel and chief member experience officer at NAR. "Evolving from a simple NAR en Español Facebook page into the comprehensive collection of resources we offer to our members today, I'm so proud to see this association enhance the support we provide to this important and ever-growing segment of real estate professionals." The National Association of Realtors® is America's largest trade association, representing 1.4 million members involved in all aspects of the residential and commercial real estate industries.
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Northeastern Housing Markets Remain Most at Risk of Economic Impact from Coronavirus Pandemic
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Chime Partners with Ylopo to Enhance Lead Generation Capabilities and Drive Better Conversion through Data Driven Technology
Best of breed solutions delivered on one powerful platform built for real estate industry PHOENIX, Oct. 06, 2020 -- Chime Technologies, an award-winning operating system for the real estate industry, today announced a strategic partnership with Ylopo, a leading provider of digital marketing technology solutions for real estate agents, teams and brokerages. The ecosystem supported by this relationship will allow real estate professionals to gain access to Ylopo's best of breed marketing and lead generation tools and Chime's complementary award-winning lead conversion tools to more effectively convert prospects into clients. Through a thoughtful and strategic integration, Chime and Ylopo are helping arm today's agents with the most comprehensive platform, built on data driven insights, to drive the bottom line. To learn more, visit HERE. Historically, the real estate industry has suffered at the hands of technology companies trying to be all things to all people. In order to be successful, agents need access to both intuitive lead generation tools and powerful CRM capabilities to identify, manage and nurture leads. Recognizing the industry gap, Chime and Ylopo have integrated their best of breed solutions to support both lead generation and lead conversion. Through this partnership, Ylopo will manage lead generation and remarketing and feed all lead intelligence (property types, neighborhoods, amenities, price, etc.) directly into the Chime CRM. Now clients will be armed with actionable intelligence they can use to better serve the buyers and sellers in their CRM and grow their business. See how it works HERE. "We are thrilled to partner with Ylopo and extend the value of our powerful platform. By combining our best in class data driven solutions, we are helping customers stay ahead of their competition, better serve their clients and grow their business," said Mike McGowan, Vice President, Sales, Chime. "We keenly understand the real estate industry and what agents and teams need to be successful" said Howard Tager, Co-Founder & CEO, Ylopo. "Partnering with Chime is a strategic opportunity to combine our innovative digital marketing technology with Chime's market leading CRM platform to give customers the best of both worlds and ensure long term success." "As the CEO of Lab Coat Agents, I often get the opportunity to test new products and when I uncover powerful technology combinations, I am eager to share for the betterment of this industry," said Tristan Ahumada, CEO, Lab Coat Agents. "One of the best CRM and marketing integrations I've seen is the Chime-Ylopo partnership. The combined platform includes a number of essential tools needed to effectively run a real estate business today including AI, DARE Ads, PPC2.0, Facebook lead ads, A Dialer, Automation, Agent App, and more." To learn more visit, HERE. About Chime Technologies Chime is an all-in-one Sales Acceleration Platform for the real estate industry headquartered in Phoenix, Arizona. Its award-winning productivity suite offers a robust set of features that help real estate professionals and teams of all sizes run and grow their business. Chime Technologies operates as a US subsidiary of Renren, Inc. (RENN). For more information, contact [email protected] or 888-682-4463, or visit www.chime.me. About Ylopo Founded in 2016, Ylopo is in business to make property marketing and agent branding fast, affordable, and easy to manage. Co-founded by Howard Tager and Juefeng Ge, the privately funded company has grown by more than 300% since launch and is responsible for an array of innovations in real estate marketing, namely the proliferation of automated, budget-conscious online advertising campaigns for Facebook. For more information, contact [email protected] or visit www.ylopo.com.
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Realtor.com Red Versus Blue Report: Blue State Americans Are Searching For Homes In Swing States; What Does That Mean For The Presidential Election?
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ShowingTime's Data Finds Home Showings Continue at a Torrid Pace, Jumping Nationwide for Fourth Consecutive Month
Residential Showings Increased 73.7 Percent Year-Over-Year in the Northeast Region, the Biggest Gain in the U.S. Chicago, IL (September 30, 2020) -- ShowingTime, the residential real estate industry's leading showing management and market stats technology provider found summer housing market ended much as it began, as buyers again turned out in droves in August, according to data from the ShowingTime Showing Index®. The 61.9 percent year-over-year increase in nationwide showing activity is the largest recorded during the current four-month surge in demand. Coupled with a lack of inventory and growing buyer demand, there was a marked increase in the average number of showings per listing. The sustained surge has reached historic heights, aided by continued adoption of virtual showings. The Northeast Region's 73.7 percent increase was the largest of the four regions tracked by the ShowingTime Showing Index®, while August showing traffic increased 61.9 percent year over year nationwide, the largest jump during the current four-month surge in activity. "The trends we've been observing the past few months have continued, with buyers competing for fewer listings," said ShowingTime Chief Analytics Officer Daniil Cherkasskiy. "Normally, real estate activity begins to slow down in the late summer, but this year it peaked in July, August and into September. Only in late September did we begin seeing signs of a seasonal decline." The Northeast Region saw the largest gain for the third consecutive month, with a 73.7 percent increase in traffic. The West's 55.1 percent year-over-year increase came next, followed by the Midwest's 54.9 percent increase and the South's 51.9 percent climb. "If there was any question about the vitality of the market, August's numbers provide a definitive answer," said ShowingTime President Michael Lane. "It's gratifying to know agents, teams and offices using our services have been able to manage this historic demand." The ShowingTime Showing Index is compiled using data from more than six million property showings scheduled across the country each month on listings using ShowingTime products and services. The Showing Index tracks the average number of appointments received on active listings during the month. About ShowingTime ShowingTime is the residential real estate industry's leading showing management and market stats technology provider, with more than 1.7 million active listings subscribed to its services. Its products are used in 370 MLSs representing one million real estate professionals across the U.S. and Canada. Contact us at [email protected]
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RateMyAgent Launches an Industry-Wide Agent of the Year Awards Program
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Realtor.com Weekly Housing Report: Nearly 400,000 Fewer Homes Have Been Listed Since the Start of the Pandemic
Overall market strength shows slight improvement over last week due to the containment of natural disasters SANTA CLARA, Calif., Sept. 24, 2020 -- Since the beginning of the COVID pandemic in March, nearly 400,000 fewer homes have been listed compared to last year, leaving a gaping hole in the U.S. housing inventory, according to realtor.com's Weekly Housing Report for the week ending Sept. 19. As a result, home prices are accelerating at double last year's pace while homes sell 12 days faster than last year, on average. "Sellers are more reluctant to list their home given the uncertainty over the economy and the pandemic environment. Buyers on the other hand, especially hungry first timers, remain largely unfazed by the challenges, and are motivated by low mortgage rates and the fear of missing out on the right home," said Javier Vivas, director of economic research for realtor.com®. "The majority of sellers are also buyers, so even as new listings hit the market, another buyer is also added. Adding to the inventory issues, thousands of previously vacant homes, such as second homes and rentals, have been reoccupied by their owners during the pandemic, effectively taking them off the market." Number of homes on the market remains woefully behind last year Since mid-March (the beginning of the COVID pandemic), a total of 2.91 million unique properties have been put on the market for sale. This is approximately 390,000 fewer homes than the 3.30 million listed during the same period last year. As of this week, the number of homes on the market is down 39% compared to last year. With the typical seasonal slowdown approaching, relief in terms of more available homes for sale is unlikely. The number of new listings hitting the market this week was down 15% compared to last year, a slight improvement over last week's decline of 17%. The slight uptick was likely a result of having a full work week compared to the short holiday week (Labor Day), as well as better containment of wildfires on the West Coast. Home prices continued to see record breaking growth Median listing prices continued to grow at last week's record breaking pace of 11.1% year-over-year. This is more than double January 2020's price acceleration and the 19th week in a row of price acceleration. Homes are selling even faster than last week Homes are selling in 53 days, which is 12 days faster on average than this time last year, and one day faster than last week. The rapid turnover is fueling home sales, and keeping the market from stalling. With buyer demand showing no signs of cooling, homes are expected to continue flying off the market, despite a depleted supply. Housing market strengthens after last week's disasters Realtor.com® tracks the overall strength of the housing market through its proprietary Housing Market Recovery Index, which compares real-time key indicators including trends in number of searches on realtor.com®, median listing prices, the number of newly listed homes, and the time it takes to sell to January 2020, prior to the pandemic. This week, the index was 107.2 points, 1.0 point stronger than last week and 7.2 points stronger than it was pre-COVID. The slight improvement over last week can be attributed to the containment of fire and hurricane damage, which had weakened levels of supply.   About realtor.com® Realtor.com® makes buying, selling and living in homes easier and more rewarding for everyone. Realtor.com® pioneered the world of digital real estate 20 years ago, and today through its website and mobile apps is a trusted source for the information, tools and professional expertise that help people move confidently through every step of their home journey. Using proprietary data science and machine learning technology, realtor.com® pairs buyers and sellers with local agents in their market, helping take the guesswork out of buying and selling a home. For professionals, realtor.com® is a trusted provider of consumer connections and branding solutions that help them succeed in today's on-demand world. Realtor.com® is operated by News Corp [Nasdaq: NWS, NWSA] [ASX: NWS, NWSLV] subsidiary Move, Inc. under a perpetual license from the National Association of REALTORS®. For more information, visit realtor.com®.
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MoveEasy Launches Mobile App
Yes, you read that correctly. Moving just got even easier here at MoveEasy. You can now manage all of your home management tasks in one easy to navigate dashboard, making your move a breeze. For Agents Our branded experience with a white label feel puts us above the rest for all of your clients needs. Our state of the art moving concierge service is now at the touch of a button, complete with vendor and utility recommendations to make that home set up process easier than ever. We stand apart by allowing agents to create a personalized recommendation based on their location and network v. attempting to build our own. After all, who knows the area better than you, the agent. "We're not trying to build our own network of providers, we're giving agents a delivery vehicle for their network," says Venkatesh Ganapathy (CEO). We're here to help make moving feel personal during these impersonal times for you, and your client. For Movers Our main goal for you? Spending as little time prepping for your home as possible, so you can go back to doing the things you love. Homeownership is lifetime decision, and we're to help you every step of the way. No need to have a to do list handy, the MoveEasy app features reminders to keep you on track every time with the help of your designated agent. We like to keep things personal, and allow your agent to help guide your moving experience from start to finish, from finding that perfect cable company, to getting your utilities up and running. With the MoveEasy app there are no phone calls required, as you can send messages and photos directly through the app. We know what you're thinking "can this get any easier?", and the answer is yes! Utilize your Alexa at home to connect with the MoveEasy app and you won't even need to touch your phone. What are you waiting for? Download the MoveEasy app now and get started! Currently available in the App Store. To view the original post, visit the MoveEasy blog.
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W+R Studios Co-founder Greg Robertson Releases Debut Title, 'The Art of the CMA'
New book helps real estate agents and brokers let go of fear and compete in a new world of proptech. September 10, 2020 (HUNTINGTON BEACH, CA) - Software entrepreneur, blogger and podcaster, Greg Robertson has released his first book, The Art of the CMA. A 28-year veteran of the real estate technology industry, Greg is sharing his experience of helping create real estate's most popular Comparative Market Analysis (CMA) tools including the recent Cloud CMA Live. Throughout his career, Greg has had thousands of conversations with agents and brokers nationwide on how they can leverage real estate's most versatile tool, the CMA. The CMA is powerful in that it highlights their unique knowledge to compete both offline and online in a new world dominated by ever-changing business models and huge real estate portals. "Artificial intelligence is just that, artificial, it's not real," stated author Greg Robertson. "All real estate is local, and when it comes to something as crucial as pricing a home, nothing beats the eyes, ears, and nose attached to the brain of a good real estate agent. There is far too much time and energy spent in the industry hating on real estate portals, iBuyers and new business models who are "trying to destroy us." It is only when agents let go of fear that they can clearly see what a huge opportunity this new era in real estate brings." The new book includes a forward by industry thought leader Sharran Srivatsaa and bonus content of the results of the W+R Studios' 2020 Survey of Best Practices for CMAs and Listing Presentations. For more information and to purchase the book, please visit theartofthecma.com. Bulk discounts for teams and brokers are available. About the Author Greg Robertson has been in the real estate technology industry for over 28 years. He is the co-founder of W+R Studios, a privately held software company. Greg is on the "Power 200," a list of the most influential people in real estate. He has served as a director on the Council of MLS (CMLS), an organization dedicated to improving the Multiple Listing Service industry. He publishes the popular real estate technology blog, Vendor Alley. He also hosts two podcasts, Listing Bits and Industry Relations. Greg lives in Huntington Beach, California with his wife Jennifer, their three kids, and dog Molly. About W+R Studios Founded in 2008, W+R Studios is a privately held web software company located in Huntington Beach, California. The company focuses on creating the next generation of web-based software solutions for the real estate industry. Their flagship product, Cloud CMA, part of the popular Cloud Agent Suite, is licensed to over 500,000 real estate professionals all over North America.By providing a "less is more" approach to software design, elegant user interfaces, and using the latest in agile programming, W+R Studios' software applications are at the same time powerful, yet accessible to everyone. Co-founders Dan Woolley and Greg Robertson have over 28 years of experience each developing and marketing real estate software solutions.
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NAR Announces New International Language Assets Available on NAR+Photofy App
CHICAGO (September 3, 2020) -- The National Association of Realtors announced today that it is expanding the global capabilities of its collaboration with Photofy, which has allowed Realtors to personalize and share content and key messages from NAR's consumer ad campaign across the world. While NAR members have had the ability to deliver promotional social media graphics in English and Spanish, today's announcement will immediately allow Realtors to share customizable content in French, Japanese, Romanian and Portuguese. "NAR is fortunate to have the scale, resources and member support to back a national advertising campaign that exemplifies who Realtors® are and the value they bring to a transaction," said NAR President Vince Malta, broker at Malta & Co., Inc., in San Francisco, CA. "And as we work to ensure our members can maximize the campaign to make their businesses more successful, we're excited that Realtors® will be able to utilize this new international language feature to share messages with countless potential clients in America and across the globe." NAR members will now be able to share over 100 customizable and static assets in dozens of additional countries, many of which represent the locations where the highest number of Realtors® do business. With more than 100 partner associations currently operating in 85 countries, NAR's Global team has focused on developing initiatives that strengthen international partnerships and generate additional visibility for members around the world. "The NAR Global team's tireless work building connections and communicating with partner associations across the globe ensures we are providing every possible resource to our International Realtor® Members," said Katie Johnson, general counsel and chief member experience officer at NAR. "New assets like these create engagement with members in dozens of nations and who speak these languages, allowing them to reach across international borders, discover new clients and generate new business opportunities." Realtors® are encouraged to personalize and share these and other "That's Who We R" campaign assets on their social media accounts. More information can be found on NAR's international language assets page or by visiting signup.photofy.com/nar to create a Photofy account and gain access to campaign assets. Today's announcement comes as the "NAR en Español" initiative is growing to extend services to Spanish-speaking members, both domestically and abroad. NAR expects to make new announcements surrounding this program in the coming months. The National Association of Realtors® is America's largest trade association, representing 1.4 million members involved in all aspects of the residential and commercial real estate industries.
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Historic Jump in Showing Activity Seen Nationwide as July Home Buyer Traffic Surges 60.7 Percent
Buyer Demand Continues to Outstrip Supply Following Third Consecutive Month of Increasing Showing Traffic August 26, 2020 - Home buyer traffic jumped again in July, recording a 60.7 percent year-over-year increase in nationwide showing activity according to data from the ShowingTime Showing Index®. It marked the third consecutive month of growing foot traffic in all four U.S. regions, a sign of the continued resilience of the U.S. residential real estate market and sustained buyer demand. The latest data from ShowingTime also reveal continued adoption of virtual showings, as the number of listings set up to allow both in-person and virtual appointments increased 28 percent in July. "Multiple existing trends continued and were amplified in July as buyers competed for a dwindling supply of homes, pushing the level of competition and prices higher across all major regions of the U.S.," said ShowingTime Chief Analytics Officer Daniil Cherkasskiy. "Part of the imbalance can be attributed to the fact that potential sellers are not yet seeing the latest negotiated selling prices, which usually come out with a one-to-two-month delay. "In previous years, July would be the month when real estate activity begins to slow down," Cherkasskiy said. "In 2020, July became the peak month of the delayed busy season. A glimpse at August trends also suggests that demand is staying at this high level and may continue to do so through at least September." For the second consecutive month, the Northeast saw the most significant boost in year over year activity, with a 76.6 percent increase. The West followed, with a 56.7 percent jump, while the Midwest recorded a 52.1 percent increase and the South saw a 46.7 percent uptick. "All indications point to sustained growth in buyer demand, and we're committed to helping agents meet it," said ShowingTime President Michael Lane. "The rate of agent adoption of ShowingTime LIVE Video continues to increase, which demonstrates its utility as a valuable tool to keep showings going when in-person showings aren't possible." The ShowingTime Showing Index, the first of its kind in the residential real estate industry, is compiled using data from more than six million property showings scheduled across the country each month on listings using ShowingTime products and services, providing a benchmark to track buyer demand. Released monthly, the Showing Index tracks the average number of appointments received on active listings during the month. Localized MLS indices are also generated for select markets and are distributed to MLS and association leadership. To view the full report, visit showingtime.com/showingtime-showing-index/. About ShowingTime ShowingTime is the residential real estate industry's leading showing management and market stats technology provider, with more than 1.7 million active listings subscribed to its services. Its showing products and services simplify the appointment scheduling process for real estate professionals, buyers and sellers, resulting in more showings, more feedback and more efficient sales. Its MarketStats division provides interactive tools and easy-to-read market reports for MLSs, associations, brokers, agents and other real estate companies, as well as a recruiting tool for brokers. ShowingTime products are used in 370 MLSs representing one million real estate professionals across the U.S. and Canada. For more information, contact us at [email protected]
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West Coast, Best Coast, No More?
Millennials trade glitz and glam of downtown for affordability and more space to raise a family; West Coast is absent from annual Hottest ZIPs ranking SANTA CLARA, Calif., Aug. 18, 2020 -- East Coast markets flexed their dominance while West Coast markets failed to make the cut in realtor.com's 2020 Hottest ZIP Codes released today. In its sixth annual report, millennials continue to migrate away from the nation's urban centers in search of affordable housing and space to raise a family. The 2020 hottest ZIP codes in America, in rank order, are: 80911 Colorado Springs, Colo.; 43068 Reynoldsburg, Ohio; 14617 Rochester, N.Y.; 02176 Melrose, Mass.; 04106 South Portland, Maine; 66614 Topeka, Kan.; 03051 Hudson, N.H.; 01602 Worcester, Mass.; 22152 Springfield, Va.; and 27604 Raleigh, N.C. Among this year's top 10 hottest markets in America, a few consistent factors are driving their popularity, including: easy access to both downtown amenities and outdoor space, relative affordability with a strong local economy, and a large number of millennial homebuyers. Homes in this year's hottest ZIPs sell in an average of 18 days, 51 days faster than the rest of the country and 27 days faster than their respective metros, on average. Realtor.com® users view homes in these markets 4.3 times more often than homes in the rest of the country and 2.2 times more often than in their respective metro areas, on average. These housing markets are also 29% less dense (households per sq. mile) than the nation's top 50 largest metros. "This year's hottest ZIP codes lean noticeably toward the East Coast. Nothing west of the Rocky Mountains made the list," according to realtor.com® Chief Economist Danielle Hale. "But when you view the list through the lens of affordability, the picture becomes more clear. As the largest generation in U.S. history continues to advance toward life milestones -- settling down, marriage, parenthood -- the need for space and affordable housing outshines the bright lights in expensive urban areas like New York or Los Angeles. While we've seen millennials moving in this direction for a few years now, all the extra time at home spent trying to work, learn, and play in response to the pandemic has heightened these preferences, and put the trend toward extra space and affordability on fast-forward." East Coast dominates hottest ZIPs Half of this year's hottest ZIPs reside in the Northeast, including Rochester, Melrose, South Portland, Hudson, and Worcester. Demand for these markets was driven by a lack of affordability in nearby larger urban cores such as New York and Boston where prices have sky-rocketed and increased space is a luxury many can't afford. Further south, but still along the East Coast, are Springfield and Raleigh. Although many of these markets were hit by the COVID-19 pandemic first, they were also some of the first to recover, which allowed buyers to come out in force to make up for lost time during the typical spring home buying season. Pent up demand has helped catapult these markets to the top of the list where homes are flying off the market 3.4 times faster than the average home. Millennials attracted by affordability As millennials continue to seek more bang for their buck, demand is sparking up in smaller, less dense markets where housing is more affordable and being a millennial homeowner is more than just a pipe dream. In fact, the average millennial homeownership rate in this year's hottest ZIPs is 53%, compared to 43% for the rest of the country. In part, this is because millennials are thriving in these areas. The average household income for millennials in the hottest ZIPs is $82,011, 27% greater than the national median of $64,670. Millennials in these markets aren't only doing well compared to millennials in other areas, they are doing well compared to other generations as well, including Baby Boomers. In each of the 10 hottest ZIPs, millennials make up the greatest share of mortgage originations. The average share of originations for millennials is 38% in the hottest ZIPs, compared to 27% for 35 to 44 year olds. 2020 Hottest ZIP Codes in America 1) 80911, Colorado Springs, Colo. -- ZIP 80911 is located on the southern edge of Colorado Springs and about 1.5 hours from Denver. The area is known for its great weather with over 300 days of sunshine a year, easy access to the outdoors such as Garden of the Gods Park, and vibrant downtown including a robust art scene. The area is also home to the brand new United States Olympic & Paralympic Museum, which just opened in July. This area offers residents a great quality of life including affordable homes, especially compared to nearby Denver, and strong schools such as Martin Luther King Jr Elementary School (GreatSchools rating 8/10). Last year, ZIP 80916, also located in Colorado Springs, was ranked No. 10 overall. Housing Stats: Homes in ZIP 80911 spend an average of 13 days on market, 20 days less than the Colorado Springs metro on a whole and 58 days less than the national median. The median listing price is $287,000, up 6.5% year-over-year, but 39% lower than the metro and 13% lower than the national median. Seventy-seven percent of residents in ZIP 80911 are homeowners and millennial homeownership is 62%. 2) 43068, Reynoldsburg, Ohio -- ZIP 43068 is located less than a 30-minute drive to the east of Columbus, Ohio. The area attracts young and growing families with its quiet suburban feel while still having easy access to downtown Columbus and all it has to offer. The area boasts a strong school system including Reynoldsburg High School, which is rated a 9/10 by GreatSchools. Additionally, with its close proximity to The Ohio State University, the area keeps a youthful vibe with lots to do, all within a short drive. For those not wanting to head into Columbus, Reynoldsburg offers residents plenty of dining and shopping choices in its revitalized downtown. Seventy percent of residents live within one mile of downtown Main Street. Housing Stats: Homes in ZIP 43068 spend an average of 17 days on market, 28 days less than the Columbus metro and 52 days less than U.S. The median priced home is $204,000, 37% less than the metro and 38% less than the national median. Fifty-six percent of residents in this ZIP are homeowners and millennial homeownership is 38%. 3) 14617 Rochester, N.Y. -- ZIP 14617 is located along the Genesee River and southern shore of Lake Ontario. The area's massive revitalization, especially along the riverfront, has boosted its popularity with young millennials who want to take advantage of downtown's amenities including boutique shopping and great restaurants. Rochester is New York's third largest metro area and includes a blend of history and innovation. The area is also drawing young families with its strong school system including Iroquois Middle School (GreatSchools rating 8/10). Rochester is no stranger to realtor.com®'s Hottest ZIPs list, last year ZIP 1460 ranked No. 5. Housing stats: Homes in ZIP 14617 sell in an average of 18 days, 26 days faster than the Rochester metro as a whole and 51 days faster than the national median. The median listing price is $162,000, up 16.6% year-over-year, but 35% lower than the metro and 51% lower than the national median. Eighty percent of residents in this ZIP are homeowners and millennial homeownership is 82%. 4) 02176 Melrose, Mass. -- ZIP 02176 is located just 10 miles north of Boston. The area boasts a historic downtown, desirable school system which includes Horace Mann Elementary School (GreatSchools rating 9/10) and easy access to public transportation. The town attracts many young families who are looking for more space but still want to enjoy a quick commute to Boston. Locals enjoy boating and stand-up paddle boarding on nearby Spot Pond, the downtown with its boutique shops and restaurants and easy access to green space including the Fells Reservation with great hiking trails. Melrose is a veteran on the Hottest ZIPs list, it ranked No. 7 in 2019. Housing stats: Homes in Melrose sell in an average of 19 days, 26 days faster than the metro and 50 days faster than the national median. The median listing price is $644,000, 2% higher than the metro and 95% higher than the national median. Sixty-three percent of residents in this ZIP are homeowners and millennial homeownership is 46%. 5) 04106 South Portland, Maine -- ZIP 04106 is located on scenic Casco Bay and is part of South Portland. It offers a slightly more affordable option compared to the city of Portland, while still being close to downtown and its world-class restaurants. South Portland is a short drive from Portland Head, Maine's oldest and the country's most-photographed lighthouse. They don't call it "vacationland" for nothing -- South Portland also boasts beautiful beaches, miles of rocky coastline, friendly atmosphere and the ability to walk almost anywhere. The community attracts a lot of families and people looking to escape bigger cities like Boston and New York. Housing stats: Homes in ZIP 04106 spend an average of 21 days on the market, seven days more than last year, but 38 days less than the Portland metro overall. The median list price is $377,000 up 4.2% year-over-year. Asking prices are 9% lower than the metro overall, but 14% higher than the U.S. median. Fifty seven percent of residents in this ZIP are homeowners and millennial homeownership rate is 36%. 6) 66614 Topeka, Kan. -- ZIP 66614 is located on the western side of Topeka, the state capital of Kansas. The area is known for the landmark U.S. Supreme Court case Brown v. Board of Education that declared segregation in public schools to be unconstitutional. While government, healthcare and education are some of the ZIP's largest employers, Topeka is home to a number of manufacturing and distribution centers, including Target, Frito-Lay Inc, Mars Chocolate and Goodyear Tire. In particular, ZIP 66614 is attracting both move up and first-time home buyers with its affordability and close proximity to the area's new shopping and entertainment as well as easy access to Kansas City that is within an hour's drive. Housing stats: Homes in ZIP 66614 sell in 19 days on average, 19 days faster than the metro and 50 days faster than the national median. The median listing price is $184,000, 14% more than the metro, but 44% lower than the national median. Sixty-two percent of residents in the ZIP are homeowners and millennial homeownership is 45%. 7) 03051 Hudson, N.H. -- ZIP 03051 is located in Hudson, N.H., less than an hour north of Boston. Many families looking to escape the busy Boston area head just over the border to the quiet area. Known as "tax-free" New Hampshire, locals enjoy a lower cost of living with no state income or sales tax. Nestled along the Merrimack River, Hudson offers lots of space with easy access to major freeways that lead to the lakes region, skiing or the seacoast. Visitors and locals with a taste for adrenaline enjoy checking out the local indoor skydiving and surfing facility, as well as outdoor activities like hiking, biking and snowmobiling. Housing stats: Homes in ZIP 03051 sell in 22 days on average, 22 days faster than the metro and 46 days faster than the national median. The median listing price is $350,000, 12% lower than metro as a whole. Seventy-eight percent of residents in this ZIP are homeowners and millennial homeownership is 33%. 8) 01602 Worcester, Mass. -- ZIP code 01602 is located on the western side of Worcester, just an hour outside of Boston. It's known for its historic homes, culturally diverse population and highly rated schools, such as Midland Street and West Tatnuck, both rated 8/10 by GreatSchools. Worcester State University is located in the heart of the ZIP and is one of the largest employers in the area, along with Becker College and Worcester Polytechnic Institute. Worcester is a hot spot for families and retirees looking for three or four bedroom homes, but increasing home prices have pushed it out of reach for many first time home buyers. Housing stats: Homes in Worcester spend an average 21 days on market, 31 days less than the metro as a whole and 48 days less than the national median. The median listing price is $318,000, 14% lower than metro as a whole and 4% lower than the national median. Sixty-three percent of residents in this ZIP are homeowners and millennial homeownership is 50%. 9) 22152 Springfield, Va. -- ZIP 22152 is located just inland of the Potomac River, while offering easy access for those working in and around Fort Belvoir, Pentagon City, Arlington, Alexandria, Va., D.C., and National Landing, the home of the new Amazon headquarters. This ZIP offers a mix of townhomes and single-family homes that provide options for both first-time and move-up buyers as well as considerable green space with Pohick Creek Stream Valley Park to the east and Lake Accotink Park to the north. The highly rated West Springfield High School (GreatSchools rating of 8/10), recently redeveloped Springfield Town Center and close proximity to Burke Town Center and Kingstowne are big draws for buyers to the area. Housing stats: Homes in ZIP 22152 sell in an average of seven days, 32 days faster than the metro area and 62 days faster than the national median. The median listing price is $553,000, 8% higher than the rest of the metro and 68% higher than the national median. Eighty percent of residents in this ZIP are homeowners and millennial homeownership is 66%. 10) 27604 Raleigh, N.C. -- ZIP 27604 is located on the north side of Raleigh and reaches all the way into downtown. The area boasts a high quality of living due to its affordability, and that helps draw many buyers from more expensive cities. Raleigh offers its residents all the amenities that come with a large city, but with a small town vibe and plenty of Southern hospitality. Buyers looking to move to the area will have to pledge their allegiance to one of the many incredible local basketball programs that include Duke University, North Carolina State University, and the University of North Carolina at Chapel Hill. Housing stats: Homes in this ZIP sell in an average of 25 days, 32 days faster than the metro as a whole and 44 days faster than the national median. The median listing price is $273,000, 27% lower than the metro and 17% lower than the national median. Fifty-four percent of residents in this ZIP are homeowners and millennial homeownership is 42%. Methodology Realtor.com® analyzed 20,000 ZIP codes based on the time it takes properties to sell and how frequently homes are viewed in each ZIP code from April-June 20, 2020. Eligible ZIP codes had at least 13 active listings each month to calculate a Hotness ranking. Limited to one ZIP code per metropolitan area. About realtor.com® Realtor.com® makes buying, selling and living in homes easier and more rewarding for everyone. Realtor.com® pioneered the world of digital real estate 20 years ago, and today through its website and mobile apps is a trusted source for the information, tools and professional expertise that help people move confidently through every step of their home journey. Using proprietary data science and machine learning technology, realtor.com® pairs buyers and sellers with local agents in their market, helping take the guesswork out of buying and selling a home. For professionals, realtor.com® is a trusted provider of consumer connections and branding solutions that help them succeed in today's on-demand world. Realtor.com® is operated by News Corp [Nasdaq: NWS, NWSA] [ASX: NWS, NWSLV] subsidiary Move, Inc. under a perpetual license from the National Association of REALTORS®. For more information, visit realtor.com.
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Real Estate Agents, Teams Get Access to Delta Media's Best CRM Platform for the First Time
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Urban Rental Markets Show Signs of Cooling
Rental Inquiries drop dramatically in most surveyed markets August 18, 2020 -- Rental Beast is a SaaS platform that simplifies the leasing process with an end-to-end platform and maintains a highly-accurate updated database of over eight million off-MLS rental properties. With active listings in 17 markets across the United States, and 10 additional markets opening within the next 60 days, Rental Beast's Data Services Group tracks various rental trends in its markets across the nation. Renters typically intensify apartment searches during summer months, and landlords expect an increase in showings and price hikes as demand soars. However, as the COVID-19 pandemic continues, Rental Beast's July 2020 data reflects a cooling in the rental market. In this report, we evaluate exclusive data from five major U.S. cities: Atlanta, Boston, Chicago, Miami, and Philadelphia. We track year-over-year (YOY) changes in Rental Inquiries and Rental Concessions in each city to gain a picture of market conditions. Rental Inquiries Rental Inquiries are prospective tenants actively seeking to rent an available property in our database. Rental Inquiry volume typically follows a predictable seasonal pattern—Rental Beast data from previous years show a high volume of Rental Inquiries during the summer months, as renters hoping to move in the fall begin their apartment search. Departures from such patterns serve as powerful, quantifiable early indicators of a shift in the rental marketplace, and are more powerful predictors of future transactional activity than traditional rental information, such as average rent. Rental Beast monitors all inquiries to available listings on the Rental Beast website and listings syndicated to our partner sites including Facebook Marketplace and Realtor.com. In July, Rental Inquiries were down YOY in four out of five markets surveyed. Boston, Miami, Atlanta, and Philadelphia all recorded significant YOY declines, and Chicago registered the only YOY increase: July represents the seventh consecutive month that Boston and Miami reported negative YOY Rental Inquiry rates—down 74% and 72%, respectively. As COVID-19 continues to force more people to work from home and reconsider their professional and personal priorities, city-center living becomes increasingly unappealing to renters. In July, Atlanta reported a 50% decline, continuing the city's nearly year-long trend of negative YOY Rental Inquiries. Industry leader, JP & Associates REALTORS® recently opened a string of fast-growing brokerages in the Atlanta area. Owner and Managing Partner of JP & Associates REALTORS® Metro Atlanta, Christopher Schlitz—a real estate veteran, having launched his career in Atlanta in 1991—commented on recent Rental Inquiry trends. Schlitz suggests that a recent spike in interest for large suburban homes from Atlanta-based apartment renters likely drove the year-to-date decrease in Rental Inquiries for Atlanta. Philadelphia registered a YOY drop of 5.7% in July. This decline marks the end of Philadelphia's upward trending Rental Inquiries. For a third consecutive month, Chicago registered positive YOY Rental Inquiries—a 5.6% YOY gain for July. In reaction to Chicago's July Rental Inquiry data, Kenneth Hawkins, Rental Beast's General Manager for the firm's Chicago Office, explains, "So many people expected the pandemic to be over with by now. Chicagoans are anxious to get back to some sort of normalcy and contemplating new living arrangements is part of that process." Hawkins continues, "While some renters plan to relocate out of the city, others are pursuing different living options within city limits." Rental Concessions Rental Concessions are compromises landlords make to original rent terms in the hope of filling a vacancy more quickly. Rental Concessions can include monetary compensation, a discount, or various goods and services. For July, Rental Concessions dropped in Chicago, Philadelphia, Miami, and Atlanta. Only Boston registered a YOY increase: Despite continued uncertainty surrounding rent moratoriums and the efficacy of supplemental unemployment benefits, landlords slowed the pace of Rental Concessions. July saw the following YOY declines: Chicago (-90%), Philadelphia (-86%), Miami (-83%), and Atlanta (-44%). In the months directly following increased lockdown orders—March, April, and May—many cities recorded double and triple-digit YOY increases in Rental Concessions. July's declines may reflect a temporary reprieve rather than a permanent reversal of this trend. Rental Beast's Hawkins suggests, "Many of the landlords who have consistently offered Rental Concessions since the pandemic's onset have now reached a point where they can no longer afford to do so without putting their property investments in jeopardy." Schlitz suggests that Atlanta's decline in Rental Concessions may be attributed to the pressure on families to finalize their living arrangements in advance of Atlanta schools' August 12th opening date. Due to this urgency to secure a new home, property owners are less incentivized to offer Rental Concessions. JP & Associates continues to monitor trends as the group expands rapidly in the Georgia and Florida area. For the fifth month in a row, Boston landlords utilized Rental Concessions to minimize vacancies. In July, Boston reported a 28% YOY increase in Rental Concessions, down from a 105% YOY increase in June. Throughout the month of July, many Boston landlords have been preparing properties for student move-ins under strict and expensive cleaning protocols and adjusting amenities to a new reality for student housing. During the summer months, many Boston-based colleges and universities announced plans to hold exclusively, or majority, online classes. While Boston can anticipate fewer students relocating to attend school, it is likely that a decrease in overall rental demand will be partially offset as on campus dorms de-densify. In response to these developments, Ishay Grinberg, Rental Beast's founder and CEO, says, "COVID-19 is a healthcare crisis that impacts every aspect of people's lives. As uncertainty continues, landlords are forced to make difficult choices with potentially long-term financial consequences. By continuing to offer Rental Concessions, property owners are clearly opting for a short-term but prudent loss in order to protect their property assets." About Rental Beast Rental Beast is a SaaS platform dedicated to simplifying every part of the leasing processes for real estate agents, landlords, and tenants. Rental Beast offers its users exclusive access to the nation's most comprehensive and accurate rental database, powerful communication and marketing tools to acquire and retain clients, and a secure and fast online application engine. We tackle the notoriously challenging leasing market and help landlords and agents build lasting relationships with many American renters.
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People Are Searching in the Suburbs More Than Ever Before
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ActivePipe Unveils Real Estate Content
New feature bridges gap between property marketing and content marketing Austin, TX - ActivePipe, the nation's leading email marketing solution for real estate companies and teams, announced today the rollout of Real Estate Content, a new feature that allows users to automate genuine content experiences within their email marketing campaigns. This feature is available now to current users following an extensive Q1-Q2 beta testing trial of rookie and veteran agents. "The Launch of Real Estate Content couldn't be timed better to coincide with Smart Match," says ActivePipe CRO Mike Feller. "With Real Estate Content, ActivePipe users can now take advantage of content marketing inside of their emails. We know that not everyone in agents' networks are looking to buy or sell their home, but with this feature, you can remain top-of-mind with current news, home design and renovation tips that are helpful, engaging and informative, so when they are ready to buy or sell, they know you're the one to call." Real Estate Content launches on the heels of ActivePipe's acquisition of HomePrezzo, the Australia-based presentation and content creation software that will help power Real Estate Content. HomePrezzo's tools, among many others, offer the ability to produce dynamic landing pages for agents, also. For agents choosing to utilize Real Estate Content, an option to be redirected to a personalized landing page is included. Real Estate Content reimagines content marketing by persona, ensuring each contact receives content matched to their personal interest no matter where they are in the property buying or selling process. Real Estate Content's blogs even help infer buying or selling intentions. This passive marketing technique gives you more information about your prospects making your personal outreach even more effective. Pre-built Customer Journeys are enhanced with clickable, agent-branded content, precisely catered to provide the right information to help move prospects closer to their goals while keeping you front of mind as the expert they need to complete a smooth transaction. ActivePipe's Real Estate Content library will deliver new pieces of data-driven content for agents. At launch, the library currently holds 100 original content marketing pieces for agents to choose from. Users can have content automatically inserted into their emails based on tags and categories assigned to their contacts. Through ActivePipe's proprietary AI system, user profiles are generated based on several categories and tags (i.e.: upsizer, downsizer, empty-nester, etc.) Agents and brokers are able to leverage ActivePipe to effectively lead their networks down a path of intention that results in more home sales. "ActivePipe developers are constantly looking for ways to save real estate agents time and money," Feller says. "However, the places we see opportunity to grow in the email marketing space are the same places agents are experiencing frustration. Our focus is to mitigate that frustration by listening to our users, many of whom were tired of sharing the same content to their networks. Real Estate Content saves time and brings more value to your email campaigns." About ActivePipe ActivePipe helps real estate agents to know which prospects to call next, based on their behaviour with your content. Cut through the noise and make easier calls by focusing on the topics your prospects are engaging with. It allows you to get your marketing done in minutes with a smooth, drag and drop email builder and pre-built customer journeys to set your business up for optimal conversions. Help your team get back to basics and never miss an opportunity.
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AerialSphere Launches Next-Gen Mapping Technology to Change How Consumers Experience Real Estate
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Rental Beast and Liberty Mutual Insurance Partner to Increase Access to Affordable Renter's Insurance
Rental Beast's renters and landlords now enjoy easy access to free rental insurance quotes and discounted rental insurance rates. SOMERVILLE, MA, AUGUST 6, 2020 -- Rental Beast, the only fully integrated SaaS platform for rentals with a comprehensive database of over eight million rental listings nationwide, announced a new partnership with leading insurance provider Liberty Mutual Insurance. Liberty Mutual will offer Rental Beast's renters free, no–obligation rental insurance quotes. Through this partnership, renters could have Renter's Insurance for as low as $5 a month*. Together, the two companies will increase the awareness of rental insurance and its accessibility. As landlords upload listings onto the Rental Beast search portal, they may now select rental insurance as a requirement for applicants. As renters use Rental Beast's online application engine, they can access free Liberty Mutual renter's insurance quotes that will remain valid for thirty days. "We've chosen Liberty Mutual Insurance as our preferred renter's insurance provider because Liberty Mutual is relentlessly dedicated to its customers," said Ishay Grinberg, founder and CEO of Rental Beast. "This partnership means renters can now achieve a full and accurate understanding of their living expenses, and landlords can take one more step to safeguard their investment. We're pleased to make affordable renter's insurance more accessible while giving Liberty Mutual access to eager renters early in the decision-making process." The partnership advances Rental Beast's goal of simplifying the rental market and offering landlords—in particular, small landlords—the tools they need to have a successful rental investment. Rental Beast adds this offering to its suite of free tools for landlords, including rental listing services, a tenant screening service, and online rent collection. About Rental Beast Rental Beast is an end-to-end SaaS platform empowering real estate professionals with powerful productivity tools and the nation's most comprehensive database of over eight million off-MLS rental properties. Sourced directly from property owners, updated in real time, and offering a fulfillment-grade rental dataset, the Rental Beast database provides real estate professionals with an unparalleled view of all properties and owner types. For more information, visit rentalbeast.com. *Coverage provided and underwritten by Liberty Mutual Insurance Company or its subsidiaries or affiliates. Discounts and savings are available where state laws and regulations allow and may vary by state. Certain discounts apply to specific coverages only. To the extent permitted by law, applicants are individually underwritten; not all applicants may qualify.
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iGUIDE Partners with Floorplanner to Make Virtual Space Planning Easier and More Efficient
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Urban Land Institute Launches New Online Offering to Make Real Estate Careers More Accessible
New Foundations in Real Estate Curriculum Aims to Broaden and Diversify the Real Estate Industry WASHINGTON (August 6, 2020) -- The Urban Land Institute today announced the launch of its new online learning curriculum, Foundations of Real Estate (FoRE), a key part of the Institute's efforts to identify, diversify, and broaden the pool of young people interested in a real estate career. ULI is a global, multidisciplinary real estate organization whose work is driven by more than 45,000 members dedicated to responsible land use and building thriving communities. FoRE, which debuted at Colgate University during the 2019–2020 academic year, is designed to provide students not pursuing business studies with real estate fundamentals in an easily digestible format that is accessible, convenient, and that can be completed on an individually determined basis. The curriculum consists of five modules: Foundations of the Development Process; Foundations of Pro Forma Modeling; Foundations of Commercial Real Estate (with a specific focus on multifamily and office sector valuation); Foundations of Real Estate Finance and Investment; and Introduction to the Foundations of Real Estate. Upon completion of all the modules, participants receive a FoRE certificate confirming that they have finished the course successfully and have a basic understanding of the industry. The online curriculum can be accompanied by in-person training from real estate executives who are alumni of FoRE's higher education institution partners and are supplementing the program with their own content, knowledge, and industry experiences, which exemplifies the Institute's longstanding tradition of knowledge sharing "The goal of assembling this curriculum was to place interested and committed students in a position to learn enough so that when they enter the marketplace they can be competitive for an entry-level position, as opposed to starting from scratch. This benefits both the students and companies that hire them," said ULI global chief executive officer W. Edward Walter. "So often, the way people get into real estate is because one of their parents or relatives was in the business. FoRE gives us the opportunity to broaden the number and the diversity of people who might be interested in real estate and show them that it involves much more than merely selling properties, that they could pursue investment, development, or other aspects of the industry." FoRE was made possible with a generous gift to the ULI Foundation from Foundation Chairman Doug Abbey, who is also chairman of Swift Real Estate Partners in San Francisco. "The opportunity to create communities that are more diverse, equitable, and inclusive, through a real estate career, is a timely message and mission that can be delivered through FoRE," said Abbey. "ULI is committed to maximizing the role of philanthropy in affecting deep and meaningful change at a time in the Institute's and the country's history when issues like equitability and inclusiveness have emerged as necessary and game-changing concerns and considerations." The program is being expanded to additional colleges and universities in the United States during the 2020–2021 academic year; ULI hopes to have the FoRE curriculum available at 100 institutions within five years. An emphasis will be placed on offering the program at historically Black colleges and universities (HBCUs), including four in 2020–2021. This is one part of ULI's efforts to attract more people of color to the industry and the Institute. Read more about ULI's work on Diversity, Equity and Inclusion. The Urban Land Institute is a nonprofit education and research institute supported by its members. Its mission is to provide leadership in the responsible use of land and in creating and sustaining thriving communities worldwide. Established in 1936, the institute has more than 46,000 members worldwide representing all aspects of land use and development disciplines.
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ReferralExchange Selected to Join NAR's REALTOR Benefits Program
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COVID-19 Impacts Homebuyer Preferences But Not Budgets: Homes.com Survey
Over 40% Seek Different Features, 80% Have Same or Increased Price Range Norfolk, VA (July 29, 2020) -- The COVID-19 pandemic has changed many of the features desired by U.S. homebuyers and increased the dependence on virtual tours; however, it has had little impact on homebuying budgets, according to a Homes.com survey of over 1,000 consumers who have purchased a home during the coronavirus outbreak or plan to purchase before the end of the year. Fully 80% of survey respondents reported that their homebuying budgets had either remained the same or increased since the start of the pandemic, indicating that consumers remain committed to investing in homeownership despite possible anxiety over the challenging economic conditions caused by the pandemic. Overall, 35- to 44-year-olds were the most likely to report a decrease in their budgets, but the impact varied by geography. Most of the respondents who did lower their price targets in the Western states were Generation Z (18-24) buyers, while those in the Northeast were in the Millennial and Generation X age range (24-44). The survey also found that: Over 40% of respondents have changed the features they want in a home because of COVID-19, including adding a home office (30%), larger square footage (27%), enclosed backyard (27%) and/or closed floor plan (15%) to their wish list. These shifts may reflect the realities of today's work-from-home and e-learning needs. Over half of respondents planning to purchase a home before the end of the year have used virtual tours in their search, with roughly one-third having viewed 1-3 homes and one-fourth viewing 11+ homes through virtual tools. One-third of those who have purchased in the last four months utilized these live video tours or virtual open houses. More people indicated they were moving because they wanted a less populated area (16%) than moving for a job (14%), retirement (11%), or wanting a better school system for their children (8%). The most common reason for moving was the need to upsize for a growing family (25%). 37% of respondents have purchased in the last four months and 44% plan to purchase before the end of the year, demonstrating that homeownership remains a strong imperative even during the pandemic. 33% of those who have purchased or plan to purchase a home are aged 18-34, supporting earlier Homes.com surveys indicating that Gen Z is highly committed to early homeownership. Overall, the largest number of buyers or potential buyers (40%) are located in the South, with the rest split between the Midwest (25%), West (22%) and Northeast (13%). 51% are looking for existing single-family detached homes, followed by new construction single-family detached (20%), condominium (14%) and townhouse (11%). "The pandemic has changed what 'home' means for many families and how they search for them," said Homes.com president David Mele. "Even in the midst of those changes, our survey confirms that consumer commitment to homeownership remains the same." More information about the Homes.com 2020 Consumer Homebuyer survey can be found at https://go.homes/COVID19Buyers About Homes.com Homes.com offers today's demanding homebuyers, renters, and those somewhere in between a simply smarter home search with a more personalized and conversational way to find their next home. Since its launch over 25 years ago, Homes.com offers real estate professionals brand and property advertising, search engine marketing, and instant response lead generation to help them succeed online. For more information, visit Homes.com.
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