Settlement services, and the end-to-end transaction dream, increasingly have become focuses for real estate brokerage companies. Companies like Rocket will continue to be formidable competitors for that business.
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In addition to the articles, here are a few items we are reading from across the internet.
Settlement services, and the end-to-end transaction dream, increasingly have become focuses for real estate brokerage companies. Companies like Rocket will continue to be formidable competitors for that business.
The jump in median list price reveals yet again the confidence sellers feel in the current real estate market, where inventory remains constrained. The residential real estate market remains strong despite the pandemic.
With billions in lost revenue, subsequent layoffs and a growing number of bankruptcies, almost no industry has gone unscathed, with hospitality, restaurants, airlines, movies, sports and retail among the worst hit. The pandemic has impacted all segments of the population with the elderly, those living in people poverty and people with disabilities most impacted. Sadly, the number of infections in various areas have begun to spike again making the road to recovery long and arduous.
Zillow Group, one of the industry’s largest employers, reveals how the pandemic may leave a lasting impact on the reduction of office space. We believe many real estate companies are revisiting their leases and will decrease their office footprints in the coming months and years.
The canceled sale appears to have had no negative impact on the Cartus business and, for most of its real estate partners, it remains business as normal. Realogy has confirmed that relocation continues as a key part of its business model.
The market continues to favor sellers as inventory remains low in many areas. Buyers must increasingly take more aggressive measures to get the homes they want to purchase. Of course, this demand also translates into a steady rise in home prices.
Many elements of the residential real estate industry are experiencing an influx of capital from investors and entrepreneurs attempting to improve the real estate transaction. In this instance, Hippo allows homeowners to get a quote and obtain home insurance online in 60 seconds or less, claiming to save buyers up to 25 percent compared to traditional insurers.
The article shares some other real estate-related activities. As the newly selected vice-presidential nominee on the Democratic presidential Biden-Harris ticket, we will learn much more about her positions on real estate and Realtor-related issues. Harris is the nation’s first Black female vice-presidential candidate.
Cloud-based brokerage eXp Realty continues to show impressive growth; it recently surpassed 32,000 agents in its four-country footprint. The stock price recently surged on record second quarter earnings, pushing the company’s market cap above $2 billion. It is now among the nation’s most valuable real estate companies; by comparison, other publicly held real estate companies had the following market caps in mid-August: Realogy $1.2 billion. Re/MAX $0.7 billion and Redfin $4.3 billion.
Extremely low housing inventory, and a new set of buyer wants, are contributing to a hot real estate market.
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