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Employee at Center of CoStar/Realtor.com Legal Conflict Put on Paid Leave

USA Real Estate News-RISMedia - Wed, 2024-07-24 15:29

In a court filing July 23, CoStar Group has asked a judge for an order for expedited discovery in its legal conflict with realtor.com parent Move, Inc. Included in the filing is that James Kaminsky, the CoStar employee formerly employed by Move, who Move claims improperly accessed proprietary information to be used by CoStar, has…

The post Employee at Center of CoStar/Realtor.com Legal Conflict Put on Paid Leave appeared first on RISMedia.

JPAR® – Real Estate Announces Enhanced Agent Revenue Model

USA Real Estate News-RISMedia - Wed, 2024-07-24 12:41

JPAR® – Real Estate announced a significant reduction in its cap fee model, effective immediately.  JPAR stated that the reduction in cap fees, from 23 to 16 sides—the lowest since 2016—is particularly beneficial for agents committed to their real estate careers, as it reduces agent transaction fees to less than $10,000 annually. This initiative provides…

The post JPAR® – Real Estate Announces Enhanced Agent Revenue Model appeared first on RISMedia.

Rent Prices Continue to Decrease, but Remain Elevated

USA Real Estate News-RISMedia - Wed, 2024-07-24 12:27

Rent prices continued to drop for the 11th straight month this June, according to the latest data from Realtor.com®. Despite continued decreases, however, rents remain elevated from the pre-pandemic levels of 2019. Realtor.com’s Rental Report for June found that overall rents decreased by 0.4% to $1,743—0.6% ($11) below the August 2022 peak. Breaking down the…

The post Rent Prices Continue to Decrease, but Remain Elevated appeared first on RISMedia.

Restb.ai: In most markets, floor plans reduce days on market

USA Real Estate News-Inman - Wed, 2024-07-24 11:32
Artificial intelligence software company Restb.ai has released a report on the effectiveness of floor plans on days on market.

Housing inventory is roaring back to life. So why aren’t new listings?

USA Real Estate News-Inman - Wed, 2024-07-24 11:27
Inventory is rising again, according to an analysis of housing data. But agents are still scrounging. Hundreds of brokers and agents shared what's working in the latest polling from Inman Intel.

Despite Drop in Rates, Mortgage Applications Decreased This Week

USA Real Estate News-RISMedia - Wed, 2024-07-24 11:21

Despite the most recent drop in average mortgage rates, mortgage applications decreased this week, down 2.2% from last week’s 3.9% uptick, according to the latest Weekly Applications Survey from the Mortgage Bankers Association (MBA) for the week ending July 19, 2024. This week’s data: The Market Composite Index, a measure of mortgage loan application volume,…

The post Despite Drop in Rates, Mortgage Applications Decreased This Week appeared first on RISMedia.

New-Home Sales Fall Below May Rate, as Fed Rate Cuts Loom

USA Real Estate News-RISMedia - Wed, 2024-07-24 11:21

Sales of single-family homes in June were 0.6% below the May rate of 621,000, reaching a seasonally adjusted rate of 617,000, according to data released by the U.S. Census Bureau and the Department of Housing and Urban Development. This is significantly below—7.4%, specifically—June 2023’s estimate of 666,000 new-home sales. Spencer Hakimian, founder of Tolou Capital…

The post New-Home Sales Fall Below May Rate, as Fed Rate Cuts Loom appeared first on RISMedia.

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