With a 6% interest rate, homebuyers have fewer options to buy a home in all 50 of the most populous US metros. Surge in Mortgage Rates Has Narrowed Homebuyers’ Options A homebuyer on a $2,500 budget can afford to buy a home priced at $399,750 with a 6% mortgage. Just six months ago, that same […]
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A new report, “The State of the Nation’s Housing in 2022,” from Harvard’s Joint Center for Housing Studies (JCHS), takes a deep dive into the economic factors affecting today’s homebuying and renting landscapes. Two Key Factors Contributing to Industry’s “Inflection Point” Housing itself has a strong outlook – rising prices are a windfall for existing […]
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eXp is firing on all cylinders. The realty has a cost effective business model advantage, is making strategic acquisitions, expanding its industry services and expanding its metaverse offerings. eXp’s Operating Expenses/Transaction More Efficient than Competitors Comparatively, eXp Realty’s business model is more cost effective and efficient than its brokerages peers, according to real estate tech wizard, […]
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Today’s real estate training and coaching show is all about creating a daily success schedule for real estate agents. Realtors modify this schedule to fit personal needs but don’t leave out any of the key activities. For example: if you have to get kids to school by 7:30am, either work out while they’re still asleep or […]
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eXp Realty‘s cost structure is “exponentially more efficient” than its competitors, according to real estate tech wizard Mike delPrete. Comparative Operating Expenses/Transaction in Q1 2022 Take a look at these comparative operating expenses per each transaction among five different real estate brokerage firms during Q1 2022: eXp Realty – $691/transaction Realogy – $7,958/transaction Redfin – […]
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The rapid rise in mortgage rates translates into home buyers needing to pay more for their home loans compared to just eight months ago. From 3% to 6% The jump in mortgage rates from 3 to 6% on a standard 30-year fixed-rate mortgage means that, assuming a 20% down payment, the lifetime cost of that […]
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Existing home sales dropped -3.4% m/m and -8.6% y/y during May. Existing Home Sales on Downward Trajectory According to the National Association of REALTORS® (NAR), existing home sales fell for the fourth consecutive month to an annual rate of 5.41M. This seasonally-adjusted annual rate of declining existing home sales in May represented a drop of […]
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A new report shows that housing costs, spurred by soaring home prices and rising mortgage rates, were more expensive than rental costs in April. Demand Shifting from Owning to Renting The single-family rental sector is definitely having “a moment” amid soaring home prices and fast-rising mortgage rates. More and more prospective buyers, many priced out […]
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Rising interest rates are hitting Canada’s largest city, Toronto. Greater Toronto Area One of Most Expensive Markets in Canada According to Brendan Powell, the broker of record for the BREL Team/Bspoke Realty, “If somebody comes to us with a million-dollar budget for a detached house, it is very hard to find them something.” The high […]
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A growing niche in the short-term rental market is booking rooms by the hour in homes and apartments as studio sets and/or stages. Shorter-Term Rental Opportunities Do you and/or your clients have a space in your private residence that might be used as an alternative set or stage for a photo shoot, music video or […]
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