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Many of the nation's largest brokerages are named in the lawsuit, including Royal LePage, Century 21, Sutton Group Realty, Remax, IproRealty Ltd., as well as the Canadian Real Estate Association (CREA) and the Toronto Regional Real Estate Board (TRREB).
Last month, closed sales of existing single-family homes statewide totaled 22,917, down 7.9% from August 2022, while existing condo-townhouse sales totaled 9,279, down 7.2% from the same time a year ago
Not only did the TARCC stay much cooler than the white paint and steel tiles in hot summer temperatures, it was also the only material that could switch between heating and cooling states as outdoor temperatures fluctuated throughout the day in spring and autumn.
In August 2023, statewide home sales (including single-family homes and condominiums) of 13,469 homes sold was 14 percent lower than 15,658 sold in August 2022. Also, the monthly median price of $280,000 in August 2023 was 7.7 percent higher than it was the year before at $260,000.
Consumer inflation has dropped from a year-over-year peak of 9.1% in June 2022 to 3.7%. Yet it’s still well above the Fed’s 2% target, and its policymakers made clear Wednesday that they aren’t close to declaring victory over the worst bout of inflation in 40 years. The Fed’s latest decision left its benchmark rate at about 5.4%, the result of 11 rate hikes it unleashed beginning in March 2022.
August’s sales pace was down 5.3 percent on a monthly basis from a revised 268,940 in July and down 18.9 percent from a year ago, when a revised 314,270 homes were sold on an annualized basis. Sales of existing single-family homes in California remained below the 300,000-unit pace for the 11th month in a row. The monthly decline was the third consecutive decrease, and the annual decline was the 26th straight drop.
RE/MAX, one of several large brokerages named in the suits, known as the Sitzer/Burnett and Moehrl cases, agreed to pay $55 million to resolve all claims against the company. The news comes two weeks after another defendant, Anywhere Real Estate, formerly known as Realogy Holdings Corp., settled for $83.5 million.
The current real estate market's high home prices and mortgage rates, as well as limited inventory, are the top reasons that Realtors® and prospective home buyers across races and ethnicities cite as barriers to purchasing a home.
Empty big-box retail stores and vacant anchor stores in defunct malls are being revitalized and turned into indoor pickleball courts, leading to a “pickleball gold rush” in commercial real estate.
Nationwide one in every 4,113 housing units had a foreclosure filing in August 2023. States with the highest foreclosure rates were Nevada (one in every 2,224 housing units with a foreclosure filing); Illinois (one in every 2,433 housing units); South Carolina (one in every 2,506 housing units); New Jersey (one in every 2,585 housing units); and Delaware (one in every 2,618 housing units).
The Quarterly Risk Report highlights issues that pose risk to associations and provides resources to help associations build knowledge, incorporate best practices, and avoid claims.
The winners of the Royal Observatory Greenwich’s Astronomy Photographer of the Year 2023 have been announced, giving us all a glimpse into the stunning natural beauty of space and making some important astronomical discoveries in the process.
Buying a new phone will likely have you thinking about two types of features: On one hand are the details that people around you will notice, such as new design or color. On the other is the stuff that you, the user, will notice.
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The 10-city and 20-city composite indexes also pivoted in July, posting their first increase in five months, up by 0.9% and 0.1% respectively. The 20-city index remains relatively weaker, as smaller metros are more sensitive to affordability challenges (Figure 1).
With their ability to capture imaginations and evoke emotions, photos can tell us stories about nature that words alone can’t convey. The winning entries in the Nature TTL Photographer of the Year 2023 competition prove that, as far as nature is concerned, a picture is worth a thousand words.
Here are the 50 most expensive cars currently being built by the likes of Ferrari, Rolls-Royce, Hennessey, Koenigsegg and, of course, Bugatti. Sure, you’ll need to splash out to get one, but chances are you won’t mind once you get behind the wheel.
Total existing-home sales1 – completed transactions that include single-family homes, townhomes, condominiums and co-ops – slid 0.7% from July to a seasonally adjusted annual rate of 4.04 million in August. Year-over-year, sales fell 15.3% (down from 4.77 million in August 2022).
The California median home price is forecast to rise 6.2 percent to $860,300 in 2024, following a projected 1.5 percent dip to $810,000 in 2023 from $822,300 in 2022. A persistent housing shortage and a competitive housing market will continue to put upward pressure on home prices next year.
“As we move toward 2024, I expect us to continue to be a leader within the state and nationally,” said Silver, partner and senior broker with Corcoran Urban Real Estate in Chicago. “I have no doubt that we will perform at the highest and most cohesive levels.”
The country’s most expensive listing, a penthouse in Manhattan, may have received a massive 22 percent price reduction, but San Francisco recently had its priciest deal of the year go down when buyers snapped up a $34.5 million estate in Presidio Heights.
Following a September 12 hearing, a Los Angeles County Superior Court judge granted the organization’s petition for writ of mandate, finding that Beverly Hills had not complied with its legal duty to plan for housing under the regional housing needs allocation (RHNA) and housing element system.
Real estate agents are deemed independent contractors under the Internal Revenue Code for federal tax purposes, but that status hasn’t been consistently applied to all statutes, specifically within the Fair Labor Standards Act. A new bill on Capitol Hill aims to change that.
The report shows that New Jersey and Illinois have the highest concentrations of the most-at-risk markets in the country, with the biggest clusters in the New York City, Chicago and Philadelphia areas. The South, along with other parts of the Northeast, are generally less exposed to market woes.
The MOT (Module of Temporality) offers an interesting take on shipping container-based design. The project cleverly plays to the strengths of the metal boxes by creating a temporary art gallery that can be packed up and moved to a new location when required.
“With these two recent acquisitions, we have assembled an incredible portfolio of independently run companies and products in the mortgage software space including the Empower LOS, Optimal Blue, NOVA LOS, Reverse Vision, and Axacore,” said Tom George, Co-President of the Romulus Group of Perseus, who led the acquisitions with Bonnie Wilhelm, COO of Perseus. “We are excited to be able to work with all our groups to invest and grow both organically and through additional acquisitions.”
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Scoop.it!
