Homes sales during May marked the fourth consecutive month of increases, up 8.6% from April, according to data from RE/MAX. However, May sales were also 3.5% lower year-over-year. Across the 52 metro areas surveyed for RE/MAX’s report, the number of homes for sale...
The Northern California estate that was once the home of the legendary singer and actor Bing Crosby was sold for $25 million, down considerably from its original asking price of $40 million. According to combined media reports, the French chateau-style residence in...
Manhattan’s rental housing market set new records in May with rents averaging $4,571, up 1.6% month-over-month and up 7.6% year-over-year, according to data from the brokerage Douglas Elliman Inc. (NYSE: DOUG). May was the third time in the past four months when...
Builder sentiment sank this month to its lowest reading since December 2022 and its third lowest since 2012. According to the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI), builder confidence in the market for newly built...
Mortgage applications for new home purchases in May was down by 4.5% compared to one year ago, according to data from the Mortgage Bankers Association (MBA). On a month-over-month basis, applications decreased by 9%. MBA estimated that new single-family home sales...
Real estate investor Boruch “Barry” Drillman was sentenced to five years of probation for his role in a $165 million fraud scheme involving multifamily and commercial mortgage loans between 2018 and 2020. Drillman managed BRC Williamsburg Holdings LLC,...
AI Is Getting a Bigger Role in Home Valuations. Borrowers Need a Better Way…
