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<?xml version="1.0" encoding="UTF-8"?><rss version="2.0" xmlns:content="http://purl.org/rss/1.0/modules/content/" xmlns:wfw="http://wellformedweb.org/CommentAPI/" xmlns:dc="http://purl.org/dc/elements/1.1/" xmlns:atom="http://www.w3.org/2005/Atom" xmlns:sy="http://purl.org/rss/1.0/modules/syndication/" xmlns:slash="http://purl.org/rss/1.0/modules/slash/" xmlns:media="http://search.yahoo.com/mrss/"> <channel> <title>HousingWire</title> <atom:link href="https://www.housingwire.com/feed/" rel="self" type="application/rss+xml" /> <link></link> <description>HousingWire is the nation's most influential source of news and information on housing and mortgage lending.</description> <lastBuildDate>Thu, 08 May 2025 23:07:32 +0000</lastBuildDate> <language>en-US</language> <sy:updatePeriod> hourly </sy:updatePeriod> <sy:updateFrequency> 1 </sy:updateFrequency> <generator>https://wordpress.org/?v=6.7.2</generator> <image> <url>https://www.housingwire.com/wp-content/uploads/2023/10/cropped-favicon-bg.png?w=32</url> <title>HousingWire</title> <link></link> <width>32</width> <height>32</height></image> <site xmlns="com-wordpress:feed-additions:1">165477913</site> <item> <title>Robert Reffkin on Compass’s pre-marketing strategy: What’s the downside?</title> <link>https://www.housingwire.com/articles/compass-q1-2025-earnings-robert-reffkin-clear-cooperation/</link> <comments>https://www.housingwire.com/articles/compass-q1-2025-earnings-robert-reffkin-clear-cooperation/#respond</comments> <dc:creator><![CDATA[Jeff Andrews]]></dc:creator> <pubDate>Thu, 08 May 2025 23:07:30 +0000</pubDate> <category><![CDATA[Brokerage]]></category> <category><![CDATA[Real Estate]]></category> <category><![CDATA[Clear Cooperation]]></category> <category><![CDATA[Compass]]></category> <category><![CDATA[Earnings]]></category> <category><![CDATA[HWmember]]></category> <category><![CDATA[Robert Reffkin]]></category> <guid isPermaLink="false">https://www.housingwire.com/?p=519697</guid> <description><![CDATA[Compass's market share has peaked, rising from 4.47% a year ago to 6% at the end of March, while its principal agent count jumped to 20,656.]]></description> <content:encoded><![CDATA[<p>The heated debate around the <a href="https://www.housingwire.com/tag/clear-cooperation/">Clear Cooperation Policy</a> (CCP) has roiled the real estate brokerage space as a result of fierce pushback on the rule from <strong><a href="https://www.housingwire.com/tag/compass/">Compass</a></strong>. </p> <p>But company CEO <a href="https://www.housingwire.com/tag/robert-reffkin/">Robert Reffkin</a> has a question amid what he characterized as “negative narratives and scare tactics.” What’s the downside for a home seller of Compass’s <a href="https://www.housingwire.com/articles/compass-coming-soon-listings-agents-ccp/">“three-phase marketing”</a> strategy?</p> <p>On Compass’s first-quarter 2025 earnings call on Thursday, Reffkin opened by doubling down on the company’s opposition to CCP. He reiterated his belief that sellers deserve to have a choice in how their property is marketed. And he answered his own proverbial question.</p> <p>“There is no downside,” he said. “The worst thing that happens is a homeowner gets an offer, and they have an opportunity to turn it down and go to the public sites with the benefit of price discovery from pre-marketing. That’s the downside, which means there is no downside.”<br><br>CCP is a rule from the <strong><a href="https://www.housingwire.com/tag/national-association-of-realtors/">National Association of Realtors</a></strong> (NAR) that requires Realtors to place a listing on a NAR-affiliated multiple listing service (<a href="https://www.housingwire.com/tag/mls/">MLS</a>) within 24 hours of the property being marketed elsewhere.</p> </script><noscript><img decoding="async" src="https://public.flourish.studio/visualisation/23079922/thumbnail" width="100%" alt="chart visualization" /></noscript> <p>This process serves as an obstacle to Compass’s mission to build an inventory of exclusive listings, as it forces listing agents to choose between Compass’s website and the MLS. And with <strong><a href="https://www.housingwire.com/articles/zillow-earnings-q1-2025-jeremy-wacksman-listing-transparency-app-traffic/">Zillow</a></strong> adopting its own <a href="https://www.housingwire.com/articles/zillows-pre-emptive-strike-on-private-listings/">version of CCP,</a> choosing against the MLS also means choosing against Zillow.</p> <p>The drama around CCP hasn’t prevented Compass from growing. The company’s market share hit an all-time high, rising from 4.47% a year ago to 6% of all home sales in Q1 2025. Its principal agent count jumped to 20,656 at the end of March, a 41.6% annual increase.</p> <p>That increase is primarily driven by the company’s <a href="https://www.housingwire.com/articles/compass-to-acquire-christies-international-real-estate-properties/">acquisition</a> of <strong>Christie’s International Real Estate</strong> and <strong>@properties</strong> in December, in which Compass paid with $150 million in cash and roughly 44 million shares of its stock.</p> <p>Revenue rose from $1.1 billion in Q1 2024 to $1.4 billion in Q1 2025. Operating cash flow was positive for the fifth quarter in a row, hitting $23 million. Still, the company suffered a net loss of $51 million, although that’s down considerably from the $132 million loss in the same quarter last year.</p> </script><noscript><img decoding="async" src="https://public.flourish.studio/visualisation/21698156/thumbnail" width="100%" alt="chart visualization" /></noscript> <p>Reffkin acknowledged on the call that economic headwinds are impacting the housing market. The threats of tariffs from President Donald Trump in March — and the actual tariffs he <a href="https://www.housingwire.com/articles/trump-tariff-pause-china-125-percent/">implemented</a> in April — are affecting consumer behavior, although he believes that the market will be in line with 2024.</p> <p>While the real estate industry is pushing back on Reffkin’s assault on CCP, Compass’s three-phrase marketing plan is taking hold. The percentage of its listings that are <a href="https://www.housingwire.com/articles/how-compass-leverages-private-exclusive-listings-to-recruit-agents/">“Private Exclusives,”</a> which is the first stage, has steadily increased. </p> <p>These listings do not appear on Compass’s site, but if they’re not sold during that period, they enter the second stage called “Coming Soon,” which does place them on the site. In the third phase, the listing goes on the MLS and third-party sites.</p> </p>]]></content:encoded> <wfw:commentRss>https://www.housingwire.com/articles/compass-q1-2025-earnings-robert-reffkin-clear-cooperation/feed/</wfw:commentRss> <slash:comments>0</slash:comments> <post-id xmlns="com-wordpress:feed-additions:1">519697</post-id> </item> <item> <title>Rocket shifts focus to integration after Q1 growth in originations and M&A</title> <link>https://www.housingwire.com/articles/rocket-mortgage-q1-2025-earnings-originations-servicing-varun-krishna/</link> <comments>https://www.housingwire.com/articles/rocket-mortgage-q1-2025-earnings-originations-servicing-varun-krishna/#respond</comments> <dc:creator><![CDATA[Flávia Furlan Nunes]]></dc:creator> <pubDate>Thu, 08 May 2025 22:47:05 +0000</pubDate> <category><![CDATA[LendingLife]]></category> <category><![CDATA[Mortgage]]></category> <category><![CDATA[Origination]]></category> <category><![CDATA[Earnings]]></category> <category><![CDATA[HWmember]]></category> <category><![CDATA[Mr. Cooper]]></category> <category><![CDATA[Redfin]]></category> <category><![CDATA[Rocket Companies]]></category> <category><![CDATA[Rocket Mortgage]]></category> <guid isPermaLink="false">https://www.housingwire.com/?p=519710</guid> <description><![CDATA[Lower rates helped Detroit-based Rocket Companies improve its originations in the first quarter of the year, a period also marked by the announcement of two major acquisitions, Redfin and Mr. Cooper. ]]></description> <content:encoded><![CDATA[<p>Lower rates helped Detroit-based <strong>Rocket Companies</strong>, the parent of <a href="https://www.housingwire.com/tag/rocket-mortgage/" target="_blank" rel="noreferrer noopener"><strong>Rocket Mortgage</strong></a>, improve its originations in the first quarter of the year — a period also marked by the announcement of two major acquisitions in <a href="https://www.housingwire.com/company/redfin/" target="_blank" rel="noreferrer noopener"><strong>Redfin</strong></a> and <a href="https://www.housingwire.com/company-profile/mr-cooper%EF%BF%BC/" target="_blank" rel="noreferrer noopener"><strong>Mr. Cooper</strong></a>. </p> <p>But the second quarter is expected to look different. While the macroeconomic landscape made mortgage production more challenging in April, the company will now shift its focus from closing deals to integration.</p> <h2 class="wp-block-heading" id="h-battling-through-headwinds">Battling through headwinds</h2> <p>“Let’s start with the housing market, which kicked off on a positive note to start the year,” <a href="https://www.housingwire.com/articles/rocket-ceo-talks-new-ai-tool-changes-in-leadership-and-mas/">Varun Krishna</a>, CEO and director of Rocket Companies, said during a call with analysts. </p> <p><a href="https://www.housingwire.com/tag/housing-inventory/">Housing inventory</a> improved, reaching four months of supply, and the 30-year fixed mortgage rate declined from 7% in January to 6.6% in March. That briefly improved affordability and sparked some <a href="https://www.housingwire.com/tag/refinancing/">refinance</a> activity, he added. </p> <p>Krishna mentioned Redfin data showing that one in four Americans are <a href="https://www.housingwire.com/articles/redfin-housing-market-cools-as-economy-tariffs-weigh-on-buyers/">cancelling plans for major purchases, including homes</a>. Purchase applications — which typically increase between March and April — <a href="https://www.housingwire.com/articles/mortgage-applications-continue-to-slump/">fell sharply</a> week over week throughout April, a trend the industry hasn’t seen since the Great Recession of 2009.</p> <p>In this context, Rocket originated $21.5 billion in mortgages in the first quarter, up from $20.2 billion in the same period last year but down from $27.8 billion in the fourth quarter of 2024. Net rate lock volume reached $26 billion, an increase of 17% year over year and 11% quarter over quarter. </p> <p>Chief financial officer Brian Brown told analysts the increase was “driven by growth in refinancing and continued momentum in <a href="https://www.housingwire.com/tag/home-equity/">home equity</a> loan offering, which posted yet another record quarter.” </p> <p>Rocket’s direct-to-consumer channel remained the primary driver, generating $11.3 billion in volume during the period, compared to $9.2 billion from its third-party originator (TPO) channel. The company experienced some competitive pricing dynamics in the TPO channel during the first quarter.</p> <p>As a result, gain-on-sale margins for Q1 2025 were 289 basis points, down from 311 bps in the previous quarter. This decline was driven by a margin of 465 bps in the direct-to-consumer channel and 139 bps in the TPO channel. </p> <h2 class="wp-block-heading" id="h-rebound-on-the-horizon">Rebound on the horizon?</h2> <p>Overall, Rocket reported a GAAP net loss of $212 million from January to March, compared to a $291 million profit in the same period last year, per filings with the <a href="https://www.housingwire.com/tag/securities-and-exchange-commission/"><strong>Securities and Exchange Commission</strong></a><strong> </strong>(SEC). Adjusted earnings, which excludes non-cash expenses and one-time charges, totaled $80 million in Q1 2025, down slightly from $84 million in Q1 2024.</p> <p>Brown told analysts that Rocket remained focused on driving growth and profitability while balancing deliberate investments with disciplined expense management — particularly important in what is typically a seasonally low quarter.</p> <p>In his prepared remarks, Krishna highlighted the company’s $1.3 billion in adjusted revenue. That was “at the high end of our guidance” for the quarter, compared to $1.1 billion a year earlier. Expenses rose to $1.2 billion in Q1 2025, up from $1 billion in the same period last year.</p> <p>Looking ahead, Rocket expects adjusted revenue of $1.175 billion to $1.325 billion in the second quarter, reflecting a difficult April in terms of margins and volume. But there is the potential for a rebound in May and June.</p> <p>The company is leveraging <a href="https://www.housingwire.com/tag/technology/">technology</a> to better navigate mortgage market cycles. Brown noted that Rocket can support $150 billion in origination volume without adding a single dollar in fixed costs. </p> <p>Additionally, Krishna said the company served 21% more origination clients in March 2025 compared to March 2024. It reduced turn times by 14%, which he described as “AI in action.”</p> <h2 class="wp-block-heading" id="h-redfin-mr-cooper-integrations">Redfin, Mr. Cooper integrations</h2> <p>Krishna said the company will now prioritize the integration of <a href="https://www.housingwire.com/articles/rocket-companies-announces-deal-to-acquire-redfin-for-1-75-billion/" target="_blank" rel="noreferrer noopener">Redfin </a>and <a href="https://www.housingwire.com/articles/rocket-companies-to-acquire-mr-cooper-in-bombshell-9-4b-deal/" target="_blank" rel="noreferrer noopener">Mr. Cooper</a>, despite having $8.1 billion in liquidity, including $1.4 billion in cash, on the balance sheet.</p> <p>“These acquisitions are fundamentally about three things: strengthening our business model, fueling our platform with data and ecosystem partners to power Rocket AI, and building an elevated client experience,” Krishna said. </p> <p>“Integration is a top priority for our leadership team right now. Over the past several weeks, we’ve been working closely with leaders at Redfin and Mr. Cooper.” </p> <p>When asked about Mr. Cooper <a href="https://www.housingwire.com/articles/mr-cooper-rocket-mortgage-uwm-subservicing-contracts/">potentially losing subservicing clients</a> due to the Rocket deal, the company said it remains enthusiastic about the business, fully supports it and intends to honor all contractual provisions. </p> <p>Competitor <strong><a href="https://www.housingwire.com/tag/united-wholesale-mortgage/">United Wholesale Mortgage</a></strong> (UWM) has already <a href="https://www.housingwire.com/articles/uwm-brings-mortgage-servicing-in-house-partners-with-ice/">dropped</a> Mr. Cooper as a subservicer.<br><br>Rocket’s <a href="https://finance.yahoo.com/quote/RKT/" target="_blank" rel="noreferrer noopener">stock</a> was down roughly 1.2% in after-market hours on Thursday, trading near $11.50.</p> <h2 class="wp-block-heading" id="h-"></h2></p>]]></content:encoded> <wfw:commentRss>https://www.housingwire.com/articles/rocket-mortgage-q1-2025-earnings-originations-servicing-varun-krishna/feed/</wfw:commentRss> <slash:comments>0</slash:comments> <post-id xmlns="com-wordpress:feed-additions:1">519710</post-id> </item> <item> <title>Longbridge endures Q1 loss, but leaders tout ‘positive contributions’</title> <link>https://www.housingwire.com/articles/longbridge-endures-q1-loss-but-leaders-tout-positive-contributions/</link> <comments>https://www.housingwire.com/articles/longbridge-endures-q1-loss-but-leaders-tout-positive-contributions/#respond</comments> <dc:creator><![CDATA[Chris Clow]]></dc:creator> <pubDate>Thu, 08 May 2025 22:32:51 +0000</pubDate> <category><![CDATA[Mortgage]]></category> <category><![CDATA[Reverse]]></category> <category><![CDATA[Ellington Financial]]></category> <category><![CDATA[Longbridge Financial]]></category> <guid isPermaLink="false">https://www.housingwire.com/?p=519696</guid> <description><![CDATA[Longbridge recorded a loss in Q1 but its parent company still remains bullish on its overall contributions to profitability.]]></description> <content:encoded><![CDATA[<p>Despite a slowdown in overall Home Equity Conversion Mortgage (<a href="https://www.housingwire.com/tag/hecm/" target="_blank" rel="noreferrer noopener">HECM</a>) volume in the first quarter of 2025, <a href="https://www.housingwire.com/company/longbridge-financial/" target="_blank" rel="noreferrer noopener"><strong>Longbridge Financial</strong></a> contributed positively to parent company <a href="https://www.housingwire.com/tag/ellington-financial/" target="_blank" rel="noreferrer noopener"><strong>Ellington Financial</strong></a>.</p> <p></p> <p>Overall performance at Ellington saw $31.6 million in net income to common stockholders, up from $22.4 million the prior quarter. Longbridge posted a net loss of $1 million for the quarter.</p> <p>However, reverse mortgage originator and servicer Longbridge “more than covered its proportional share” of adjusted distributable earnings (ADE) in the quarter, Ellington CEO Laurence Penn said on the earnings call. That’s despite what he called “lower seasonal origination volumes for HECM.”</p> <p>Still, lower interest rates during the quarter, losses on interest rate hedges “led to slightly negative GAAP net income overall for the quarter at our Longbridge segment,” he added.</p> <p>Despite lower volume on the HECM side of the business, the company continues to maintain stable performance with its portfolio of proprietary reverse mortgage loans sold under the “Platinum” brand, Penn said.</p> <p>These volumes were “stable and their origination margins actually improved, providing further evidence of the growing demand for our prop reverse product,” he said. “In fact, in April, loan submissions in prop were considerably higher year-over-year.”</p> <p>Ellington CFO J.R. Herlihy framed Longbridge’s performance similarly, saying that Longbridge “had positive contributions from both servicing driven by a net gain on the [HECM-backed Securities (<a href="https://www.housingwire.com/tag/hmbs/" target="_blank" rel="noreferrer noopener">HMBS</a>) mortgage servicing rights (MSR)] and from originations driven by higher origination margins for prop reverse, and steady margins for HECM despite seasonally lower origination volumes in HECM quarter-over-quarter.”</p> <p>The Longbridge portfolio increased by 31% sequentially to $549 million, which Herlihy said was driven “by proprietary reverse mortgage loan originations.”</p> <p>In terms of total originations, Herlihy said that the company “originated $420 million combined in HECM and prop in Q4 [2024], down to $340 million in Q1,” which he said is largely seasonally-driven. Margins held up during the quarter, and the spring selling season appears to look good on the company’s proprietary side, he said.</p> <p>While the company did not announce any reverse securitization deals in Q1, Penn added that they expect one could be announced “soon.” The company last <a href="https://www.housingwire.com/articles/longbridge-parent-ellington-financial-243m-reverse-mortgage-securitization/" target="_blank" rel="noreferrer noopener">announced such a deal in December</a>.</p> <p>Some looming questions from last quarter’s earnings calls were not addressed. Penn in February spoke about “some other products for seniors that may not technically be reverse mortgages but have a lot of similar characteristics.”</p> <p>“I don’t want to give away too much, but [there are] a lot of ways with the relationships we have with the compliance program that is, I would say, unique to the reverse mortgage originators that have to do so much more when dealing with seniors, for example.”</p> <p>However, Longbridge did recently announce the “<a href="https://www.housingwire.com/articles/longbridge-financial-new-proprietary-reverse-mortgage-option-platinum-peak/" target="_blank" rel="noreferrer noopener">Platinum Peak</a>” product suite, which aims to offer higher available loan-to-value (LTV) ratios designed to translate into higher loan proceeds for borrowers. Peak also updates seasoning requirements for Platinum-to-Platinum or proprietary-to-Platinum transactions to 24 months, from one closing date to the next.</p> <p>Peak could also potentially help company partners to reconnect with clients who had previously been short to close, according to Melissa Macerato, chief revenue and marketing officer in <a href="https://www.housingwire.com/articles/longbridge-financial-melissa-macerato-reverse-mortgage-proprietary-product/">an interview</a> last month.</p> <p>“Internally, we found that there were over $500 million of loans that were short to close in our wholesale and retail divisions,” she said at the time. “We are helping our wholesale partners and loan officers to look at their lead pipelines and evaluate the opportunity to go back and help borrowers who they weren’t previously able to help. And we are working with our partners to help identify loans in the pipeline that could benefit from the new product.”</p> </p>]]></content:encoded> <wfw:commentRss>https://www.housingwire.com/articles/longbridge-endures-q1-loss-but-leaders-tout-positive-contributions/feed/</wfw:commentRss> <slash:comments>0</slash:comments> <post-id xmlns="com-wordpress:feed-additions:1">519696</post-id> </item> <item> <title>Frederick Warburg Peters joins Brown Harris Stevens</title> <link>https://www.housingwire.com/articles/frederick-warburg-peters-joins-brown-harris-stevens/</link> <comments>https://www.housingwire.com/articles/frederick-warburg-peters-joins-brown-harris-stevens/#respond</comments> <dc:creator><![CDATA[Brooklee Han]]></dc:creator> <pubDate>Thu, 08 May 2025 22:19:04 +0000</pubDate> <category><![CDATA[People Movers]]></category> <category><![CDATA[Real Estate]]></category> <category><![CDATA[Coldwell Banker]]></category> <category><![CDATA[HWmember]]></category> <category><![CDATA[New York]]></category> <category><![CDATA[New York City]]></category> <guid isPermaLink="false">https://www.housingwire.com/?p=519681</guid> <description><![CDATA[Real estate industry veteran and founder of Warburg Realty is joining Brown Harris Stevens. Warburg Realty sold to Coldwell Banker in 2021.]]></description> <content:encoded><![CDATA[<p>The founder of <strong>Warburg Realty </strong>Frederick Warburg Peters is joining <strong><a href="https://events.housingwire.com/the-gathering-by-housingwire/page/4035826/attending-companies" target="_blank" rel="noreferrer noopener">Brown Harris Stevens</a></strong>. The <a href="https://www.housingwire.com/tag/new-york-city/">New Y</a><a href="https://www.housingwire.com/tag/new-york-city/" target="_blank" rel="noreferrer noopener">o</a><a href="https://www.housingwire.com/tag/new-york-city/">rk</a>-based firm announced Peters’ move on Thursday. </p> <p>Peters founded Warburg Realty in 1991 before selling it to <strong><a href="https://www.housingwire.com/tag/coldwell-banker/" target="_blank" rel="noreferrer noopener">Coldwell Banker </a></strong>in<a href="https://www.housingwire.com/podcast/manhattan-merger-mystery-a-conversation-with-frederick-peters/" target="_blank" rel="noreferrer noopener"> 2021.</a> </p> <figure class="alignright size-full is-resized"><img fetchpriority="high" decoding="async" width="400" height="400" data-attachment-id="519713" data-permalink="https://www.housingwire.com/articles/frederick-warburg-peters-joins-brown-harris-stevens/frederickwarburgpeters/" data-orig-file="https://www.housingwire.com/wp-content/uploads/2025/05/frederickwarburgpeters.jpg" data-orig-size="400,400" data-comments-opened="1" data-image-meta="{"aperture":"2.8","credit":"","camera":"Canon EOS R5","caption":"","created_timestamp":"1677705976","copyright":"","focal_length":"85","iso":"400","shutter_speed":"0.008","title":"","orientation":"1"}" data-image-title="frederickwarburgpeters" data-image-description="" data-image-caption="" data-medium-file="https://www.housingwire.com/wp-content/uploads/2025/05/frederickwarburgpeters.jpg?w=300" data-large-file="https://www.housingwire.com/wp-content/uploads/2025/05/frederickwarburgpeters.jpg?w=400" src="https://www.housingwire.com/wp-content/uploads/2025/05/frederickwarburgpeters.jpg" alt="frederickwarburgpeters" class="wp-image-519713" style="object-fit:cover;width:200px;height:200px" srcset="https://www.housingwire.com/wp-content/uploads/2025/05/frederickwarburgpeters.jpg 400w, https://www.housingwire.com/wp-content/uploads/2025/05/frederickwarburgpeters.jpg?resize=150,150 150w, https://www.housingwire.com/wp-content/uploads/2025/05/frederickwarburgpeters.jpg?resize=300,300 300w" sizes="(max-width: 400px) 100vw, 400px" /><figcaption class="wp-element-caption">Frederick Warburg Peters</figcaption></figure> <p>“The choice of Brown Harris Stevens was an easy one for me,” Peters said in a statement. “Hall Willkie has been a peer and a good friend for decades, and <a href="https://events.housingwire.com/the-gathering-by-housingwire/page/3561208/speakers" target="_blank" rel="noreferrer noopener">Bess Freedman</a> has steered the company through the 21st century with great skill, modernizing the agent experience while maintaining the high standards of integrity and ethics for which BHS has always been known.”</p> <p>Throughout his career, which began in 1980, Peters has receive numerous awards from the Real Estate Board of New York (REBNY) including the Henry Forster Award for a lifetime of achievement and contribution to the residential industry, and tThe Eileen Spinola Award for Distinguished Service. Peters currently serves on the executive committee of REBNY’s board of governors. </p> <p>According to the announcement, Peters will be based out of Brown Harris Stevens’ flagship Park Avenue office.</p> </p>]]></content:encoded> <wfw:commentRss>https://www.housingwire.com/articles/frederick-warburg-peters-joins-brown-harris-stevens/feed/</wfw:commentRss> <slash:comments>0</slash:comments> <post-id xmlns="com-wordpress:feed-additions:1">519681</post-id> </item> <item> <title>NAR: Home prices are up in 83% of metros</title> <link>https://www.housingwire.com/articles/nar-home-prices-q1-2025-affordability/</link> <comments>https://www.housingwire.com/articles/nar-home-prices-q1-2025-affordability/#respond</comments> <dc:creator><![CDATA[Jonathan Delozier]]></dc:creator> <pubDate>Thu, 08 May 2025 21:46:43 +0000</pubDate> <category><![CDATA[Data & Visuals]]></category> <category><![CDATA[Housing Market]]></category> <category><![CDATA[Affordability]]></category> <category><![CDATA[California]]></category> <category><![CDATA[First-Time Homebuyers]]></category> <category><![CDATA[Home Prices]]></category> <category><![CDATA[Homebuyers]]></category> <category><![CDATA[HWmember]]></category> <category><![CDATA[National Association of Realtors]]></category> <guid isPermaLink="false">https://www.housingwire.com/?p=519677</guid> <description><![CDATA[According to the National Association of Realtors, 189 of 228 metro areas saw an uptick in the median price for a single-family home.]]></description> <content:encoded><![CDATA[<p>Home prices rose in more than 80% of U.S. metro areas in the first quarter of 2025 — even as <a href="https://www.housingwire.com/tag/affordability/">affordability</a> remained stretched and fewer markets posted double-digit gains.</p> <p>According to the <strong><a href="https://www.housingwire.com/company/national-association-of-realtors/">National Association of Realtors</a></strong> (NAR), 189 of 228 metro areas (83%) saw year-over-year increases in the median price for existing <a href="https://www.housingwire.com/tag/single-family-housing/">single-family homes</a>. That’s a slight decline from 89% in the fourth quarter of 2024.</p> <p>The national median price rose 3.4% from a year earlier to $402,300. In contrast, the previous quarter saw a 4.8% annualized increase.</p> <p>“Most metro markets continue to set new record highs for home prices,” NAR chief economist <a href="https://www.housingwire.com/tag/lawrence-yun/">Lawrence Yun</a> said in a statement. “In the first quarter, the Northeast performed best in both sales and price gains by percentage.”</p> <h2 class="wp-block-heading" id="h-northeast-leads-price-growth">Northeast leads price growth</h2> <p>The Northeast saw the strongest yearly price growth among U.S. regions at 10.3%, followed by the Midwest (+5.2%), West (+4.1%) and South (+1.3%).</p> <p>Despite accounting for nearly 45% of the nation’s existing-home sales, the South lagged in price growth and saw sales decline.</p> <p>Among all metro areas tracked, 11% recorded double-digit price increases, down from 14% in the previous quarter. And in the largest metro areas, the biggest annualized gains occurred in Syracuse, New York (+17.9%); Montgomery, Alabama (+16.1%); and Youngstown, Ohio (+13.6%).</p> </script><noscript><img decoding="async" src="https://public.flourish.studio/visualisation/23077103/thumbnail" width="100%" alt="chart visualization" /></noscript> <h2 class="wp-block-heading" id="h-california-stands-out-for-costs">California stands out for costs</h2> <p>Eight of the 10 most expensive metro areas were in <a href="https://www.housingwire.com/tag/california/">California</a>. The San Jose area remained the most expensive with a median price of more than $2 million. Other costly California metros included Anaheim, <a href="https://www.housingwire.com/tag/san-francisco/">San Francisco</a> and <a href="https://www.housingwire.com/tag/san-diego/">San Diego</a>.</p> <p>Beyond California, the metro areas of Honolulu, <a href="https://www.housingwire.com/tag/hawaii/">Hawaii</a>, and Naples, Florida, also ranked among the priciest markets.</p> <p>“Very expensive home prices partly reflect multiple years of home underproduction in those metro markets,” Yun said. “Another factor is the low homeownership rates in these areas, implying more unequal wealth distribution.”</p> <p>Home prices fell in 17% of markets, up from 11% in the prior quarter.</p> <p>Yun noted that some previously declining markets — including Boise, Idaho; <a href="https://www.housingwire.com/tag/las-vegas/">Las Vegas</a>; <a href="https://www.housingwire.com/tag/salt-lake-city/">Salt Lake City</a>; San Francisco; and <a href="https://www.housingwire.com/tag/seattle/">Seattle</a> — have started to rebound.</p> <p>Others, such as <a href="https://www.housingwire.com/tag/austin/">Austin</a>, <a href="https://www.housingwire.com/tag/san-antonio">San Antonio</a> and several <a href="https://www.housingwire.com/tag/florida">Florida</a> metros, may follow suit as job growth continues.</p> <h2 class="wp-block-heading" id="h-affordability-remains-a-concern">Affordability remains a concern</h2> <p>Affordability improved marginally but remains strained. The monthly <a href="https://www.housingwire.com/mortgage/">mortgage</a> payment on a median-priced home with a 20% down payment was $2,120 — up 4.1% from a year ago. </p> <p>That payment represented 24.4% of a family’s income, a slight improvement from the previous quarter.</p> <p><a href="https://www.housingwire.com/articles/ice-mortgage-monitor-may-2025-first-time-homebuyers-agency-lending/">First-time homebuyers</a> faced similar trends. The monthly cost of a starter home (assuming 10% down) was $2,079, also up 4.1% from a year earlier. These buyers typically spent 36.8% of their income on housing.</p> <p>To qualify for a 10% down payment mortgage, a family needed to earn at least $100,000 in nearly half of all markets. And only 3.1% of markets were affordable for households earning less than $50,000.</p> <p></p>]]></content:encoded> <wfw:commentRss>https://www.housingwire.com/articles/nar-home-prices-q1-2025-affordability/feed/</wfw:commentRss> <slash:comments>0</slash:comments> <post-id xmlns="com-wordpress:feed-additions:1">519677</post-id> </item> <item> <title>As economic concerns mount, home equity lending is viewed more favorably</title> <link>https://www.housingwire.com/articles/home-equity-lending-2025-consumer-survey-meridianlink/</link> <comments>https://www.housingwire.com/articles/home-equity-lending-2025-consumer-survey-meridianlink/#respond</comments> <dc:creator><![CDATA[Chris Clow]]></dc:creator> <pubDate>Thu, 08 May 2025 21:29:04 +0000</pubDate> <category><![CDATA[Mortgage]]></category> <category><![CDATA[Reverse]]></category> <category><![CDATA[Consumer confidence]]></category> <category><![CDATA[HECM]]></category> <category><![CDATA[HELOCs]]></category> <category><![CDATA[Home Equity]]></category> <category><![CDATA[HWmember]]></category> <guid isPermaLink="false">https://www.housingwire.com/?p=519684</guid> <description><![CDATA[A new survey from MeridianLink shows that consumers are warming to the idea of tapping their home equity due to economic volatility.]]></description> <content:encoded><![CDATA[<p>Nearly 30% of U.S. homeowners would consider tapping their <a href="https://www.housingwire.com/tag/home-equity/" target="_blank" rel="noreferrer noopener">home equity</a> via products like a home equity line of credit (<a href="https://www.housingwire.com/tag/heloc/" target="_blank" rel="noreferrer noopener">HELOC</a>) due to ongoing concerns about the economic climate, stemming from a <a href="https://www.housingwire.com/articles/the-fed-is-preparing-for-rate-cuts-but-waiting-for-job-losses/" target="_blank" rel="noreferrer noopener">rise in volatility and uncertainty</a> over the past three years.</p> <p>This comes from survey data collected by <strong><a href="https://www.housingwire.com/company-profile/meridianlink-2/">MeridianLink</a></strong>, a software vendor for the financial services and consumer reporting industries.</p> <p>The survey consisted of 1,500 homeowners and offers “a comparative view of how homeowner sentiment has shifted over time,” the company explained. For example, in 2022, 21% of respondents expressed willingness to tap home equity, which could indicate a growing acceptance for the practice today.</p> <p>Still, the rise in the potential use of home equity lending comes with caveats. Among the homeowners who described themselves as hesitant to tap their equity, 54% of them cited “affordability” of the practice as a chief concern. </p> <p>This was outpaced by high <a href="https://www.housingwire.com/mortgage-rates/" target="_blank" rel="noreferrer noopener">interest rates</a> (63%), risking their <a href="https://www.housingwire.com/tag/homeownership/" target="_blank" rel="noreferrer noopener">homeownership</a> status (22%) and uncertainty about terms of repayment (18%).</p> <p>“Homeowners recognize the potential of home equity lending, but many are still on the sidelines due to financial uncertainty and lack of education about their options,” JP Kelly, senior vice president of mortgage at MeridianLink, said in a prepared statement. </p> <p>Kelly also spoke about this topic on a <a href="https://www.housingwire.com/podcast/meridianlinks-jp-kelly-on-what-consumers-are-doing-with-home-equity/" target="_blank" rel="noreferrer noopener">recent episode</a> of the <strong>HousingWire</strong> Daily podcast.</p> <p>“This presents an opportunity for financial institutions to bridge the gap by simplifying the lending application process, improving education on home equity products and offering more competitive, flexible options,” he said.</p> <p>Interestingly, a top motivator for engaging with home equity lending is <a href="https://www.housingwire.com/tag/home-improvement/" target="_blank" rel="noreferrer noopener">home improvement</a>. Among self-labeled likely borrowers, this was a key reason listed by 45% of such respondents. Investing in new properties and debt consolidation followed at 16% each.</p> <p>A lender’s reputation was also listed as a key factor in the decision-making process, the survey found.</p> <p>“While interest rates remain important, 43% of homeowners cited trust and reputation as key factors in choosing a lender,” MeridianLink explained. “Borrowers are looking for institutions that not only offer competitive rates but also provide a seamless, transparent, and reliable lending experience.”</p> <p>These issues reflect the priorities and practices of other areas of the home equity lending ecosystem — including <a href="https://www.housingwire.com/articles/home-equity-investments/">home equity investment</a> (HEI) products and <a href="https://www.housingwire.com/tag/hecm/" target="_blank" rel="noreferrer noopener">reverse mortgages</a>. </p> <p>Reverse mortgages have reckoned with <a href="https://www.housingwire.com/articles/how-reverse-mortgage-marketing-can-challenge-product-myths/" target="_blank" rel="noreferrer noopener">reputational concerns</a> for years among potential borrowers. But despite significant investments in education and marketing materials, they have yet to break out from the generally low mortgage market penetration rate they have long maintained. New efforts <a href="https://www.housingwire.com/articles/nrmla-regional-meeting-jim-cory-outlines-reverse-mortgage-advocacy-plan/" target="_blank" rel="noreferrer noopener">hope to challenge this dynamic</a>.</p> <p>Consumer understanding of reverse mortgages has improved, but broader knowledge of home equity lending also shows signs of improvement, according to the survey. </p> <p>In 2022, only 43% of respondents described themselves as having a “strong” understanding of home equity lending, but that figure grew to 53% in the 2025 iteration of the survey.</p> <p>Nearly one-quarter of respondents, however, say they have “an incomplete understanding of these products, indicative of the need for continued education,” MeridianLink explained.</p> <p>“The findings highlight the critical role financial institutions can play in demystifying home equity borrowing and removing barriers to access,” the summary stated. “Through digital lending innovations, enhanced educational resources, and a focus on borrower-friendly experiences, lenders can look to drive higher engagement and adoption of home equity products.”</p> </p>]]></content:encoded> <wfw:commentRss>https://www.housingwire.com/articles/home-equity-lending-2025-consumer-survey-meridianlink/feed/</wfw:commentRss> <slash:comments>0</slash:comments> <post-id xmlns="com-wordpress:feed-additions:1">519684</post-id> </item> <item> <title>Major title insurers post strong Q1 earnings, fueled by commercial real estate deals</title> <link>https://www.housingwire.com/articles/title-insurance-earnings-q1-2025-fidelity-first-american-stewart-old-repoublic/</link> <comments>https://www.housingwire.com/articles/title-insurance-earnings-q1-2025-fidelity-first-american-stewart-old-repoublic/#respond</comments> <dc:creator><![CDATA[Jonathan Delozier]]></dc:creator> <pubDate>Thu, 08 May 2025 21:03:06 +0000</pubDate> <category><![CDATA[Title]]></category> <category><![CDATA[Earnings]]></category> <category><![CDATA[Fidelity National Financial]]></category> <category><![CDATA[First American Financial Corporation]]></category> <category><![CDATA[HWmember]]></category> <category><![CDATA[Old Republic]]></category> <category><![CDATA[Stewart Title]]></category> <category><![CDATA[Title insurance]]></category> <guid isPermaLink="false">https://www.housingwire.com/?p=519664</guid> <description><![CDATA[The four largest title underwriters reported year-over-year gains in commercial title revenue as company leaders pointed to higher demand.]]></description> <content:encoded><![CDATA[<p>A surge in <a href="https://www.housingwire.com/tag/commercial-real-estate/">commercial real estate</a> transactions helped drive solid first-quarter 2025 earnings for the country’s largest <a href="https://www.housingwire.com/tag/title-insurance/">title insurers</a>.</p> <p><strong><a href="https://www.housingwire.com/company/first-american-title/">First American Financial</a></strong>, <strong><a href="https://www.housingwire.com/company/fidelity-national-financial/">Fidelity National Financial</a></strong>, <strong><a href="https://www.housingwire.com/tag/old-republic/">Old Republic International</a></strong> and <strong><a href="https://www.housingwire.com/tag/stewart/">Stewart Information Services</a></strong> all reported year-over-year gains in commercial title revenue. Leaders at each company pointed to improved demand and strategic investments in growth.</p> <h2 class="wp-block-heading" id="h-first-american">First American</h2> <p>First American reported strong first-quarter results, led by a 29% year-over-year increase in commercial real estate revenues and a rebound in title insurance activity.</p> <p>“The commercial side of the business, which began declining in the second half of 2022, is seeing meaningful improvement,” CEO Mark Seaton said. “Commercial volume started picking up in the second half of last year, and the momentum continues into 2025.”</p> <p>Seaton added that while broader economic uncertainty around <a href="https://www.housingwire.com/tag/tariffs/">tariffs</a>, <a href="https://www.housingwire.com/mortgage-rates/">interest rates</a> and <a href="https://www.housingwire.com/tag/inflation/">inflation</a> could slow some deals, First American is well positioned to weather a storm.</p> <p>He noted that while the <a href="https://www.housingwire.com/tag/residential-real-estate/">residential</a> side of the business remains historically weak, it appears to have bottomed out.</p> <p>“Real estate goes in cycles, and we’re at the very beginning of the next cycle,” Seaton said. “I believe residential originations have hit a bottom, and now we can debate the path and pace of growth.”</p> <p>First American’s adjusted pretax margin in the title segment improved to 7.9%, up from 4.8% a year earlier, bolstered by stronger order volume and commercial pricing. </p> <p>Investment income rose 18% to $138 million, largely on higher yields, while <a href="https://www.housingwire.com/agent/">agent</a> premiums, which are reported on a delay, rose 16%.</p> <p>Seaton, who <a href="https://www.housingwire.com/articles/first-american-replaces-ceo-who-allegedly-choked-man-on-cruise-ship/#:~:text=First%20American%20Financial%20Corporation%20has,Seaton%20to%20lead%20the%20company.">recently stepped into the CEO role</a> following the departure of Ken DeGiorgio, emphasized his long-term confidence in the company’s direction.</p> <p>“I’ve been a part of the First American family for nearly 20 years, and it’s an honor to serve the company as its chief executive,” he said. “Given our extraordinary people and unique competitive advantages, I firmly believe our best days are yet to come.”</p> <h2 class="wp-block-heading" id="h-fidelity-national">Fidelity National</h2> <p>Fidelity’s title insurance business saw double-digit growth in revenue and adjusted earnings. </p> <p>The company’s title segment generated $1.8 billion in revenue in Q1 2025, up from $1.7 billion in the same period last year. Excluding market-related gains and losses, revenue rose 12%, driven by gains across residential, commercial and <a href="https://www.housingwire.com/tag/refinancing/">refinance</a> transactions.</p> <p>Adjusted pretax earnings for the title division reached $211 million, a significant jump from $171 million in Q1 2024. Fidelity also posted an adjusted pretax title margin of 11.7%, up from 10.7% a year ago.</p> <p>“Our improved margin is a testament to our employees as well as the operational efficiencies that we have achieved over the last few decades through investments in technology,” Fidelity CEO <a href="https://www.housingwire.com/articles/fidelity-ceo-says-federal-governments-title-insurance-proposals-are-misguided/">Mike Nolan</a> said. </p> <p>Nolan added that Fidelity’s long-term investments are paying off through strong performance in a period of <a href="https://www.housingwire.com/articles/home-sales-disappoint-at-the-end-of-april/">historically low transaction volumes</a>.</p> <p>“We also continue to generate strong free cash flows during this period, enabling us to maintain a dynamic capital allocation strategy that balances investing in growth with returning capital through dividends and repurchases,” he said.</p> <p>Commercial title revenue rose 23% to $293 million, while <a href="https://www.housingwire.com/tag/refinancing/">refinance</a> order volume surged 33% year over year.</p> <h2 class="wp-block-heading" id="h-old-republic">Old Republic</h2> <p>Old Republic’s title insurance segment posted double-digit growth for premiums in Q1 2025 as well as higher operating income.</p> <p>Net premiums and fees earned in title rose to $605 million from January through March — a 10.9% yearly increase. That was driven by a 27% jump in commercial title premiums and an 11% rise in residential premiums.</p> <p>The segment’s performance contributed to overall net operating income of $201.7 million — up 9.2% from Q1 2024.</p> <p>Title premiums produced through agency channels increased 12%, while direct premiums grew by 6%. Commercial title business accounted for nearly one-quarter of total net premiums earned, up from 21% in the same period last year.</p> <p>But the company noted a decline in fee revenue from direct operations, largely due to the <a href="https://www.housingwire.com/articles/qualia-acquires-ramquest-e-closing-from-old-republic/">recent sale</a> of its settlement and production software platforms.</p> <p>That transaction saw Old Republic partner with real estate tech company <strong><a href="https://www.housingwire.com/company/qualia/">Qualia</a></strong>, which acquired the company’s <strong>RamQuest</strong> and <strong>E-Closing</strong> software solutions earlier this year.</p> <p>“<a href="https://www.housingwire.com/tag/technology/">Technology</a> continues to be paramount to ensuring smooth and secure real estate transactions,” said <a href="https://www.housingwire.com/articles/49697-woman-of-influence-carolyn-monroe/">Carolyn Monroe</a>, CEO of Old Republic Title. </p> <p>“In our previous fourth quarter call, we emphasized the importance of refocusing our technological efforts to streamline business operations. In the first quarter, we proudly announced our strategic partnership with Qualia.”</p> <p>Monroe said the move would allow Old Republic to modernize transaction processes across its title operations.</p> <p>“By leveraging Qualia’s expertise and advanced infrastructure, providing a modern digital transaction, we will be able to equip our direct offices and title agents with cutting-edge tools and solutions,” she said. “This partnership also allows our internal tech teams to reallocate our focus and resources toward developing other crucial technologies that will help us thrive in a competitive market.”</p> <h2 class="wp-block-heading" id="h-stewart">Stewart</h2> <p><strong>Stewart Title</strong> showed notable growth in its operations during the first quarter, also led by strong commercial business performance and expansion efforts across key markets.</p> <p>The company reported $3.1 million in net income for the quarter, unchanged from the same period in 2024. Adjusted net income rose to $7 million, up from $4.6 million a year earlier.</p> <p>“I’m proud of our first quarter 2025 performance as we delivered strong revenue results across all our segments, growing our total revenues compared to the first quarter of last year,” Stewart CEO <a href="https://www.housingwire.com/articles/stewart-title-hits-growth-spurt-with-recent-addition-of-600-employees/">Fred Eppinger</a> said. “We are pleased with our performance as we were able to deliver these results while navigating a historically challenging macro environment.”</p> <p>Stewart’s title insurance segment posted operating revenue of $499.2 million, up 11% year over year. Direct and agency operations saw improvements, and title loss expenses remained steady at $17.7 million.</p> <p>Loss expense as a percentage of revenue declined to 3.5%, compared to 3.9% in the same quarter in 2024, reflecting what the company described as “overall favorable claims experience.”</p> <p>“Driven by thoughtful investment in talent as we deepen our capabilities in both geographies and asset classes, our domestic commercial business grew 39% in the first quarter of 2025 relative to Q1 of 2024,” Eppinger said.</p> <p>Eppinger emphasized the company’s continued investments in local growth and <a href="https://www.housingwire.com/articles/title-insurance-mergers-acquisitions-alta-cfpb-respa/">acquisitions</a> as a strategic priority.</p> <p>“In our direct business, we remain focused on growth in our target MSAs,” he said. “We expect acquisitions will be a key component of our growth plan in this business, and to maintain a more robust pipeline of targets.”</p> <p>The company also reported progress in its small commercial title operations.</p> <p>“While the business is impacted by a suppressed residential housing market, we saw strong progress in our strategic priority of growing small commercial within our direct operations as we saw a 16% growth this quarter in that important segment,” Eppinger said.</p> <h2 class="wp-block-heading" id="h-"></h2> <p><br></p>]]></content:encoded> <wfw:commentRss>https://www.housingwire.com/articles/title-insurance-earnings-q1-2025-fidelity-first-american-stewart-old-repoublic/feed/</wfw:commentRss> <slash:comments>0</slash:comments> <post-id xmlns="com-wordpress:feed-additions:1">519664</post-id> </item> <item> <title>Michael Maher to lead referral training for KW MAPS</title> <link>https://www.housingwire.com/articles/michael-maher-keller-williams-kw-maps-real-estate-agent-coaching/</link> <comments>https://www.housingwire.com/articles/michael-maher-keller-williams-kw-maps-real-estate-agent-coaching/#respond</comments> <dc:creator><![CDATA[Brooklee Han]]></dc:creator> <pubDate>Thu, 08 May 2025 20:08:50 +0000</pubDate> <category><![CDATA[Brokerage]]></category> <category><![CDATA[Real Estate]]></category> <category><![CDATA[Gary Keller]]></category> <category><![CDATA[HWmember]]></category> <category><![CDATA[Keller Williams]]></category> <category><![CDATA[Lead Generation]]></category> <category><![CDATA[Real Estate Agents]]></category> <guid isPermaLink="false">https://www.housingwire.com/?p=519663</guid> <description><![CDATA[The creator of the “Referral Mastery System” is bringing his expertise to Keller Williams by offering a program to agents this summer.]]></description> <content:encoded><![CDATA[<p><strong>Keller Williams</strong> has a new training program for KW-affiliated agents looking to up their game this summer. </p> <p>On Thursday, the firm announced that it is welcoming <a href="https://www.housingwire.com/podcast/michael-maher-on-boosting-your-referral-business-with-events/" target="_blank" rel="noreferrer noopener">Michael Maher</a> to the KW MAPS coaching team. Maher will lead a referral training program at <strong>KW MAPS</strong>.</p> <p>“At the core of every great business are great relationships,” <a href="https://www.housingwire.com/author/gary-keller/" target="_blank" rel="noreferrer noopener">Gary Keller,</a> the co-founder and executive chairman of <a href="https://www.housingwire.com/tag/keller-williams/" target="_blank" rel="noreferrer noopener">Keller Williams</a>, said in a statement. “We’re excited to bring Michael’s approach to KW because when you master referrals, you master longevity in this business.”</p> <p>Maher is the creator of the “Referral Mastery System” and works with <a href="https://www.housingwire.com/tag/real-estate-agents/">agents</a> to grow their business through “permission-based marketing referral strategies rooted in generosity and appreciation.” </p> <p>He is also the best-selling author of “7L: The Seven Levels of Communication” and the co-author of “The Miracle Morning for Real Estate Agents.”</p> <p>Starting this summer, Maher’s program will be offered to Keller Williams-affiliated agents and leaders through a new KW MAPS Coaching Fast Track offering.</p> <p>“Generating referrals has been my passion my entire professional life,” Maher said in a statement. “I am here to help KW affiliated agents become more referrable and to help them get more referrals.” </p> <p>Maher is hosting an introductory webinar to his program on May 21. His course, Event Mastery — which KW describes as an accelerated <a href="https://www.housingwire.com/tag/lead-generation/" target="_blank" rel="noreferrer noopener">lead generation</a> group training program that turns an agent’s sphere into referral sources — is set to launch on June 3.</p> <p>“Michael is a master of referral-based business, and his addition to KW MAPS represents a powerful opportunity for KW-affiliated agents,” <a href="https://www.housingwire.com/articles/keller-williams-adds-four-new-faces-to-executive-team/">Cody Gibson</a>, the vice president of KW MAPS Coaching, said in a statement.</p> </p>]]></content:encoded> <wfw:commentRss>https://www.housingwire.com/articles/michael-maher-keller-williams-kw-maps-real-estate-agent-coaching/feed/</wfw:commentRss> <slash:comments>0</slash:comments> <post-id xmlns="com-wordpress:feed-additions:1">519663</post-id> </item> <item> <title>House bill markup pushes sale of federal land for housing development</title> <link>https://www.housingwire.com/articles/house-bill-markup-pushes-sale-of-federal-land-for-housing-development/</link> <comments>https://www.housingwire.com/articles/house-bill-markup-pushes-sale-of-federal-land-for-housing-development/#respond</comments> <dc:creator><![CDATA[Chris Clow]]></dc:creator> <pubDate>Thu, 08 May 2025 19:53:07 +0000</pubDate> <category><![CDATA[Housing Market]]></category> <category><![CDATA[Legislation]]></category> <category><![CDATA[Politics]]></category> <category><![CDATA[Congress]]></category> <category><![CDATA[Construction]]></category> <category><![CDATA[House of Representatives]]></category> <category><![CDATA[HWmember]]></category> <category><![CDATA[Nevada]]></category> <category><![CDATA[Trump Administration]]></category> <category><![CDATA[Utah]]></category> <guid isPermaLink="false">https://www.housingwire.com/?p=519656</guid> <description><![CDATA[A last-minute amendment to a budget bill aims to sell federal land for housing development. It was opposed by some House Democrats.]]></description> <content:encoded><![CDATA[<p>A markup of a budget reconciliation bill from the <a href="https://www.housingwire.com/tag/house-of-representatives/" target="_blank" rel="noreferrer noopener"><strong>House</strong></a> Committee on Natural Resources saw an amendment added that would authorize the sale of thousands of acres of federal land in <a href="https://www.housingwire.com/tag/nevada/" target="_blank" rel="noreferrer noopener">Nevada</a> and <a href="https://www.housingwire.com/tag/utah/" target="_blank" rel="noreferrer noopener">Utah</a>, according to reporting by The Hill and NPR.</p> <p>The move could have significant implications for housing. The amendment was pushed by Reps. Mark Amodei (R-Nev.) and Celeste Maloy (R-Utah), who represent <a href="https://www.housingwire.com/articles/how-will-a-white-house-plan-for-federal-lands-impact-states-like-utah/" target="_blank" rel="noreferrer noopener">states with significant federal land holdings</a>. The markup also seeks to boost energy production on federal lands, including through oil drilling and mining.</p> <p>“Nevada population centers are all <a href="https://www.housingwire.com/articles/nevada-governor-joe-lombardo-state-legislature-release-federal-lands-for-housing/" target="_blank" rel="noreferrer noopener">encumbered by federal land</a> that can’t meet their housing and development needs without disposal of federal lands,” Amodei said during the markup, according to <a href="https://thehill.com/policy/energy-environment/5288264-house-republicans-nevada-utah-land-sale/">The Hill</a>. “Unlike most other states, Nevadans rely on <a href="https://www.housingwire.com/tag/congress/" target="_blank" rel="noreferrer noopener"><strong>Congress</strong></a> to make these lands available.”</p> <p>Maloy contends that the federal holdings in her state unnecessarily restrict disposition debates, particularly for issues like housing development.</p> <p>“The high percentage of federal lands impacts the local government’s ability to work on economic and transportation development, manage natural resources and fully take advantage of recreational activities,” she said, according to <a href="https://www.npr.org/2025/05/07/g-s1-64760/house-republicans-approve-amendment-authorizing-the-sale-of-federal-lands">NPR</a>.</p> <p>But the 33-page amendment stoked the ire of committee <a href="https://www.housingwire.com/tag/democratic-party/" target="_blank" rel="noreferrer noopener">Democrats</a>. They said the speed with which the committee was seeking to implement changes would cut out local stakeholders from the conversation.</p> <p>Rep. Joe Neguse (D-Colo.) took particular aim at Amodei for not consulting the congressional delegation from Clark County, the location of much of the Nevada land at issue, which is represented by three Democrats.</p> <p>“I would think at a minimum, Mr. Amodei, that you would do your colleagues in Nevada the courtesy of at least striking that language regarding Clark County, engage with your three other colleagues before this gets to the floor, and then have a conversation with them,” Neguse said, according to The Hill. </p> <p>The Nevada Democrats in question — Steven Horsford, Susie Lee and Dina Titus — only learned about the amendment via text after the fact, Neguse said. The measure passed by a vote of 26-17, with one Democrat — Adam Gray (Calif.) — joining Republicans to support it.</p> <p>The bill must be debated in the full House before passage.</p> <p>Casey Hammond, former acting director of the <strong>U.S. Bureau for Land Management</strong>, responded to criticisms from environmentalists and Democrats who contend that wholesale transfers of land could exacerbate <a href="https://www.housingwire.com/tag/climate-change/">climate change</a> or be made to <a href="https://www.housingwire.com/tag/institutional-investors/">institutional investors</a>.</p> <p>“If we’re effectively managing federal lands, there’s no reason to turn them over to states to be managed better,” Hammond told NPR. He added that the idea of wholesale transfers were not seriously entertained during the first <a href="https://www.housingwire.com/tag/trump-administration/">Trump administration</a>.</p> <p>Republicans have given themselves a self-imposed July deadline to pass the president’s ambitious tax and government funding agenda. But consensus <a href="https://thehill.com/homenews/house/5288995-trump-trump-medicare-medicaid-cuts/">appears to be thin</a> at this stage of the debate.</p> </p>]]></content:encoded> <wfw:commentRss>https://www.housingwire.com/articles/house-bill-markup-pushes-sale-of-federal-land-for-housing-development/feed/</wfw:commentRss> <slash:comments>0</slash:comments> <post-id xmlns="com-wordpress:feed-additions:1">519656</post-id> </item> <item> <title>Slow burn: Inside the 2025 luxury home market</title> <link>https://www.housingwire.com/articles/2025-luxury-home-market-concierge-auctions/</link> <comments>https://www.housingwire.com/articles/2025-luxury-home-market-concierge-auctions/#respond</comments> <dc:creator><![CDATA[Jonathan Delozier]]></dc:creator> <pubDate>Thu, 08 May 2025 19:32:11 +0000</pubDate> <category><![CDATA[Real Estate]]></category> <category><![CDATA[Home Prices]]></category> <category><![CDATA[Housing Inventory]]></category> <category><![CDATA[HWmember]]></category> <category><![CDATA[Luxury Real Estate]]></category> <category><![CDATA[Real Estate Listings]]></category> <guid isPermaLink="false">https://www.housingwire.com/?p=519628</guid> <description><![CDATA[Buyers are still paying top dollar for prime properties in certain markets, but fewer are willing to chase prices into the stratosphere]]></description> <content:encoded><![CDATA[<p><strong>Concierge Auctions</strong>‘ 2025 Luxury Home Index reveals a market at a crossroads.</p> <p><a href="https://www.housingwire.com/tag/home-prices/">Prices</a> remain high and <a href="https://www.housingwire.com/tag/housing-inventory/">inventory</a> is tight. Demand hasn’t vanished, but <a href="https://www.housingwire.com/tag/luxury-real-estate/">luxury properties</a> are taking longer to sell, listing discounts are widening and macroeconomic shifts are reshaping buyer behavior.</p> <p>“Luxury hasn’t collapsed,” said <a href="https://www.housingwire.com/articles/chad-roffers-on-scalable-tech-in-the-luxury-auction-space/">Chad Roffers</a>, CEO of Concierge Auctions. “But the fantasy pricing days are done. This market is honest — and it’s not always kind.”</p> <h2 class="wp-block-heading" id="h-prices-are-up-but-the-peak-has-passed">Prices are up, but the peak has passed</h2> <p><a href="https://www.conciergeauctions.com/blog/2025-luxury-homes-index">Company data</a> shows that sale prices for luxury properties rose 4.7% year over year.</p> <p>That follows a steady 10-year trend. Prices are up 44.2% compared to 2015, representing average annual growth of 3.7%. But Roffers said the market hit its high-water mark three years ago.</p> <p>“We peaked in 2021. That was the moment when everything lined up,” he said. “There was cheap money, COVID migration, zero inventory, and everyone racing to buy something with a pool. Since then, prices are still strong, but there’s gravity now.”</p> <p>Buyers are still paying top dollar for prime properties in certain markets, but fewer are willing to chase prices into the stratosphere, Roffers said. </p> <h2 class="wp-block-heading" id="h-gaps-between-list-and-sale-prices">Gaps between list and sale prices</h2> <p>One of the most striking findings of the report is the growing divergence between what sellers ask for and what <a href="https://www.housingwire.com/tag/homebuyers/">buyers</a> are willing to pay.</p> <p>On average, luxury homes sold for 13% below their initial listing price in 2024. That gap becomes even more pronounced the longer a home sits on the market.</p> <p>For homes that sold within 180 days, sellers realized 94% of their original list price. For those on the market longer than 180 days, that number dropped to 81%.</p> <p>“People still list properties based on what their neighbor got two years ago, or based on emotion,” Roffers said. “But this market punishes you for that. If you don’t price right out of the gate, you’re going to chase the market down.”</p> <p>In 2024, the average luxury property took 319 days to sell, compared to the national median of just 60 days.</p> <p>The longer timeline has consequences. Roughly one in eight homes took more than 600 days to sell. About 4% sat on the market for over 1,000 days — or nearly three years.</p> <p>“There are a lot of ‘showpiece’ listings that look great in photos but aren’t priced to move,” Roffers said. “Eventually they find a buyer but often at a huge haircut.”</p> <p>Homes that sold quickly — within 180 days — averaged only 89 days on market and held more of their original value. By contrast, homes that exceeded 180 days on market averaged 514 days and saw sharper price declines.</p> <p>“It’s like produce,” Roffers said. “It has a shelf life. If you don’t get offers in the first three months, buyers start wondering what’s wrong with it. Then come the lowballs.”</p> <h2 class="wp-block-heading" id="h-inventory-remains-tight">Inventory remains tight</h2> <p>Despite longer sales timelines, inventory hasn’t ballooned. The report shows that supply remains constrained in many key luxury markets, which has helped keep prices elevated.</p> <p>“Inventory’s tight everywhere,” Roffers said. “Sellers aren’t racing to list. A lot of them are sitting on low-interest <a href="https://www.housingwire.com/tag/mortgage/">mortgages</a> and don’t want to trade into something more expensive.”</p> <p>That scarcity has created pockets of competition, but only for move-in-ready, well-located homes.</p> <p>Regional performance varied widely. The strongest growth came in <a href="https://www.housingwire.com/tag/florida/">Florida</a>, the southern U.S., and coastal portions of the Northwest. Prices fell slightly in Southern <a href="https://www.housingwire.com/tag/california">California</a>, <a href="https://www.housingwire.com/tag/new-england/">New England</a> and the broader East Coast region.</p> <p>“Florida’s still crushing it,” Roffers said. “Between taxes, weather and lifestyle, there’s just no slowdown there. You’ve got both domestic and <a href="https://www.housingwire.com/articles/as-housing-demand-cools-dont-overlook-foreign-investors/">international buyers</a> coming in strong.”</p> <p>But other markets have cooled.</p> <p>“The Northeast has a problem,” he added. “Buyers aren’t rushing to pay $10 million for a historic home in Connecticut anymore, especially when taxes are high and winters are brutal. It has to be truly special to justify the number.”</p> <p>In the Mountain West and Southwest regions, enthusiasm is moderating.</p> <p>“The <a href="https://www.housingwire.com/podcast/jackson-hole-realtor-on-why-homebuyers-are-migrating-to-mountain-towns/">Aspen and Jackson Hole frenzy</a> has definitely chilled,” Roffers said. “People who bought during COVID are now rethinking whether they want to be snowbound eight months a year.</p> <p>“<a href="https://www.housingwire.com/tag/austin/">Austin</a> boomed during COVID, but the luxury market’s correcting. You can’t ask $12 million for a modern farmhouse in a place that didn’t have a luxury tier a decade ago.”</p> <h2 class="wp-block-heading" id="h-u-s-buyers-looking-abroad">U.S. buyers looking abroad</h2> <p>International buyers remain active in the U.S., but Roffers notes a new wrinkle: Americans are looking abroad too.</p> <p>“There’s been a noticeable uptick in U.S. buyers asking about France, the U.K. and Portugal,” he said. “The idea of buying a pied-à-terre in Paris or a villa in Provence is appealing when the dollar is strong and interest rates are high at home.</p> <p>“We’re also seeing more overseas clients buying in the U.S. — especially Miami, L.A. and New York — but they’re extremely selective. They’re not playing catch-up anymore. They’re waiting for value.”</p> <h2 class="wp-block-heading" id="h-private-listings-interest-rates-fraud">Private listings, interest rates, fraud</h2> <p>The <a href="https://www.housingwire.com/articles/confused-by-the-ccp-debate-heres-what-to-know/">Clear Cooperation Policy</a> has made it harder to keep listings off the <a href="https://www.housingwire.com/tag/mls/">MLS</a>, but the private market continues to thrive quietly behind the scenes.</p> <p>“There’s a lot of whisper listing activity,” Roffers said, “especially for high net worth clients who don’t want exposure or who are testing pricing. Everyone knows the rules, but there are workarounds. Discretion is still a major selling point.”</p> <p>High <a href="https://www.housingwire.com/mortgage-rates/">interest rates</a> continue to shape the market — not by freezing ultra-wealthy buyers who often pay in cash but by shifting their expectations.</p> <p>“Even if you’re paying cash, rates matter because they affect opportunity cost,” Roffers said. “A hedge fund guy will ask, ‘Why put $10 million into a beach house when I can get 5% on Treasurys?’ So they negotiate harder.”</p> <p>Economic uncertainty has also made buyers more cautious. </p> <p>“There’s an undercurrent of unease,” Roffers added. “People are watching the election, geopolitical stuff, market volatility. No one wants to feel like they bought at the top.”</p> <p>Another factor weighing on luxury clients is a <a href="https://www.housingwire.com/articles/fbi-warns-of-home-title-theft-surge/">rise in title and deed theft</a> concerns.</p> <p>“We’re seeing more buyers asking about title insurance and fraud protections,” Roffers said. “They’ve heard stories — fake sellers, identity theft, even AI-generated documents. The more valuable the asset, the more attractive it is to scammers.</p> <p>“Most luxury sellers or potential sellers own their home outright, and that creates a huge vulnerability to bad actors compared to someone who has a mortgage. It’s much harder to do that to someone with a mortgage.”</p> <h2 class="wp-block-heading" id="h-"></h2></p>]]></content:encoded> <wfw:commentRss>https://www.housingwire.com/articles/2025-luxury-home-market-concierge-auctions/feed/</wfw:commentRss> <slash:comments>0</slash:comments> <post-id xmlns="com-wordpress:feed-additions:1">519628</post-id> </item> </channel></rss> 
