Real Estate Tech News


For the First Time in 4 Years, the Number of Homes for Sale Is Up—Here's What It Means

For the First Time in 4 Years, the Number of Homes for Sale Is Up—Here's What It Means

For the first time in four years, the inventory of homes on the market actually grew in October—by 2% nationally, compared with the same time last year. In the fiercely competitive world of U.S. real estate—where a lack of available homes has led to price jumps, bidding wars, and frustrated buyers—this is significant news. Is it a harbinger of changes to come? While the net increase of 25,000 listings was no avalanche, it marked a sharp change from the severe constriction in supply that has marked recent years and driven up prices. In addition, new listings in October came in at cheaper price points.
Walmart Plans To Redevelop Supercenter Land Into 'Town Center' Gathering Places

Walmart Plans To Redevelop Supercenter Land Into 'Town Center' Gathering Places

Walmart is planning to develop the land surrounding a number of store sites nationwide into town centers, or what it calls "reimagined centers." The town centers will be located on land around Walmart supercenters that the retail giant considers underutilized. The concept is flexible and will include the addition of restaurants, health clinics, day care establishments, gas stations, bowling alleys, food trucks, bike rental stations, and driving ranges.
Nine Cities Earn $1 Million Via Bloomberg Philanthropies’ U.S. Mayors Challenge

Nine Cities Earn $1 Million Via Bloomberg Philanthropies’ U.S. Mayors Challenge

Nine cities have won the Bloomberg Philanthropies U.S. Mayors Challenge, which comes with $1 million for each jurisdiction to put toward implementing solutions to civic issues they face. The awards come after a year-long competition, during which city leaders proposed, tested and developed projects capable of solving local problems — projects that also have the potential to be scaled for national use. The $1 million is specifically intended to be used to begin implementation of the winning projects, which address a pretty wide range of challenges, including homelessness, climate change, the opioid crisis and more.
As the housing market stagnates, American homeowners are staying put for the longest stretches ever

As the housing market stagnates, American homeowners are staying put for the longest stretches ever

Housing-market headwinds are keeping American homeowners in their properties for the longest stretches on record, in a sharp distortion of the mobility Americans have for decades prized. Across the country, homes that sold in the third quarter of this year had been owned an average of 8.23 years, according to an analysis from Attom Data Solutions. That’s almost double the length of time a home sold in 2000, when Attom’s data begin, had been owned.
Pending home sales snap back in September after 4-month losing streak

Pending home sales snap back in September after 4-month losing streak

U.S. pending home sales edged up 0.5% to a reading of 104.6 in September from 104.1 in August, the National Association of Realtors said Thursday. The consensus forecast among economists surveyed by Econoday was for no change. What happened: NAR’s index, which tracks real estate contract signings, snapped a four-month losing streak. But it was lower than year-ago levels for the ninth month in a row, this time by 1.0%.
Existing-home sales slump to a near 3-year low as buyers back out

Existing-home sales slump to a near 3-year low as buyers back out

The numbers: Existing-home sales ran at a seasonally adjusted annual rate of 5.15 million in September, the National Association of Realtors said Friday. That was a 3.4% decline for the month and the lowest pace of sales since November 2015.
Pretium Explores Up to $5 Billion of Rental-Home Sales

Pretium Explores Up to $5 Billion of Rental-Home Sales

Pretium Partners LLC, the third-largest owner of U.S. single-family rentals, is working with Morgan Stanley and Ardea Partners to explore options that could include a sale of most of the company’s homes, according to people with knowledge of the matter.
Homebuilder sentiment unexpectedly rises amid solid demand

Homebuilder sentiment unexpectedly rises amid solid demand

Confidence among homebuilders unexpectedly rose in October, registering the first gain in five months amid falling lumber prices and solid demand, according to a report Tuesday from the National Association of Home Builders/Wells Fargo. The Housing Market Index increased 1 point to 68 (the estimate was 66). The current sales gauge for single-family homes increased to 74 from 73; the gauge of the six-month sales outlook rose to a three-month high of 75 from 74. The measure of prospective buyer traffic climbed to a seven-month high of 53 from 49.
Zillow: Most Americans would rather renovate than move

Zillow: Most Americans would rather renovate than move

New 'Housing Aspirations' report determined that a whopping 76% would rather upgrade than relocate. Most Americans would rather stay in their current home and make renovations than move, according to a new study from Zillow. The real estate tech company’s latest “Housing Aspirations” report finds that 76 percent of Americans would rather use a set amount of money to upgrade their homes, as opposed to using that same set of funds as a downpayment on a house.
David Beckham scores a court win on a Miami stadium deal he no longer wants

David Beckham scores a court win on a Miami stadium deal he no longer wants

A Florida appeals court on Wednesday sided with Miami-Dade in a no-bid deal with David Beckham and partners to buy county land for an Overtown stadium the retired soccer star no longer wants. The Third District Court of Appeal ruled against Bruce Matheson, a wealthy landowner near the former stadium site who last year sued the county over the legality of selling public real estate without inviting other bids.


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