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Home sale cancellations hit record high in January

Housing Wire

Home sale cancellations in the U.S. The figure, which represents over 41,000 failed home-purchase agreements, marks an increase from 13.4% Meanwhile, pending home sales hit a record low for January, excluding the early pandemic months. Many are opting to wait out market instability before committing to a purchase.

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More first-time buyers rely on mortgage rate buydowns to afford homes

Housing Wire

Higher mortgage rates are forcing many first-time homebuyers to adopt a “wait-and-see” approach to the market. According to HomeLight ‘s Top Agent Insights report released this week, real estate agents are feeling this and are being forced to switch up tactics to attract buyers. 30 and Nov.

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Navigating movement in the mortgage industry series: Post-closing matters are important too

Housing Wire

Introduction As part of our ongoing discussion on the concept of movement in the mortgage industry, it is readily apparent that the failure of mortgage companies to pivot or tweak their business models to satisfy changing market and other conditions has resulted in consolidation based on liquidity, buyback, financial and other concerns.

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Rocket Companies announces deal to acquire Redfin for $1.75 billion

Housing Wire

Today, Rocket Companies announced it has entered into an agreement to purchase digital real estate brokerage Redfin in an all-stock transaction valued at $1.75 billion in equity. The deal, which has been approved by the boards of directors of both Rocket Companies and Redfin, is expected to close in the second or third quarter of 2025.

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Nearly half of home sellers are offering concessions

Housing Wire

home sellers offered concessions to buyers in near-record numbers during the first quarter of 2025 as rising housing costs , high mortgage rates and growing economic uncertainty continued to reshape the real estate landscape. of home purchase agreements fell through, according to Redfin equivalent to about 52,000 transactions.

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Home prices expected to dip as supply and demand collide

Housing Wire

The company also expects mortgage rates to remain elevated near 7% through the end of the year. Inventory grows, sales shrink Redfin said cooler prices stem from a widening gap between supply and demand. Existing-home sales dropped 1.1% Meanwhile, the total number of homes for sale surged 16.7% during the year.

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What is a real estate broker vs. an agent? We explain the key differences

Housing Wire

So, let’s start with the basics: What is a real estate broker vs. an agent? To answer that, we’ll take a deep dive into the differences between the many types of real estate professionals, including a real estate agent and a real estate broker. Summary What is a real estate agent? What does a real estate agent do?