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New apartment construction hasn’t lowered rents in many areas

Housing Wire

More inventory can bring down prices, but some renters still struggle to meet the rental price hikes found in new construction. Seattle-based brokerage Redfin released a report this week that highlighted a 1.5% increase in asking rents for newly constructed apartments in 2024 the biggest spike in 18 months.

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Home sellers who didn’t list on the MLS lost $1B in sale proceeds: Zillow

Housing Wire

To classify these sales, Zillow identified sales that were reported pending or closed with at most one day active and with a buyer and seller represented by the same agent or by agents within the same brokerage office, the report stated. The study also found that these losses were deepest in communities of color.

MLS
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Compass strikes again with leadership changes in the Southeast

Housing Wire

Leading brokerage Compass announced some key leadership moves this week to bolster its operations in the Southeast, including Florida. The brokerage has hired industry veteran Nikol Solares as senior managing director of new development marketing. Adam Vellano was promoted to managing director of the South Florida market.

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Maryland-based Anchor Home joins Compass

Housing Wire

Were always proud to partner with top brokerages and agents who share our commitment to delivering an exceptional experience for buyers and sellers across every market we serve. Anchor Home specializes in high-end residential sales, staging, new construction consultations and renovation strategies. million, according to Compass.

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Zillow will begin banning noncompliant listings on June 30

Housing Wire

In a blog post on Tuesday, Zillow offered agents some clarifications and guidance on its new policy and how it will be implemented. As such, the rule does not apply to for-sale-by-owner ( FSBO ) and rental listings or new construction inventory listed directly by a homebuilder.

MLS
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Century 21 expands in Kansas

Housing Wire

Century 21 Real Estate has announced the affiliation of Monument Real Estate , a locally owned brokerage in Emporia, Kansas. His brokerage currently ranks 11th in the local MLS by sales volume. Going forward, Keisler plans to recruit additional agents and expand into new markets across Kansas.

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Top-producing Banner Team joins Compass, expanding DC-area presence

Housing Wire

“After much discussion and exploration, we concluded that moving to a brokerage built on technology will enable us to streamline our services, giving us the time and tools to provide the personalized touch that is missing in so many modern experiences.” . When Compass emerged on the DMV scene, we watched as they took off.