Remove seattle-news data
article thumbnail

Prices for luxury homes soared in the first quarter 

Housing Wire

year over year in the first quarter of 2024, with the median price hitting a record $1.225 million, according to data from Redfin. People with the means to buy high-end homes are jumping in now because they feel confident prices will continue to rise,” David Palmer, a Redfin Premier agent in the Seattle metro, said in a news release.

Equity 412
article thumbnail

Q4 BrokerPulse: Commission lawsuits spur proactive changes for real estate brokers

Housing Wire

A Seattle-based broker-owner shared a similar sentiment, “[We are] helping agents with their value proposition when it comes to representing a buyer, specifically when it comes to buyer agency agreements and how to negotiate their compensation.” ” The Sitzer/Burnett class action commission lawsuit trial date is October 9.

Brokerage 341
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Zillow to kill its iBuying program

Housing Wire

The wind-down of “Zillow Offers” is expected to last several quarters and will reduce the Seattle-based company’s workforce, reported at 6,420 employees as of June 30 , by 25%. The purchase has triggered a Federal Trade Commission inquiry regarding Zillow’s array of agent and consumer data.

Closing 395
article thumbnail

Is the spring housing market about to rebound?

Housing Wire

While it’s not as clear how long-lasting the rebound will be, it does still provide some much-needed good news for the spring and summer housing market. Data from NAR also shows a home price correction in nearly one-third of the 221 markets it tracks in the first quarter of 2023.

Marketing 408
article thumbnail

Home price growth continued to slow to start 2023

Housing Wire

Financial news this month has been dominated by ructions in the commercial banking industry , as some institutions’ risk management functions proved unequal to the rising level of interest rate,” Lazzara said in a statement. Home price growth in the 10-city composite index also slowed in January, recording an annual gain of 2.5%

article thumbnail

Mortgage market affordability and inventory challenges

Housing Wire

Let’s start with the good news. In Portland, Oregon, for example, one loan officer noted that new listings doubled in the second half of May from 800 to 1,900 new listings. In Seattle, Dan Keller reported 47% of all listings had price reductions. In Seattle, Dan Keller reported 47% of all listings had price reductions.

Mortgages 392
article thumbnail

Seller Concessions on the Rise

Broke Agent Media

BAM Key Details: A new Redfin report shows over 45% of sellers giving concessions to incentivize buyers, with a record 13% of sales involving both price cuts and concessions. Pandemic boomtowns, led by Seattle, have seen the biggest increases in seller concessions, which are most common in Las Vegas at 51.6% of home sales.