The nation’s real gross domestic product grew at an annual rate of 2.8 percent in the third quarter of the year. But with falling sales and tapering price growth, agents could be forgiven for feeling left out.
Category: Markets & Economy
Housing costs force Americans earning less than $50K to sacrifice
Nearly three-quarters of U.S. residents earning less than $50,000 annually are struggling to keep up with monthly rent or mortgage payments, causing many to make dramatic sacrifices to stay afloat.
Matterport posts $38.4M loss in Q3 as it spends for scale
During the first nine months of the year, Matterport pulled in a total of $125.8 million in revenue. Most of that is from recurring services and subscriptions.
Real talk: We need to make housing more accessible for older adults
Planning for the future and promoting accessible, inclusive infrastructure keeps senior adults connected to their communities, Rachael Hite writes.
North Dakota voters reject plan to eliminate property taxes
State officials estimated that Measure 4 would cost North Dakota $3.15 billion in lost revenue over two years. Realtor.com Chief Economist Danielle Hale cautioned that while North Dakota’s property tax system might benefit from reform, eliminating it entirely could create even greater challenges.
Housing affordability a main issue for early voters: Redfin
Thirty-eight percent of early voters said housing affordability influenced their presidential vote. Harris voters (43 percent) were more likely to care about housing than Trump voters (29 percent), Redfin said.
CoStar moves one step closer to securing Arlington HQ
CoStar Group inked a deal with a longtime tenant of its new Arlington HQ, which leased 13 of the building’s 31 floors. The tenant agreed to downsize to two floors, giving CoStar enough space for the 500 employees moving to the new HQ.
Weak jobs, manufacturing reports provide no relief for mortgage rates
Hurricanes and strikes were expected to dent job creation, and bond market investors are looking ahead to next week’s election, Fed meeting and government bond auctions.
US home prices rise modestly amid affordability strains
CoreLogic Chief Economist Dr. Selma Hepp told Inman, “despite much-needed optimism, brought by a sharp decline in mortgage rates in August, the boost was short lived and not enough to renew homebuyers’ interest.”
Mortgage rates back at 7% as bond market investors stage rebellion
“Bond vigilantes” figure “no matter which party wins the White House and the Congress, fiscal policies will bloat the budget deficit and heat up inflation,” Wall Street veteran Ed Yardeni warns.