Millennials are driving US home sales

Existing home sales rose for the second consecutive month, as January saw a seasonally-adjusted annual rate of 6.69 million purchases – up a robust 23.7% year-over-year. You can thank Millennials for that. Lawrence Yun, chief economist for the National Association of Realtors, said last month that he expected momentum to carry over from the end…

Existing home sales are still too hot

The National Association of Realtors reported that existing home sales for January were at 6,669,000, which beat estimates. The year-over-year growth was an impressive 23.7%. The median sales price also jumped 14.1% year over year, which I warned could happen during the years 2020-2024. On a recent HousingWire podcast, I discussed the need for higher…

States Title raises $150M for home closing tech

Title insurance upstart States Title announced this week $150 million in debt financing from HSCM Bermuda, which will go towards developing a more modern home closing experience. CEO Max Simkoff said the financing will held them “wipe the system clean” and build a homebuying system from scratch – one that is simple, efficient and digital, he…