NAHB: Multifamily demand remains strong despite supply issues | 2018-05-24

According to the National Association of Home Builders, demand for multifamily product remains strong and builders/developers feel positive about the production conditions. Today, NAHB released its quarterly Multifamily Market Survey.  The survey yields two indices Multifamily Production Index and Multifamily Vacancy Index. Both are measured against quarterly U.S. Census data on multifamily starts and vacancies.…

Existing home sales take a 2.5% tumble | 2018-05-24

April’s existing home sales fell 2.5% month-over-month and 1.4% year-over-year, according to the National Association of Realtors' monthly report. NAR Chief Economist Lawrence Yun said this is due to the woeful lack of inventory. “The root cause of the underperforming sales activity in much of the country so far this year continues to be the utter…

Trelix unveils a closing services solution | 2018-05-23

Trelix, a provider of real estate, mortgage and technology services, announced the launch of a closing services solution that aims at helping mortgage lenders settle their loans. It will also provide a full suite of end-to-end fulfillment services for customers. “As our customers work to minimize origination and underwriting costs and become more efficient, they can…

Morningstar: Five cities determine major apartment REIT performance | 2018-05-23

Five major U.S. cities have outsized influence on the performance of four of the top apartment real estate investment trusts in the market. According to a report from Morningstar Credit Ratings, New York City, San Francisco, Washington D.C., Boston and Los Angeles make up 90% or more of AvalonBay and Equity Residential’s net operating income,…

New home sales slip 1.5%, inventory rises to a nine-year high, industry remains optimistic | 2018-05-23

New home sales in April fell 1.5% from March. April saw 662,000 new homes sold, whereas March saw 672,000, according to estimates from the U.S. Census Bureau and the Department of Housing and Urban Development. The industry seems relatively unconcerned with the slip and calls for an upward trend in home sales going forward. “[The National…

MBA Secondary: Can Fannie and Freddie help fix the housing shortage? | 2018-05-23

The challenges facing the mortgage market are many: a significant shortage of housing, rising interest rates and first-time homebuyers who need specialized underwriting are just the start. But leaders from Fannie Mae and Freddie Mac assured attendees at the MBA Secondary Marketing Conference on Tuesday that the GSEs were ready to partner with them to…

eXp now trading on the NASDAQ | 2018-05-21

As of today, eXp World Holdings is trading on the NASDAQ under the ticker EXPI. It is currently trading at $18.00, up $0.64 on the day. The company’s claim to fame is that it is the largest single-owned real estate brokerage in North America. “Today marks a special day in the history of eXp Realty. Our…