Some real estate markets continue to surge Jackson, Miss.; Rochester, N.Y.; and Wichita, Kan., are among cities where home sales are closing quickly, even as other locations see a slowdown in real estate, according to Redfin data. In Jackson, homes stayed on the market for only seven days in May, down from 77 days a year ago. Full Story: Forbes (tiered subscription model) (6/30)
Technology & Innovations
New marketplace lets agents bid for listings BidMyListing has rolled out nationwide, enabling real estate professionals to bid on listing opportunities. "BidMyListing disrupts an incredibly flawed and antiquated system that has resulted in generations of sellers rewarding speed over substance when picking an agent," founder Matt Proman says. Full Story: Mortgage Professional America (6/27)
Introducing the Tenacious 30 More than 300 young real estate practitioners applied for 30 Under 30 this year. Meet the entrepreneurs who were selected and read their profiles to learn how they have succeeded in this special digital edition of REALTOR® Magazine, sponsored by BidMyListing.
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Fair & Equitable Housing
Prefabricated houses offer path to homeownership The nonprofit Next Step Network helps people move toward homeownership with factory-built houses. "If we want to give these families a ladder to the middle class, then we have to remember that home acquisition, and the education and support that will allow them to find financing, are critical steps up that ladder," founder Stacey Epperson says. Full Story: Forbes (tiered subscription model) (6/30)
Inflation exacerbates affordable housing challenge U.S. Secretary for Housing and Urban Development Marcia Fudge says Miami is the "epicenter of the housing crisis in this country," with rents increasing 45.8% in May from a year ago, according to realtor.com®. "The problem is that, along with inflation and everything else, land prices have gotten crazy and construction costs have gotten crazy," says Victor Ballestas of developer Integra Investments, which plans to build more affordable housing in Miami. Full Story: The Real Deal (6/29)
The National Association of REALTORS® is America's largest trade association, representing more than 1.5 million members involved in all aspects of the residential and commercial real estate industries. REALTOR® Magazine is the official magazine of NAR, bringing expert insight to real estate trends, tools, and business strategies.
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