News (NWSA) Stock News

Realtor.com® reports that young adults moving back home during the pandemic can save for a home down payment more easily. Paying the U.S. median rent of $1,533 allows them to save $17,000 in 11 months, equating to a 5% down payment on a $340,000 median-priced home. In the top 20 metro areas, it takes an average of 15 months to save for this down payment. Cities like Chicago and Philadelphia offer the quickest savings, while areas such as Los Angeles and San Francisco take the longest, up to 22 months.

Realtor.com® has integrated Knock's Home Swap into its Seller's Marketplace to simplify the home buying and selling process. This offering enables homeowners to make non-contingent offers on new homes before selling their existing ones, aiming to reduce stress and enhance convenience. Currently available in 15 markets, including Arizona, Florida, and Texas, the Home Swap helps homeowners avoid costly repairs and showings. Realtor.com® provides a transparent platform for comparing various selling options with no upfront costs.

Realtor.com and Qualia announced a new partnership aimed at enhancing the digital closing experience for real estate agents and clients. Set to launch as a pilot in seven states including Florida and Texas, the initiative will allow real-time collaboration with title providers through a secure platform. This move aims to elevate efficiency, transparency, and security in real estate transactions, responding to consumer demand for digital solutions. The partnership will also benefit title providers within Qualia’s network by increasing exposure to Realtor.com’s large agent base.

As of January 21, 2021, realtor.com's December rental report reveals significant disparities in rental trends across the U.S. Major cities like San Francisco and Manhattan are experiencing steep declines in rents, with studio rents dropping by 33.8% and 21.0% respectively. In contrast, suburban areas like Sacramento see rental increases, with studios rising 20.3%. Nationally, studio rents decreased by 0.7%, while one- and two-bedroom units rose by 0.8% and 2.6%. The report underscores the local nature of real estate, particularly in the rental market.

Realtor.com has partnered with Asteroom and CloudPano to enhance its 3D tour offerings for home buyers. This addition aims to meet growing demand for virtual real estate experiences, especially post-pandemic. Home shoppers can now access interactive 360-degree views, facilitating a deeper understanding of properties without physical visits. The shift toward virtual tours has proven beneficial, with listings featuring them seeing a 227% increase since March 2020. The new partnerships support agents by providing low-cost, user-friendly 3D scanning solutions.

According to realtor.com, searches for homes in ski towns surged nearly 36% year-over-year in the fourth quarter of 2020, largely driven by residents from colder Northern states seeking outdoor recreational options. Snowbirds showed increased interest in ski towns, with views up 44.5% compared to the national average increase of 35.7%. The top ski towns saw a 127% average increase in home shopper interest. Notable towns include Union Dale, PA with a 225% search increase and a median listing of $185,000.

The U.S. housing market saw a historic low in the number of homes for sale in December, dipping below 700,000 for the first time, as demand remained robust. The median listing price rose to $340,000, reflecting a 13.4% year-over-year increase, despite a decline from a summer high of $350,000. Newly listed homes dropped just 0.8% compared to the previous year. The ongoing shortage of inventory and mixed trends in new listings highlight challenges ahead. Experts anticipate further lows in supply as COVID cases surge, impacting sellers' willingness to list properties.

Summary not available.

Move, Inc., operator of realtor.com®, has acquired Avail, a Chicago-based platform enhancing the renting experience for DIY landlords and tenants. This acquisition aims to expand realtor.com®'s presence in the rental market, which is worth over $500 billion annually. Avail's tools assist landlords in managing properties effectively, with 90% using its free services. CEO David Doctorow highlighted the strategic importance of this acquisition in meeting the needs of a growing and underserved market. The acquisition terms remain undisclosed, but it is expected to bolster rental listing content and increase brand loyalty.