Demand for vacation homes is falling fastest in Florida A new Redfin report reveals that American appetite for vacation homes has continued its steady decline, reaching the lowest point in at least six years. In 2024, U.S. homebuyers took out just 86,604 mortgages for second homes--often used as vacation properties -- marking a 5% drop from the previous year and the lowest level since Redfin began...
Lower rates helped Detroit-based Rocket Companies, the parent of Rocket Mortgage, improve its originations in the first quarter of the year — a period also marked by the announcement of two major acquisitions in Redfin and Mr. Cooper. But the second quarter is expected to look different. While the macroeconomic landscape made mortgage production more challenging in April, the company will now shift...
The heated debate around the Clear Cooperation Policy (CCP) has roiled the real estate brokerage space as a result of fierce pushback on the rule from Compass. But company CEO Robert Reffkin has a question amid what he characterized as “negative narratives and scare tactics.” What’s the downside for a home seller of Compass’s “three-phase marketing” strategy? On Compass’s...
Home prices rose in more than 80% of U.S. metro areas in the first quarter of 2025 — even as affordability remained stretched and fewer markets posted double-digit gains. According to the National Association of Realtors (NAR), 189 of 228 metro areas (83%) saw year-over-year increases in the median price for existing single-family homes. That’s a slight decline from 89% in the fourth quarter of...
Despite a slowdown in overall Home Equity Conversion Mortgage (HECM) volume in the first quarter of 2025, Longbridge Financial contributed positively to parent company Ellington Financial. Overall performance at Ellington saw $31.6 million in net income to common stockholders, up from $22.4 million the prior quarter. Longbridge posted a net loss of $1 million for the quarter. However, reverse...
The founder of Warburg Realty Frederick Warburg Peters is joining Brown Harris Stevens. The New York-based firm announced Peters’ move on Thursday. Peters founded Warburg Realty in 1991 before selling it to Coldwell Banker in 2021. Frederick Warburg Peters “The choice of Brown Harris Stevens was an easy one for me,” Peters said in a statement. “Hall Willkie has been a peer and a good...
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Nestled in the woods of an island on Lake Champlain, Vermont, this 1955 “seasonal camp” home is where empty nesters Lance and Dawn Trigg go to entertain family and friends. But the couple, who live primarily in Florida, didn’t feel the kitchen was party-ready. At issue were aging appliances, an...
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