Homes sales are expected to cool down in 2022, as inventories pile up, according to a recent report by real estate listings website Realtor.com. The company had earlier predicted a 6.6 percent growth in existing home sales in 2022. The latest Realtor report, published on June 13, revised this to a 6.7 percent decline. While the…
Housing Market to Cool Down With Existing Inventories, Says New Report
Home Sales in US Rise to Nine-Month High, Shortages Persist
November 23, 2021
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Business & Economyeconomyexisting home salesHousing Industry Associationhousing marketinflationMarketsnew homesUS
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Sales of U.S. homes, including new and previously-owned, rose unexpectedly in October to their highest level since the start of the year as recovery-related employment level gains propelled a healthy demand for accommodation. According to figures from the National Association of Realtors, there was an increase in the share of investors buying up homes last…
Zillow to Stop Buying New Homes for the Rest of the Year as It Struggles to Manage Backlog in Renovations
October 20, 2021
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Business & EconomyCompaniesconstruction industryCOVID-19 pandemicEconomieseconomylabor shortagesnew homesreal estateUSUS News
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Online real estate marketplace Zillow on Monday announced it will stop buying new homes for the rest of the year due to a backlog in renovations and operational capacity constraints. The company’s Chief Operating Officer, Jeremy Wacksman, said in a statement that Zillow will not be signing any new, additional contracts to buy homes through the end…
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