Real Estate

Property management tech provider Mynd raises $20 million

Company founded by former Waypoint Homes founders Doug Brien, Colin Wiel
Property management technology provider Mynd announced this week that it raised $20 million in its Series B funding. Mynd was founded in 2016 by Doug Brien and Colin Wiel, who previously founded Waypoint Homes, a single-family rental operator that eventually grew into the largest player in the industry.
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NAR midyear forecast: Despite inventory, home sales expected to rise in 2018

But affordability brings challenges
Several speakers at the 2018 Realtors Legislative Meetings and Trade Expo stated that they are forecasting a slight increase in home sales for 2018, but that growth won't come without some obstacles. Despite a strengthening economy, wage growth and improving job market, issues like low supply and affordability may threaten the rate of increase for home sales in 2018, according to the speakers.
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Dodge Analytics: Residential construction starts fell 9% in April

Multifamily dips 7% YoY, single-family rises 7%YoY
Residential construction starts faltered in April as did the rest of the construction sectors, according to a report by Dodge Data & Analytics. The report showed that residential construction starts, both single-family and multifamily, totaled 303.8 billion, a 9% decrease from March. Multifamily dropped by 20%, which signaled the second declining month in a row.
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MBA: Mortgage delinquencies down in Q1

Strong economic performance drives down delinquency; foreclosure inventory rate lowest since 2006
According to the Mortgage Bankers Association, the foreclosure rate is up slightly despite delinquencies sitting at pre-housing crisis lows and sliding. A strong economy is minimizing delinquency, and despite the slight uptick in Q1, foreclosures are down significantly year-over-year.
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Senate narrowly passes measure to restore net neutrality

But will it advance in House?
The Senate voted Wednesday to restore net neutrality ahead of its scheduled rollback. While real estate companies are in full support of the Senate’s decision, the measure still needs to be voted on by the House of Representatives and be signed off on by President Donald Trump.
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Mick Mulvaney doubles down on minimalist practices at CFPB

NAR supports deregulation, and Mulvaney wants to solve student debt with education
CFPB Acting Director Mick Mulvaney doubled down on his mission to revamp the CFPB direction, telling a group of Realtors this week about his plans for the bureau. Mulvaney reiterated his mission to rescind regulation by enforcement, restructure the CFPB, and “get back to basics,” according to a review of the conference, which was hosted by the National Association of Realtors.
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Direct homebuyer OfferPad secures $150 million in funding to power growth

Targeting $1.5 billion in volume in 2018
There certainly appears to be no shortage of money interested in investing in the burgeoning direct homebuyer segment. Opendoor has been raising money hand over fist, a newcomer named Perch launched last week with $30 million in funding, plus Zillow and Redfin both recently expanded into direct buying. The other growing player is OfferPad, which announced this week that it recently secured $150 million in new funding to continue growing its direct buyer business.
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