Industry Update: the Future of eClosing and RON

Join industry experts for an in-depth discussion on the future of eClosing and how hybrid and RON closings benefit lenders and borrowers.

DOJ v. NAR and the ethics of real estate commissions

Today’s HousingWire Daily features the first-ever episode of Houses in Motion. We discuss the Department of Justice’s recent move to withdraw from a settlement agreement with the NAR.

Hopes for generational investment in housing fade in DC

Despite a Democratic majority, the likelihood of a massive investment in housing via a $3.5 trillion social infrastructure package appears slim these days. HW+ Premium Content

How Biden’s Neighborhood Homes proposal impacts real estate investors

Dubbed the Neighborhood Homes Tax Credit, the proposal is part of the larger American Jobs Plan legislation — also known as Biden’s infrastructure plan. Here's a look into how it impacts real estate investors.

Vegas home sales down 15% in September: DataQuick

Las Vegas home sales fell 15% in September from a year ago but held flatter than normal on a monthly basis, according San Diego-based real estate data provider MDA DataQuick. There were 4,276 new and resold home sales in Las Vegas for September, down 0.2% from August. Monthly sales did fall nearly as far as the 22.2% drop from June to July as investor demand, low mortgage rates and late-closing Summer transactions leveled countered the expiration of the homebuyer tax credit. Sales of newly built homes increased 4% from a year ago, while existing home sales dropped 19.3%. “Beyond the lost tax credits, the housing market has been undermined by a weak economic recovery, a lack of significant job growth and potential homebuyers’ concerns about job security,” according to DataQuick. Workouts on prevalent developments in the area are being sought. MGM Resorts International and Dubai World, an investment bank backed by the Dubai government, are trying to refinance the $1.8 billion loan on the CityCenter development they own located on the Vegas Strip, Bloomberg reported Thursday. “Moreover, without the tax credit deadlines, only super-low mortgage rates are pressuring would-be buyers to purchase sooner rather than later.” The median price on for a new or resale home in Las Vegas stood at $130,000, flat from a year ago and the month before. But it’s a 58.3% drop from the $312,000 median peak in November 2006. Vegas, which holds the highest foreclosure rate of any metro area in the country, according to RealtyTrac, had 2,687 homes lost to foreclosure in September, down 15% from last year but up 9% from August. The peak came in February 2009, when lenders foreclosed on 3,718 homes. Write to Jon Prior.

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The housing market is losing steam

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3d rendering of a row of luxury townhouses along a street

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