Real Estate Tech News


The ambitious real estate ‘unicorn’ Opendoor just made its first acquisition, snapping up Open Listings

The ambitious real estate ‘unicorn’ Opendoor just made its first acquisition, snapping up Open Listings

Opendoor a four year-old, San Francisco-based company, has from the outset intended to make it possible to buy and sell residential real estate with a few key strokes. It seemingly gets closer to that audacious vision by the day. The company closed on $325 million in new funding in June in a round that brought its total equity funding to $645 million to date — and its valuation to more than $2 billion.
JPMorgan Chase Will Commit $500 Million to Reviving U.S. Cities

JPMorgan Chase Will Commit $500 Million to Reviving U.S. Cities

Mega-bank JPMorgan Chase has spent the past five years turning neighborhoods in a handful of U.S. cities into laboratories for economic revitalization, steering financing, training and expertise to cash-starved communities. On Wednesday, it will announce plans to scale up that experiment dramatically with the AdvancingCities program—a 5-year, $500 million campaign that could expand its model to as many as 30 metro areas.
Keller Williams is making huge moves in the tech space

Keller Williams is making huge moves in the tech space

Keller Williams is on a mission to beat Zillow and Redfin in the real estate game, and it plans to use technology to make it happen. The real estate franchisor acquired Philadelphia-based startup SmarterAgent, which allows agents to create their own branded apps, and has a platform that connects more than 650 multiple listing services.
It's better to rent than to buy in today's housing market

It's better to rent than to buy in today's housing market

t is easily the question most asked by anyone moving into their first home or downsizing into retirement. Should I buy or should I rent? For nearly a decade the answer has been buy. The crash in home prices, combined with record-low mortgage rates made buying and owning a home both cheaper than renting one and a better investment.
Construction spending ticks up in July, led by public sector

Construction spending ticks up in July, led by public sector

Construction expenditures were 0.1% higher in July than in June, led by the public sector, the Commerce Department said Tuesday. Outlays in July were 5.8% higher than a year ago.
Calpers’ Bet on Sacramento’s Planned Tallest Tower Splits Board

Calpers’ Bet on Sacramento’s Planned Tallest Tower Splits Board

Sacramento officials are cheering a decision by the California Public Employees’ Retirement System to build what would be the tallest tower in its hometown. But some inside Calpers’ boardroom are concerned the 550-foot project represents too much risk.
Realogy, PHH Corporation to pay $17M to settle kickback suit

Realogy, PHH Corporation to pay $17M to settle kickback suit

Brokerage conglomerate Realogy and mortgage provider PHH Corporation will pay $17 million to settle a class action lawsuit alleging a years-long kickback scheme. The settlement, recently approved by a California judge, stems from a 2015 lawsuit that accused Realogy and PHH of funneling title insurance business to Title Insurance Group, a Realogy subsidiary.
The $1 billion price cut: Luxury real estate gets slashed

The $1 billion price cut: Luxury real estate gets slashed

The most expensive real-estate in America just became a little less expensive — with $1 billion in price cuts among America's top listings over the past few months, according to a CNBC analysis. The high-end real-estate market has seen steep price cuts in recent months as foreign buyers dry up,
“Every day is a fire drill”: Construction startup Katerra struggles to stay on track as it scales up

“Every day is a fire drill”: Construction startup Katerra struggles to stay on track as it scales up

Construction startup Katerra — valued at $3 billion following an $865 million funding round in January including SoftBank — is struggling with delays and quality control as the company tries to scale up. Many in the real estate industry are paying close attention to the three-year-old company, which aims to cut costs by streamlining the construction supply chain.
New home sales fall to 9-month low

New home sales fall to 9-month low

Sales of new U.S. single-family homes unexpectedly fell in July to a nine-month low in a sign the housing market was cooling and could give less support to the overall economy. The Commerce Department said on Thursday new home sales decreased 1.7 percent to a seasonally adjusted annual rate of 627,000 units last month, the lowest level since October 2017.


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