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Why new home sales are finally moderating

Housing Wire

Reports on housing data are headline-driven, and headlines are designed to cause folks to overreact in both positive and negative ways. But, we hadn’t seen that moderation in any meaningful way until today’s new home sales data. But, we hadn’t seen that moderation in any meaningful way until today’s new home sales data.

Sales 531
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Master planned communities post strong new home sales numbers in 2023

Housing Wire

According to a survey released Tuesday by John Burns Research & Consulting , the top 50 MPCs sold more than 34,600 new homes in 2023, up 24% from the nearly 28,000 sales in 2022. And in 2023, each of the top 50 communities sold at least 368 homes, although that’s fewer than the 2021 record of 460 sales per community.

Sales 482
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Rate adds Manginelli to lead sales coaching program

Housing Wire

The Chicago -based mortgage lender announced Tuesday that it’s bringing on Daniel Manginelli to lead its sales coaching program, which is designed to help mortgage professionals implement best practices and improve performance. He’s worked in sales and managerial roles, and has authored two books, during his more than 35-year career.

Sales 448
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Lower mortgage rates fueling existing home sales

Housing Wire

Existing home sales had a huge beat of estimates on Tuesday. To understand why we had such a beat in sales, you only need to go back to Nov. The weekly growth in purchase application data during those months stabilized housing sales to a historically low level. We understood why sales collapsed during COVID-19.

Sales 511
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Layoffs hit Sales Boomerang, Mortgage Coach

Housing Wire

Mortgage fintechs Sales Boomerang and Mortgage Coach reduced employee headcount by at least 20 this month as the industry struggles to stay afloat amid mortgage lenders rightsizing during one of the most challenging times. Sales Boomerang and Mortgage Coach declined to comment on the size and reason for the layoffs.

Sales 448
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NAR, Move named in new lawsuit alleging sale of fake leads

Housing Wire

Move Sales , OpCity Acquisitions , OpCity Inc. These processes (the ‘Unlawful Bundling’) are designed to amass a tremendous (and tremendously growing) database which the defendants then characterize as ‘leads,’” the complaint states. The suit claims that NAR, along with Move Inc., and REA Group Ltd.

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Mortgage tech firm TRAiNED hires two executives from Sales Boomerang

Housing Wire

TRAiNED named Mark Cunningham, a co-founder of Sales Boomerang , as its new CEO. It also hired Arend de Jong , co-founder and former chief financial officer of Sales Boomerang, as CFO, the company announced. He was named a 2021 HW Insider after Sales Boomerang debuted in the top 5% of the Inc. Mortgage tech firm TRAiNED Inc.

Sales 448