The latest quarterly report from the National Association of Realtors (NAR) shows home purchasing power remained high in the first quarter even as median prices continued their upward trend. Nationally, the median existing single-family home price was $176,600, up 11.3 percent year-over-year--the strongest yearly price increase since the fourth quarter of 2005, when the national median price jumped 13.6 percent over the prior year.
Read More »Commerce Mortgage Adds Branch in Carlsbad
Commerce Mortgage, a leading provider of mortgage services in the Western United States, announced the opening of its newest branch in Carlsbad, California.
Read More »LendingTree Launches New Ad Campaign
LendingTree, an online source for competitive home loan offers, announced the official launch of a new advertising campaign which will run across all marketing channels, including television, radio, print, online, direct marketing, and social media.
Read More »Inventory Shortage Hinders Growth in Home Tours
A shortage of homes on the market hamstrung home touring activity in April, but buyers still seem determined to get their offers in, according to Redfin. The brokerage's Real-Time Demand Pulse--a monthly analysis of tour and offer activity from homebuyers across 20 U.S. markets--shows tour requests and signed offers posted stronger monthly gains in April than they did at the same time last year. However, a lack of available homes "softened touring strength somewhat."
Read More »Initial Unemployment Claims Continue to Fall
First-time claims for unemployment insurance for the week ending May 4 dropped 4,000 to 323,000-- once again, the lowest level in more than five years, the Labor Department reported Thursday. Economists expected initial claims to increase to 335,000. First-time jobless claims for the week ending April 27 were revised up to 327,000 from the originally reported 324,000.
Read More »Ellie Mae Names SVP of Software Development
Ellie Mae has a new SVP of software development. The California-based automated solutions provider announced Vivian Wong has joined the company.
Read More »CoreLogic: Home Price Gains Accelerate to 7-Year High in March
Including distressed sales, home prices rose 10.5 percent year-over-year in March, marking the biggest annual gain in seven years, according to CoreLogic's Home Price Index (HPI). "For the first time since March 2006, both the overall index and the index that excludes distressed sales are above 10 percent year over year," said Dr. Mark Fleming, chief economist for CoreLogic. "The pace of appreciation has been accelerating throughout 2012 and so far in 2013 leading into the home buying season."
Read More »Former CFPB Attorney Joins Team at Venable
A former attorney for the Consumer Financial Protection Bureau (CFPB) has joined Venable LLP as a partner in its Washington, D.C., office, the firm announced. Allyson Baker was among the initial team of enforcement attorneys at CFPB, helping to formulate agency policies regarding investigations and litigation in the aftermath of the financial crisis.
Read More »Carrington Holding Company Brings All Units Under Brand Umbrella
In California, Carrington Holding Company, LLC is renaming several of its businesses as part of an initiative designed to bring the entire Carrington family of companies under a single brand umbrella.
Read More »ALTA Awards National Title Professional Designations
The American Land Title Association (ALTA), the national trade association for the land title insurance industry, awarded three National Title Professional (NTP) designations Tuesday during its Federal Conference in Washington, D.C.
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