A so-called “silver tsunami,” is set to hit the housing market over the next two decades, with the baby boomer generation expected to vacate currently occupied homes at a much higher rate, according to a new Zillow study.
An estimated 27 percent of currently owner-occupied homes are set to hit the market by 2037, according to the Zillow study. From 2007 to 2017, roughly 730,000 homes were released into the market by seniors aged 60 and older.
Entera, a real estate technology company that caters to investors, has secured a $7.5 million funding round, a prize that will position the company to expand into new markets, draw larger investors and grow its tech team and platform.
The funding round was led by Bullpen Capital and Craft Ventures, with additional participation from ValueStream Ventures and Chris Heller, the current chief real estate officer of OJO Labs and the former CEO of Keller Williams.
Real estate agents in the Mid-Atlantic region who are using pocket listings to market properties just got an extension before they’ll start facing major fines.
That’s because Bright MLS announced Monday that it is postponing until February plans to impose $5,000 penalties on agents who market properties without putting them in the multiple listing service (MLS). The postponement comes about a month after the trade organization — which has nearly 100,000 members in the Mid-Atlantic area — debuted a new rule requiring agents to add their listings to the MLS within 24 hours of publicizing them.
Phoenix Suns owner Robert Sarver just unloaded his Paradise Valley mansion in what has now become the most expensive sale in Arizona.
The 28,043-square-foot, five-bedroom estate sold for $19.25 million to an anonymous buyer represented by Walt Danley and Catherine Jacobson of Walt Danley Christie’s International Real Estate. The property sits at 5710 N. Yucca Road outside of Phoenix and has an indoor basketball court as well as panoramic views of Camelback Mountain.
Home prices rose 3.2 percent year-over-year in September after rising 3.1 percent year-over-year in August, according to the latest S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index.
The increasing annual price gain reverses a trend of deceleration, said Craig Lazzara, the managing director and global head of index investment strategy at S&P Dow Jones Indices, in a statement.