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COST OF HOME REPAIRS INCREASES BY 3.35% FROM Q3 2023 ACCORDING TO THE Q3 2024 VERISK REMODEL INDEX

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Price increases continue to slow down after post-COVID surge, but have risen almost 70% in the past decade The cost of home repairs and remodeling in the third quarter of 2024 continued to increase, rising by 1.08% from the prior quarter and just over 3.35% from the third quarter of 2023 according to the Q3 2024 Verisk Remodel Index. Costs set new highs for the past decade, rising over 69.5% from the first quarter of 2013. The Verisk Remodel Index tracks costs on 31 different categories of home repair, covering over 10,000 line items ranging from appliances to windows. Data are compiled monthly in over 430 local market areas across the country. “Repair and remodeling costs continue to increase across the country, but the rate of increase is returning to pre-pandemic levels,” said Greg Pyne, VP, Pricing for Verisk Property Estimating Solutions. “In the most recent quarter, those increases appear to have been driven largely by increased labor costs rather than rising material prices.” The two categories reporting the highest quarterly increases – painting the exterior of a home, which rose 3.36%, and replacing tile flooring, which rose 2.18% – are two jobs where labor costs comprise a very high percentage of the cost of the job. Almost 55% of exterior painting costs are from labor, while almost 64% of the cost of replacing tile flooring is from labor. Quarterly cost trends varied across the 31 categories included in the report: prices increased in nine categories; stayed the same in eight; and decreased in 14. Some notable changes in costs: Concrete and Asphalt, which accounts for about three percent of repair costs nationally, saw costs rise by 0.12%, the highest increase among all the categories; Siding, which makes up the largest percentage of costs, rose 0.7%; and Cabinetry had the largest quarterly decrease in costs, falling by 0.11%. Quarter-over-quarter repair and remodeling costs rose more quickly than home prices during the same period, up 1.08% compared to a 0.2% quarterly increase according to price information reported by ATTOM in its Q3 2024 Home Sales Report. Conversely, home prices rose at a brisker pace than repair and replacement costs over the past year – 5.3% to 3.35%. Both home prices and repair costs outpaced the rate of inflation in the third quarter, when the government’s Consumer Price Index sat at 2.1% and the Personal Consumption Expenditure Index was 2.2%. South Atlantic and Mountain States Have Highest Quarterly and Annual Gains All regions again experienced cost increases both quarterly and annually. Quarterly increases ranged from a low of 0.84% in the East South Central and West South Central Regions to 1.21% in the Mountain Region. All regions experienced annual increases of over three percent, ranging from a low of 3.03% in the West South Central Region to 3.68% in the South Atlantic Region. These numbers confirm that repair and remodel costs may be moderating, according to Pyne. “A year ago, annual increases were over five percent in every region, and over six percent in the East North Central, Mountain, and New England Regions. So it does appear that while prices continue to rise, they’re doing so at a slower pace.” Q1-Q2 2024 Q2-Q3 2023 Q3 2023-2024 East North Central 1.12% 0.94% 3.26% East South Central 1.14% 0.84% 3.23% Mid-Atlantic 0.95% 0.90% 3.08% Mountain 1.21% 1.21% 3.58% New England 1.09% 0.86% 3.24% Pacific 1.03% 0.90% 3.04% South Atlantic 1.03% 1.49% 3.68% West North Central 1.19% 1.17% 3.48% West South Central 1.01% 0.84% 3.03% Northeastern States Have Both the Highest and Lowest Rates of Increase Washington, D.C. had the highest quarterly rate of increase in the country at 3.76%, the only area to surpass a two percent increase for the reporting period. Delaware (1.95%), Utah (1.79%) and Kansas (1.66%) and Montana (1.59%) all reported increases over 1.5%. Kentucky had the lowest rate of cost increases at 0.62%, followed by Oklahoma (0.66%), Arizona (0.68%), Arkansas (0.70%), and Mississippi (0.70%). Methodology The Verisk Remodel Index tracks costs on 31 different categories of home repair, comprising over 10,000-line items including appliances, doors, framing, plumbing, windows. Prices are compiled and updated monthly in over 430 local market areas across the country. The index cost basis is January 2013, and the report is updated quarterly. About Verisk Verisk is a leading strategic data analytics and technology partner to the global insurance industry. It empowers clients to strengthen operating efficiency, improve underwriting and claims outcomes, combat fraud and make informed decisions about global risks, including climate change, extreme events, ESG and political issues. Through advanced data analytics, software, scientific research and deep industry knowledge, Verisk helps build global resilience for individuals, communities and businesses. With teams across more than 20 countries, Verisk consistently earns certification by Great Place to Work and fosters an inclusive culture where all team members feel they belong. Verisk is traded on the Nasdaq exchange and is a part of the S&P 500 Index and the Nasdaq-100 Index. For more information, please visit www.verisk.com. Contact: Rick Sharga CJ Patrick Company (949) 322-4583 rick.sharga@cjpatrick.com Author admin View all posts

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Redfin reports that this year marked the first time since 2010 that low-risk homes across three major climate categories—heat, fire and flood—gained value faster than high-risk homes. That may be a sign Americans are growing more responsive to natural disasters. For the first time since 2010, homes facing low risk from natural disasters are rising in value faster than homes facing high risk, according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage. While these differences are small, they are notable because this year marked the first time since 2010 that low-risk homes across all three categories—heat, flood and fire—rose in value faster than high-risk homes. Low-risk homes across all three risk categories have been gaining value faster than high-risk homes since February 2024. This is the first time Redfin is reporting the trend. “The fact that this is happening across risk types—and thus, across the country—is some of the best evidence we have that climate change is impacting people’s homebuying decisions,” said Redfin Senior Economist Elijah de la Campa. “With climate catastrophes becoming increasingly frequent and calamitous, many people have decided they don’t want to live in risky areas. And with insurance costs skyrocketing, many risky areas that were once affordable have become prohibitively expensive. The reality of climate change is setting in and it’s causing a reckoning; people are putting disaster risk higher on their list of considerations when looking for a home.” Recent shifts in where Americans are choosing to live also indicate that people may be growing more responsive to climate risk. In California, high-fire-risk areas saw more people leave than move in last year—a reversal from the prior year. Additionally, a Redfin-commissioned survey conducted by Ipsos in October found that nearly one-third of young adults say Hurricane Helene made them reconsider where they want to live in the future. One reason the value of low-risk homes is rising faster than the value of high-risk homes is that Florida and Texas—which both face high natural disaster risk—have seen among the slowest home value growth in the nation over the last year. In some areas, including hurricane-prone parts of Florida, that’s likely due to natural disaster risk itself. But it’s also because the rising cost of other things, like insurance and property taxes, has hurt demand. Additionally, Florida and Texas are building more homes than anywhere else in the country, putting a lid on value growth. While climate risk has become a top consideration for some house hunters, that’s certainly not the case for everyone. There are still more people moving into than out of disaster-prone America as a whole, which is one reason home values in disaster-prone areas continue to climb. Home Values in High-Risk Areas Are Still Up More Than 60% Since Before the Pandemic The value of both high- and low-risk homes is up substantially from before the pandemic—largely due to the 2020-2021 homebuying frenzy—but it’s up most for high-risk homes: The value of the U.S. housing market skyrocketed during the pandemic as fierce homebuying demand—driven by record-low mortgage rates—caused buyers to bid up values. Some of the fiercest competition occurred in the Sun Belt, as the region’s relatively affordable housing attracted hordes of homebuyers from more expensive states. But the Sun Belt is home to many places prone to flooding, extreme heat and/or fires, including Florida, Arizona and Texas. Home values in disaster-prone areas continue to rise in part because there’s still demand for homes in these areas. Some people relocate to disaster-prone areas because many of those areas are relatively affordable. Home values in both risky and non-risky areas also continue to rise because the mortgage rate lock-in effect has exacerbated America’s shortage of homes for sale, putting upward pressure on values. This is based on a Redfin analysis of climate-risk scores from First Street and Redfin Estimates for roughly 93 million U.S. residential properties as of June 2024. Year-ago values represent June 2023, and pre-pandemic values represent June 2019. This data is subject to revision. Roughly 58 million U.S. homes face high heat risk, while roughly 15 million face high fire risk and roughly 13 million face high flood risk. Please note that some homes face more than one type of risk. To view the full report, including charts and more details on methodology, please visit: https://www.redfin.com/news/home-values-climate-risk-2024/ Contacts Contact RedfinRedfin Journalist Services:Isabelle Novakpress@redfin.com Author admin View all posts

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Obie, a leader in modern insurance solutions for real estate investors, is proud to announce the launch of its Tenant Legal Liability (TLL) policy — a streamlined coverage option for protecting rental properties and their owners against tenant-related damage. TLL coverage seamlessly integrates into Obie’s online quoting platform at the time of new business, making adding this protection as simple as selecting a single checkbox. Obie’s TLL policy is among the first of its kind, offering landlords an additional layer of protection independent of tenant insurance requirements. By centralizing TLL within a landlord’s existing insurance plan, Obie simplifies policy management with a single bill, reducing administrative tasks and enabling investors to protect their portfolios with minimal effort. “Real estate investing often brings unforeseen challenges, and with the TLL policy, we’re delivering a solution that meets our customers’ needs for comprehensive, easy-to-manage coverage,” said Laura Olson, Chief Insurance Officer at Obie. To counteract these uncertainties, the TLL policy provides landlords additional coverage of up to $100,000 per occurrence, addressing scenarios where the tenant’s renters insurance may be inadequate or nonexistent. Specifically, this policy covers sudden and accidental tenant-caused damage to the property and landlord-owned furnishings. With no deductible, the TLL policy ensures that landlords face no out-of-pocket costs for covered incidents, providing a reliable, cost-effective layer of protection that integrates easily with existing Obie policies. Discover more about Obie’s TLL policy by exploring our FAQs, or take the next step toward enhanced insurance coverage with a quick, personalized quote today. Author admin View all posts

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Zillow Group, Inc. (Nasdaq: Z and ZG), which is transforming the way people buy, sell, rent and finance homes, announced that tenured Zillow executive Jun Choo has been promoted to chief operating officer (COO). In this role, Choo will now oversee Zillow’s for sale business strategy and operations including Enhanced Markets and Mortgages in addition to the company’s real estate industry product lines, sales and operations. Choo joined Zillow Group in 2015 through the company’s acquisition of Trulia and has more than two decades of leadership and go-to-market experience in the real estate tech space. He has held leadership and strategy roles throughout sales, marketing and software over the last decade at Zillow. Most recently, he was Senior Vice President of Real Estate Software which encompasses Zillow Premier Agent sales, ShowingTime, dotloop, Zillow Showcase, Aryeo and other key B2B offerings for agents, brokers and multiple listing services. “Jun has long been an instrumental leader in our company, consistently creating and scaling innovative solutions across our business,” said Zillow Group CEO Jeremy Wacksman. “He has been a key driver of our numerous technology investments to digitize the industry. Under his leadership, we will expand the integrated transaction experience to more customers – agents, movers, and industry professionals – and offer them a better way to transact in real estate.” Throughout Choo’s tenure at Zillow Group, he has propelled the company’s mission forward – creating the integral Connections platform, inventing Premier Agent market-based pricing, and spearheading the ideation, development, and nationwide launch of the unparalleled Zillow Showcase product. Choo’s numerous accomplishments at Zillow are all anchored in identifying core customer needs, building excellent products to meet those needs, and rallying teams around bringing them to market effectively. “I’m honored to step into this role and continue supporting our company’s growth. With more than two-thirds of U.S. homebuyers on Zillow, we are seizing our incredible opportunity to deliver a more tech-enabled and integrated experience to get more people home,” says Choo. “Our industry software offerings are unmatched and we will continue to invest in new solutions that help modernize the real estate experience through Zillow’s housing super app.” In addition to Choo’s appointment, Susan Daimler and Matt Daimler, president of Zillow and senior vice president of product, respectively, have decided to leave Zillow. “We’re grateful for both Susan and Matt’s many contributions and leadership over the last 12 years,” said Wacksman. “They’ve each had a tremendous impact on Zillow’s growth and success and we wish them all the best.” SOURCE Zillow Group, Inc. Author admin View all posts

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Home Sales Were Unseasonably Strong While Inventory Climbed October home sales bucked seasonal trends and posted a 6.7% increase over September and were 8.4% higher year-over-year. Year to date, 2024 home sales have exceeded 2023 levels in six of 10 months. Though new listings were down 0.7% from September, they were 14.8% higher than October 2023. October’s active inventory grew just 0.6% from September – the lowest month-to-month increase since February – but was much higher, up 28.4%, year over year. October’s median sale price increased just 0.3% from September – and for the 16th consecutive month, experienced a year-over-year increase, climbing 4.9% higher than October 2023 ($410,000 to $430,000). “October brought some encouraging momentum,” said RE/MAX, LLC President Amy Lessinger. “Buyers took advantage of lower mortgage rates and closed deals. Although rising inventory levels are still falling short of demand, it’s great to see motivated buyers moving forward and achieving homeownership.” Of the 52 metro markets surveyed, San Antonio, Texas experienced one of the largest year-over-year increases in home sales – jumping 24.6%. RE/MAX Unlimited Broker Associate Sara Briseño Gerrish said the market also saw an increase in inventory. “It would make sense that as we move towards a more balanced market, and we are experiencing stable prices, we would also see increased sales. San Antonio is still the most affordable metropolitan area in Texas.” Other metrics of note: Highlights and local market results for October include: New Listings In the 52 metro areas surveyed in October 2024, the number of newly listed homes was down 0.7% compared to September 2024 and up 14.8% compared to October 2023. The markets with the biggest increase in year-over-year new listings percentage were Las Vegas, NV at +40.1%, Phoenix, AZ at +38.5%, and Bozeman, MT at +37.3%. The markets with the biggest year-over-year decrease in new listings percentage were Tampa, FL at -42.4%, San Francisco, CA at -9.1%, and Manchester, NH at -2.1%. New Listings:5 Markets with the Biggest YoY Increase Market Oct 2024 Oct 2023 Year-over-Year % Change Las Vegas, NV 4,303 3,072 +40.1 % Phoenix, AZ 9,415 6,800 +38.5 % Bozeman, MT 210 153 +37.3 % Denver, CO 4,663 3,422 +36.3 % Kansas City, MO 3,612 2,670 +35.3 % Closed TransactionsOf the 52 metro areas surveyed in October 2024, the overall number of home sales was up 6.7% compared to September 2024, and up 8.4% compared to October 2023. The markets with the biggest increase in year-over-year sales percentages were Seattle, WA at +27.4%, San Antonio, TX at +24.6%, and Denver, CO at +22.9%. The markets with the biggest decrease in year-over-year sales percentage were Tampa, FL at -15.7%, Miami, FL at -10.0%, and Orlando, FL at -9.3%. Closed Transactions:5 Markets with the Biggest YoY Increase Market Oct 2024 Oct 2023 Year-over-Year % Change Seattle, WA 4,399 3,454 +27.4 % San Antonio, TX 2,694 2,162 +24.6 % Denver, CO 3,547 2,885 +22.9 % Las Vegas, NV 2,618 2,191 +19.5 % Fayetteville, AR 957 805 +18.9 % Median Sales Price – Median of 52 metro area pricesIn October 2024, the median of all 52 metro area sales prices was $430,000, up 0.3% compared to September 2024, and up 4.9% from October 2023. The markets with the biggest year-over-year increase in median sales price were Dover, DE at +15.7%, Milwaukee, WI at +12.1%, and St. Louis, MO at +11.3%. The markets with the biggest year-over-year decrease in median sales price were Coeur d’Alene, ID at -2.1% followed by San Antonio, TX and Tulsa, OK, tied at -1.9%. Median Sales Price:5 Markets with the Biggest YoY Increase Market Oct 2024 Oct 2023 Year-over-Year % Change Dover, DE $364,000 $315,000 +15.7 % Milwaukee, WI $350,000 $312,000 +12.1 % St. Louis, MO $276,000 $248,000 +11.3 % Trenton, NJ $455,000 $415,000 +9.6 % New York, NY $610,000 $560,000 +8.9 % Close-to-List Price Ratio – Average of 52 metro area pricesIn October 2024, the average close-to-list price ratio of all 52 metro areas in the report was 99%, the same as in both September 2024 and October 2023. The close-to-list price ratio is calculated by the average value of the sales price divided by the list price for each transaction. When the number is above 100%, the home closed for more than the list price. If it’s less than 100%, the home sold for less than the list price. The metro areas with the lowest close-to-list price ratio were Miami, FL at 94.0%, Coeur d’Alene, ID at 96.0% and Bozeman, MT at 96.5%. The metro areas with the highest close-to-list price ratios were San Francisco, CA at 103.5%, Hartford, CT at 102.3%, and Trenton, NJ at 102.1%. Close-to-List Price Ratio:5 Markets with the Lowest Close-to-List Price Ratio Market Oct 2024 Oct 2023 Year-over-Year Difference* Miami, FL 94.0 % 95.3 % -1.3 pp Coeur d’Alene, ID 96.0 % 97.0 % -1.0 pp Bozeman, MT 96.5 % 96.2 % +0.3 pp Tampa, FL 96.7 % 97.6 % -0.9 pp Orlando, FL 97.1 % 97.6 % -0.5 pp *Difference displayed as change in percentage points Days on Market – Average of 52 metro areasThe average days on market for homes sold in October 2024 was 42, up two days compared to the average in September 2024, and up six days compared to October 2023. The metro areas with the highest days on market averages were in Coeur d’Alene, ID at 81, Fayetteville, AR at 77, and San Antonio, TX at 72. The lowest days on market were Baltimore, MD at 15, Washington, D.C. at 16, and Trenton, NJ at 17. Days on market is the number of days between when a home is first listed in an MLS and a sales contract is signed. Days on Market:5 Markets with the Highest Days on Market Market Oct 2024 Oct 2023 Year-over-Year % Change Coeur d’Alene, ID 81 78 +4.0 % Fayetteville, AR 77 73 +6.4 % San Antonio, TX 75 70 +7.3 % Bozeman, MT 72 77 -6.0 % Tampa, FL 72 43 +64.7 % Months’ Supply of Inventory – Average of 52 metro areasThe number of homes for sale in October 2024 was up 0.6% from September 2024 and up 28.4% from October 2023. Based on the rate of home sales in October 2024, the months’ supply of inventory was 2.6, down from 2.7 in September 2024, and up from 2.3 in October 2023. In September 2024, the markets with the lowest months’ supply of inventory were Manchester, NH and Hartford, CT, tied at 1.0 and Trenton, NJ and Seattle, WA, tied at 1.1. The markets with the highest months’ supply of inventory were Miami, FL at 6.8, San Antonio, TX at 5.2, and Bozeman, MT and Tampa, FL, tied at 4.8. Months’ Supply of Inventory:5 Markets with the Lowest Months’ Supply of Inventory Market Oct 2024 Oct 2023 Year-over-Year % Change Manchester, NH 1.0 0.9

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New commitment bolsters the Foundation’s progress toward $750 million investment by 2030 In honor of Veterans Day and the annual Operation Surprise initiative, The Home Depot Foundation is investing $10 million to help veterans age in their current residences and avoid homelessness. This significant funding will address the urgent need for accessible and stable housing for aging veterans, a population that is expected to surge in the coming decades. According to recent projections from the Department of Veterans Affairs (VA), the number of veterans over the age of 85 who require care will increase by a staggering 535% over the next 20 years. Research also indicates that homelessness among individuals aged 65 and older will reach its peak by 2030, with veterans being disproportionately affected compared to the general population. While veteran homelessness has decreased by 55% over the past decade, it began to rise again in 2023. “As veterans age, small accessibility modifications can mean the difference between remaining in their own homes versus being displaced,” said Erin Izen, executive director of The Home Depot Foundation. “With this new $10 million investment, The Home Depot Foundation is proud to further our support of our nonprofit partners improving veteran housing across the country, helping veterans safely maintain their independence for years to come.” The funding announced today will facilitate: “The generous investment from The Home Depot Foundation is an important step forward in our shared mission to support and uplift our veterans through housing,” said Stephen Peck, CEO of U.S.VETS. “We are honored to be a partner in this initiative to expand affordable, accessible supportive housing that meets the needs of those who have bravely served our nation.” In celebration of its annual Operation Surprise initiative, The Home Depot Foundation and Team Depot, The Home Depot’s associate volunteer force, will undertake hundreds of service projects nationwide to enhance the safety and accessibility of veterans’ homes. Throughout the month of November, Team Depot will focus on making veteran housing safer, more accessible and livable for the long run. Beyond physical improvements, Team Depot will also deliver special moments of appreciation to honor those who have served. On Veterans Day last year, The Home Depot Foundation announced it had surpassed $500 million invested in veteran causes since 2011, meeting its previous financial commitment two years early. The Foundation also laid out plans to grow its mission to serve those who served with an updated commitment of $750 million to veteran causes by 2030. Through this incremental $250 million commitment, the Foundation, its nonprofit partners and Team Depot will focus primarily on affordable housing issues and will impact an estimated 50,000 veterans. The Home Depot is proud to have tens of thousands of veterans, service members and military spouses in orange aprons. To learn more about The Home Depot’s commitment to the veteran and military communities, visit homedepot.com/military. Follow #OperationSurprise to see how the Foundation and Team Depot are making homes more welcoming for veterans across the country. About The Home Depot FoundationThe Home Depot Foundation, the nonprofit arm of The Home Depot (NYSE: HD), works to improve the homes and lives of U.S. veterans, support communities impacted by natural disasters and train skilled tradespeople to fill the labor gap. Since 2011, the Foundation has invested more than $550 million in veteran causes and improved more than 65,000 veteran homes and facilities. The Foundation has pledged to invest $750 million in veteran causes by 2030 and $50 million in training the next generation of skilled tradespeople through the Path to Pro program by 2028. To learn more about The Home Depot Foundation visit HomeDepotFoundation.org and follow us on Twitter @HomeDepotFound and on Facebook and Instagram @HomeDepotFoundation. SOURCE The Home Depot Foundation Author admin View all posts