News Updates

Evernest Acquires Property Management Division of Picket Homes

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Evernest, a national, full-service real estate and property management firm, announced the acquisition of certain assets of Elara, the property management division of Picket Homes. The acquisition solidifies Evernest’s position as one of the largest institutional third-party property management providers in the United States. With this acquisition, Evernest now manages 15,000 homes across more than 35 markets nationwide. “Evernest is committed to delivering unmatched value to our clients, and this acquisition represents a strategic milestone

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Pending sales posted a big year-over-year increase this week, partly because the boom in early-stage homebuying demand Redfin saw just after the election is translating to sales and partly because Redfin is comparing it to a period in 2023 that included Thanksgiving. U.S. pending home sales rose 12.1% year over year during the four weeks ending November 24, the biggest increase since May 2021. That’s according to a new report from Redfin

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Residential Lending Grows Just 2 Percent Even as Rates Keep Declining; Refinance and Home-Equity Deals Rise While Purchase Loans Decrease ATTOM, a leading curator of land, property data, and real estate analytics, released its third-quarter 2024 U.S. Residential Property Mortgage Origination Report, which shows that 1.67 million mortgages secured by residential property (1 to 4 units) were issued in the United States during the third quarter. That led to modest quarterly and annual increases of

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Economy Remains on Strong Footing, though Core Inflation Remains Sticky Existing home sales are now expected to rise only 4 percent next year from a 2024 pace that is on track for a nearly 30-year low, according to the November 2024 commentary from the Fannie Mae (OTCQB: FNMA) Economic and Strategic Research (ESR) Group. The downward revision to the existing home sales outlook, which was previously forecast to rise 11 percent in 2025, is

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Growing supply of multifamily housing suggests a 1.1% increase in rental stock to more than 49 million units by next fall, with the biggest increases in the South and West. Rents fell by -0.8% to $1,720 in October, marking their fifteenth consecutive month of year-over-year declines and falling the most for smaller-sized units, according to the Realtor.com® October Rental Report. Looking ahead, new rental properties coming onto the market are expected to put continued

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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%