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Toll Brothers, the bell that tolls for luxury market

Toll Brothers, the largest U.S. luxury homebuilder, reported purchase agreements fell 3% nationally in the third quarter from a year earlier, and in California, where some of its priciest developments are located, contracts plummeted 36%. Toll’s average home price was…

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Southwest sees fastest single-family rent increase

Last month, we reported that Phoenix led the nation in multifamily rent growth. Now, according to a recent report from CoreLogic, single-family homes are following suit as rent prices are increasing the fastest in the Southwest. Phoenix had the highest year-over-year…

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Airbnb takes over 20% of housing in one Arizona city

Airbnb vacation rentals took over one city in Arizona, frustrating its citizens and causing business leaders to speak out. It is now estimated that about 1,000 homes, or 20% of the city’s total housing inventory, are being used as short-term…

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Airbnb takes over 20% of housing in Arizona housing

Airbnb vacation rentals took over one city in Arizona, frustrating its citizens and causing business leaders to speak out. It is now estimated that about 1,000 homes, or 20% of the city’s total housing inventory, are being used as short-term…

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Low mortgage rates spur gain in July's existing home sales

Existing-home sales rose in July from the prior month, increasing nearly 2.5%, according to the latest report from the National Association of Realtors. NAR Chief Economist Lawrence Yun said falling mortgage rates are improving housing affordability and nudging buyers into…

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Douglas Elliman launches in Texas

Douglas Elliman Real Estate, the top brokerage in the New York metro area, is expanding into Texas. On Tuesday the brokerage announced a joint venture with Sudhoff, a company based in Houston that specializes in luxury high-rise condominiums. Jacob Sudhoff,…

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Zillow expands its coverage in Canada

Zillow was founded in the U.S. in 2006, and began expanding into Canada just last summer. And now, Zillow is partnering with more than 250 Canadian brokerages and franchisors to expand the Canadian real estate listings on its site. Source:…

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