Dave Gallagher

Bellingham

Director and News Reporting at Real Estate News

Director, news reporting, Real Estate News

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Articles

Compass CEO trumpets growth - and seller choice

6 days ago | realestatenews.com | AJ LaTrace |Dave Gallagher

Compass CEO Robert Reffkin reiterated the brokerage's commitment to seller choice when it comes to private listings and pre-marketing during the company's first-quarter earnings call on May 8. But Reffkin also highlighted a number of positive metrics, including major year-over-year upticks in revenue, transactions and principal agents. "I'm pleased to share that in the first quarter, the gap between Compass and the industry continued to widen," Reffkin told investors.
Two key real estate bills take aim at industry regulations

1 week ago | realestatenews.com | Dave Gallagher

It's the middle of legislative season in state capitals across the U.S., and some of the bills under consideration could have significant impacts on the real estate industry, including measures in Texas and Florida that take aim at industry regulations. Texas targets NAR speech code: A proposed law in the Lonestar State — SB 2713 — would affect trade groups with standards or codes of ethics around hate speech.
Mortgage rates tick down - but will the drop entice buyers?

2 weeks ago | realestatenews.com | Dave Gallagher

Key points:The 30-year fixed-rate mortgage averaged 6.76% this week, the second straight week of declines following a spike in rates last month. While pending home sales showed some positive signs in March, mortgage applications slowed in April. Experts say the recent increase in inventory is a sign that the housing market is still rebalancing.
Is it starting to look rosy for buyers this spring?

2 weeks ago | realestatenews.com | Dave Gallagher

The intensity appears to be dialing back in the Mid-Atlantic real estate market, which is good news for homebuyers who want to solidify a deal this spring. A new Bright MLS survey conducted among about 3,000 agents found that fewer bidding wars took place in the region — which includes Washington, D.C. — during the first quarter of 2025. With inventory on the rise, this spring has been favorable for buyers.
Homes.com looks to gain ‘solid’ leadership position in 2-4 years

2 weeks ago | realestatenews.com | Dave Gallagher

CoStar is looking to take advantage of the changing landscape in residential real estate by continuing to push the message of how its search portal — Homes.com — differs from its rivals.
Hope for home sales wanes in revised forecast

2 weeks ago | realestatenews.com | Dave Gallagher

Forecasters at Fannie Mae are expecting a slower real estate market than anticipated in 2025 as more potential homebuyers stay on the sidelines amid the current economic slowdown. Fannie Mae's latest Economic and Housing Outlook predicts 30-year mortgage rates will slowly but steadily decline before dropping to 6.2% by the end of the year.
Zillow gains more support for new listing policy

2 weeks ago | realestatenews.com | Dave Gallagher

Zillow is continuing to win industry approval for its new policy barring property listings that are publicly marketed but withheld from the MLS and IDX feeds. West USA Realty, an Arizona-based regional real estate brokerage with more than 3,000 agents, announced its support for Zillow's new listing standards this week. It is the third brokerage to endorse the policy change.
Can an ‘AI agent’ get homebuyers to the finish line?

2 weeks ago | realestatenews.com | Dave Gallagher

A new artificial intelligence platform designed to help buyers purchase a home — without an agent — is getting a trial run in one of the country's biggest real estate markets. This week, Homa launched in Florida, positioning itself as an AI-powered alternative to a buyer's agent. The pitch? "Make offers on your terms, without agent pressure" — and no commissions fee — the website states. Notably, the company is only focused on buyers and made it clear that it's not trying to replace listing agents.
Existing sales lethargic in March despite slowing price growth

3 weeks ago | realestatenews.com | Dave Gallagher

Key points:Existing home sales fell 5.9% from February to March and 2.4% year-over-year, according to NAR. The decline came even as mortgage rates were trending down, suggesting that buyers are hesitant to act amid concerns about the economy and personal finances. To entice wary buyers, sellers "may need to price lower than your initial instinct to sell quickly and avoid giving concessions," a Redfin economist said.
New home sales experience ‘surprising’ boost

3 weeks ago | realestatenews.com | Dave Gallagher

Despite the economic uncertainty that existed even before the White House announced new tariffs in early April, homebuyers appeared to take advantage of last month's lower mortgage rates by snapping up new — and smaller — homes. New home sales were at a seasonally adjusted annual rate of 724,000 in March, the highest rate since September 2024. Last month's sales were up 7.4% compared to February and 6% compared to March 2024, according to the U.S. Census Bureau.