It is not often that you can so easily capture hundreds of years of racial discrimination in the view from one street. But in the city of St. Louis, Missouri, along a line called the Delmar Divide, it barely takes a glance.
Coming off one of the best years in real estate history, several companies that capitalized on 2021’s tailwinds made their way onto the 2022 Fortune 500.
The list, released Monday, ranked companies by their revenues in their fiscal year of 2021, with a threshold of $6.4 billion—up 19% from the year prior. It was a strong-showing year for tech-focused real estate companies such as Zillow, Opendoor and Compass, which debuted on this year’s list.
Mortgage applications decreased 1.2% from one week earlier, according to this week’s Mortgage Applications Survey from the Mortgage Bankers Association (MBA). The drop marks a second week of declines after several consecutive gains in the 2% range, indicating that rising rates, economic uncertainty and continued low inventory may be putting a longer-term damper on both refinancing and new mortgages.
As affordability challenges continue to strain the pool of prospective buyers, new data from realtor.com® indicates that relocating is growing in popularity among house hunters looking to move out and up.
While inventory constraints continue to weigh on the spring market, a May 24th survey showed that buyers continue to be squeezed out of the market as elevated inflation and climbing home prices influence their home searches and buying patterns.
Before a buyer can even consider which home they want to buy, they must first decide what type of neighborhood they want to live in. According to research conducted by Zillow, the types of neighborhoods that buyers prefer is changing. Market gauging of buyer interest has caused a reversal of the norm, where during Q1 2022, the values of suburban homes grew faster than the value of urban area homes.