Economic downturn could put a damper on a promising start to the spring homebuying season, but set the stage for mortgage rates to ease and for home sales to rebound in 2024.

An MBA survey shows demand for purchase loans is down 18 percent week over week and 41 percent from a year ago as mortgage rates rise for the second week in a row.

Buyers are navigating a stable housing market and making well-informed offers while sellers are leaning into a low-inventory environment, according to new data and agents who spoke to Inman.

The deal is touted as a way to give mortgage lenders critical information about borrowers and properties at the beginning of the loan process.

Team members who are achieving their goals don’t leave. If an agent leaves because they don’t like accountability and are not achieving their goals, then love them as they go out the door, writes Leslie Guiley.

Matterport earned $136.1 million in 2022, which wasn’t enough to offset $26.5 million in losses for the final three months of 2022 and $116.6 million for the year, according to the company’s latest earnings release on Wednesday. That was more than double the $46.9 million in losses Matterport reported in 2021.

In its latest real estate market report on Wednesday, Redfin said the total market value for U.S. homes dropped $2.3 trillion from June to December 2022 — the largest six-month drop since the Great Recession.

The three-person Nielsen Group brings a collective 25 years of industry experience and an average annual sales volume of over $50 million to Engel & Völkers.

Offerpad sold more than 10,000 homes last year for the first time in company history, but posted a record $121.1 million fourth-quarter loss, according to an earnings call for the iBuyer on Wednesday.

LAH Real Estate Inc. was originally founded in 1992. The new affiliate brings its four offices to Sotheby’s, ticking the brand’s total office count in Alabama up to seven.