Zillow announced today it’s ending its iBuyer service, Zillow Offers, and cutting roughly a quarter of its workforce, citing the volatility the service created for the online brokerage as the motivation for the move.

Millennials are purchasing houses — finally. Over the past year, millennials made up the largest share of homebuyers: 37% according to Barron’s.

“Contract transactions slowed a bit in September and are showing signs of a calmer home price trend, as the market is running comfortably ahead of pre-pandemic activity.” — NAR chief economist Lawrence Yun

Home-price gains were once again broadly distributed, as all 20 cities in the S&P CoreLogic Case-Shiller Home Price Index rose, although in most cases at a slower rate than a month ago.

It’s been a more than a year and a half of technological innovation in real estate in response to the COVID-19 pandemic, and the Federal Housing Finance Agency has decided to make one tool — desktop appraisals — permanent.

Pet ownership increased dramatically during the pandemic. 73% of homeowners report at least one pet in the home.

“There simply aren’t enough homes for sale relative to the demand fueled by millennials armed with low mortgage rate-driven house-buying power.” — First American Deputy Chief Economist Odeta Kushi

The median existing-home price for all housing types in September was $352,800, up 13.3% on an annual basis, as every region in the country registered price increases.

Atlanta wasn’t the only Georgia community on the 2021 list. Savannah also made the rankings.

The decrease was driven by a 5.1% month-over-month slide in the rate of multifamily starts, while single-family construction was flat.

Days on market rose 10% from August, and months supply of inventory jumped 16.7%, according to RE/MAX’s National Housing Report for September. 

Zillow announced it will not sign any new contracts to buy homes until the end of the year due to a “backlog in renovations and operational capacity constraints.”

The acquiring group includes First Multiple Listing Service in Atlanta, MIAMI REALTORS®, ACTRIS MLS in Austin, Texas, and Heartland MLS in Kansas City.

At 37 years old, the new president will be the second-youngest leader of the national nonprofit trade organization, which works to improve the homeownership rate in the Asian-American Pacific Islander community.

Days on market in the city, meanwhile, dropped to 48 days from 60 days.

The median household wealth for U.S. Latinos is set to triple by 2024 — largely due to recent real estate gains. This information comes from data released by NAHREP®.