The first three months of the year proved to be a boon for Realogy Holdings Corp, which was able to carry some of its momentum from last year in the first quarter of 2021 and tally significant revenue growth in Q1 2022.
According to its latest earnings report, the company earned $1.6 billion in revenue in Q1 2022, tallying a 6% increase from the same period last year and a company record for first-quarter performance to boot.
Real GDP, the most accurate measure of a country’s broad economic growth, shrunk for the first time in two years this past quarter, with the economy contracting 1.4%, a sharp reversal from last year, when GDP rose 6.9% in Q4 2021.
Hampered at least somewhat by the Omicron wave early this year, the drop this quarter stemmed from a significant decrease in exports, which fell 5.9%, along with a 2.5% drop in non-durable goods. The report, released by the Department of Commerce, also cites a decrease in government spending as COVID-related relief sunsetted at the beginning of 2022.
The National Association of Home Builders (NAHB) yesterday addressed a letter to President Joe Biden urging the federal government to take immediate action in the face of a housing market “inflection point that threatens to derail the current housing and economic expansion.”
Mortgage rates edged down this week, but only slightly and remaining above the 5% mark, according to the results of this week’s Primary Mortgage Market Survey® (PMMS®) from Freddie Mac, released Thursday.
The survey shows the 30-year fixed-rate mortgage (FRM) averaged 5.10% this week.
The National Association of REALTORS® and realtor.com® honored the four inaugural winners of the first Fair Housing Champion Awards during NAR’s Fair Housing Month event, “What Will it Take to Close the Racial Homeownership Gap?” Honorees were recognized for their work to increase access to homeownership in their communities.
Sponsored by realtor.com®, the award provides a $4,000 prize that winners can dedicate to a housing-related nonprofit organization of their choice.