DOJ Expands Lawsuit Against RealPage, Housing Market Slows with Opportunities for Buyers, Taylor Morrison Named Most Trusted Builder for 10th Year

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RealPage: DOJ Expands Lawsuit

The U.S. Department of Justice is expanding its antitrust case against RealPage, adding six major property management companies to the lawsuit. On January 7th, the DOJ filed an amended complaint, accusing RealPage and its partners of using pricing algorithms to artificially inflate rent prices and stifle competition in the housing market.

The newly added defendants include some of the largest rental companies in the U.S., like Greystar, Camden, and Cushman, collectively managing over 1.3 million rental units nationwide. The DOJ claims the companies used RealPage’s software to coordinate pricing and hurt millions of American renters.

Acting Assistant Attorney General Doha Mekki says the aim is to stop these practices and make housing more affordable. The lawsuit also has backing from attorneys general in Illinois and Massachusetts.

RealPage has pushed back, calling the lawsuit “baseless” and defending its software, which it says helps manage rent based on market conditions. Meanwhile, one defendant, Cortland, has proposed a settlement that would end its involvement in the case.

Source: Link

Housing Market Slows with Opportunities for Buyers

December 2024 marked a slower-than-usual month for the housing market, typical of the holiday season. However, there are some bright spots for homebuyers. According to Realtor.com’s latest report, inventory of homes for sale grew by 22% compared to last year, continuing a 14-month streak of rising listings. Miami, San Diego, and Denver saw some of the highest increases in active listings.

Homes spent an average of 70 days on the market last month, the longest December in five years, signaling a slower pace. While this could be seen as a sign of caution, it also offers buyers more time to explore their options before the spring rush.

Additionally, while median home prices fell slightly by 1.8%, the price per square foot continues to rise, with notable increases in cities like Cleveland and Hartford.

With mortgage rates still hovering in the 7% range, buyers in certain metros may find opportunities to secure a deal before the market picks up again.

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Taylor Morrison Named Most Trusted Builder for 10th Year

National homebuilder and land developer Taylor Morrison has been honored as America’s Most Trusted® Home Builder for an unprecedented tenth year in a row. The recognition, awarded by Lifestory Research, comes after surveying over 66,000 home shoppers nationwide.

Chairman and CEO Sheryl Palmer expressed pride in reaching this milestone, particularly in a housing market marked by uncertainty, stating that the award reflects Taylor Morrison’s deep commitment to building trust with customers.

The builder achieved a Net Trust Index score of 110.1, with its resort lifestyle brand, Esplanade, also ranking highly in the Active Adult Builder category. This marks a decade of continuous customer satisfaction and success for the company, which has grown significantly during this time—building homes for over 100,000 buyers, expanding into new markets, and introducing innovative programs like its Able Ready Own credit improvement initiative.

Lifestory Research President Eric Snider credits Taylor Morrison’s sustained success to its relentless focus on quality and trust, setting a benchmark for the industry.

Source: Link

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