US Economic Confidence Steady, iBuyer Offerpad Reports Earnings, Realtor® Reports Suspicious Homebuyer Encounter

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US Economic Confidence Steady

Economic confidence in the U.S. has remained steady in February, with Gallup’s Economic Confidence Index registering -19, the same as January. This marks continued negative sentiment about the economy, as Americans remain divided over its direction. 35% believe the economy is improving, while 59% think it’s worsening.

Partisan divisions are widening, with Republicans showing optimism, registering a net positive score for the first time since 2020, while Democrats are significantly more pessimistic. Independents lean toward a more negative outlook.

Though confidence remains negative, slight shifts indicate that Americans’ perceptions are evolving as President Trump’s administration sets its course. Gallup’s data reflects this change, especially with Republicans now expressing a much more positive view of economic conditions than they did just a few months ago.

Source: Link

iBuyer Offerpad Reports Earnings

Offerpad, an iBuyer company, has slowed its home purchases in response to market volatility and high mortgage rates. The iBuying model has faced challenges in recent years, with iBuyers like Offerpad scaling back their activities. Despite this, Offerpad exceeded revenue expectations in Q4 2024, reporting $174 million, thanks to strong performance in its asset-light services such as the Agent Partnership program and B2B Renovate business.

While the company experienced a 28% decline in revenue year-over-year and a net loss of $17.3 million, cost-cutting measures and improved operational efficiency helped improve its gross margin by 47%. Looking ahead, Offerpad is focusing on increasing acquisitions, expanding its services, and maintaining financial discipline, with Q1 2025 revenue expected between $150 million and $170 million.

Source: Link

Realtor® Reports Suspicious Homebuyer Encounter

A Birmingham Realtor® is sounding the alarm after a suspicious encounter with a man posing as a wealthy homebuyer. Christina Gennari says she had a gut feeling something wasn’t right when a man, claiming to be Dr. Alex Snyder, came into her office last Friday. He wanted to tour multi-million dollar homes, spinning a tale of a lavish lifestyle with a family and exotic pets. However, after staff couldn’t verify his details and his pre-approval letter seemed questionable, Gennari grew suspicious.

When asked for ID, the man quickly left. A call to police led to a shocking revelation: the man was not a doctor, but a convicted felon with a history of fraud and assault. He had been caught stealing from homes listed for sale, including one Gennari’s team was working on. Police are now increasing patrols and asking realtors to be vigilant.

Source: Link

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