US Home Sales Dip, Zillow v. Rex, Houston Realtor® Charged with Fraud

1 Credits

US Home Sales Dip

According to a new study, pending home sales in the U.S. have dropped 6.4% compared to last year, marking the second-largest decline since November 2023. Despite this, falling mortgage rates are beginning to attract more buyers. The average 30-year fixed mortgage rate dropped to 6.7%, its lowest in nearly three months, which led to a 9% increase in mortgage-purchase applications week over week.

While national sales are sluggish, Southern California is bucking the trend. Pending sales in Los Angeles, Anaheim, and Riverside have all seen increases, with Los Angeles up 8.5% year-over-year. Experts say the market is still strong despite rising home prices and economic concerns, with some areas recovering from the aftermath of January’s wildfires.

With spring approaching, many buyers are returning to the market, and homes are selling quickly, some even going for $200,000 to $300,000 above asking price.

Source: Link

Zillow v. Rex

The 9th Circuit Court of Appeals has sided with a federal district court ruling against REX, affirming that there was no antitrust violation by Zillow or the National Association of Realtors® (NAR) in relation to the “no commingling rule.” The rule requires that real estate platforms using Multiple Listing Service (MLS) data must keep MLS listings separate from non-MLS listings.

REX had argued that Zillow’s adherence to this rule amounted to anti-competitive behavior, but the court found no evidence of such a violation. The ruling marks a significant legal precedent. 

Source: Link

Houston Realtor® Charged with Fraud

A Houston Realtor® is facing serious legal consequences after being accused of stealing a woman’s identity to secure fraudulent rental homes. 36-year-old Vanita Zano has been charged with three felonies: making false statements to obtain property or credit, securing the execution of a document by deception, and fraudulent use of identifying information.

Authorities say Zano used fake documents to help several individuals secure rental leases throughout the Houston area, receiving commissions and upfront fees in the process. Between July 2022 and March 2024, Zano allegedly obtained nearly $177,000 in fraudulent leases.

Her actions were uncovered in April 2024, after an investigator with the Texas Real Estate Commission flagged a suspicious application. Court documents reveal Zano used a stolen identity to pass background checks and even forged disability documents from the Department of Veterans Affairs.

Zano was arrested on February 26 but was released on a $15,000 bond. Her profile has since been removed from the Houston Association of Realtor®’s website. The victim, whose identity was stolen, has vowed to press charges and has been working to resolve the issue for over a year.

For more information on spotting rental scams, visit HAR.com/tips.

Source: Link

Disclaimer: This content is for informational purposes only and reflects publicly available information. It should not be considered legal advice or a definitive statement on any legal matters.

About “3 Things You Need to Know” on OnTrack Agent

3 Things You Need to Know” delivers concise, no-nonsense real estate news, ensuring that agents stay informed and ahead of the curve.

Stripping away editorial commentary, the show focuses on the key developments shaping the real estate industry and the broader U.S. economy.

Whether it’s market trends, legislative changes, or economic shifts, each episode distills the most important information into easily digestible segments.

Designed specifically for real estate professionals, “3 Things You Need to Know” equips agents with the insights they need to make informed decisions and thrive in a competitive landscape.

Stay connected to the pulse of the industry with timely updates that matter each weekday, Monday through Friday. Report your news by email info@ontrackagent.com.

 

3 Things You Need to Know – Copyright 2025 – OnTrack Agent

Buy Now

---