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Sales of previously occupied U.S. homes remained sluggish in August, even as a late-summer slide in mortgage rates brought home loan borrowing costs to a 10-month low. Existing home sales slipped 0.2% last month from July to a seasonally adjusted annual rate of 4 million units, the National Association of Realtors said Thursday. That’s the slowest sales pace since June. Sales rose 1.8% compared with August last year. The latest sales figure topped the 3.96 million pace economists were expecting, according to FactSet. The national median sales price increased 2% in August from a year earlier to $422,600. That’s the 26th consecutive month that home prices have r…

Sales of previously occupied U.S. homes rose in November from the previous month, but slowed compared to a year earlier for the first time since May despite average long-term mortgage rates holding near their low point for the year. Existing home sales rose 0.5% in last month from October to a seasonally adjusted annual rate of 4.13 million units, the National Association of Realtors said Friday. Sales fell 1% compared with November last year. The latest sales figure came in slightly below the 4.14 million pace economists were expecting, according to FactSet. Through the first 11 months of this year, home sales are down 0.5% compared to the same period last ye…

While home sales and remodeling rates remain low, Thumbtack—which connects homeowners with professionals to do work on their houses—says business is booming. In fiscal 2024, Thumbtack saw revenue of $400 million, up 27% from the previous year, with billions of dollars going to the roughly 300,000 small businesses that book work through the platform. Cofounder and CEO Marco Zappacosta attributes the company’s success to more than 15 years of work helping users find the right, trustworthy professional—even if they’re not entirely sure what they need to fix a problem in their home—bolstered by recent advances in artificial intelligence. “You’ve got to remember this i…

Want more housing market stories from Lance Lambert’s ResiClub in your inbox? Subscribe to the ResiClub newsletter. Speaking to investors last week, Lennar co-CEO Jon Jaffe said that the spring 2025 selling season for America’s second-largest homebuilder is off to a slower-than-normal start. “We do not see the seasonal pickup typically associated with the beginning of the spring selling season,” Jaffe said. “So we continue to lean into our machine focusing on converting leads and appointments and adjusting incentives as needed to maintain sales pace. These adjustments came in the form of mortgage rate buydowns, price reductions, and closing cost assistance. La…

Want more housing market stories from Lance Lambert’s ResiClub in your inbox? Subscribe to the ResiClub newsletter. The average price net of incentives of new-builds sold by Lennar—America’s second largest homebuilder—came in at $386,000 in Q3 2025. That’s down -10.2% from $430,000 in Q4 2024 and down -21.4% from $491,000 in Q3 2022. While last quarter Lennar acknowledged that it will no longer be as aggressive in prioritizing volume over margin going forward, the giant homebuilder said that doing so (i.e., volume > margin strategy) over the past few years helped it gain market share while some other builders were more conservative. “During the past three …

Want more housing market stories from Lance Lambert’s ResiClub in your inbox? Subscribe to the ResiClub newsletter. Last month, in an address to investors, D.R. Horton CEO Paul Romanowski said the spring 2025 selling season is getting off to a slower-than-usual start for the nation’s largest homebuilder. “This year’s spring selling season started slower than expected as potential homebuyers have been more cautious due to continued affordability constraints and declining consumer confidence,” Romanowski said on the company’s earnings call. It isn’t just D.R. Horton. “Demand at the start of this spring’s selling season was more muted than what we have seen…

Want more housing market stories from Lance Lambert’s ResiClub in your inbox? Subscribe to the ResiClub newsletter. In today’s article, we’re sharing the full results from the Q4 2025 Zoodealio-ResiClub Real Estate Agent Survey. To conduct our real estate agent survey, ResiClub partnered with Zoodealio, a cash-offer platform, and iBuyer-management software designed for real estate agents. Among the 204 agents who took the survey, half (51%) have been real estate agents for 15 years or longer. The survey was fielded from November 17 to December 29, 2025. Respondents included real estate agents spanning all regions of the U.S., giving us a ground-level view of b…

As weather disasters become more and more frequent, the home insurance system feels broken for Americans across the country. Now, the advocacy nonprofit Consumer Reports is trying to implement a “homeowners insurance bill of rights” to codify baseline protections across all 50 states. According to a survey from the group, homeowners have seen their insurance rates climb—like Sierra in North Carolina, whose insurance spiked 43% last year, with her provider citing the “increased regional weather risks” as well as Hurricane Helene’s impact specifically. They’ve been denied payouts, like Charmian in Illinois, who says their provider refused to pay for hail damage on t…

Japanese automaker Honda reported a 7% decline in profit for the nine months that ended in December on Thursday as it terminated talks on integrating its business with Nissan. Tokyo-based Honda Motor Co. said its motorcycles business was strong, but its auto sales suffered in China and Japan, while demand stayed solid in the U.S. Honda’s April-December 2024 profit totaled 805 billion yen ($5 billion), down from 869.6 billion yen the same period in 2023. Nine-month sales gained nearly 9% to 16.3 trillion yen ($106 billion). Honda and Japanese rival Nissan Motor Corp., along with the smaller Mitsubishi Motors Corp., said in December that they were in talks to set up a j…

American Honda issued a major recall over engine concerns this week. On Wednesday, the company recalled 295,000 vehicles, including Honda and Acura models. In the announcement, Honda said owners of the recalled vehicles need to update the field injection control unit (FI-ECU) software due to the fact that the system could cause the engine to spontaneously malfunction. Honda explained in a news release, “Due to improper programming of the FI-ECU, sudden changes in the throttle could illuminate the check engine light and cause the engine to lose drive power, hesitate and/or stall, increasing the risk of a crash or injury. American Honda self-diagnosed this issue by mon…

Honda says its refreshed H logo represents a “second founding” for the company. Honda 2.0, then, is designed to look like it’s from the future. The Japanese automaker announced on January 13 that it’s adopting a new logo across its automobile business. The company has had some sort of an H mark since 1963, and its new mark is wider than its last, with stems that slant outward as they move upward. The logo is now freed from being inside a frame, and Honda compares it to “two outstretched hands.” It’s meant to evoke a shape, not just a letter. As the automotive industry electrifies and upgrades its tech, automakers including Audi, Kia, and Tesla have turned to d…

Honeywell, one of the last remaining U.S. industrial conglomerates, will split into three independent companies, following in the footsteps of manufacturing giants like General Electric and Alcoa. The company said Thursday that it will separate from its automation and aerospace technologies businesses. Including plans announced earlier to spin off its advanced materials business, Honeywell will consist of three smaller entities in hopes that they will each be more agile. “The formation of three independent, industry-leading companies builds on the powerful foundation we have created, positioning each to pursue tailored growth strategies, and unlock significant value for…

Hooters of America, LLC, owner of the Hooters restaurant chain, has announced that it has filed for Chapter 11 bankruptcy protection. The bankruptcy filing is aimed at helping the company restructure itself so it can transition from a company-owned restaurant chain to a franchisee-owned chain. Here’s what you need to know about Hooter’s bankruptcy and whether any locations will close. Hooters to transition to franchisee-owned model Most people think of Hooters as just one company, but the restaurant chain currently operates under a hybrid model. Hooters of America, LLC, owns the restaurant’s brand intellectual property and currently operates numerous Hooters lo…

Shares in two closely watched AI-adjacent companies, Nvidia Corporation and Palantir Technologies, are falling this morning. Currently, Nvidia shares are down more than 2.2% and Palantir shares are down more than 6%. The share price drops of two of the most prominent AI companies come as investors seem increasingly worried that the AI boom is starting to look more like an AI bubble, reminiscent of the dotcom bubble of the late ’90s and early 2000s. In part due to these concerns, an increasing number of investors have recently begun betting against the stocks of companies benefitting from the artificial intelligence boom—including Michael Burry, the investor who b…

The stock market survived the longest government shutdown in U.S. history with minimal impact. But it tumbled on Thursday, November 13, amid a sell-off of tech stocks as worries about overinflated values and interest rate cuts grew. Take the S&P 500, which shrank 1.66% to 6,739.49, or the Dow Jones Industrial average, which went down by 1.65% to 47,457.22—both at their lowest in over a month. It was only the day before that the Dow had surpassed 48,000, reaching a new record high. The Nasdaq composite met a similar fate, dropping 2.29% to its month low of 22,870.36. Many tech stocks felt the effect. Shares of electric vehicle maker Tesla (Nasdaq:TSLA) dr…

As a nearly 60-year-old brand, Hot Wheels has been a playroom staple for generations of children. But while the tiny cars and buildable track sets have managed to find their way into the playrooms of millions of children, the looping, curving track pieces have always been a bit of a challenge to actually put together. Mattel, which created the Hot Wheels brand in 1968, knows this is a pain point, especially at the younger end of their target market. Recent research found that less than a third of kids aged 3 to 6 are able to assemble Hot Wheels track sets without help. “That to us was a really big call to say that we need to approach this in a different manner,” says …

More buildings are being converted into apartments in the U.S. than ever before, and it’s not just old offices that are finding new use. After the COVID-19 pandemic disrupted relocation patterns and work arrangements nationwide, suddenly vacant city office space seemed like prime real estate for housing. But it’s actually hotels more than any other building type that are driving the spike in conversions now: Hotels made up 37% of all apartment conversions in 2024, followed by offices at 24%, industrial at 19%, schools at 8%, and other at 12%. New sourcing to meet newfound growth This shift in sourcing comes at a time when a record number of converted apartments…

Early this morning, the House voted 215–214 to pass a sweeping budget reconciliation bill with provisions that include a cancellation or phaseout for just about everything that was in the Inflation Reduction Act. The measure, which now heads to the Senate, is being described by clean energy and environmental groups as a monumental betrayal of the country that will cost jobs and increase electricity bills. But during the floor debate overnight, the energy parts of the bill were an afterthought to higher priority issues for members of both parties, such as tax cuts, revisions to Medicaid, and a desire to support or oppose the agenda of President Donald The President…