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The road to profitability can be arduous, but Compass seems to be making up ground as the tech-focused brokerage saw higher earnings and modestly lower losses in the first three months of 2022.
In its latest earnings report, the New York-based company showed that it raked in $1.4 billion in the first quarter—up 25% from the same period last year. Compass also trimmed its net losses down to $188 million compared to the $212 million in Q1 2021.
Nearly one of every two mortgaged homes is considered “equity rich,” according to recent data from ATTOM Data Solutions, which released its Q1 2022 U.S. Home Equity & Underwater Report on Thursday.
The report found that 44.9% of mortgaged residential properties in the United States were considered equity-rich. This is defined as homes with a combined estimated amount of loan balances secured by those properties that were no more than 50% of their estimated market values.
The U.S. rental market is as competitive as it’s been in decades, and renters are facing a variety of challenges. High demand is keeping vacancy rates near all-time lows and pushing rents up almost as quickly as home prices.
The average U.S. asking rent rose $15 in April to an all-time record $1,659, with year-over-year growth moderating by 50 basis points but remaining high at 14.3%, according to the latest Yardi® Matrix Multifamily Report released this week.
Commercial and multifamily mortgage loan originations increased 72% in the first quarter of 2022 compared to the same period last year, according to the Mortgage Bankers Association’s (MBA) Quarterly Survey of Commercial/Multifamily Mortgage Bankers Originations.
In line with seasonality trends, originations during the first three months of 2022 year were 39% lower than the fourth quarter of 2021, the report stated.