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On Oct. 14, a former employee filed a class-action lawsuit against the tech-based brokerage and listing platform Redfin—and its parent company Rocket—after a data breach this year. The plaintiff, Frankie Moreno, worked for the company from around September 2020 to November 2022. According to the 44-page complaint, Moreno alleges that the data breach compromised the…

The post Redfin Faces Class-Action Lawsuit Over Data Breach appeared first on RISMedia.

Editor’s note: The COURT REPORT is RISMedia’s weekly look at current and upcoming lawsuits, investigations and other legal developments around real estate. Compass sues CRMLS over “mandatory submission” policies Shortly after the MLS filed its own suit against the brokerage, Compass has now filed a lawsuit against California-based CRMLS, asking a judge to prevent the…

The post Court Report: Compass and CRMLS at Bat; eXp Settles Sexual Assault Case appeared first on RISMedia.

As homebuilder confidence has now bottomed out to a 12-year low, the housing construction industry continues to face a series of hurdles that are severely diminishing activity.  With the latest New Residential Construction report from the Department of Housing and Urban Development and the Census Bureau demonstrating another impacted month, builders are now forecasting issues…

The post Housing Starts Decline as Builders Forecast Lower Production Into Next Year appeared first on RISMedia.

As the housing market begins to wind down for the cold season, pending home sales are also showing the impact of elevated mortgage rates as contract signings fell across the board, according to the National Association of Realtors® (NAR). The Pending Home Sales report by NAR for September shows that sales decreased by 7.3% month-over-month,…

The post Pending Sales Drop Dramatically as Economists Blame High Rates and Season Slowdown appeared first on RISMedia.