Wow!! Yesterday I took a cursory look at theInc. 5000 and pulled out about 20 companies from our industry that had made the list. I asked readers to reach out if their company was on there since it's a really long list and not always easy to navigate. I got a ton of emails, because there are actually 177 companies from our industry on that list!!
We're writing several follow-up stories on the companies that saw massive growth and why, breaking them out by financial services, real estate and software. Stay tuned for that coverage over the next few days!
In other news, today we got housing starts data, which showed a 7% drop from June to July. That's not great news for a housing market starved of inventory, but Lead Analyst Logan Mohtashami points out that it makes total sense from the builders' perspective.
"Today's Census report shows that the builders are managing their supply in order to protect their margins," Mohtashamiwrites. "They will never make the mistake of getting greedy and oversupplying the housing market as they did from 2002-2005 when the increased inventory came back to bite them.
"In 2018, they got cold water thrown in their face when mortgage rates got to 5% and cooled off demand. The builders' stocks went down more than 30% from their peaks at that time." Read the whole storyhere.
Housing starts fell 7.0% in July, an indication that construction supply lines are still choked and near record-high home prices are shutting out buyers
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Candor, a mortgage artificial intelligence firm that has pioneered automated underwriter technology, announced a $12.5 million funding round, led by Arthur Ventures.
HousingWire Editor in Chief Sarah Wheeler speaks with Grant Brittain, SVP, Title Sales at Radian, about overcoming title challenges using automation. Presented by Radian
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