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Want more housing market stories from Lance Lamberts ResiClub in your inbox? Subscribe to the ResiClub newsletter. During the Pandemic Housing Boom, housing demand surged rapidly amid ultralow interest rates, stimulus, and the remote work boom. Federal Reserve researchers estimate new construction would have had to increase by roughly 300% to absorb the pandemic-era surge in demand. Unlike housing demand, housing stock isnt as elastic and can’t quickly ramp up. As a result, the heightened demand drained the market of active inventory and caused home prices to overheat, with U.S. home prices in June 2022 sitting a staggering 43.2% above March 2020 levels. Since that national boom ended in mid-2022, the housing market has been moving through a cyclical cooling phase and undergoing a period of recalibration and normalization after such a large burst. Look no further than the share of U.S. homes that sold below their original list price, by year, according to a new Redfin report: 2018 > 62% 2019 > 64% 2020 > 55% 2021 > 38% 2022 > 42% 2023 > 54% 2024 > 58% 2025 > 62% The share of homes selling below their original list price varies by region. Many Sun Belt pandemic-boom marketsparticularly across Florida and Texasare seeing the highest prevalence of homes selling below their initial ask. By contrast, many Northeast and Midwest metros remain, relatively speaking, more resilient, with fewer than half of homes selling below list in several markets. Parts of San Francisco and San Jose have regained a bit of mojo amid the AI boom. window.addEventListener("message",function(a){if(void 0!==a.data["datawrapper-height"]){var e=document.querySelectorAll("iframe");for(var t in a.data["datawrapper-height"])for(var r,i=0;r=e[i];i++)if(r.contentWindow===a.source){var d=a.data["datawrapper-height"][t]+"px";r.style.height=d}}}); Some sellers are recognizing the market has changed and others are not . . . I have one seller who overpaid for their home a few years ago and wants to list it at $950,000. The problem is recent comps call for a list price of $825,000,” writes Connie Durnal, a Redfin Premier real estate agent in Dallas. “I have another seller who paid $400,000 for their home but was willing to list it at $385,000, which was a great strategy. Because the home was fairly priced, it got multiple offers and sold for $10,000 over the asking price. Redfins analysis is based on annual MLS data comparing original list prices with final sale prices. The firm didnt publish data for every metro.
Category:
E-Commerce
These are tough times for many businesses across corporate America, many of whom are cutting down on business travel, and perks on the road. And in these times, one company’s policy on business travel is going viral: According to a recent Wall Street Journal article, Cracker Barrel employees reportedly must follow a new policy that they can only eat at Cracker Barrel restaurants while traveling for work. But according to Cracker Barrel, that’s not exactly true. “The policy for employees to dine at Cracker Barrel while traveling for business, whenever practical based on location and schedule, is not new,” Cracker Barrel explained to Fast Company in an email statement. “Also, it is not the only place that our employees may eat when on the road, as previously reported. The change was to further limit reimbursement of alcoholic beverages under the policy.” Still, backlash to the reported policy comes during a rough patch for the American restaurant chain known for its Southern charm, marked by declining sales, and more customer backlash over a recent botched attempt to rebrand. In August, Cracker Barrel unveiled a new campaign starring country music artist Jordan Davis that revamped its “Old Timer” logo and menus, and lightened up the restaurant’s dining rooms, to the dismay of longtime customers. (The reaction can be summed up by one TikTok user who posted, I prefer the darker cozier look, I also dont like change.”) The company was soon forced to walk back the plans, and later said it wouldn’t change the logo. Cracker Barrel financials Shares of Cracker Barrel (NASDAQ: CBRL) were down less than 1% in midday trading on Tuesday at the time of this writing. The Tennessee-based chain’s first quarter fiscal 2026 earnings missed expectations, with total revenue at $797.2 million, down 5.7% compared to the prior year first quarter; same-store restaurant sales down 4.7% over the prior year quarter, and comparable store retail sales down 8.5%.
Category:
E-Commerce
PayPal is replacing CEO Alex Chriss with Enrique Lores, saying that the pace of change and execution at the company has not met board expectations over the past two years. Lores has served as a PayPal board member for almost five years and has been board Chair since July 2024. He’s also spent more than six years as president and CEO of HP Inc. The payments industry is changing faster than ever, driven by new technologies, evolving regulations, an increasingly competitive landscape, and the rapid acceleration of AI that is reshaping commerce daily, Lores said in a statement on Tuesday. “PayPal sits at the center of this change, and I look forward to leading the team to accelerate the delivery of new innovations and to shape the future of digital payments and commerce. PayPal’s board thanked Chriss for his contributions, including the role he played to monetize Venmo and grow the Buy Now Pay Later business. Lores will take over as PayPal CEO on March 1. David Dorman will serve as independent chair, effective immediately. PayPal’s Chief Financial and Operating Officer Jamie Miller will serve as interim CEO until Lores assumes the position. PayPal also reported its fourth-quarter results on Tuesday. The technology platform and digital payments company posted an adjusted profit of $1.23 per share on revenue of $8.68 billion. The performance missed the expectations of analysts polled by Zacks Investment Research, who were looking for a profit of $1.29 per share on revenue of $8.77 billion. The San Jose, California-based company also forecast lower profit for the first quarter. Shares slid 16% before the market open. Michelle Chapman, AP business writer
Category:
E-Commerce
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