Get Reliable Income From a New Career With 100-Hour Ohio Pre-Licensing Course From the CE Shop
DENVER, CO / ACCESS Newswire / June 10, 2025 / The real estate market is picking up speed in Ohio, and it's a great time to become a real estate agent, especially for those needing a change or struggling to find stability without a degree. The CE Shop has all the education needed for a successful career jump start or to amplify success for seasoned agents in Ohio.
According to Zillow, there has been a 4.7% year-over-year increase in home sale prices in Ohio, and favorable conditions for sellers, making a career switch with the right education even more motivating.
Getting an Ohio real estate license involves two main steps: completing pre-licensing education and passing the Ohio Salesperson Licensing Exam. The time required to complete the 100-Hour Ohio Pre-Licensing course can vary person to person but may be finished in as little as two weeks. Adequate time should also be devoted to studying for the licensing exam, which will also vary depending on the individual. The Ohio pre-licensing curriculum includes four courses essential for earning a real estate license: a 40-hour Principles and Practices Course, a 40-hour Real Estate Law Course, a 10-hour Real Estate Finance Course, and a 10-hour Real Estate Appraisal Course.
The CE Shop course offering includes both a practice and final exam covering national and state topics, which students can retake as many times as needed to feel comfortable with the content and confident come exam day. Courses are available as part of bundled packages designed to meet a variety of different learning needs. One popular add-on is Exam Prep Edge, which helps aspiring agents fully grasp the content and feel prepared to excel on their licensing exam.
Course packages include:
Course Only100-Hour Ohio Pre-Licensing course (covers both State and National topics)Ebooks, career resources, and digital flashcardsStudy scheduleReal estate glossaryStandard PackageIncludes all of the above, plus:Exam Prep Edge (National & Alaska)Pass GuaranteeValue PackageIncludes all of the above, plus:Kickstarter Professional Development Program (3 courses)Premium PackageIncludes all of the above, plus:20-Hour Ohio Post-Licensing Salesperson courseReal Estate Basics & Beyond eTextbook
First-year salary expectations as a real estate agent are promising because it's a career that gives the agent control over what they make based on the effort they put in, and the hard work of the first year is worth the significant increases in income for active agents.
The CE Shop provides an industry-best education with streamlined and flexible learning features that include mobile-friendly access and clear course progress. Setting themselves apart from other real estate schools, The CE Shop has the highest pass rates in the nation and offers customer support 7 days a week so that students can feel confident they are on the easiest path to career growth and state-approved coursework. For the evolution of a real estate professional's career, The CE Shop provides engaging (and required) continuing education, as well as professional development offerings, to give real estate professionals an advantage over their competition.
Learn more about The CE Shop and their Ohio real estate offerings, take a Free Trial, and get career resources.
About The CE ShopThe CE Shop is the leading provider of professional real estate education with online mortgage, real estate, home inspection, and appraisal courses available throughout the United States. The CE Shop produces quality education for professionals across the nation, whether they're veterans in their industry or are looking to launch a new career. We believe that the right education can truly make a difference. Visit TheCEShop.com to learn more.
Media Contact:
The CE Shop PressPress@TheCEShop.com720.822.5314
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Indianapolis Star
6 hours ago
- Indianapolis Star
Tecogen Reports Second Quarter 2025 Financial Results
NORTH BILLERICA, MA / ACCESS Newswire Tecogen Inc. (NYSE American:TGEN), a leading manufacturer of clean energy products, reported revenues of $7.29 million and net loss of $1.47 million for the quarter ended June 30, 2025 compared to revenues of $4.73 million, and a net loss of $1.54 million in 2024. Our cash and cash equivalents balance was $1.64 million at June 30, 2025. Abinand Rangesh, CEO of Tecogen, commented that 'since our last earnings call we have made tremendous progress with our data center strategy and achieved several key milestones. We received our first LOI for a great pilot project. This is for a 100+MW data center with the potential to be a 500+MW site. The customer expects to evaluate 6 STx chillers during the first phase of the project. If successful, more chillers will be used in subsequent phases. We expect the LOI to convert to a PO later this year and we hope to grow with this customer. In the last three months, our marketing has generated great leads. We have now quoted two projects for 60 to 100 chillers each. We have multiple other projects that are earlier stage but have similar potential. We've also received feedback on how customers are making purchasing decisions. During the call, I will address what these are and the steps we are taking so we can convert these leads into orders. The only setback this quarter was the reduction in the gross profit margin which drove the net loss. Product margin was lower because we started shipping the hybrid air-cooled chiller. As expected, the first few units had higher costs due to low volume material purchasing and as our team gained experience building the product. We expect the hybrid chiller margin to increase with volume production. The other products shipped this quarter had similar margins as previous quarters. Overall service margin declined because of one region – Manhattan and NJ. This was in part due to bulk oil system upgrades for our InVerde fleet. This has a short term impact on profitability but increases service intervals by 150% to 200%. We also experienced increased overtime hours. During the call, we will discuss the new protocols we have implemented to restore this territory to profitability. Given the size of potential projects, the ability to manufacture and ship significant volumes of chillers is critical. We have hired talent in manufacturing and engineering. The additional staffing was a significant factor in our increased operating expenses, which increased by 9% in Q2 2025 compared to last year. To provide the necessary capital to scale our business, we also raised $18.2 million in July. The capital raised will be used to increase factory output and for marketing. I will share more details on the data center projects, Vertiv and scale up plan tomorrow.' Key Takeaways Net Loss and Earnings Per Share Net loss for the quarter ended June 30, 2025 was $1.46 million compared to a net loss of $1.54 million for the same period of 2024, a decrease of $0.07 million, due to increased gross profit from our Products and Services segments. EPS for the quarter ended June 30, 2025 and 2024 was a loss of $(0.06)/share, respectively. Net loss for the six months ended June 30, 2025 was $2.12 million compared to a net loss of $2.64 million for the same period of 2024, a decrease of $0.52 million, due to increased gross profit from our Products and Services segments. EPS for the six months ended June 30, 2025 and 2024 was a loss of $(0.08)/share and $(0.11)/share, respectively. Loss from Operations Loss from operations for the quarter ended June 30, 2025 was $1.41 million compared to a loss from operations of $1.47 million for the same period in 2024, a decrease of $0.06 million, due to increased gross profit from our Products and Services segments. Loss from operations for the six ended June 30, 2025 was $2.01 million compared to a loss from operations of $2.52 million for the same period in 2024, a decrease of $0.52 million, due to increased gross profit from our Products and Services segments. Revenues Revenues for the quarter ended June 30, 2025 were $7.29 million compared to $4.73 million for the same period in 2024, a 54.3% increase. Products revenues in the quarter ended June 30, 2025 were $3.16 million compared to $0.12 million for the same period in 2024, an increase of 2,536.6%. The increase in revenue during the quarter ended June 30, 2025 is due to increased chiller and cogeneration revenue, which included the initial deliveries of our hybrid-drive air-cooled chiller. Services revenues in the quarter ended June 30, 2025 were $3.97 million, compared to $4.13 million for the same period in 2024, a decrease of 3.9% due to decreased revenues from the acquired Aegis maintenance contracts. Energy Production revenues in the quarter ended June 30, 2025 were $0.17 million compared to $0.48 million for the same period in 2024, a decrease of 63.8%. The decrease in Energy Production revenue is due to contract expirations at certain energy production sites in late 2024 and the temporary shutdown of a few energy production sites for repairs. Revenues for the six months ended June 30, 2025 were $14.57 million compared to $10.91 million for the same period in 2024, a 33.5% increase. Products revenues in the six months ended June 30, 2025 were $5.69 million compared to $1.61 million for the same period in 2024, an increase of 253.1%. The increase in revenue during the six months ended June 30, 2025 is due to increased chiller and cogeneration revenue, which included the initial deliveries of our hybrid-drive air-cooled chiller. Services revenues in the six months ended June 30, 2025 were $8.21 million, compared to $8.14 million for the same period in 2024, an increase of 0.9% due to increased revenues from existing contracts, offset by decreased revenues from the acquired Aegis maintenance contacts. Energy Production revenues in the six months ended June 30, 2025 were $0.67 million compared to $1.16 million for the same period in 2024, a decrease of 42.1%. The decrease in Energy Production revenue is due to contract expirations at certain energy production sites in late 2024 and the temporary shutdown of a few energy production sites for repairs. Gross Profit Gross profit for the quarter ended June 30, 2025 was $2.46 million compared to $2.08 million in the same period in 2024. Gross margin decreased to 33.8% in the quarter ended June 30, 2025 compared to 44.0% for the same period in 2024. The decrease in gross margin was due to higher material and labor costs in our Products and Services segments in the quarter ended June 30, 2025. Gross profit for the six months ended June 30, 2025 was $5.68 million compared to $4.65 million in the same period in 2024. Gross margin decreased to 39.0% in the six months ended June 30, 2025 compared to 42.7% for the same period in 2024. The decrease in gross margin was due to higher material and labor costs in our Products and Services segments in the the six months ended June 30, 2025. Operating Expenses Operating expenses increased $0.32 million, or 9.0%, to $3.87 million in the quarter ended June 30, 2025 compared to $3.55 million in the same period in 2024, due to increased payroll, benefits, recruitment costs, and sales commissions. Operating expenses increased $0.51 million, or 7.1%, to $7.69 million in six months ended June 30, 2025 compared to $7.18 million in the same period in 2024, due to increased payroll, benefits, recruitment costs and sales commissions. Adjusted EBITDA Adjusted EBITDA was negative $1.16 million for the quarter ended June 30, 2025 compared to negative $1.30 million for the quarter ended June 30, 2024. For the six months ended June 30, 2025, adjusted EBITDA was a negative $1.54 million compared to a negative $2.19 million for the six months ended June 30, 2024. (Adjusted EBITDA is defined as net income or loss attributable to Tecogen, adjusted for interest, income taxes, depreciation and amortization, stock-based compensation expense, unrealized gain or loss on investment securities, goodwill impairment charges and other non-cash non-recurring charges or gains including abandonment of intangible assets and asset impairment. See the table following the Condensed Consolidated Statements of Operations for a reconciliation from net income (loss) to Adjusted EBITDA, as well as important disclosures about the Company's use of Adjusted EBITDA). Conference Call Scheduled for August 13, 2025, at 9:30 am ET Tecogen will host a conference call on August 13, 2025 to discuss the second quarter results beginning at 9:30 am eastern time. To listen to the call please dial (877) 407-7186 within the U.S. and Canada, or +1 (201) 689-8052 from other international locations. Participants should ask to be joined to the Tecogen Second Quarter conference call. Please begin dialing 10 minutes before the scheduled starting time. The earnings press release will be available on the Company website at in the 'News and Events' section under 'About Us.' The earnings conference call will be webcast live. To view the associated slides, register for and listen to the webcast, go to Following the call, the recording will be archived for 14 days. The earnings conference call will be recorded and available for playback one hour after the end of the call. To listen to the playback, dial (877) 660-6853 within the U.S. and Canada, or (201) 612-7415 from other international locations and use Conference Call ID#: 13752231. About Tecogen Tecogen Inc. designs, manufactures, sells, installs, and maintains high efficiency, ultra-clean, cogeneration products including engine-driven combined heat and power, air conditioning systems, and high-efficiency water heaters for residential, commercial, recreational and industrial use. The company provides cost effective, environmentally friendly and reliable products for energy production that nearly eliminate criteria pollutants and significantly reduce a customer's carbon footprint. In business for over 35 years, Tecogen has shipped more than 3,200 units, supported by an established network of engineering, sales, and service personnel in key markets in North America. For more information, please visit or contact us for a free Site Assessment. Forward Looking Statements This press release contains 'forward-looking statements' which may describe strategies, goals, outlooks or other non-historical matters, or projected revenues, income, returns or other financial measures, that may include words such as 'believe,' 'expect,' 'anticipate,' 'intend,' 'plan,' 'estimate,' 'project,' 'target,' 'potential,' 'will,' 'should,' 'could,' 'likely,' or 'may' and similar expressions intended to identify forward-looking statements. These statements are only predictions and involve known and unknown risks, uncertainties, and other factors that may cause our actual results to differ materially from those expressed or implied by such forward-looking statements. Given these uncertainties, you should not place undue reliance on these forward-looking statements. Forward-looking statements speak only as of the date on which they are made, and we undertake no obligation to update or revise any forward-looking statements except as required under the securities laws. In addition to those factors described in our Annual Report on Form 10-K, our Quarterly Reports on Form 10-Q and in our Current reports on Form 8-K, under 'Risk Factors,' and elsewhere therein, among the factors that could cause actual results to differ materially from past and projected future results are the following: fluctuations in demand for our products and services, competing technological developments, issues relating to research and development, the availability of incentives, rebates, and tax benefits relating to our products and services, changes in the regulatory environment relating to our products and services, integration of acquired business operations, the impact of tariffs, and the ability to obtain financing on favorable terms to fund existing operations and anticipated growth. In addition to GAAP financial measures, this press release includes certain non-GAAP financial measures, including adjusted EBITDA which excludes certain expenses as described in the presentation. We use Adjusted EBITDA as an internal measure of business operating performance and believe that the presentation of non-GAAP financial measures provides a meaningful perspective of the underlying operating performance of our current business and enables investors to better understand and evaluate our historical and prospective operating performance by eliminating items that vary from period to period without correlation to our core operating performance and highlights trends in our business that may not otherwise be apparent when relying solely on GAAP financial measures. June 30, 2025 December 31, 2024 ASSETS Current assets: Cash and cash equivalents $ 1,640,864 $ 5,405,233 Accounts receivable, net 6,640,483 6,026,545 Inventories, net 9,679,229 9,634,005 Unbilled revenue 126,738 398,898 Prepaid and other current assets 949,256 680,565 Total current assets 19,036,570 22,145,246 Long-term assets: Property, plant and equipment, net 1,820,059 1,738,036 Right-of-use assets – operating leases 1,728,780 1,730,358 Right-of-use assets – finance leases 933,671 452,390 Intangible assets, net 2,330,959 2,513,189 Goodwill 2,346,566 2,346,566 Other assets 155,232 166,474 TOTAL ASSETS $ 28,351,837 $ 31,092,259 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Related party notes, current portion $ – $ 1,548,872 Accounts payable 4,946,218 4,142,678 Accrued expenses 2,976,211 2,890,886 Deferred revenue, current portion 4,420,644 6,701,131 Operating lease obligations, current portion 481,891 430,382 Finance lease obligations, current portion 173,362 85,646 Acquisition liabilities, current portion 883,541 902,552 Unfavorable contract liability, current portion 83,962 113,449 Total current liabilities 13,965,829 16,815,596 Long-term liabilities: Related party notes, net of current portion 1,067,848 – Deferred revenue, net of current portion 1,252,831 1,165,951 Operating lease obligations, net of current portion 1,295,450 1,341,789 Finance lease obligations, net of current portion 675,198 325,235 Acquisition liabilities, net of current portion 878,151 1,008,760 Unfavorable contract liability, net of current portion 275,079 309,390 Total liabilities 19,410,386 20,966,721 Commitments and contingencies Stockholders' equity: Tecogen Inc. stockholders' equity: Common stock, $0.001 par value; 100,000,000 shares authorized; 25,571,490 issued and outstanding at June 30, 2025 and 24,950,261 shares issued and outstanding at December 31, 2024 25,571 24,950 Additional paid-in capital 58,837,181 57,845,289 Accumulated deficit (49,763,921 ) (47,639,894 ) Total Tecogen Inc. stockholders' equity 9,098,831 10,230,345 Non-controlling interest (157,380 ) (104,807 ) Total stockholders' equity 8,941,451 10,125,538 $ 28,351,837 $ 31,092,259 TECOGEN INC. (unaudited) Three Months Ended June 30, 2025 June 30, 2024 Revenues Products $ 3,155,323 $ 119,673 Services 3,965,168 4,126,517 Energy production 174,329 481,597 Total revenues 7,294,820 4,727,787 Cost of sales Products 2,232,155 171,982 Services 2,469,737 2,191,815 Energy production 130,436 284,835 Total cost of sales 4,832,328 2,648,632 Gross profit 2,462,492 2,079,155 Operating expenses: General and administrative 3,091,175 2,897,993 Selling 514,735 405,277 Research and development 268,724 246,489 (Gain) loss on disposition of assets (280 ) 3,363 Total operating expenses 3,874,354 3,553,122 Loss from operations (1,411,862 ) (1,473,967 ) Other income (expense) Other income (expense), net (6,378 ) 18,894 Interest expense (38,153 ) (17,869 ) Unrealized loss on investment securities – (37,497 ) Total other income (expense), net (44,531 ) (36,472 ) Loss before provision for state income taxes (1,456,393 ) (1,510,439 ) Provision for state income taxes 16,762 37 Consolidated net loss (1,473,155 ) (1,510,476 ) (Income) loss attributable to the non-controlling interest 9,050 (28,320 ) Loss attributable to Tecogen Inc. $ (1,464,105 ) $ (1,538,796 ) Net loss per share – basic $ (0.06 ) $ (0.06 ) Weighted average shares outstanding – basic 25,250,217 24,850,261 Net loss per share – diluted $ (0.06 ) $ (0.06 ) Weighted average shares outstanding – diluted 25,250,127 24,850,261 Three Months Ended June 30, 2025 June 30, 2024 Non-GAAP financial disclosure (1) Net loss attributable to Tecogen Inc. $ (1,464,105 ) $ (1,538,796 ) Interest expense, net 38,153 17,869 Income taxes 16,762 37 Depreciation & amortization, net 205,686 141,361 EBITDA (1,203,504 ) (1,379,529 ) Stock based compensation 42,606 45,463 Unrealized loss on investment securities – 37,497 Adjusted EBITDA $ (1,160,898 ) $ (1,296,569 ) (1) Non-GAAP Financial Measures In addition to reporting net income, a U.S. generally accepted accounting principle ('GAAP') measure, this news release contains information about Adjusted EBITDA (net income (loss) attributable to Tecogen Inc adjusted for interest, income taxes, depreciation and amortization, stock-based compensation expense, unrealized gain or loss on investment securities, goodwill impairment charges and other non-cash non-recurring charges including abandonment of certain intangible assets), which is a non-GAAP measure. The Company believes Adjusted EBITDA allows investors to view its performance in a manner similar to the methods used by management and provides additional insight into its operating results. Adjusted EBITDA is not calculated through the application of GAAP. Accordingly, it should not be considered as a substitute for the GAAP measure of net income and, therefore, should not be used in isolation of, but in conjunction with, the GAAP measure. The use of any non-GAAP measure may produce results that vary from the GAAP measure and may not be comparable to a similarly defined non-GAAP measure used by other companies. Six Months Ended June 30, 2025 June 30, 2024 Revenues Products $ 5,689,132 $ 1,611,071 Services 8,210,190 8,140,827 Energy production 673,268 1,161,985 Total revenues 14,572,590 10,913,883 Cost of sales Products 3,719,905 1,221,525 Services 4,728,635 4,284,072 Energy production 440,518 753,475 Total cost of sales 8,889,058 6,259,072 Gross profit 5,683,532 4,654,811 Operating expenses: General and administrative 6,019,310 5,746,559 Selling 1,109,216 934,946 Research and development 561,392 501,185 Gain on sale of assets (280 ) (4,028 ) Total operating expenses 7,689,638 7,178,662 Loss from operations (2,006,106 ) (2,523,851 ) Other income (expense) Other income (expense), net (20,623 ) 3,147 Interest expense (70,479 ) (36,539 ) Unrealized loss on investment securities (18,749 ) (18,749 ) Total other income (expense), net (109,851 ) (52,141 ) Loss before provision for state income taxes (2,115,957 ) (2,575,992 ) Provision for state income taxes 17,687 22,100 Consolidated net loss (2,133,644 ) (2,598,092 ) (Income) loss attributable to non-controlling interest 9,617 (45,671 ) Net loss attributable to Tecogen Inc. $ (2,124,027 ) $ (2,643,763 ) Net loss per share – basic $ (0.08 ) $ (0.11 ) Weighted average shares outstanding – basic 25,103,388 24,850,261 Net loss per share – diluted $ (0.08 ) $ (0.11 ) Weighted average shares outstanding – diluted 25,103,388 24,850,261 Six Months Ended June 30, 2025 June 30, 2024 Non-GAAP financial disclosure (1) Net loss attributable to Tecogen Inc. $ (2,124,027 ) $ (2,643,763 ) Interest expense, net 70,479 36,539 Income taxes 17,687 22,100 Depreciation & amortization, net 391,381 281,498 EBITDA (1,644,480 ) (2,303,626 ) Stock based compensation 83,439 89,998 Unrealized loss on marketable securities 18,749 18,749 Adjusted EBITDA $ (1,542,292 ) $ (2,194,879 ) (1) Non-GAAP Financial Measures In addition to reporting net income, a U.S. generally accepted accounting principle ('GAAP') measure, this news release contains information about Adjusted EBITDA (net income (loss) attributable to Tecogen Inc adjusted for interest, income taxes, depreciation and amortization, stock-based compensation expense, unrealized gain or loss on investment securities, goodwill impairment charges and other non-cash non-recurring charges including abandonment of certain intangible assets), which is a non-GAAP measure. The Company believes Adjusted EBITDA allows investors to view its performance in a manner similar to the methods used by management and provides additional insight into its operating results. Adjusted EBITDA is not calculated through the application of GAAP. Accordingly, it should not be considered as a substitute for the GAAP measure of net income and, therefore, should not be used in isolation of, but in conjunction with, the GAAP measure. The use of any non-GAAP measure may produce results that vary from the GAAP measure and may not be comparable to a similarly defined non-GAAP measure used by other companies. Six Months Ended June 30, 2025 June 30, 2024 CASH FLOWS FROM OPERATING ACTIVITIES: Consolidated net loss $ (2,133,644 ) $ (2,598,092 ) Adjustments to reconcile net loss to net cash provided by (used in) operating activities: Depreciation and amortization 391,381 281,498 Provision for (recovery of) credit losses (75,000 ) 19,063 Stock-based compensation 83,439 89,998 Unrealized loss on investment securities 18,749 18,749 Gain on disposition of assets (280 ) (4,028 ) Non-cash interest expense 33,538 12,800 Changes in operating assets and liabilities (Increase) decrease in: Accounts receivable (538,938 ) 1,398,193 Inventory (45,224 ) 439,926 Unbilled revenue 272,160 – Prepaid assets and other current assets (268,691 ) (125,784 ) Other assets 186,766 576,926 Increase (decrease) in: Accounts payable 803,540 (108,646 ) Accrued expenses and other current liabilities 85,325 39,838 Deferred revenue (2,193,607 ) 806,266 Other liabilities (395,134 ) (756,410 ) Net cash provided by (used in) operating activities (3,775,620 ) 90,297 CASH FLOWS FROM INVESTING ACTIVITIES: Purchases of property and equipment (277,989 ) (556,636 ) Proceeds from disposition of assets 280 36,213 Distributions to non-controlling interest (42,956 ) (48,654 ) Net cash used in investing activities (320,665 ) (569,077 ) CASH FLOWS FROM FINANCING ACTIVITIES: Finance lease principal payments (63,010 ) (30,577 ) Proceeds from exercise of stock options 394,926 – Net cash provided (used in) by financing activities 331,916 (30,577 ) Net increase (decrease) in cash and cash equivalents (3,764,369 ) (509,357 ) Cash and cash equivalents, beginning of the period 5,405,233 1,351,270 Cash and cash equivalents, end of the period $ 1,640,864 $ 841,913 Supplemental disclosure of cash flow information: Cash paid for interest $ 36,526 $ 22,909 Cash paid for taxes $ 17,687 $ 22,100 Non-cash investing activities Right-of-use assets acquired under operating leases $ 193,480 $ 1,547,800 Right-of-use assets acquired under finance leases $ 557,893 $ 27,282 Aegis Contract and Related Asset Acquisition: Contingent consideration $ – $ 272,901 Non-cash financing activities Related party note conversion to common stock $ 514,148 $ – SOURCE: Tecogen, Inc. View the original press release on ACCESS Newswire
Yahoo
9 hours ago
- Yahoo
Even a 1% mortgage rate drop could be enough to ‘unlock' the frozen housing market, Oxford Economics says
Mortgage rates are currently in the high 6% range, and a drop back to the pandemic-era sub-3% levels is considered unrealistic by economists. However, a modest decline in rates to below 6% could motivate some homeowners to sell, potentially thawing the frozen housing market constrained by homeowners holding onto low-rate mortgages. Shop Top Mortgage Rates Your Path to Homeownership Personalized rates in minutes A quicker path to financial freedom If you're waiting for mortgage rates to fall to around 3% to buy a home, don't hold your breath. The likelihood mortgage rates will drop anywhere near those pandemic-era levels is 'unrealistic,' a Zillow economist recently said. But not all hope is lost on the U.S. housing market, at least according to one economist. Bob Schwartz, a senior economist with Oxford Economics, told Fortune while there's 'no quantifiable rate' that would trigger more home sales, just a 1% drop in mortgage rates to lower than 6% should be 'enough of an incentive' for at least some current homeowners to sell their homes and 'trade up.' One of the prime factors keeping the U.S. housing market frozen is mortgage rates. During the pandemic, buyers locked in at a sub-3% mortgage rate. But now that mortgage rates are hovering between 6% and 7%, current homeowners have little incentive to sell their current homes and either 'trade up,' as Schwartz puts it, or downsize. New buyers are also resistant to higher mortgage rates than they've witnessed in recent memory. In fact, the percentage of mortgages outstanding with a rate higher than 6% has more than doubled since 2021, according to Schwartz, but that figure is still less than 20%. More than 50% of outstanding mortgages have rates in the 3% to 4% range. While Schwartz told Fortune mortgage rates would have to 'drop significantly' from the current 6.63% to move the masses of homeowners off the sidelines and put their homes up for sale, a smaller drop could encourage enough people to do so. 'The housing market would be the biggest beneficiary of lower rates as they would unlock frozen sales by homeowners who are reluctant to give up the low-rate mortgages taken out in the decade following the Great Recession,' Schwartz wrote in an Aug. 8 note. Other recent reports have also illustrated how little faith there is in mortgage rates dropping to pandemic-era levels and how other housing market factors play into housing affordability concerns in the U.S. A recent Zillow report showed a 0% mortgage rate in some U.S. cities wouldn't be enough to make housing affordable because home prices still remain too high; they're up more than 50% since the start of the pandemic. High home prices 'are the bigger hurdle,' Michelle Griffith, a luxury real-estate broker with Douglas Elliman, based in New York City, previously told Fortune. 'Inventory is tight and competition is high, so the cost of the property itself is what keeps most buyers on the sidelines,' Griffin said. Refinancing and future mortgage predictions While a drop in mortgage rates could encourage outright sales, Schwartz told Fortune another likely scenario would be current homeowners refinancing to a lower rate. Although that may not thaw the frozen housing market as much as Americans may hope, it could be good for the economy in other ways. 'A significant increase in refis could have a significant impact on spending, particularly if a good chunk is of the cash-out variety,' Schwartz said. 'Homeowners are sitting on $34.5 trillion of housing equity, which could be tapped into for spending purposes.' To be sure, mortgage rates would have to 'fall pretty drastically' for that to happen, which Oxford Economist doesn't see in their outlook at this point, he added. In relation to mortgage rates, all eyes have been on the Federal Reserve's upcoming Federal Open Market Committee (FOMC) meeting in September that will determine interest rates. On Tuesday, the Consumer Price Index summary reported inflation notched up just 0.2% in July, bringing headline inflation to 2.7%, better than many expected. Still, it's ahead of the Fed's 2% target. While the CPI report had little impact on the 10-year Treasury rate, which is the benchmark for mortgage rates, it shouldn't prevent the Fed from cutting rates in September, Schwartz said. 'Although with inflation still sticky and well above the Fed's 2 % target … we still believe the Fed will wait until December to cut,' he added. 'However, if the upcoming jobs report for August is a dud, similar to the July one, odds are the Fed will cut in September.' This story was originally featured on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
10 hours ago
- Yahoo
5 Insightful Analyst Questions From Zillow's Q2 Earnings Call
Zillow's second quarter performance saw revenue exceed Wall Street expectations, supported by robust growth in both its For Sale and Rentals businesses. Management credited the company's strategy of integrating digital tools—such as BuyAbility and AI-powered agent support—with cost discipline as key drivers of the quarter. CEO Jeremy Wacksman emphasized Zillow's continued market share gains, noting that 'we are gaining share in For Sale and Rentals, and we're doing it while maintaining cost discipline.' The Rentals segment, in particular, benefited from multifamily expansion and increased engagement with large property managers, while the For Sale category outpaced broader industry trends, aided by new product features and expanded market coverage. Is now the time to buy ZG? Find out in our full research report (it's free). Zillow (ZG) Q2 CY2025 Highlights: Revenue: $655 million vs analyst estimates of $647.2 million (14.5% year-on-year growth, 1.2% beat) Adjusted EPS: $0.40 vs analyst expectations of $0.41 (3.2% miss) Adjusted EBITDA: $155 million vs analyst estimates of $152.4 million (23.7% margin, 1.7% beat) Revenue Guidance for Q3 CY2025 is $668 million at the midpoint, roughly in line with what analysts were expecting EBITDA guidance for Q3 CY2025 is $155 million at the midpoint, below analyst estimates of $160.1 million Operating Margin: -1.7%, up from -6.6% in the same quarter last year Market Capitalization: $19.25 billion While we enjoy listening to the management's commentary, our favorite part of earnings calls are the analyst questions. Those are unscripted and can often highlight topics that management teams would rather avoid or topics where the answer is complicated. Here is what has caught our attention. Our Top 5 Analyst Questions From Zillow's Q2 Earnings Call Ron Josey (Citi) asked about the factors driving Rentals acceleration and confidence in full-year growth. CEO Jeremy Wacksman emphasized expanding inventory, strong advertiser ROI, and new partnerships as key contributors. Brad Erickson (RBC) questioned the impact of the Redfin partnership on Rentals revenue. CFO Jeremy Hofmann explained that expanded distribution increases value for property managers and broadens the addressable market. Ryan McKeveny (Zelman & Associates) asked about the monetization of Zillow Showcase and whether direct consumer demand factors into revenue targets. Wacksman clarified that both agent- and seller-driven adoption contribute to overall growth. John Colantuoni (Jefferies) inquired about variable expense growth and milestones for aligning costs with revenue. Hofmann stated investments are concentrated in Rentals and Home Loans, with plans to moderate as initiatives scale. Andrew Boone (Citizens Bank) sought insight on AI's role in automation and agent productivity. Wacksman described how AI-powered tools are already streamlining workflows and enhancing client engagement, with further efficiencies anticipated. Catalysts in Upcoming Quarters In the coming quarters, StockStory analysts are monitoring (1) the pace of Rentals revenue growth and multifamily property additions, (2) expansion of Enhanced Markets and the rollout of associated technology tools, and (3) the impact of AI-driven solutions on agent adoption and consumer engagement. Progress on partnerships and continued cost discipline will also be key indicators of execution. Zillow currently trades at $76.98, down from $81.51 just before the earnings. Is the company at an inflection point that warrants a buy or sell? The answer lies in our full research report (it's free). Our Favorite Stocks Right Now Trump's April 2025 tariff bombshell triggered a massive market selloff, but stocks have since staged an impressive recovery, leaving those who panic sold on the sidelines. Take advantage of the rebound by checking out our Top 5 Strong Momentum Stocks for this week. This is a curated list of our High Quality stocks that have generated a market-beating return of 183% over the last five years (as of March 31st 2025). Stocks that made our list in 2020 include now familiar names such as Nvidia (+1,545% between March 2020 and March 2025) as well as under-the-radar businesses like the once-micro-cap company Tecnoglass (+1,754% five-year return). Find your next big winner with StockStory today. StockStory is growing and hiring equity analyst and marketing roles. Are you a 0 to 1 builder passionate about the markets and AI? See the open roles here. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data