Flat-fee brokerage Purplebricks pulls out of the U.S. market, we have May housing numbers for Texas, and we find out what Dallas-Fort Worth town was named to a list of the 34 richest towns in the U.S. – all in this week’s roundup of real estate news.
Purplebricks Hits the Bricks, Leaves U.S. Market
Less than two years after entering the U.S. market via Los Angeles, U.K.-based Purplebricks announced it would leave the market.
The flat-fee brokerage struggled as of late in its expansion, reporting a full-year operating loss of 34.1 million pounds (or roughly $43 million), Inman reported. It had previously announced this Spring that it was shutting down in Australia as well.
The company also saw its U.S. CEO, Eric Eckhardt, leave in May. It also began experimenting with more traditional models beyond the flat fee after the latter floundered in the states.
MOI At 3.8 Months in Texas During May
What DFW Town Is One of the 34 Richest?
The 34 richest towns in the U.S. have a lot in common — including the states they’re in, 24/7 Wall St.’s analysis revealed.
Two of those towns are in Texas — and one of them is in Dallas-Fort Worth. University Park came in at No. 8, with a median household income of $211,741, and a median home value of $1,193,800.
Bellaire, a Houston suburb, was No. 15, with a median income of $195,018, and a median home value of $803,000.
“To determine America’s richest towns, 24/7 Wall St. reviewed household income data from the U.S. Census Bureau’s American Community Survey in every American town with a population of between 1,000 and 25,000,” 24/7 Wall St. said. “Boroughs, census designated places, cities, towns, and villages were all considered.”
The richest towns had a lot in common — in addition to only being found in 11 states, all 34 have more adults with a bachelor’s degree than the national figure of 30.9 percent by almost double. In University Park, 87.2 percent have at least a bachelor’s degree, and in Bellaire, the number is 79.6 percent.
Source: USA Today