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. (more…)