Today’s News Synopsis:

Aaron Norris of the Norris Group gives this week’s Norris Group real estate headline roundup.  Despite wages growing less than expected, employment went up by its most in four months.  The Federal Reserve released its annual stress test, this time focusing more on commercial real estate.  Of all companies that estimate home values, Redfin’s was shown to be the most accurate.

In The News:

Redfin – “Independent Study Finds Redfin Estimate to be Most Accurate Among Top Automated Home-Value Estimates” (2-2-2017)

“Redfin (www.redfin.com), the next-generation real estate brokerage, today announced the findings of a comprehensive, independent study that found that the Redfin Estimate more accurately predicted the value of thousands of homes for sale than estimates from other leading providers of public home-value estimates.”

Yahoo Finance – “Real Estate Leads Gains on Thursday” (2-3-2017)

“U.S. market indexes were mixed on Thursday. For the day, the Dow Jones Industrial Average closed at 19884.91 for a loss of -6.03 points or -0.03%.”

Investor’s Business Daily – “Zillow Finds New Ways To Stay Atop Heap In Online Real Estate” (2-3-2017)

“Zillow Group (Z), operator of the online house-hunting network that dwarfs all competitors, has the inside track for winning a dominant share of real estate agents’ digital ad spending.”

Reuters – “Fed puts more emphasis on commercial real estate in 2017 stress test” (2-3-2017)

“The Federal Reserve is putting a bigger focus on commercial real estate in its annual “stress test” of how well the largest U.S. banks would fare in another financial crisis.”

Bloomberg – “Payrolls in U.S. Increase 227,000 While Wage Growth Weakens” (2-3-2017)

“U.S. employers added the most workers in four months while wage growth slowed more than projected, suggesting some slack remains in the labor market.”

CNN – “West Wing real estate: Who has proximity to Trump?” (2-3-2017)

“President Donald Trump is a real estate man, but that may not make one task of his new administration any less tedious: parceling out office space in the West Wing.”

DS News – “Positive Job Report to Lead to Supply, Rate Increases” (2-3-2017)

“The new year is off to a strong start—at least as far as the labor market is concerned. According to the latest Employment Situation Summary released by the U.S. Bureau of Labor Statistics today, jobs are on the incline, particularly in the construction, retail trade, and financial services industries.”

Orange County Register – “Luxury real estate startup Compass expands to Newport Beach, scores top agent Rob Giem” (2-3-2017)

“Compass, a luxury real estate startup with a $1 billion-plus valuation and high-tech star power, will open an office in Newport Beach this month.”