Compass Real Estate Just lost its Fortune 500 Status
Boston Condos for Sale and Apartments for Rent
Compass Real Estate Just lost its Fortune 500 Status
Not only did rock-bottom interest rates during the pandemic spur Boston condo buying bonanza, but with tight inventory, they also heated up the housing market in a way that hadn’t been seen since the bubble. Home buyers simply couldn’t pass up on 30-year fixed mortgages with a rate of 3%—or in some cases 2%. Few companies, of course, benefited more from that housing boom like Compass Real Estate.
More Bad News for Compass
That’s behind us now: The mortgage rate hike created by the Federal Reserve’s has set off a housing market slowdown. While national home prices remain fairly stable, Compass Real Estate hasn’t been so lucky as they have fallen off Fortune 500.
New Fortune 500 List
Recently Fortune 500 list was unveiled on Monday, it was missing Compass Real Estate, which had been on the list last year. Compass (No. 495 last year).
