The University of Michigan’s consumer sentiment increased for the fourth straight month in November and is at its highest level since hitting 77.2 in April. WASHINGTON – Consumer sentiment in the U.S. improved slightly less than previously estimated in the month of November, according to revised data released by the University of Michigan on Friday. … Read more
Growing supply of multifamily housing suggests a 1.1% increase in rental stock to more than 49 million units by next fall, with the biggest increases in the South and West. SANTA CLARA, Calif. – Rents fell by -0.8% to $1,720 in October, marking their fifteenth consecutive month of year-over-year declines and falling the most for … Read more
AI has become one of real estate’s fastest-adopted technology tools, embraced by brokerages and agents at a breakneck speed despite anxiety over safeguards. CANTON, Ohio – The popularity and use of artificial intelligence (AI) in real estate has become nearly ubiquitous among America’s leading real estate brokerages, with 75% already using the technology and … Read more
The average 30-year mortgage rate rose to 6.84% from 6.78% last week, the highest since July. Rates on 15-year fixed-rate mortgages increased to 6.02% from 5.99%. NEW YORK — The average rate on a 30-year mortgage in the U.S. edged closer to 7% this week as it climbed to its highest level since July. The … Read more
Overall, house hunters prioritize more space, upgrading to a better home or neighborhood or finding a lower cost of living when planning their next move. SEATTLE — Nearly one in seven (13.7%) home hunters say a concern for natural disasters or climate risks in their area is a reason they are likely to move in … Read more
On a year-over-year basis, home prices rose 5.9%, which is the smallest annual increase since December. Buyer demand is coming back. SEATTLE — U.S. home prices grew 0.5% from a month earlier in October on a seasonally adjusted basis, matching September’s increase, according to a new report from the real estate brokerage Redfin. On a … Read more
The National Association of Home Builders said builders expect market conditions to improve even with labor shortages and higher building material prices. WASHINGTON — Builder sentiment improved for the third straight month and builders expect market conditions will continue to improve with as the new administration takes control of the White House and Congress. Builder … Read more
The office market is showing signs of stabilization as companies offer amenities, such as outdoor decks, to lure workers back to their desks. NEW YORK — As more companies recommit to an in-office culture, the nation’s retreat from office property may be ending. In the third quarter of this year, one-third of all companies are … Read more
October existing home sales rose 1.6% month over month and are on track to finish this year higher than last year. SEATTLE — Existing home sales rose 1.6% month over month in October — the biggest gain since January 2022 — to a seasonally adjusted annual rate of 4,179,346, according to a new report from … Read more
The program, similar to My Safe Florida Home, provides services to protect residences against storms and reduce insurance premiums. TALLAHASSEE, Fla. — The My Safe Florida Condo initiative officially launched this week, offering free inspections and grant funding for wind mitigation improvements to help eligible condominium associations strengthen their properties against hurricanes. The program, similar … Read more
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