The average new-home size dropped 45 square feet to 2,480 in 2022, says NAHB. It predicts home sizes will expand this year before dropping again in 2024. LAS VEGAS – Following a brief uptick in new home sizes in 2021, the average size of a new home dropped slightly from 2,525 square feet to 2,480 … Read more
Appraiser Qualifications Board chair: Appraisal bias “a threat to the public’s trust in the appraisal profession.” Proposed changes would mandate fair-housing education. WASHINGTON – The Appraiser Qualifications Board this week released a First Exposure Draft of proposed changes to the Real Property Appraiser Qualification Criteria. If adopted, the proposed changes would make fair-housing education courses … Read more
Since people love friends and generally avoid salespeople, a call to “check in,” or an “I stopped by with this small gift” makes you seem more like a friend. NEW YORK – A prime source of leads for real estate professionals is their database list of previous clients. Many agents hesitate to call clients because … Read more
In the latest 20-city index, U.S. home prices rose 7.7% year-to-year and dropped 0.6% month to month. But two Fla. cities, Tampa and Miami, saw different results. NEW YORK – The latest S&P Dow Jones Indices released on Tuesday and covering November 2022 found a repeated pattern: The index measuring U.S. home prices year-to-year was … Read more
The Consumer Confidence Index rose to 109 in Dec. and dropped a bit to a still-optimistic 107.1 in Jan. as the possible threat of a 2023 recession looms. BOSTON – American consumers are kicking off 2023 a bit less confident than they were at the end of last year as inflation and the possibility of … Read more
TORONTO – On January 1, 2023, the Canadian government’s Prohibition on the Purchase of Residential Property by Non-Canadians Act (the Act) and the associated Prohibition on the Purchase of Residential Property by Non-Canadians Regulations (the Regulations) came into effect. The Act prohibits “non-Canadians” – which, by virtue of the Regulations, includes entities formed outside of … Read more
SARASOTA, Fla. – When Dan Graue read a letter from the Sarasota County Property Appraiser that notified him he had been dodging taxes on his homesteaded property and now owed more than $64,000 in fines and back taxes, he thought there must have been an error. He and his wife, Jennifer, had owned the house … Read more
Prices didn’t stop rising in 2022, increases just slowed. U.S. sellers averaged a $112K profit, up 21% – and eight of the top investment returns were in Fla. metros. IRVINE, Calif. – According to Attom’s end-of-year report, the typical sales profit percentage rose from 2021’s 45% to 51% last year, even with values dropping in … Read more
Goldman Sachs 2023 prediction includes a 2008-type housing crisis, but only in four U.S. cities it considers “overheated”: San Jose, Austin, Phoenix and San Diego. NEW YORK – Goldman Sachs is predicting dark days in 2023 for some of the pandemic’s red-hot U.S. housing markets. The investment bank shied away from predicting a nationwide crash, … Read more
Pending home sales rose for the first time in six consecutive months, thanks in part to lower interest rates. Economist Yun says home sales’ low point “is likely over.” WASHINGTON – December pending home sales increased for the first time since May 2022, breaking a report-after-report decline that lasted six consecutive months. According to the … Read more
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