Freddie Mac economist: Strong economic and inflation data “caused the market to re-evaluate the path of monetary policy, leading to higher mortgage rates.” MCLEAN, Va. – The 30-year fixed-rate mortgage (FRM) averaged 6.90%, this week, up from last week’s average of 6.77%, according to Freddie Mac. “Strong incoming economic and inflation data has caused the … Read more
Total existing sales slipped 1.7% year-over-year. Chief Economist Yun: Jan.’s “monthly gain is the start of more supply and demand.” Listings were modestly higher. WASHINGTON – Existing-home sales grew in January, up 3.1% from December, according to the National Association of Realtors®. Total existing home sales – completed transactions that include single-family homes, townhomes, condominiums … Read more
New poll: Many also don’t think the institutions – whether federal or local – that use their tax dollars spend the money in the best interest of “people like them.” CHICAGO – A majority of taxpayers feel they pay too much in taxes, with many saying that they receive a poor value in return, according … Read more
NEW YORK – Inflation is slowing, and job growth has surged but many Americans still feel the burden of expensive housing – fueled in part by high demand, low inventory and mortgage rates. Home prices across the U.S. rose 5.5% over the past year in December 2023 and they are projected to increase 2.8% year over year by December 2024, according to CoreLogic, … Read more
WASHINGTON – Homeownership rates for racial minorities increased in 2022, with Asian and Hispanic Americans achieving historic peaks. Despite these advancements, disparities persist among racial and ethnic groups, notably with Black homeownership lagging. People of color continue to endure significant buying challenges throughout and after their home purchases, according to a report released today by … Read more
As home affordability continues to challenge buyers, builders are now testing the market for smaller, more affordable starter homes – some just 400 square feet. NEW YORK – As home affordability becomes a concern for many, home builders are answering the call for homes that are more affordable and smaller, with some totaling just 400 … Read more
IRVINE, Calif. – Home sellers made a $121,000 profit on the typical sale in 2023, generating a 56.5% return on investment, according to Attom’s Year-End 2023 U.S. Home Sales Report. But even as both gross profits and profit margins remained near record levels, they decreased from 2022, marking the first declines in either category since … Read more
Panhandle residents with housing issues caused by the Jan. 9 severe weather are urged to apply for the RRF grant money to help their recovery efforts. ORLANDO, Fla. – The National Association of Realtors®’ (NAR) Realtors Relief Foundation announced a $100,000 grant to Florida Realtors® to help Panhandle residents with housing issues resulting from disastrous … Read more
Agriculture in the Big Bend region of Florida took the hardest hit while the storm surge wreaked havoc on businesses, homes and infrastructure. TAMPA, Fla. — A report from the National Hurricane Center estimates damage from Idalia to be around $3.6 billion, most of which occurred in the Big Bend region of Florida’s Gulf Coast. The … Read more
MIAMI – With the cost of homes out of reach for many families, developers in South Florida are now adding annexes to new construction, allowing relatives to live under the same roof. The extra space comes with a room or two and its own kitchen, much like those in-law quarters added to older homes. The built-in apartments … Read more
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