Fla. Realtors chief economist: “Florida weathered the storm” of higher interest rates and ongoing inflation making 2023, a “rough year for residential real estate.” ORLANDO, Fla. – As 2023 ended, Florida’s inventory of for-sale existing homes and condo properties showed gains over 2022, while statewide median sales prices continued to rise year-over-year despite higher interest … Read more
NAR’s chief economist said December sales “look to be the bottom before inevitably turning higher in the new year” on lower mortgage rates and increasing inventory. WASHINGTON — Existing-home sales slid in December, according to the National Association of Realtors®. Among the four major U.S. regions, sales slipped in the Midwest and South, rose in … Read more
Florida Realtors chief economist: Watch for the market to reignite over the next several months. “We have weathered the worst of it.” ORLANDO — Watch for the Florida real estate market to slowly start growing in 2024 as interest rates flatten and consumers begin realizing what they’re seeing is the new normal in prices and … Read more
Most adult Gen Zers are tracking ahead of where their parents were at the same age, likely because they bought when rates were near record lows. SEATTLE— More than a quarter (26.3%) of adult Gen Zers owned a home in 2023, little change from the previous year. At the same time, homeownership among millennials and … Read more
Single women have different buying considerations than those of other buyers, a Harvard University study found. NEW YORK – Real estate professionals should understand female buyers to be successful, including the preference for safe neighborhoods and gated communities. The Joint Center for Housing Research at Harvard University found that women prefer condominiums, townhomes or single-family … Read more
New mortgage applications increased 10.4% from one week earlier, according to the Mortgage Bankers Association. WASHINGTON — Mortgage applications increased 10.4% from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending January 12, 2024. Last week’s results included an adjustment to account for the … Read more
A FEMA survey found roofs built after 2015, after changes to building codes, fared better in high-wind environments. When Hurricane Ian struck southwest Florida in 2022, homeowners’ roofs built after 2015, which is when new building codes took effect, experienced lower damages than older roofs. The new building codes require roofs to be attached to … Read more
Homeowners are increasingly coming to terms with higher interest rates and aren’t waiting to sell, Redfin found. NEW YORK – A growing number of homeowners with low interest rate mortgages aren’t waiting to move until rates have dropped. Rather, they’re increasingly opting to move into new homes and take on higher interest rate mortgages, according … Read more
FREC adopted a rule to implement a portion of Senate Bill 264 entitled Interests of Foreign Countries. ORLANDO, Fla. – A rule containing buyer affidavits went into effect today, Jan. 17, 2024. It was created by the Florida Real Estate Commission (FREC) with the help of industry partners. It relates to SB 264, which, in … Read more
Applications for Florida Realtors Board Certified Professional endorsement open Tuesday, Jan. 16, 2024. The endorsement showcases the highest level of professionalism, achievement and ethical standards. Applications close March 31, 2024. ORLANDO – The second application period opens Tuesday, Jan. 16, 2024, for Florida Realtors® Board Certified Professional endorsement and closes March 31, 2024. Who are … Read more
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