Fed Chair Powell says the economy needs to cool as inflation remains stubbornly high – but another interest rate hike may not be needed. It might just take time. WASHINGTON (AP) – Federal Reserve Chair Jerome Powell said Thursday that inflation remains too high and that bringing it down to the Fed’s target level will … Read more
Census Bureau: Fla. and Arizona welcomed more relocating Californians last year as Texas numbers dropped. In 2021, 37K moved to Fla.; in 2022, it grew to 50K. ORLANDO, Fla. (AP) – The number of former Californians who became Texans dropped slightly last year, but some of that slack was picked up by Arizona and Florida, … Read more
The Mortgage Bankers Assoc. predicts a decline from 2021’s $816B to $442B this year as interest rates keep rising and supply/demand’s future remains murky. WASHINGTON, D.C. – Total commercial and multifamily mortgage borrowing and lending is expected to fall to $442 billion this year – a 46% decline from 2022’s total of $816 billion, according … Read more
Ameris Bank will settle with the Justice Dept. for $9M because it allegedly didn’t underwrite many mortgages in largely Black and Latino Jacksonville communities. WASHINGTON (AP) – The Justice Department has secured a $9 million settlement with Ameris Bank over allegations that it avoided underwriting mortgages in predominately Black and Latino communities in Jacksonville, Florida, … Read more
Median home prices rose 2.8% year-to-year under NAR’s seasonally adjusted formula, and the inventory of unsold existing homes climbed 2.7% month-to-month. WASHINGTON – Existing-home sales faded in September, according to the National Association of Realtors® (NAR). The Northeast region saw a small increase, but the Midwest, South and West all registered year-over-year sales declines. Total … Read more
One day this won’t be true as artificial intelligence (AI) improves, but most computer-generated content currently has some traits that say, “Hey, I’m from AI.” NEW YORK – Businesses increasingly use ChatGPT and other artificial intelligence (AI) tools to churn out social media posts, blog articles, marketing materials, real estate listings and more. Although AI-assisted … Read more
If you can tell what’s trending by looking at the words becoming more common in listings, expect demand for brutalism, sensory pathways and cold plunge pools. NEW YORK – Ready to boost your home value as much as possible? With high mortgage interest rates putting a damper on home prices, now is the time to … Read more
Buyers have doubts now thanks to inflation, rising home prices and higher mortgage rates. While some best-practice seller tactics haven’t changed, some have. ©Florida Realtors® Source link
In Fla., median income is less in six metros and higher in three, ranging from an $88.7K yearly income in Lakeland (up 13.4% year-to-year) to $143K in Miami (up 33.4%). SEATTLE – The average U.S. household must earn $114,627 to afford a median-priced U.S. home, up 15% ($15,285) year-to-year and more than 50% since the … Read more
FHA will allow expected rental income from an accessory side unit to be considered for an FHA loan, the 203(k) fixer-upper program will be improved, and more. WASHINGTON – A White House press release announced new initiatives to support homeownership, though with a nod to the market’s current difficulties and a request for Congress to … Read more
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