Two Fla. agencies will receive $425K each – one in C. Fla., one in the Palm Beaches – for fair housing testing and enforcement to eliminate discriminatory practices. WASHINGTON – The U.S. Department of Housing and Urban Development (HUD) is allocating $24,195,749.33 from its $56 million fiscal year (FY) 2023 budget to support 57 fair … Read more
Georgia Institute of Technology: A before/after study of new affordable housing found that it didn’t harm nearby home values – and in some cases, it raised them. ATLANTA – A new study from Georgia Tech’s School of Public Policy debunks a common belief about the impact of affordable housing on neighborhood property values. The researchers, … Read more
Survey: 12% of U.S. homeowners don’t have property insurance. About half of them have household incomes of $40K or less and say they can’t afford it. NEW YORK – Policyholders increasingly opt out of homeowners insurance as premiums become unaffordable. Bankrate found the average premium for $250,000 in dwelling coverage rose to $1,428 per year … Read more
Agents offer buyers and sellers their market expertise, but that expertise can quickly become stale in a fast-changing RE market without regular educational updates. NEW YORK – A major success factor for real estate agents is to never stop learning. Most top professionals have a continual desire for knowledge and realize that each day is … Read more
JACKSONVILLE, Fla. – As questions loom over the Federal Emergency Management Agency’s (FEMA) ability to fund disaster recovery efforts, people who lost homes to recent wildfires and storms are trying to make their way through the difficult process of securing financial aid. Residents in communities hit by Hurricane Idalia, the Maui fires or other recent … Read more
The order includes Citrus, Dixie, Hamilton, Lafayette, Levy, Suwannee and Taylor counties and clears the way for federal funds to aid in their recovery. TALLAHASSEE, Fla. – President Joe Biden on Thursday approved a federal disaster declaration to help state and local recovery efforts after Category 3 Hurricane Idalia slammed into North Florida’s Big Bend … Read more
Investors face the same problems as first-time buyers: low inventory and high mortgage rates. Dollar volume was down 42%, as investing in Jacksonville dropped 65%. SEATTLE – Investor home purchases fell 45% year-to-year in the second quarter, outpacing the 31% drop in overall home sales, according to a Redfin report. It’s the second-biggest decline since … Read more
An initial growth estimate of 2.4% was downgraded, though it’s still an acceleration from the 2% growth rate logged in the first quarter. WASHINGTON – The U.S. economy expanded at a 2.1% annual pace from April through June, showing continued resilience in the face of higher borrowing costs for consumers and businesses, the government said … Read more
Americans’ confidence took two steps forward (June and July) and one step back. Higher prices had an impact along with less certainty about the job market. BOSTON – The August Conference Board Consumer Confidence Index declined in August to 106.1, from a downwardly revised 114.0 in July, reflecting a bit less optimism among Americans. The … Read more
In June 2023, home prices were the same year-to-year – no increase or decrease – but they rose almost 1% in a month-to-month comparison. NEW YORK – S&P Dow Jones Indices (S&P DJI) data released for June 2023 show all 20 major metro markets reported month-over-month price increases for the fourth straight month, and prices … Read more
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