U.S. sales are “highly sensitive to changes in mortgage rates” says NAR Economist Yun. March inventory rose a meager 1% and prices were down 0.9%. WASHINGTON – U.S. existing-home sales edged lower in March, according to the National Association of Realtors® (NAR). Month-over-month sales declined in three out of four major U.S. regions included in … Read more
NAR: Warehouse, land and storefront demand rose since 2021 but resulted in fewer CRE purchases. Where legal, landlords report fewer addendums banning use. WASHINGTON – Realtors® are seeing a decline in commercial property purchases by marijuana industry-related businesses and a corresponding increase in leasing activity, according to a new study from the National Association of … Read more
WASHINGTON – For more than four months, Amina Thompson-Wright and her husband, Dannelle Wright, tried to buy a home in Southwest Philadelphia, where they had rented for a decade. But sellers kept rejecting their offers. So they switched their strategy. They started considering homes that needed work. “When you see something new and shiny, that’s … Read more
A study finds that several Fla. metros now “stand out for their extreme mismatches” between housing aid and asking rents, with Orlando the nation’s top “mismatch.” SEATTLE – During the first two years of the pandemic, the typical U.S. rent increased 18% while the value of housing vouchers rose only 7%. The vouchers also don’t … Read more
Older adults who want to buy a home after retirement or remodel using a second mortgage should apply for a loan before they retire rather than after. NEW YORK – Retired engineers Kelly and Derek Barkey assumed they would be approved when they applied for a $50,000 home equity line of credit two years ago … Read more
On Oct. 27, an appeal court ruled that a “housing emergency” did not exist in Orange County disallowing rent control. Mon.’s Supreme Court move lets that ruling stand. TALLAHASSEE, Fla. – On Monday, the Florida Supreme Court declined to take up a case involving rent control efforts in Orange County. As a result, an Oct. … Read more
FORT LAUDERDALE, Fla. – After torrential rains hit South Florida, particularly in Broward County, many residents are dealing with flooded cars, boats and homes. And while the storm wasn’t a hurricane, many will be filing insurance claims for their soaked property. Fort Lauderdale was drenched with a record 25.91 inches of rain Wednesday – an … Read more
The Consumer Bankers Assoc. president says social media sparked a panic, but the industry’s two unique bankruptcies had “a very specific demographic of depositors.” NEW YORK (AP) – Lindsey Johnson became president of the Consumer Bankers Association in 2022, representing the trade and lobbying organization for the nation’s big retail banks like Bank of America, … Read more
The 2023 Housing Choice Voucher (HCV) program funding is a 10.5% increase ($2.9B) over last year. It’s HUD’s largest single investment for affordable housing WASHINGTON – The U.S. Department of Housing and Urban Development (HUD) announced $30.3 billion for the Housing Choice Voucher (HCV) Program for 2023 – a $2.9 billion (10.5%) increase over the … Read more
Study: March asking rents fell 0.4% to $1,937 year-to-year, the lowest level in 13 months. But 4 Fla. cities in the study saw increases ranging from 0.7% to 3.9%. SEATTLE – The median U.S. asking rent fell 0.4% year-over-year to $1,937 in March – the first annual decline since March 2020 and the lowest median … Read more
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