October existing home sales rose 1.6% month over month and are on track to finish this year higher than last year. SEATTLE — Existing home sales rose 1.6% month over month in October — the biggest gain since January 2022 — to a seasonally adjusted annual rate of 4,179,346, according to a new report from … Read more
The program, similar to My Safe Florida Home, provides services to protect residences against storms and reduce insurance premiums. TALLAHASSEE, Fla. — The My Safe Florida Condo initiative officially launched this week, offering free inspections and grant funding for wind mitigation improvements to help eligible condominium associations strengthen their properties against hurricanes. The program, similar … Read more
Rates on 30-year mortgages slipped to 6.78% from 6.79% last week. Borrowing costs on 15-year fixed-rate mortgages fell to 5.99% from 6%. NEW YORK — The average rate on a 30-year mortgage in the U.S. edged lower this week, ending a six-week climb. The rate slipped to 6.78% from 6.79% last week, mortgage buyer Freddie … Read more
With more than 1.2 million new units built in the last two years and rising demand, landlords could have greater pricing leverage in 2025. NEW YORK – Once empty apartment units are being filled and, for the first time in three years, the vacancy rate stopped increasing last quarter, according to CoStar. Demand for apartments … Read more
A survey shows 29% of Americans said real estate was their top pick for investing money they won’t need for at least 10 years. NEW YORK — Investors look for various opportunities they hope will help them grow their wealth. Some invest in the stock market directly by buying stocks and bonds, while others choose … Read more
NAR’s Board of Directors approved the association’s operating, advocacy and consumer ad campaign budgets for 2025, among other actions. BOSTON — At its Monday meeting, the National Association of Realtors® Board of Directors approved NAR’s operating, advocacy and consumer ad campaign budgets and approved a membership figure of 1.4 million to serve as the basis … Read more
If an HOA hires a contractor who then causes damage, the HOA shares the responsibility for addressing those damages. Take clear photos of the damages. FORT LAUDERDALE, Fla. — Question: The landscaper hired by our HOA for the community damaged a large hedge in our yard that now must be replaced. My HOA says the … Read more
A typical homeowner has accumulated $147,000 in housing wealth over the last five years. Prices remain on solid ground, NAR’s chief economist said. CHICAGO —Homeowners continued to see their equity grow in the third quarter, with nearly 90% of major U.S. metro areas posting increases, the National Association of Realtors® reported Thursday. Markets in the … Read more
Consumer sentiment hits its highest since April. Long-term business conditions have reached their highest optimistic point in almost four years. WASHINGTON — U.S. consumer sentiment improved for the fourth-straight month, hitting its highest reading in six months, according to the University of Michigan’s Consumer Sentiment Index. The index climbed to 73.0 from 70.5 in October … Read more
The Fed cut its key interest rate by 0.25%, lowering it to 4.6%, as inflation drops near its 2% target. Interest rates impact mortgage rates. WASHINGTON — The Federal Reserve cut its key interest rate Thursday by a quarter-point in response to the steady decline in the once-high inflation. The rate cut follows a larger … Read more
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