WASHINGTON – An ongoing boom in apartment construction has helped slow down rental inflation — but renters shouldn’t expect prices to drop dramatically from their pandemic-padded highs. That means affordability will remain the dominant narrative in rental housing in 2024. The combination of a pandemic economic rebound, a longtime shortage of rental housing stock and … Read more
MIAMI — South Florida saw the highest number of condominiums selling out to developers since the pandemic. More buyouts are in the pipeline, raising questions about the future of South Florida’s skyline. Miami-Dade and Broward saw 18 condo buyouts last year, the highest number since 2019 when both counties had a total of 23 buyouts, … Read more
Funding through the Florida Job Growth Grant Fund (JGGF) is aimed at infrastructure improvements and workforce development in the Big Bend region, the governor’s office said. LIVE OAK, Fla. — Gov. Ron DeSantis announced an award of more than $66 million to Hurricane Idalia-impacted communities, including more than $9.2 million to the Suwannee County Board … Read more
President Joe Biden called for a $10,000 tax credit for first-time homebuyers and the construction of two million homes during his State of the Union address Thursday. WASHINGTON – President Joe Biden called for legislation that will lower homeownership costs, build millions of new homes nationwide and reduce rental costs. Biden, in his State of … Read more
Santa Rosa County officials, military leaders and others say housing shortages near Florida military bases are concerning. One official said it creates “readiness problems.” PENSACOLA – During a meeting at Hurlburt Field in Okaloosa County with Air Force Lt. Gen. Tony Bauernfeind, local leaders discussed the lack of affordable and attainable housing in Northwest Florida … Read more
The average rate on 30-year and 15-year fixed-rate mortgages dropped this week and applications rose for the first time in six weeks, a Freddie Mac economist reported. LOS ANGELES — The average long-term U.S. mortgage rate edged lower for the first time in five weeks, a welcome shift for home shoppers this spring homebuying season. … Read more
The percentage of Hispanic and Black homeowners in Miami-Dade and Broward counties has decreased as home prices have increased. MIAMI – Since 2012, there are fewer Black and Hispanic homeowners in Miami-Dade and Broward counties, the latest U.S. Census Bureau data shows. The Census Bureau said there were 983,509 occupied Miami-Dade County residences in 2022, … Read more
CONYERS, Ga. – There are nine income tax-free states scattered across America. While tax-free income seems like paradise at first glance, it’s still important to understand the tax structures within these states are like a complex jigsaw puzzle. States still need to function, so some of the revenue puzzle pieces include sales tax, property taxes, and … Read more
With improving housing inventory, the Relitix Agent Movement Index rose in Jan., a trend that indicates real estate agents appear more confident about changing firms. LAKE GENEVA, Wis. – The Relitix’s Agent Movement Index shows that real estate agents are switching brokerages at a faster rate than in 2024 after staying put when housing inventory … Read more
NAHB: Buyers say they want smaller homes now and are looking for homes around 2,070 sq. ft., compared to 2,260 sq. ft. 20 years ago. WASHINGTON – Following a brief uptick in new home sizes in 2021, the average size of a new home continues to inch smaller – dropping from 2,479 square feet in … Read more
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