11% of metros saw double-digit price increases in 3Q, even though buyers faced a one-year mortgage payment increase of 19.2%. In 2Q, prices rose in only 58% of metros. WASHINGTON – More than 80% of metro markets (182 out of 221) posted home price gains in the third quarter of 2023 when the 30-year fixed … Read more
About 12K Realtors will gather in Anaheim, Calif., next week, with some sessions offered virtually. Its “Own the Moment” theme will feature Mindy Kaling. WASHINGTON, D.C. – Realtors® from across the country and world will converge on Anaheim, California, Nov. 14-16 for 2023 NAR NXT, The Realtor® Experience, NAR’s annual conference and expo. This year’s … Read more
Florida Realtors VP Juana Watkins urged patience in a Thur. webinar, which is now available online. The decision might have an impact but the process will take years. ORLANDO, Fla. – A jury in the Burnett v. NAR et al case found the National Association of Realtors® (NAR) liable under U.S. antitrust laws. In the … Read more
Tracy Kasper calls the ruling “disappointing, (but) just one chapter in a longer legal process.” She answers some key questions, including: How does this affect my business? CHICAGO – National Association of Realtors® (NAR) President Tracy Kasper released a series of Q&As based on questions NAR has been receiving since the verdict in the Burnett … Read more
In Fla., cash sales dropped year-to-year in only one metro: Fort Lauderdale. The percentage of cash sales ranged from 38.2% in Tampa to 49% in West Palm Beach. SEATTLE – Just over one-third (34.1%) of U.S. home purchases in September were made in cash, up from 29.5% a year earlier and the highest share in … Read more
Electronic fund transfer problem wasn’t a scam: TCH, which is owned by 22 major banks, says some e-deposits failed last week due to a technical error. SAN FRANCISCO (AP) – A processing glitch in the network that processes electronic transfers between nearly all U.S. bank accounts led to delays in settling deposits, some of which … Read more
Some homebuyers priced out of the market opt for a mortgage buydown, usually funded by sellers, in order to lower their monthly payments for the first few years. RICHMOND, Va. – Mortgage rates have risen since the Federal Reserve implemented a new monetary policy in 2022, almost hitting 8%. As of Nov. 2, the average … Read more
The Florida Department of Agriculture proposed wording is an ownership-reporting rule if residents of select foreign countries already own or inherit land in Fla. TALLAHASSEE, Fla. – SB 264, a bill related to sales to “foreign principals, persons and entities“ went into effect on July 1, 2023. Under SB 264, three Florida agencies were tasked … Read more
Artificial intelligence (AI) – really just a giant computer network – needs space to operate, making digital-data space a high growth commercial-market niche. NEW YORK – A corner of the U.S. commercial property market is flourishing as developers erect data centers – brick-and-mortar homes for digital data. In especially high demand? Buildings designed for artificial … Read more
Recession fears and rising interest rates created caution in the commercial market. Lenders pulled back and, so far, 2023 has seen the slowest growth since 2011. NEW YORK – When the Federal Reserve started hiking interest rates in the first half of 2022 and concerns about a recession increased, banks, insurance companies and other commercial … Read more
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