The new budget includes significant funding linked to Florida Realtors’ legislative priorities, including $100 million for the Hometown Heroes Housing Program. The new budget includes significant funding linked to Florida Realtors Legislative priorities, including $100 million for the Hometown Heroes Housing Program. TALLAHASSEE – Gov. Ron DeSantis signed Florida’s 2024-2025 Fiscal Year budget on Wednesday, … Read more
The gap between Black and white homeownership rates closed over the pandemic, but disparities remain. SEATTLE – The homeownership rate for Black households has grown faster than average since 2019, but it’s still below the high-water mark reached in 2004, before the Great Recession. Insufficient credit is holding many Black households back from homeownership. Nearly … Read more
The pace of housing starts was 17.7% higher than a year ago, but still insufficient to meet the demand, experts say. Higher rates have stymied homebuilding. WASHINGTON – Housing starts in April posted a monthly gain of 5.7% to a seasonally adjusted annual rate of 1.36 million units, following a 17% fall in March, … Read more
The early years as a new agent can be tough, but there are ways to make it more manageable, such as by taking classes and going to events. WASHINGTON — Real estate sales can be one of the most challenging yet most rewarding careers out there. Passing the state exam is hard enough but once … Read more
While the Fed doesn’t set mortgage rates, it influences them. Even with higher rates, it could be a good time to buy, one economist said. NEW YORK — Mortgage rates, credit card rates, auto loan rates, and business loans with variable rates will all likely maintain their highs, with consequences for consumer spending, after the … Read more
Responses to the nationwide survey said Americans remain concerned about high prices, particularly for food and gas. WASHINGTON — U.S. consumer confidence deteriorated for the third straight month as Americans continue to fret about their short-term financial futures with prices and interest rates still elevated. The Conference Board, a business research group, said Tuesday that … Read more
The average rate on a 30-year mortgage rose to 7.1%, the highest level since late November. The average rate for 15-year fixed-rate mortgages rose to 6.39%. LOS ANGELES — Prospective homebuyers are facing higher costs to finance a home with the average long-term U.S. mortgage rate moving above 7% this week to its highest level … Read more
The average Florida home value doubled in six years. Tampa and Miami tied for having the third-fastest price doubling among large U.S. cities. MIAMI – The national median home price is twice what it was ten years ago. Molded by a storm of inflation, tight supply and surging demand, the average home price in the … Read more
One economist said consumers appear to be adjusting their expectations for the housing market to better accommodate higher mortgage rates and home pricing. WASHINGTON – While a growing number of consumers think mortgage rates will increase in the coming year, their optimism about the home buying and selling market ticked up, according to Fannie Mae’s … Read more
Consumer optimism among Florida residents dipped in February on views about personal finances and expectations over the national economy, UF economists said. GAINESVILLE, Fla. – Following five consecutive monthly increases, consumer sentiment among Floridians dipped 2.1 points in March to 72, down from a revised figure of 74.1 in February. This decline contrasts with the … Read more
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