MIAMI – Nearly everything in Robert Burr’s house is solar-powered. Solar-powered pumps burble water through fountains and bird feeders in his yard, which at night is lit by the glow of 125 solar-powered lights. On his roof, an array of 39 solar panels power his house and charge the electric car parked in his garage. … Read more
In 1Q 2023, 42.9% of sellers made a buyer concession; in 1Q 2022, it was 25.5%. Some do it to keep a transaction moving forward, others to match homebuilders’ freebies. SEATTLE – Home sellers gave concessions to buyers in 42.9% of U.S. home sales during the three months ending April 30, up from 25.5% a … Read more
More buyers frustrated with the limited number of existing homes turned to builders for relief in April. Sales growth is notably rising in the $200K-$400K range. WASHINGTON – Sales of newly built, single-family homes increased 4.1% to a 683,000 seasonally adjusted annual rate in April. That’s up from a downwardly revised reading in March, according … Read more
Most people shed possessions slowly over time, but a change in circumstances sometimes requires that it be done quickly. A three-step triage plan can help. NEW YORK – Ideally, you’d spend months or even years carefully purging excess belongings – but life may have other plans. Maybe you or someone you love has a health … Read more
NEW YORK – Canandaigua and Manhattan’s Chinatown are about as different from each other as two places in the same state can be. One is a small town in New York’s bucolic Finger Lakes region, where almost everyone is a white English-speaker. Chinatown packs nearly 10 times as many residents, many of them foreign-born and … Read more
The board met May 11 during NAR’s legislative meetings in Washington, D.C. Votes focused on the 2024 budget, dues, fair housing training requirements and more. WASHINGTON, D.C. – The National Association of Realtors® (NAR) Board of Directors met in Washington, D.C. on May 11 and took the following actions: Fair housing and diversity training The … Read more
Collateralized loan obligations (CLOs) offer easier terms for apartment building buyers, but their shorter terms and floating interest rates may be creating problems. NEW YORK – Defaults are rising for collateralized loan obligations (CLOs), which are mortgages packaged into bonds and sold to investors. These types of mortgages helped fuel rising housing costs across Sunbelt … Read more
The market slowed a bit nationally, but not in S. Fla., which is seeing slower, yet positive home value gains. About 2 out of 3 homeowners (65.3%) are “equity rich.” MIAMI – Homeowners across South Florida are seeing equity gains in their homes, despite the national housing market slowing down. About 65.3% of residential properties … Read more
Realtors can’t sell homes that aren’t listed for sale, and NAR’s chief economist cites a lack of inventory as the prime cause of March’s drop in signed contracts. WASHINGTON – Pending home sales decreased in March for the first time in five months (November 2022), according to the National Association of Realtors® (NAR). Of the … Read more
Sales surpassed economists’ expectations. Builders say decreasing mortgage rates and the existing-home market’s lack of inventory probably pushed sales higher. WASHINGTON, April 25 – Lower mortgage rates and limited existing inventory helped push March sales of newly built, single-family homes up 9.6% to a 683,000 seasonally adjusted annual rate, according to data by the U.S. … Read more
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