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
The area has a housing affordability problem in part because a limited amount of land for development continues to sell for higher amounts of money. FORT LAUDERDALE, Fla. – South Florida is seeing a stark drop in the number of new housing projects expected to be developed, as the region deals with an affordability crisis … Read more
SEATTLE – Roughly one of every seven (13.5%) U.S. homes sold by an investor in March sold for less than the investor bought it for, according to a new report from Redfin. That’s comparable with February’s 14.5% rate – the highest since 2016. It’s also nearly triple the share of a year earlier and compares … Read more
The Golden Isles Realtors Association told agents working just north of Fla. to double-check seller’s identities, noting that fake IDs have already been reported. BRUNSWICK, Ga. – Realtors in the Golden Isles may be asking sellers a few extra questions about their identities these days, but rest assured, those questions are to protect property owners … Read more
Study: March asking rents fell 0.4% to $1,937 year-to-year, the lowest level in 13 months. But 4 Fla. cities in the study saw increases ranging from 0.7% to 3.9%. SEATTLE – The median U.S. asking rent fell 0.4% year-over-year to $1,937 in March – the first annual decline since March 2020 and the lowest median … Read more
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