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
The switch to online records may be part of the problem. All of Florida’s 67 counties have some sort of property fraud alert program, but more people need to sign up. ORANGE PARK, Fla. – Across Florida, scammers are selling people’s land and even homes behind their backs. Officials are urging property owners to protect themselves this week. It’s called property deed … Read more
Check the paperwork and read for context. “Non-recourse” is more of a description of how a loan works than a direct term, so it could be described differently. FORT LAUDERDALE, Fla.– Question: We took out a reverse mortgage in 2011 and I thought I understood how it worked. However, having reviewed the documents, I cannot … Read more
Core inflation has declined, but housing costs remain high. Unless those costs cool, some experts doubt core inflation will return to the Fed’s 2% target. NEW YORK – Although core inflation has declined in the last year, the cost of housing continues to be stubbornly high. The cost of shelter for January increased 6% from … Read more
Fannie Mae: Homeowners aged 60+ like their homes and expect to age in place. Many feel good about their retirement financial plan and view home equity as a reserve. WASHINGTON – Older homeowners aged 60-plus years like their homes, many view the equity in those homes as a financial reserve, and a significant share are … Read more
Real estate professionals who are watching, learning, and adapting will reap the benefits of new technologies, as the industry is starting to see with generative AI. CHICAGO – It’s been a profitable few years for Big Tech – the dominant technology industry giants defined by their size, influence and financial success (namely Amazon, Apple, Google, … Read more
LAS VEGAS – While higher interest rates pushed single-family starts down in 2022 and 2023, production should move on a gradual upward path in 2024 as the Federal Reserve is on track to cut rates during the second half of the year with inflation slowing, according to economists speaking at the National Association of Home … Read more
HUD and Census Bureau: In Jan., new single-family home sales rose 1.5% month-to-month to a seasonally adjusted rate of 661,000. The pace is up 1.8% from Jan. 2023. WASHINGTON – Sales of new single-family homes in January increased 1.5% to a 661,000 seasonally adjusted annual rate from a downwardly revised reading in December, according to … Read more
That’s up from 6.90% last week, marking the 4th straight weekly increase. Rates have been creeping higher as reports show stronger-than-expected inflation. LOS ANGELES (AP) – The average long-term U.S. mortgage rate rose for the fourth consecutive week, another setback for prospective homebuyers just as the spring homebuying season gets going. The average rate on … Read more
Consumer spending, which grew at a 3% annual pace during the quarter, fueled the upswing. The nation’s economic growth has topped 2% for six consecutive quarters. WASHINGTON (AP) – The U.S. economy grew at a robust 3.2% annual pace from October through December, propelled by healthy consumer spending, the Commerce Department reported Wednesday in a … Read more
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