Despite high interest rates, jobless claims this week dropped to 209K. The economy’s durability raises hopes the Fed can continue to reduce inflation without a recession. WASHINGTON (AP) – The number of Americans applying for unemployment benefits fell sharply last week, a sign that U.S. job market remains resilient despite higher interest rates. The Labor … Read more
RE Q&A: Tenants don’t have to pay rent for the time their place is inhabitable. But landlords aren’t required to find them a temporary place or pay for it either. FORT LAUDERDALE, Fla. – Question: Our rental townhouse had an issue with the roof that leaked water into one of the bedrooms our renters use … Read more
Fannie Mae researchers: Mortgage rates in 2024 will retreat from recent highs and average 6.8% by year’s end; in turn, home sales will increase modestly over the year. WASHINGTON, D.C. – Economic growth remains likely to decelerate and ultimately result in a mild recession in 2024, followed by a return to growth in 2025, according … Read more
Total sales fell 14.6% year-over-year. Single-family home sales were down 4.2% month-to-month and down 14.6% year-over-year. Single-family median price was $396,100. WASHINGTON – Existing-home sales dropped in October, according to the National Association of Realtors®. Among the four major U.S. regions, sales slid in the Northeast, South and West but were unchanged in the Midwest. … Read more
FloridaCommerce: HUD has approved Fla.’s action plan for $910M in Community Development Block Grants funding for long-term recovery efforts in 20 impacted counties. TALLAHASSEE, Fla. – FloridaCommerce announced the approval of the Florida’s State Action Plan for Hurricane Ian recovery from the U.S. Department of Housing and Urban Development (HUD). The Action Plan outlines the administration … Read more
To get past the front door, take value-adds along like handouts with info about local events, home improvement ideas, or other tips. VENTURA, Calif. – While content marketing is the branding strategy of choice for many realty professionals today, others favor the hands-on approach. Going door-to-door, hosting in-person events, and/or making cold calls allows agents … Read more
At an NAR panel last week, industry experts said that when multiple generations live together, it can help address affordability concerns and homeownership gaps. ANAHEIM, Calif. – A panel of housing industry experts discussed how multigenerational housing could help combat housing supply shortages and growing homeownership gaps last week during the National Association of Realtors® … Read more
OIR: That’s up from $287.8M in late Oct. As of this week, a total of 25,047 claims have been filed for Idalia damage. The hurricane made landfall Aug. 30. TALLAHASSEE, Fla. – Estimated insured losses from Hurricane Idalia have reached $309.5 million, while claims have topped 25,000, according to data released Thursday by the Florida … Read more
As artificial intelligence and technology evolve, AI can transform some tasks real estate pros do, like automating marketing or making home showings more efficient. ANAHEIM, Calif. – Experts gathered to discuss the intersection of real estate and the latest technological advancements during the NAR NXT, The Realtor® Experience. The event featured two standout sessions that … Read more
Overall housing starts rose 1.9% to a seasonally adjusted rate of 1.37M units. NAHB chair: A lack of for-sale existing homes supported new construction demand. WASHINGTON – Single-family construction held steady in October as high mortgage rates depressed demand, but more buyers turned to new homes because of a lack of existing inventory. Overall housing … Read more
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