NAHB’s Aug. index fell 6 points to 50 – the break-even point between optimism and pessimism – based on higher mortgage rates and increased construction costs. WASHINGTON – After steadily rising for seven consecutive months, builder confidence retreated in August as rising mortgage rates nearing 7% (per Freddie Mac) and “high shelter inflation have further … Read more
The Mortgage Bankers’ 2Q National Delinquency Survey found that delinquency rates dropped to 3.37% – the lowest rate since it began collecting data in 1979. ©Florida Realtors® Source link
It’s not just the house: Some neighborhoods offer more opportunities. In Fla., the home price difference between high- and low-opportunity areas runs as high as 64%. SEATTLE – In a high-opportunity neighborhood, children who grew up in low-earning households went on to become higher earning adults than the typical person who grew up in their … Read more
Start with local research. What words to buyers use most often when searching for a home? What words are within listings that see the most clicks? NEW YORK – Both words and images make an impact when marketing homes for sale, says Colibri Real Estate’s Tina Lapp, who has almost 30 years of professional education … Read more
Investors bid up prices for multifamily properties during the pandemic, and that debt will soon cost even more after higher interest rates affect loan rates. NEW YORK – Apartment buildings could be the next trouble spot in commercial real estate, with last year’s sudden increase in debt costs threatening to wipe out multifamily property owners … Read more
An 18-association group that includes NAR sent a letter to federal housing regulators, saying that rent control makes affordable housing issues worse – not better. WASHINGTON – Eighteen associations representing housing providers, lenders and residents sent a letter to Federal Housing Finance Agency (FHFA) Director Sandra Thompson. The letter offered a warning that some policies … Read more
While $1M signified luxury property a short while ago, it’s now 8% of the nation’s housing stock – but a large percentage of those homes are still in Pacific Coast states. SEATTLE – Just over 8% of U.S. homes are worth $1 million or more, near June 2022’s all-time high of 8.6%, according to a … Read more
Once upon a time, a condo had a dynamic golf course view, but a developer bought it and the view now is two overgrown trees. Are there options? FORT LAUDERDALE Fla. – Question: When I bought my condo, my building had the best golf course view from my screened porch. However, the golf course faced … Read more
How well does HUD oversee the nation’s Housing Trust Funds, which flow to states for affordable housing? The Fed’s oversight group suggests five changes. WASHINGTON – On August 8, the U.S. Government Accountability Office (GAO) released a report entitled “Affordable Housing: Improvements Needed in HUD’s Oversight of the Housing Trust Fund Program.” The Housing Trust … Read more
If 9 out of 10 buyers start by typing “How do I buy a home?” into a search engine, it’s worth spending money to make sure your agency’s name is near the top. NEW YORK – With 90% of house hunters using the internet as a starting point, it makes sense for realty professionals to … Read more
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