NEWS
Florida Realtors: Fla.’s single-family median price up 16.1% ($412K), condo median price up 20.6% ($305K). Mortgage rates, prices impact sales, and inventory is up.
Rates appear to have hit at least a temporary plateau in the low 5% range. Last week, the 30-year, fixed-rate mortgage averaged 5.22%.
NAHB’s multifamily survey found mixed results in the second quarter, as a drop in optimism for condo builds overshadowed an increase in outlooks for apartments.
Properties didn’t stay on the market long (14 days), prices climbed 10.8% year-to-year, and inventory is starting to grow in the face of higher mortgage rates.
Credit scorers, lenders and other financial firms that collect personal data have a duty to keep it safe – and a liability if they don’t – the U.S. consumer bureau says.
Studies find rent control is a short-term solution that creates long-term problems. Florida Realtors has filed a lawsuit against Orange County to block a proposal.
Investors consider a 60/40 stock/bond portfolio standard, but real estate has provided solid returns over the past 12 months, convincing many to diversify.
Three national nonprofits will split the money: Habitat for Humanity ($9M), Enterprise Community Partners ($15M) and Local Initiatives Support Corp. ($17M).
In Canada and Australia, the screening system led to a 35% drop in parties after considering things like weekend dates, renter proximity and their Airbnb history.
Renters usually cut back expenses to save for a down payment, so downsizing their apartment to one less bedroom might get them into a house within a few years.
In a slower market, buyers and sellers shop for a Realtor who listens, advocates for them and knows the business inside and out.
About 16.1% U.S. home contracts fell through in July, up from 15% in June and 12.5% a year earlier. Of the top 10 city backout rates, 6 were in Fla., with Jacksonville No. 1.
Single-family starts decreased 10.1% to the lowest reading since June 2020. Multifamily also fell (8.6%) but ongoing construction is up 24.8% year-to-year for 5-plus units.
Bubbles pop, and even with too-high home prices, “The housing market today is a far different beast than what we saw in the mid-2000s,” says economist Nicole Bachaud.