Florida Realtors economist: More people still move into the Sunshine State than leave it, and United Van Lines’ analysis of its customers unveils some of their motives. ORLANDO, Fla – What goes up must come down, but what goes in doesn’t always go out – or at least that’s true for Florida’s shipments, according to … Read more
LOS ANGELES – We’re witnessing a massive revolution in artificial intelligence (AI). Tools like ChatGPT, Midjourney, Stable Diffusion, Dall-E and Copilot allow users to generate text, imagery, computer code and other content based solely on natural language prompts. The creativity, detail and human-like quality of the AI outputs are astonishing, leading to widespread excitement, fear, … Read more
Year-end earnings reports from Redfin and Zillow showed substantial losses after mortgage rates almost doubled – the “scenario we feared would happen.” SEATTLE – Seattle’s real estate tech companies are feeling the effects of the cooling housing market on their bottom lines. Despite cutbacks and layoffs in 2022, year-end earnings reports from Zillow and Redfin … Read more
United Property & Casualty Ins. Co. is insolvent, and the company cites higher-than-expected losses from Hurricane Ian. Fla. is taking steps to place it in receivership. TALLAHASSEE, Fla. – State regulators moved forward Thursday with placing United Property & Casualty Insurance Co. (UPC) into receivership after higher-than-expected losses from Hurricane Ian helped push the insurer … Read more
Residents expect HOAs to enforce rules and often empower them to fine and suspend homeowners. But laws and rules keep HOAs from being all-powerful. MIAMI – Community associations’ abilities to fine and suspend unit owners who refuse to comply with their rules and restrictions are essential for the viability of the home/condo-owner association model for … Read more
Builders are more optimistic about the 2023 market, but that optimism isn’t reflected in the number of Jan. housing starts. Building permits increased a bit, though. WASHINGTON – Although rising builder sentiment indicates a turning point for housing later this year, January’s lackluster single-family production suggests that the new-home market still faces some challenges. Overall … Read more
The U.S. homeownership gap between Blacks and whites widened 1.5 percentage points from 2010 to 2021, according to a study by “Today’s Homeowner.” CHICAGO – The national racial homeownership gap widened from 2010 to 2021, new data shows – but in some areas of the country, the gap has actually closed. Housing equality worsened in … Read more
Committed to public service? Want to grow your charity work? Five Realtors will receive a $1,000 grant and a year of mentoring to help expand their efforts. CHICAGO – The National Association of Realtors® (NAR) is now accepting applications for its Volunteering Works grant and mentoring program. The program, funded by Wells Fargo Home Lending, … Read more
31% of U.S. Dec. sales were for cash, though Fla. percentages ran as high as 52% in West Palm Beach. VA and FHA loans also rose in most Fla. metro areas studied. SEATTLE – Roughly one-third (31.2%) of U.S. home purchases were cash sales in December, according to a report from Redfin. That’s up from … Read more
NAR’s Realtors Relief Foundation helps people after a disaster threatens their homes, including Floridians after Hurricane Ian hit Fla. last year. WASHINGTON – The Realtors® Relief Foundation (RRF) announced its 2023 fundraising campaign. The annual initiative aims to raise $5 million this year to provide housing relief to victims of hurricanes, floods, wildfires and other … Read more
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