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
A property appraisal is needed when mortgage financing is used to buy residential real estate. It acts as a market value reference point for buyers and current owners. KEY BISCAYNE, Fla. – A property appraisal is needed any time mortgage financing is used to purchase residential real estate. Often, an appraisal is ordered and everyone anxiously awaits … Read more
A recent Jones Lang LaSalle report found that most private employers now operate under a hybrid policy of office attendance and remote work. ©Florida Realtors® Source link
IRVINE, Calif. – Attom has released its fourth-quarter 2023 U.S. Home Equity & Underwater Report, which shows that 46.1% of mortgaged residential properties in the United States were considered equity-rich in the fourth quarter, meaning that the combined estimated amount of loan balances secured by those properties was no more than half of their estimated market values. … Read more
Homebuyers say energy-efficient features are home “must-haves” because they save money, improve resale value and help people lead healthier lives. WASHINGTON, Penn. – Consumer efforts to be more eco-conscious are more and more noticeable. For proof of that, one need look no further than the increase in vehicle charging stations. Such stations are more accessible … Read more
Analysts are revising their forecasts for this year, saying the economy likely will grow 2.2% after adjusting for inflation, up from a previous estimate of 1.3%. NEW YORK (AP) — This year looks to be a much better one for the U.S. economy than business economists were forecasting just a few months ago, according to a survey … Read more
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