WASHINGTON (AP) – The second consecutive quarter of economic growth that the government reported in late January underscored that the nation isn’t in a recession despite high inflation and the Federal Reserve’s fastest pace of interest rate hikes in four decades. Yet the U.S. economy is hardly in the clear. The solid growth in the … Read more
Of those helped, 63K followed Hurricane Ian and 4K Nicole. It comes to $5.2B in grants, disaster loans and flood insurance after Ian and $19.8M after Nicole. WASHINGTON – The Federal Emergency Management Agency (FEMA) reports that it’s awarded grants to 63,000 households affected by Hurricane Ian – money used for rental assistance or basic … Read more
U.S. home prices rose 4% compared to the last quarter of 2022, hitting $378K. But only 18% of metro markets saw double-digit growth in 4Q. In 3Q, it was 46%. WASHINGTON – About nine out of 10 U.S. metro markets registered home price gains in the fourth quarter of 2022 despite mortgage rates eclipsing 7%, … Read more
Foreclosures still don’t have a notable impact on the market, yet Attom’s latest report found Fla. saw a lot of initial filings – but few actually repossessed. TAMPA, Fla. – Real estate data analysis by Attom showed that despite the beginning of a housing market cooldown, foreclosures across the U.S. had increased month-by-month for nearly … Read more
Homeowners still want to spend their home equity. However, high mortgage rates make a refinancing less attractive, so they’re turning to home equity lines of credit. LOS ANGELES (AP) – Homeowners are increasingly tapping their equity, taking advantage of big gains following years of soaring housing prices. Some 333,537 home equity loans were taken out … Read more
In Fla., though, rents outpaced the national average. Jacksonville saw the highest year-to-year change with a 7.5% increase, and a low of 3.5% in Miami and Tampa. SEATTLE – The median U.S. asking rent rose 2.4% year-over-year to $1,942 in January – the smallest increase since May 2021, and the lowest level in nearly a … Read more
Unlike boomers, millennials pay less attention to marketing materials they hold in their hands, like postcards or newspapers. Digital advertising is a better way to go. NEW YORK – Millennials are now the largest U.S. generational group and make up the largest percentage of homebuyers. As a result, marketing to millennials is a no brainer. … Read more
When buyers needed a bidding edge, new companies offered to operate as a cash-offer middleman. But now some are stuck with hundreds of homes. NEW YORK – A handful of young companies known as power buyers created a niche business to help homebuyers gain an edge during the hypercompetitive housing boom. While tactics varied, many … Read more
State-run Citizens’ policies are sold only through insurance agents, but scammers are creating fake websites to target Fla. homeowners seeking coverage. TALLAHASSEE, Fla. – Citizens Property Insurance Corporation sent out a consumer alert to help Florida homeowners avoid scammers. The warning: Be wary of internet schemes by entities masquerading as Citizens “selling” fictitious insurance products … Read more
Expect disruption. AI-powered systems can instantly analyze large amounts of data – property prices, rental rates, market trends – to help predict future real estate values. NEW YORK – Artificial intelligence (AI) is seen as the ultimate disruptor, with companies eager to use it to automate tasks and boost efficiency. John Jack, CEO of Galetti … Read more
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