Builders have turned their sights to buyers of moderate means, and house size reflects that change. Fewer now have dining rooms, bathtubs and/or family rooms. NEW YORK – With some potential buyers feeling priced out of the housing market, home builders are finding ways to make their product more affordable to increase their pool of … Read more
JACKSON HOLE, Wyoming (AP) – The continued strength of the U.S. economy could require further interest rate increases, Federal Reserve Chair Jerome Powell said Friday in a closely watched speech that also highlighted the uncertain nature of the economic outlook. Powell noted that the economy has been growing faster than expected and that consumers have … Read more
Most local Realtor associations (74%) have less than 2,000 members, and 2 out of 5 (38%) allow non-Realtor MLS participation. Their top non-dues revenue? Late fees. CHICAGO – The National Association of Realtors® (NAR) put out its inaugural report on Realtor associations across the U.S., and the vast majority of them (74%) are relatively small … Read more
An RE website with tons of local information rises to the top in search engine rankings (SEO). To do that, link to individual web pages via a local-directory page. EDGARTOWN, Mass. – To form customer connections, agents must build trust and relationships by forming connections with customers. To this end, agents can turn to location-specific … Read more
LONDON – Starting Friday, Europeans will see their online life change. People in the 27-nation European Union can alter some of what shows up when they search, scroll and share on the biggest social media platforms like TikTok, Instagram and Facebook and other tech giants like Google and Amazon. That’s because Big Tech companies, most … Read more
Buyers get used to mortgage rates and incorporate them into decisions, but increases/decreases make them wonder if they should move quickly or hope they come back down. NEW YORK – Despite the highest mortgage rates in a generation, new houses continue to sell. The U.S. Commerce Department on Wednesday reported that a seasonally adjusted 714,000 … Read more
If historical lending records have systemic bias, how can artificial intelligence (AI) digest that data yet also avoid past mistakes and “algorithmic discrimination”? NEW YORK – On July 18, 2023, Federal Reserve Vice Chair for Supervision Michael Barr cautioned banks against fair lending violations arising from their use of artificial intelligence (AI). Training on data … Read more
Two companies under the Orion180 name were approved this week in another hopeful sign that legislative changes may be having a positive Fla. market impact. TALLAHASSEE, Fla. – The Florida Office of Insurance Regulation (OIR) approved two more private insurance companies as property and casualty insurers in Florida: Orion180 Select Insurance Company and Orion180 Insurance … Read more
The Mortgage Bankers Association says the number of homeowners getting forbearance mortgage help dropped 5 basis points in July and is now only 0.39%. WASHINGTON – The Mortgage Bankers Association’s (MBA) monthly Loan Monitoring Survey found that the total number of loans in forbearance decreased by 5 basis points at the end of July – … Read more
In a seasonally adjusted month-to-month comparison, July sales were 4.4% higher than June sales. Year-to-year sales were up 31.5%. WASHINGTON – New-home sales hit a 17-month high in July as construction continues to hold an outsized percentage of the home-sale market. The industry has been slowly ramping up even as the existing-home market pulls back … Read more
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