Overall, Jan. new-home sales rose 7.2%, but the South’s 17.1% carried the three other areas that saw a decline. The Northeast saw the biggest drop at 19.4%. WASHINGTON – Sales of newly built, single-family homes in January increased 7.2% to a 670,000 seasonally adjusted annual rate from an upwardly revised reading in December, according to … Read more
NEW YORK – As commercial real estate investors face a reset in property values, finding off-market deals is becoming increasingly more attractive. Investors expect that they will get a better deal if they don’t have to compete for properties through a bidding process, in addition to enjoying a more straightforward path to a closing, according … 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
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
TORONTO – On January 1, 2023, the Canadian government’s Prohibition on the Purchase of Residential Property by Non-Canadians Act (the Act) and the associated Prohibition on the Purchase of Residential Property by Non-Canadians Regulations (the Regulations) came into effect. The Act prohibits “non-Canadians” – which, by virtue of the Regulations, includes entities formed outside of … Read more
While the phrase “not out of the woods yet” is still used, Redfin economists say the market probably hit its cycle-low trough the second week of Nov. 2022. SEATTLE – The housing market has begun to recover after hitting a low point in the second week of November, according to a report from Redfin. The … Read more
In 2022, new-home sales were down 16.4% compared to 2021, but falling mortgage rates have pushed sales higher recently. In Dec., they were up 2.3% month-to-month. WASHINGTON – New-home sales posted a modest gain in December, increasing 2.3% (seasonally adjusted annual rate) from a downwardly revised reading in November, according to newly released data by … Read more
FAU: Fort Myers metro renters pay 18.05% above long-term trends, along with Miami, North Port, Jacksonville and five Central Fla. metro areas. TAMPA, Fla. – The rent cost is high, and has been for a while, especially in Florida. As housing costs remain a significant driver of overall inflation, a new study by Florida Atlantic … Read more
NEW YORK – Wells Fargo & Co. confirmed Tuesday it is shrinking the size of its home-lending serving business as part of retrenching what had been the nation’s largest mortgage provider. Bloomberg News reported in an Aug. 14 article that Wells Fargo was pulling back from providing funds for mortgage loans made by third-party lenders, … Read more
A year-to-year comparison of rate increases finds the smallest jump in over a year. Rents rose less than that in 3 Fla. metros and were down 0.8% in Jacksonville. SEATTLE – The median U.S. asking rent rose 4.8% year-over-year to $1,979 in December – the smallest increase since July 2021, according to a report from … Read more
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