Redfin found the average U.S. household could not afford many of the homes for sale in 2023. The problem stems partly from the housing shortage. WASHINGTON – If you found the U.S. housing market impossible you were not alone. In fact, you were in the vast majority, according to a new analysis by the real … Read more
A Fannie Mae survey found 17% of consumers indicate it’s a good time to buy a home now. WASHINGTON – The Fannie Mae Home Purchase Sentiment Index HPSI) increased 2.9 points in December to 67.2, due primarily to a significant jump in the share of consumers expecting mortgage rates to go down over the next … Read more
A Fannie Mae survey found 17% of consumers indicate it’s a good time to buy a home now. WASHINGTON – The Fannie Mae Home Purchase Sentiment Index HPSI) increased 2.9 points in December to 67.2, due primarily to a significant jump in the share of consumers expecting mortgage rates to go down over the next … Read more
LOS ANGELES – Emily Johnson recalls her first duplex fondly — well, sort of. She rented to a friend’s sister, who ended up being “a nightmare”: The tenant smoked in the house, paid rent late and knocked on Johnson’s door at 11 p.m. with maintenance requests. Nevertheless, Johnson caught the investing bug. That experience 20 … Read more
Some economists say home sales will increase in 2024 as mortgage rates ease. LOS ANGELES (AP) — Home loan financing costs eased again this week, pulling the average long-term U.S. mortgage rate down to a six-month low. The average rate on a 30-year mortgage dropped to 6.67% from 6.95% last week, mortgage buyer Freddie Mac … Read more
MIAMI – Some people trying to buy a condominium in South Florida but getting mysteriously rejected for a mortgage could be in for a jolt: The reason they can’t get a loan may be that the condo is on a secret quasi-governmental blacklist. News media reports and data leaks to a pair of law firms … Read more
New building codes and regulatory changes are in the future as Southwest Florida continues to recover from Hurricane Ian’s wrath. FORT MYERS BEACH – When it comes to once-in-a-generation hurricanes and Florida’s real estate market, one thing is clear: change is afoot. Consider Hurricane Andrew. More than three decades ago, that deadly 1992 storm … Read more
While mortgage rates moving closer to 6% will draw buyers into the 2024 housing market, several economists don’t think it will create a similar rush of sellers listing their homes LOS ANGELES (AP) – Several housing economists are projecting that mortgage rates will ease moderately next year, though the forecasts call for the average rate … Read more
NAR Chief Economist Yun: Except for office space, commercial property rates are expected to stabilize, though higher interest rates are impacting commercial loans. ANAHEIM, Calif. – Commercial property rates are expected to stabilize – aside from office space – and commercial real estate will revitalize, according to NAR Chief Economist Lawrence Yun. Yun presented yesterday … Read more
Economist Lawrence Yun predicts that home sales will rise by 15% next year, and by spring, mortgage rates will hover in the 6% to 7% range. ANAHEIM, Calif. – National Association of Realtors® (NAR) Chief Economist Lawrence Yun looked the current state of the U.S. residential real estate market and shared his 2024 outlook yesterday … Read more
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