Sales of new homes rose nationally in 2023 for the 1st time in 2 years, up 4.2% from the previous year. However, fluctuating mortgage rates remain a wild card. LOS ANGELES (AP) – Housing market trends are shaping up in favor of a solid 2024 for U.S. homebuilders – as long as mortgage rates don’t jump back to the highs … Read more
Breaking down long-term objectives into manageable increments, like monthly or quarterly production or sales targets, lets you assess and adjust plans as needed. NORWALK, Conn. – Business planning is essential for real estate professionals given that outside market trends, economic conditions and other factors can substantially alter a business’s profitability. Most firms will write up … Read more
RE Q&A: Communicate with your HOA or condo association. Most will try to address the issue with homeowners who have financial difficulties, but there are legal limits. FORT LAUDERDALE, Fla. – Question: Our condominium association recently passed a rather large special assessment to get some work done that we do not have enough money in … Read more
FAU experts: Higher interest rates and less demand for office space are concerns. Businesses and workers moving to Sunbelt states like Fla. make them less vulnerable. BOCA RATON, Fla. – Sinking demand for office space in the commercial real estate market could lead to bank failures in parts of the country, according to two finance … Read more
Freddie Mac economist: Strong economic and inflation data “caused the market to re-evaluate the path of monetary policy, leading to higher mortgage rates.” MCLEAN, Va. – The 30-year fixed-rate mortgage (FRM) averaged 6.90%, this week, up from last week’s average of 6.77%, according to Freddie Mac. “Strong incoming economic and inflation data has caused the … Read more
Total existing sales slipped 1.7% year-over-year. Chief Economist Yun: Jan.’s “monthly gain is the start of more supply and demand.” Listings were modestly higher. WASHINGTON – Existing-home sales grew in January, up 3.1% from December, according to the National Association of Realtors®. Total existing home sales – completed transactions that include single-family homes, townhomes, condominiums … Read more
New poll: Many also don’t think the institutions – whether federal or local – that use their tax dollars spend the money in the best interest of “people like them.” CHICAGO – A majority of taxpayers feel they pay too much in taxes, with many saying that they receive a poor value in return, according … Read more
NEW YORK – Inflation is slowing, and job growth has surged but many Americans still feel the burden of expensive housing – fueled in part by high demand, low inventory and mortgage rates. Home prices across the U.S. rose 5.5% over the past year in December 2023 and they are projected to increase 2.8% year over year by December 2024, according to CoreLogic, … Read more
WASHINGTON – Homeownership rates for racial minorities increased in 2022, with Asian and Hispanic Americans achieving historic peaks. Despite these advancements, disparities persist among racial and ethnic groups, notably with Black homeownership lagging. People of color continue to endure significant buying challenges throughout and after their home purchases, according to a report released today by … Read more
As home affordability continues to challenge buyers, builders are now testing the market for smaller, more affordable starter homes – some just 400 square feet. NEW YORK – As home affordability becomes a concern for many, home builders are answering the call for homes that are more affordable and smaller, with some totaling just 400 … Read more
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