Aug. Home Construction Up 3.9% After July Drop
A better-than-expected rebound came largely from the apartment-construction segment that rose 21.6% compared to a 2.8% decline in single-family-home starts.
Fed Likely to Signal a Pullback in Economic Support
The Federal Reserve used its tools to tamp down interest rates in order to help a pandemic-harmed economy – but they’re expected to ease that support later this year.
Foreign Buyers May Return in Nov. as U.S. Eases Restrictions
Travelers must be fully vaccinated and have a recent negative COVID-19 test if flying to the U.S., but the change could allow more buyers to physically tour homes.
New Flood Rates Debut Oct. 1 Unless Congress Acts
The Biden administration doesn’t plan to stop FEMA’s “Risk Rating 2.0” from going into effect, leaving Congressional leaders to decide. NAR backs the new structure that charges by individual home rather than flood zone, but it’s facing opposition from other real estate groups.
NAR Realtor Relief Fund Telethon Raises $350K
Realtors raised almost $350K in three hours in support of disaster victims. The virtual event, part of the “Hope Rising” campaign, celebrated RRF’s 20th anniversary.
Inflation Forces Builders to Take It Slow, Raise Prices
How much will lumber cost in six months? When builders don’t know how much supplies will cost upon arrival, they grow skittish about quoting prices and gauging demand.