Fla. April Home Median Prices Up, Limited Supply
Florida Realtors: Fla.’s single-family median price up 21.8% to $410K. Condo median price up 24% to $310K. Higher interest rates and tight inventory slow sales.
Mortgage Rates Slip a Little, Down to 5.25%
“Economic uncertainty causes rate volatility,” says Freddie Mac’s chief economist. The average 30-year, fixed-rate loan moved down a bit from last week’s 5.3%.
NAR: U.S. Homes Sales Dropped 2.4% in April
Year-to-year, sales dropped 5.9%. The inventory of for-sale homes, while higher at a 2.2-months’ supply, means the U.S. remains in “seller’s market” territory.
More Sellers Charged Capital Gains Taxes
Sellers can shield $250K of profit from capital gains taxes, but as home values rise, some filling out their IRS forms now discover that Uncle Sam wants a cut.
Survey: 25% of Buyers Now ‘Undecided’
Inflation has changed perceptions. More potential homebuyers must now use money to pay for daily essentials, and credit card usage rose 49% in 1Q 2022.
Latest Fake Online Listing? The ‘Full House’ House
Zillow featured the home used for the TV show “Full House,” only to walk it back and say the property, listed for $37M, wasn’t actually for sale.