1 of 5 iBuyer Homes Sold to Institutional Investors
A Bloomberg analysis of 100K property records found that big investors bought 20% of homes purchased by iBuyers – and twice that amount in some Sun Belt cities.
Treat Top Tool with Respect: Your Phone
Today’s phones are the most expensive tool that people take for granted, yet there are small changes you can make to maximize efficiency and extend their life.
NAR: Jan. Pending Home Sales Drop 5.7%
Buyers have difficulty finding a home, says NAR’s chief economist. He won’t be surprised to see demand decline given current “mortgages, home costs and inventory.”
Fla. Builders Can’t Keep Up with New-Home Demand
Some buyers camp out overnight to be first in line when a new-home development debuts, and a new Westlake community with 4,500 lots says it’s still not enough.
Housing Test: Is it Harder on Buyers or Renters?
A CoStar analysis found rising rents across the Sun Belt with Orlando topping the list (up 24.3%), followed closely by Tampa (up 24%).
CFPB Wants to Remove Bias in Algorithm Appraisals
An automatic appraisal that uses historical data can simply mirror existing discrimination, says the national consumer agency, now reviewing loan algorithms.
NAHB: Jan. New-Home Sales Lower but ‘Still Solid’
New-home sales dropped 4.5% in Jan., but builders say demand remains strong. They blame supply-chain issues that increase costs and slow construction time.
Why Do Some Developments Have Silly Names?
Why does Golfview Harbour have no golf, no view and no harbor? And Hollywood Hills has no hills? Why can’t you go hunting in Woodfield Hunt Club?
Mortgage Rates Drop a Bit this Week, Average 3.89%
A number of economic indicators suggest higher mortgage rates, but competition from refinancing homeowners also declined after rates rose to almost 4%.
NAR Study Finds Drop in Black Homeownership Rate
The U.S. homeownership rate grew a record 1.3% in 2020 – to 65.5%. It also grew over 10 years for all groups but one: The Black rate dropped to 43.4% from 2010’s 44.2%.