Homeowners Reluctant to Give Up Low Mortgage Rates?
This “lock-in effect” may impact listings moving forward. Higher rates have added about $400 to the average monthly payment on a median-priced home.
Tech Helpline Expands to 725K in U.S., Canada
Florida Realtors technical support service added 4 Realtor groups with nearly 12K new users. In 2021, the Helpline provided tech support for over 113K cases.
Higher Mortgage Rates Set Stage for Sales Slowdown
This week’s 30-year mortgage rate averaged 5.11%. Owners with locked-in lower rates have less financial incentive to sell; would-be buyers face higher loan costs.
Early Retirees Rejoin Workforce
In March, 3.1% of workers who were retired a year earlier are now working, a figure matching the pre-COVID level. Could it help ease the current labor shortage?
Tips for Better Social Media Engagement
Optimize your profile, include your real estate specialties and the areas you cover, use appropriate hashtags for shared content and offer fun polls to take.
Single-Family Starts, Permits Decline in March
Rising rates and supply chain issues impacted single-family starts (-1.7%) and permits (-4.8%). But multifamily starts rose 4.6% and permits were up 10%.
NAR: March Existing Home Sales Slip 2.7%
Year-to-year, total U.S. home sales fell 4.5%. NAR’s chief economist says sharply rising mortgage rates and higher inflation is beginning to impact the market.
Fla.’s March Median Prices Up, Supply Tight
Florida Realtors: Fla.’s single-family median price up 21.3% to $396.5K. Condo median price up 27.3% to $308K. Rising rates, prices and tight supply impact sales.
Homeowner Groups Try to Block Investor Buying
Arguing investors are keeping families from being able to buy, some HOAs are trying to cap the number of homes that can be rented out, among other steps.
Not All Baby Boomers Are Downsizing
Some want to age in place, keeping close to family and community. There are also concerns about being able to find and afford another place once they sell.