NAR 3Q Sales: Prices Up Double Digits in 4 Out of 5 Metros
Prices rose in 99% of the 183 markets NAR measures quarterly, and 16% (to $363,700) overall. Of the top 10 metros for year-over-year price gains, five are in Fla.
Average Mortgage Rates Dip Below 3% Again This Week
The fear of rapidly rising mortgage rates appears exaggerated, as this week’s 30-year, fixed-rate mortgage averaged 2.98% compared to last week’s 3.09%
Tenant Screeners Can’t Compare Names and Draw Conclusions
Screening tenants is okay but only if based on valid data. A CFPB rule, backed by HUD, says relying on “same name comparisons” is a fair housing violation.
Cybersecurity and Real Estate: You Need Protection Now
Good cyber hygiene keeps potential attacks from becoming successful security breaches. Cybercrime’s cost is projected to rise 15% per year for five years.
RE Agents Prepare for Foreign Buyers’ Return as Travel Ban Ends
International buyers sidelined by the pandemic are ready to meet with real estate pros in Fla. and across the U.S., though a lack of supply may prove frustrating.
NAR’s 2021 Buyer-Seller Report: Moving Earlier, Selling Quicker
Between July 2020 and June 2021, U.S. homes sold at a record pace. However, many owners didn’t stay in their home as long, with average tenure dropping from 10 years in last year’s report to eight years this year. Still, 9 out of 10 buyers (87%) and sellers (90%) used an agent or broker.
Homes Sell at Fast Pace for 8th Month in a Row in Oct.
Realtor.com: Homes sold in the 50 biggest U.S. metros at an average of 39 days. Miami (No. 1), Jacksonville (3) and Orlando (4) were in the top 5 fastest-selling metros.
Fla.’s Housing Market: Median Prices, Cash Sales Up in 3Q
Florida Realtors’ data: Higher median prices – up 18.4% for single-family homes to $355,000; up 18.6% to $254,900 for condos – than 3Q 2020. Condo-townhouse sales up 13%, though single-family home sales were down slightly (-1.1%), at least in part due to tight inventory.
Q&A: Can Condo Board Discuss Fee Increase with New Residents?
The seller should disclose pending increases, but may be unaware. Ensure this info is being shared with residents, and only share the same info with applicants.
CoreLogic: Home Prices Surge Another 18% Annually in Sept.
CoreLogic’s latest report notes high buyer demand amid a supply shortage. From Aug. to Sept., home prices rose 1.1% to reach a new high, but they may soon moderate.