Florida Realtors’ data: More new listings and higher median prices – up 18% for single-family homes to $354,000; up 16.1% to $252,500 for condos – than a year ago. Single-family home sales rose just 0.2%, but condo sales were up 13.1%. Chief Economist O’Connor: Condo-townhouse market “remains the hotter market for now.”
The decline follows two months of increases. NAR’s chief economist says buyer demand remains strong, but higher prices have pushed many to wait for more inventory.
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.
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.
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.
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.
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.
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.
It depends on where you want to live, at least according to a new report that analyzed the top 100 U.S. metros. But no Fla. metros were in the top 10 overvalued markets.
Realtor.com: The shortfall continues and even increased by 1.4M homes since 2019. New-home construction has hit its slowest pace since 1995 and isn’t much headway.